Isabel Schnabel (née Gödde, born 9 August 1971) is a German economist who has been serving as a member of the
Executive Board of the European Central Bank since 2020.
She became professor of
financial economics
Financial economics, also known as finance, is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on ''both sides'' of a trade". William F. Sharpe"Financia ...
at the
University of Bonn
The Rhenish Friedrich Wilhelm University of Bonn (german: Rheinische Friedrich-Wilhelms-Universität Bonn) is a public research university located in Bonn, North Rhine-Westphalia, Germany. It was founded in its present form as the ( en, Rhine ...
in 2015 and a member of the
German Council of Economic Experts
The German Council of Economic Experts (German: ') is a group of economists set up in 1963 to evaluate economic policies of the German government. In the media, the council is often referred to as the "Five Sages of Economy" (''Fünf Wirtschaftswe ...
in 2014. She worked previously at the
University of Mainz
The Johannes Gutenberg University Mainz (german: Johannes Gutenberg-Universität Mainz) is a public research university in Mainz, Rhineland Palatinate, Germany, named after the printer Johannes Gutenberg since 1946. With approximately 32,000 stud ...
from 2007 to 2015.
Early life and education
Schnabel was born in
Dortmund. After completing her training as a bank clerk at
Deutsche Bank
Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...
in Dortmund, she began her studies in economics at the University of Mannheim in 1992. She continued her study of economics at the
Paris I (Sorbonne) and the
University of California, Berkeley
The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant u ...
before earning her diploma from the University of Mannheim in November 1998 as best in class. Schnabel studied as a doctoral student in economics at the University of Mannheim from 1998 to 2003, where she graduated summa cum laude after writing her dissertation titled “Macroeconomic Risks and Financial Crises – A Historical Perspective.”
Career
Career in academia
After receiving her
diploma in 1998, Schnabel started her
doctorate
A doctorate (from Latin ''docere'', "to teach"), doctor's degree (from Latin ''doctor'', "teacher"), or doctoral degree is an academic degree awarded by universities and some other educational institutions, derived from the ancient formalism ''li ...
studies in the graduate program "Allocation on financial markets" at the Department of Economics, University of Mannheim until 2003. That same year, she also wrote a dissertation, ''Macroeconomic Risks and Financial Crises – A Historical Perspective'', under the supervision of
Martin Hellwig
Martin Friedrich Hellwig (born 5 April 1949) is a German economist. He has been the director of the Max Planck Institute for Research on Collective Goods since 2004, after spending his academic career as a professor at University of Bonn (1977 ...
. Following that, she then worked as a student research assistant to
Axel Börsch-Supan
Axel Börsch-Supan (born 28 December 1954 in Darmstadt) is a German researcher, economist and director of the Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy in Munich, Germany. He is P ...
while she completed internships at Deutsche Bank in
Saint Petersburg
Saint Petersburg ( rus, links=no, Санкт-Петербург, a=Ru-Sankt Peterburg Leningrad Petrograd Piter.ogg, r=Sankt-Peterburg, p=ˈsankt pʲɪtʲɪrˈburk), formerly known as Petrograd (1914–1924) and later Leningrad (1924–1991), i ...
and Frankfurt. For the next three years, she was a senior research fellow at the
Max Planck Institute for Research on Collective Goods
The Max Planck Institute for Research on Collective Goods (German: ''Max-Planck-Institut zur Erforschung von Gemeinschaftsgütern'') is located in Bonn, Germany. It is one of 80 institutes in the Max Planck Society. The institute focuses its study ...
, Bonn.
In 2007 Schnabel became a professor of financial economics at Johannes Gutenberg University Mainz. In 2014 she was appointed as member of the German Council of Economic Experts (Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung) and started teaching financial economics at the University of Bonn in 2015.
Member of the executive board of the ECB, 2019–present
Following a proposal of
Finance Minister
A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation.
A finance minister's portfolio has a large variety of names around the world, such as "treasury", ...
Olaf Scholz, the German government nominated Schnabel to the
European Central Bank
The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's most important centr ...
’s executive board in 2019, replacing
Sabine Lautenschläger
Sabine Lautenschläger (born 3 June 1964) is a German jurist who served as a member of the Executive Board of the European Central Bank from 2014 to 2019. She previously served as vice-president of the Deutsche Bundesbank from 2011 to 2013. . Shortly after, the
Eurogroup
The Eurogroup is the recognised collective term for the informal meetings of the finance ministers of the eurozone—those member states of the European Union (EU) which have adopted the euro as their official currency. The group has 19 membe ...
supported Schnabel’s candidacy for a non-renewable 8-year term.
On the executive board, Schnabel is responsible for market operations. In this capacity, she oversees the ECB's 5.6 trillion-euro ($6.8 trillion) quantitative easing program.
Other activities
Regulatory agencies
*
Deutsche Bundesbank, member of the scientific advisory board of the Research Data and Service Centre (RDSC) (since 2016)
*
European Systemic Risk Board
The European Systemic Risk Board () is a group established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contrib ...
(ESRB), member of the advisory scientific committee (since 2015)
*
Federal Financial Supervisory Authority
The Federal Financial Supervisory Authority (german: Bundesanstalt für Finanzdienstleistungsaufsicht, Bundesanstalt für Finanzdienstleistungsaufsicht) better known by its abbreviation BaFin is the financial regulatory authority for Germany. It ...
(BaFin), chairman of the advisory board (member since 2008) and member of the administrative council (since 2013)
Research organizations
*
Verein für Socialpolitik
The Verein für Socialpolitik (), or the German Economic Association, is an important society of economists in the German-speaking area.
History
The Verein was founded in Eisenach in 1872 as a response to the "social question". Among its founde ...
, member of the executive board (since 2015)
*
Center for European Economic Research
Center or centre may refer to:
Mathematics
* Center (geometry), the middle of an object
* Center (algebra), used in various contexts
** Center (group theory)
** Center (ring theory)
* Graph center, the set of all vertices of minimum eccentrici ...
(ZEW), member of the scientific advisory board (since 2012)
*
European Historical Economics Society
The European Historical Economics Society (EHES) is Europe's leading research organization and learned society dedicated to the study of economic history. Founded in 1991, the EHES supports academic research within the discipline of economic hist ...
, member of the board of trustees (2005–2009)
Editorial boards
* ''Review of Economics'', member of the board of associate editors (since 2012)
* ''Financial History Review'', member of the editorial advisory board (since 2009)
* ''
Economics of Transition
A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy.
Transition economies undergo a set of structural transformations intended to develop market-based institutions. ...
'', co-editor (2008–2014)
Political positions
Schnabel is considered to have moderate views on monetary policy. In early 2019, she strongly advised against a possible merger of
Deutsche Bank
Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...
and
Commerzbank.
Recognition
* 2019 –
, Member
* 2018 –
Berlin-Brandenburg Academy of Sciences and Humanities
The Berlin-Brandenburg Academy of Sciences and Humanities (german: Berlin-Brandenburgische Akademie der Wissenschaften), abbreviated BBAW, is the official academic society for the natural sciences and humanities for the German states of Berlin a ...
, Member
* 2018 –
Gustav Stolper PrizeList of awardees of the Gustav Stolper Prize on the website of the German Economic Association. Retrieved January 15th, 2019.
/ref>
Selected publications
*
*
*
*
*
References
External links
Website at the University of Bonn
{{DEFAULTSORT:Schnabel, Isabel
1971 births
Executive Board of the European Central Bank members
German economists
German women economists
Academic staff of Johannes Gutenberg University Mainz
Living people
University of Mannheim alumni