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The German Council of Economic Experts ( German: ') is a group of economists set up in 1963 to evaluate economic policies of the
German government The Federal Cabinet or Federal Government (german: link=no, Bundeskabinett or ') is the chief executive body of the Federal Republic of Germany. It consists of the Federal Chancellor and cabinet minister A minister is a politician who head ...
. In the media, the council is often referred to as the "Five Sages of Economy" (''Fünf Wirtschaftsweisen''), or simply the "Five Sages" (''Fünf Weisen'').


Role

Every year the Council prepares an annual report which is published before or by November 15. The
federal government A federation (also known as a federal state) is a political entity characterized by a union of partially self-governing provinces, states, or other regions under a central federal government (federalism). In a federation, the self-governin ...
has to publish its comments and conclusions within eight weeks of the publication of the annual report. The Council’s secretariat is based at the Federal Statistical Office of Germany in Wiesbaden.


Membership


Composition

The Council has five members which – based on the recommendation of the Federal Minister for Economic Affairs and Energy – are nominated by the
federal government A federation (also known as a federal state) is a political entity characterized by a union of partially self-governing provinces, states, or other regions under a central federal government (federalism). In a federation, the self-governin ...
and appointed by the President of Germany for a term of five years. Every membership expires on 1 March of the term’s final year. Traditionally, the Joint Committee of German Associations in Trade and Industry – including the Confederation of German Employers' Associations and 14 other leading business associations – and the country’s trade unions each nominate one member of the SVR. .


Current members

* Achim Truger (since March 2019) * Veronika Grimm (since April 2020) *
Monika Schnitzer Monika Schnitzer (born September 9, 1961 in Mannheim) is a German economist and chair of comparative economic research at the Ludwig Maximilian University of Munich. She was the president of the ''Verein für Socialpolitik'' from 2015 to 2016 and i ...
(since April 2020) * Martin Werding (since September 2022) * Ulrike Malmendier (since September 2022)


Former members

(in chronological order) * Wilhelm Bauer (January 1964–July 1974; chairman: March 1964–February 1970) * Paul Binder (January 1964–February 1968) * Herbert Giersch (January 1964–February 1970) * Harald Koch (January 1964–May 1969) * Fritz W. Meyer (January 1964–February 1966) * Wolfgang Stützel (February 1966–September 1968) * Manfred Schäfer (March 1968–July 1970) * Norbert Kloten (June 1969–April 1976; chairman: March 1970–February 1976) * Claus Köhler (December 1969–February 1974) * Olaf Sievert (May 1970–February 1985; chairman: March 1976–February 1985) * Armin Gutowski (December 1970–February 1978) * Gerhard Scherhorn (May 1974–February 1979) * Kurt Schmidt (August 1974–May 1984) * Gerhard Fels (June 1976–February 1982) * Horst Albach (May 1978–February 1983) * Werner Glastetter (August 1979–August 1981) *
Hans-Jürgen Krupp Hans-Jürgen Krupp (born 1933) is a German politician, economist, professor and former President of the University of Frankfurt. He was a representative of the Social Democratic Party (SPD) and state minister in Hamburg. Krupp was born in 193 ...
(March 1982–February 1984) * Hans Karl Schneider (July 1982–February 1992; chairman: March 1985–February 1992) * Ernst Helmstädter (March 1983–February 1988) * Dieter Mertens (March 1984–February 1986) * Dieter Pohmer (July 1984–February 1991) * Helmut Hesse (March 1985–November 1988) * Rüdiger Pohl (July 1986–February 1994) * Otmar Issing (April 1988–September 1990) * Herbert Hax (March 1989–February 2000; chairman: March 1992–February 2000) * Horst Siebert (January 1991–February 2003) * Rolf Peffekoven (April 1991–February 2001) *
Juergen B. Donges Juergen Bernhard Donges (24 October 1940 – 25 June 2021) was a German economist. He was professor emeritus of political economics at the University of Cologne, and was for a long time member of the German Council of Economic Experts. Donges ...
(April 1992–February 2002; chairman: March 2000–February 2002) * Wolfgang Franz (May 1994–February 1999; March 2003–February 2013; chairman: March 2009–February 2013) * Jürgen Kromphardt (March 1999–February 2004) *
Bert Rürup Hans-Adalbert Rürup (born 7 November 1943) is a German economist and former chairman of the German Council of Economic Experts. He was formerly a professor of economics at the Darmstadt University of Technology. From 2010 to 2012, he was preside ...
(March 2000–February 2009, chairman: March 2005–February 2009) * Wolfgang Wiegard (March 2001–February 2011; chairman: April 2002–February 2005) * Axel A. Weber (March 2002–April 2004) * Beatrice Weder di Mauro (June 2004–February 2012) * Claudia M. Buch (March 2012–May 2014) * Peter Bofinger (March 2004–February 2019) * Isabel Schnabel (June 2014–December 2019) *
Christoph M. Schmidt Christoph Matthias Schmidt (born 25 August 1962) is a German economist. He has been President of RWI - Leibniz Institute for Economic Research in Essen since 2002 and also holds the Chair for Economic Policy and Applied Econometrics at the Fac ...
(March 2009–February 2020; chairman: March 2013–February 2020) * Lars Feld (since March 2011-February 2021; chairman: March 2020-February 2021) * Volker Wieland (March 2013–April 2022)


Notable proposals

In 2011, the Council proposed a plan for the issuance of collectivized European debt as part of a mechanism for contending with the European sovereign debt crisis."The European Redemption Pact (ERP) – Questions and Answers"
, GCEE, 25.01.2012. Retrieved 2012-04-12.


References


External links


Official homepage
(in German

{{Authority control German Council of Economic Experts