The Reverse Revolving Door in the Supervision of European Banks
Stefano Colonnello, Michael Koetter, Alex Sclip, Konstantin Wagner
International Journal of Central Banking,
forthcoming
Abstract
We assemble data about executives on the boards of national supervisory authorities (NSA) in European banking, which reveal that 40% have an employment history in the financial industry. Appointment patterns to NSA boards differ substantially across countries. Generally, the appointment of former finance professionals as prudential supervisors is inconsequential for banks‘ valuations, capitalization, and asset growth. The exception are positive, but short-lived valuation effects for those banks whose alumni are appointed as executives of directly responsible NSA boards. Circumstantial evidence suggests that a “proximity bias“ is a more likely driver of this effect inste
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02.09.2026 • 24/2026
Launch of the European Real Estate Index (EREI): German housing prices continue to rise more slowly than in Europe
Growth in asking prices for German residential properties offered for sale has lagged the European EREI aggregate since spring 2025. This is shown by the new European Real Estate Index (EREI) presented today by the Halle Institute for Economic Research (IWH). This novel data service hinges on more than 43 million listings on online real estate platforms and provides monthly comparisons of residential asking prices and advertised rents across 1,154 European regions in near-real-time.
Michael Koetter
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A Rear-mirror View to the 11th FIN-FIRE “Challenges to Financial Stability” Workshop
Erik Ködel, Michael Koetter
Wirtschaft im Wandel,
No. 3,
2025
Abstract
On September 25th, financial economists from all over the world travelled for the 11th time to Halle (Saale) to attend the annual FIN-FIRE Workshop at IWH. During two days, authors of ten papers covered a comprehensive overview of contemporary issues that pose potential challenges to the financial system, including data privacy in mortgage markets, climate risks in bond markets, synthetic risk transfers, the effects of geopolitical risks for lending, as well as granular perspectives on the transmission of monetary policy. An intense exchange of thoughts between authors, discussants, and the audience yielded genuinely new insights into the resilience and fragility of financial systems.
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Placement News
Placement News IWH-DPE graduate placements 2026: Max-Planck and WZB Berlin Patrick Nüß joined in 2024 the Department of Structural Change and Productivity at the Halle Institute…
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Job Market Candidates
Job Market Candidates Dennis C. Hutschenreiter Dennis C. Hutschenreiter is a Postdoctoral Researcher in the Department of Financial Markets at the Halle Institute for Economic…
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IWH-DPE in a Nutshell
IWH-DPE in a Nutshell The IWH Doctoral Programme in Economics (IWH-DPE) is the unit that organises the education of doctoral students at the IWH in close cooperation with partner…
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Research Articles
Research Articles Explore cutting-edge research based on CompNet’s micro-aggregated firm-level data and related analytical tools. These articles cover empirical and theoretical…
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The Network
About IWH CompNet The Competitiveness Research Network (CompNet) is a leading European research initiative dedicated to advancing the understanding of competitiveness and…
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10th Vintage
The CompNet 10th Vintage Dataset 10th Vintage dataset is now available! The CompNet dataset provides a comprehensive set of micro-aggregated indicators, specifically designed to…
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Brown Bag Seminar
Brown Bag Seminar Financial Markets Department The seminar series "Brown Bag Seminar" was offered on a regular basis by members of the Financial Markets department and their…
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