External authors

Michael Hüther

External author

Michael Hüther (born April 24, 1962) is a German economist and director of the Institut der deutschen Wirtschaft. He has previously been the chief economist of DekaBank. Hüther also is an honorary professor at the European Business School International University Schloss Reichartshausen.

Hüther received his doctoral degree in economics from the University of Giessen in 1990. From 1990 to 1999 he was a research assistant for the German Council of Economic Experts. Since 2004 he serves as director of the IW.

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Blog Post

The ECB’s bond-purchase dilemma

German opposition to government-bond purchases by the European Central Bank is solidifying ahead of the programme’s likely announcement on January 22. Elections in Greece that could bring a government that will seek to negotiate the country’s debt with official creditors puts the ECB’s decision under even greater scrutiny. The fact that the ECB did not share losses in the previous round of Greek debt restructuring highlights the problem of sovereign QE, which is not feasible or will be ineffective if fiscal implications are excluded. The design of the programme is therefore crucial.

By: Guntram B. Wolff, Marcel Fratzscher and Michael Hüther Topic: European Macroeconomics & Governance Date: January 21, 2015
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Opinion

Die EZB ist verpflichtet, ihr Mandat zu erfüllen

Die Sorgen über die Auswirkungen und die Effektivität des Programms sind groß. Die EZB muss vorsichtig die Kosten und Risiken – vor allem die Umverteilung von fiskalischen Risiken – gegen die Vorteile ihrer Geldpolitik abwägen. Ein gut durchdachtes Programm kann jedoch erfolgreich sein. Der Schlüssel für seinen Erfolg liegt bei seiner glaubwürdigen Ausgestaltung.

By: Guntram B. Wolff, Marcel Fratzscher and Michael Hüther Topic: European Macroeconomics & Governance Date: January 19, 2015
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Opinion

Taking the mandate of the ECB seriously

The ECB must achieve price stability in the euro area and contribute to the general economic objectives of the Union, if its price stability mandate allows. At the same time it is also clear that governments continue to bear responsibility. 

By: Marcel Fratzscher, Michael Hüther and Guntram B. Wolff Topic: European Macroeconomics & Governance Date: February 13, 2014
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Blog Post

Konnen Euro-Bonds den Euro retten?

A version of this op-ed was published in Die Zeit Zwei Okonomen, zwei Meinungen: Jakob von Weizsacker zieht gemeinsame Anleihen der Euro-Lander immer neuen Rettungsschirmen vor. Michael Huther halt dagegen und warnt: Solche Papiere reizen erst recht zum Schuldenmachen Pro Euro-Bonds sind weder Teufelszeug noch Allheilmittel. Aber sie konnten zu einem zentralen Baustein fur die […]

By: Jakob von Weizsäcker and Michael Hüther Topic: European Macroeconomics & Governance Date: August 24, 2011