SAFE Policy Lecture: Ludger Schuknecht (OECD)
Title: Fiscal Financial Vulnerabilities
Speaker: Ludger Schuknecht, Deputy Secretary-General, OECD
Moderator: Jan Pieter Krahnen, SAFE and Goethe University
Ludger Schuknecht is the author of the research paper “Fiscal Financial Vulnerabilities” (2019) which provides the background for the lecture. In this paper, he analyses the linkages from financial developments to public finances. Schuknecht´s paper maps and discusses the transmission to fiscal variables via asset prices, financing conditions, balance sheets of banks, non-banks and central banks and international channels. It argues that the fiscal effects via all these channels can be very serious in magnitude. Fiscal risks from market-based finance and compound risks are particularly poorly understood.
Ludger Schuknecht took up his duties as Deputy Secretary-General in September 2018. He is responsible for the strategic oversight of the OECD’s work on statistics and data, tax policy and administration, for the OECD’s work on education and skills as well as the OECD engagement with the G20 Compact with Africa initiative.
Previously, Mr. Schuknecht worked at the German Federal Ministry of Finance as Chief Economist and as the German G20 Finance Deputy. In this position, he was responsible for coordinating the finance track during the German G20 Presidency and played a key role in launching the G20 work on digital taxation and the G20 Compact with Africa. His career in international organizations also includes the European Central Bank, the World Trade Organization and the International Monetary Fund.
Jan Pieter Krahnen is Director of the Center for Financial Studies and the Research Center SAFE. His research focuses on banking, systemic risk and financial market regulation. Krahnen is a member of the Academic Advisory Board of the German Federal Ministry of Finance and of the European Finance Association (EFA). He was a member of the High-Level Expert Group on Structural Reform of the EU Banking Sector (Liikanen Commission) and also a member of the Issing-Commission, advising the German government on the G-20 meetings 2008-2011.
The SAFE Policy Lecture Series aims at fostering debates on policy-relevant issues. We would be pleased to welcome you to this lecture.