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International Economic Policy, Financial and Real Estate Markets

The researchers in the department International Economic Policy, Financial and Real Estate Markets deal with current issues of international economic and monetary policy, examine the economic significance of financial markets and real estate markets, and address questions of European integration and international trade policy. The researchers get involved in economic policy debates, be it the discussion on rent control and housing shortages, on the future of the WTO and how to deal with China, or on the ECB's interest rate policy and the Stability and Growth Pact.

Contact Persons

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Berthold Busch

Dr. Berthold Busch

Senior Economist for European Integration

Tel: +49 221 4981-762
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Markus Demary

Dr. Markus Demary

Senior Economist for Monetary Policy and the Economics of Financial Markets

Tel: +49 221 4981-732 Markus Demary
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Philipp Deschermeier

Dr. Philipp Deschermeier

Senior Economist for Real Estate Economics and Demographics

Tel: +49 221 4981-720 Philipp Deschermeier @p_deschermeier
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Ralph Henger

Dr. Ralph Henger

Senior Economist for Housing Policy and Real Estate Economics and Head of Fin.Connect.NRW

Tel: +49 221 4981-744 Ralph Henger
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Galina Kolev-Schaefer

Prof. Dr. Galina Kolev-Schaefer

Senior Economist for Trade Policy and Foreign Economic Activity

Tel: +49 221 4981-774 @galina_kolev
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Gero Kunath

Gero Kunath

Economist for China, emerging markets and securing skilled labor

Tel: +49 221 4981-568 Gero Kunath
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Leiter des Clusters Internationale Wirtschaftspolitik, Finanz- und Immobilienmärkte

Jürgen Matthes

Head of International Economic Policy, Financial and Real Estate Markets Research Unit

Tel: +49 221 4981-754 Jürgen Matthes
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Christian Oberst

Dr. Christian Oberst

Senior Economist for Real Estate Markets and Regional Economics

Tel: +49 221 4981-889 Christian Oberst @17ChOb

Pelin Öztopçu

Consultant for the Fin.Connect.NRW Project

Tel: +49 221 4981-764 Pelin Öztopçu
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Pekka Sagner

Dr. Pekka Sagner

Economist for Housing Policy and Real Estate Economics

Tel: +49 221 4981-881 Pekka Sagner
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Samina Sultan

Dr. Samina Sultan

Senior Economist for European Economic Policy and Trade

Tel: +49 221 4981-312 Samina Sultan
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Niklas Florian Taft

Niklas Florian Taft

Economist for monetary policy and financial markets

Tel: +49 221 4981-549 Niklas Florian Taft
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Michael Voigtländer

Prof. Dr. Michael Voigtländer

Head of International Economic Policy, Financial and Real Estate Markets Research Unit

Tel: +49 221 4981-741 Michael Voigtländer @mvoigtlaender
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Laurens Wünsch

Laurens Wünsch

Economist for financial and real estate markets

Tel: +49 221 4981-429 Laurens Wünsch

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Critical Choices: How Malaysia and Germany can Navigate Shifting Energy Geostrategy
External Publication 26. October 2026

Critical Choices: How Malaysia and Germany can Navigate Shifting Energy Geostrategy

Stewart Nixon* / Malte Küper in Policy Ideas

Malaysia and Germany, as constructive and reliable participants in globally interdependent energy (as well as trade and financial) markets, face an increasingly hostile, volatile, and uncertain environment surrounding energy choices.

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Fiscal Effects of Having Children
IW-Report No. 43 15. October 2026

Fiscal Effects of Having Children

Wido Geis-Thöne

The fiscal effects of children are relevant to various areas of policymaking.

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Event 14. October 2026 Alexander Radunz

Expert Workshop on the Industrial Accelerator Act

The German Economic Institute (IW) and Frontier Economics are pleased to invite you to a rapporteur & stakeholder workshop on the Industrial Accelerator Act (IAA) in Brussels.

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Universal entitlement, unequal provision: childcare in segregated German cities
External Publication 13. October 2026

Universal entitlement, unequal provision: childcare in segregated German cities

Matthias Diermeier / Jan Engler* / Melinda Fremerey / Leon Wansleben* in Journal of Social Policy

One mechanism driving persistent inequalities in childcare provision, despite rising investments and a substantial expansion of childcare facilities, may consist in the locational choices of providers, who eschew poorer neighbourhoods.

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A Comparison of Public Revenues Across the Federal States
IW-Report No. 41 12. October 2026

A Comparison of Public Revenues Across the Federal States

Björn Kauder

To ensure equivalent living conditions, the federal government influences the revenues of the states and municipalities. Under the fiscal equalization system, financially weak states receive surpluses in the distribution of sales tax revenues, while financially strong states must accept shortfalls.

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