DWS Global Financial Institute and ESB Business School, Reutlingen University, have jointly published a White Paper into the root causes of the European sovereign debt crisis.
ESB professor Bodo Herzog, together with DWS Investments' chief economist Johannes Müller looked at the euro crisis through analysis of how foreign debt holdings have negatively impacted domestic growth of European states. One key finding is that while contagion was felt, not all states fell to the debt crisis for the same reasons and causes. The analysis has also led to the development of an "Investors' Toobox", to support decision making by financial professionals, including asset managers active in the sovereign bond markets. Müller said: "The white paper offers a comprehensive view of all aspects of the eurozone crisis, unlike current financial markets or media discussions wherein only one aspect of the crisis, such as the debt banking or competitiveness issue is highlighted."
Link to the Paper is here
Bodo Herzog is professor of economics at ESB Business School, Reutlingen University. Moreover, he is Director of the Institute of Finance and Economics and a research professor at Reutlingen Research Institute (RRI). He has worked as a senior economist for the German Council of Economic Experts and as Chief Economist and Head of the Economics Department at Konrad Adenauer Foundation in Berlin. Professor Herzog studied mathematics and economics at the University Konstanz. He holds a PhD in economics with a dissertation on fiscal-monetary interaction in the European Monetary Union. He was a research fellow at Massachusetts Institute of Technology. In addition, Professor Herzog is a regular visiting professor at Portland State University and Zeppelin University. Since 2008, he is member of several political advisory councils in Germany. Professor Herzog’s research focuses mainly on macroeconomics, monetary economics, financial economics, and neuro-economics. He has published many articles in professional journals and several academic books. He is a frequent columnist for “The European” magazine.