KfW Research Teams

    Welcome to KfW Research

    Three teams of experts ensure that analyses from KfW Research are always of the highest standards.

    Team SME and Competitiveness

    This team focuses on small and medium sized enterprises (SME), innovations, internationalisation, start-ups, education and demographics. Both current and structural developments, as well as comprehensive trends such as digitalisation are priorities here. Investment and financing also play an important role. Our analyses and evaluations form the basis of our surveys, such as the KfW SME Panel or the KfW Entrepreneurship Monitor.

    Further information on these topics can be found here:

    Your point of contact:

    Dr Vivien Lo
    Team Leader
    +49 69 7431-4852

    Dr Jennifer Abel-Koch
    Internationalisation and International SME Comparisons
    +49 69 7431-9592

    Charlotte Abraham
    Editor KfW Research
    +49 69 7431-4104

    Bettina Apfelbach
    Editor KfW Research
    +49 69 7431-2186

    Albrecht Bauer
    Economic Trends and Funding Policies
    +49 69 7431-3146

    Dr Juliane Gerstenberger
    SMEs and Corporate Financing
    +49 69 7431-4420

    Dr Elisabeth Grewenig
    SMEs with a focus on climate protection
    +49 69 7431-55722

    Dr Georg Metzger
    Start-ups, KfW Entrepreneurship Monitor, Venture Capital
    +49 69 7431-9717

    Dr Michael Schwartz
    SMEs, SME Financing, KfW SME Panel
    +49 69 7431-8695

    Dr Steffen Viete
    Start-ups, Venture Capital
    +49 69 7431-68019

    Dr Volker Zimmermann
    Innovation – Activity, Financing and Promotion
    +49 69 7431-3725

    Team Energy, Environment and Municipalities

    The Energy, Environment and Municipalities Team conducts economic analyses and evaluations relating to climate change, the energy turnaround ("Energiewende"), the protection of resources and the environment, as well as the future-oriented adapation of infrastructure, particularly at municipal level.

    Specifically we focus on the modification of the energy system, the further development and integration of renewable energy sources, energy efficiency in buildings and businesses, as well as the financing of municipal infrastructure and the state of municipal finances. We not only look at developments in Germany but also at European and international trends.

    Further information on these topics can be found here:

    You point of contact:

    Dr Karsten Kohn
    Team Leader
    +49 69 7431-4473

    Dr Stephan Brand
    Municipal Finances, KfW Municipal Panel, Urban Development
    +49 69 7431-6257

    Anke Brüggemann
    Renewable Energy, Energy Efficiency in Businesses, Resource Efficiency
    +49 69 7431-1736

    Dr Daniel Römer
    Energy Efficiency in Residential and Non-Residential Buildings, Mobility and Transportation
    +49 69 7431-6326

    Dr Johannes Rode
    Climate policy, Sustainability und Sustainable Finance
    +49 69 7431-40496

    Dr Johannes Salzgeber
    Municipal Investment, Federal Finance System, Municipalities and Digitalisation
    +49 69 7431-2306

    Team Macro and Global Economics

    The Macro Team analyses, forecasts and evaluates economic and structural developments and trends in Germany, Europe, USA and other industrialised and emerging countries. This also includes monitoring international capital markets, including forecasts for interest and exchange rates, as well as structural changes on the German and European banking markets. We also analyse and forecast investment behaviour and patterns, as well as credit market developments in both Germany and the Euro Area.

    Further information on these topics can be found here:

    Your point of contact:

    Dr Vera Schubert
    Team Leader
    +49 69 7431-4220

    Dr Klaus Borger
    Economic and Structural Topics Germany, SME Economy
    +49 69 7431-2455

    Alexander Fanous
    Capital Market Monitoring Euro Area/USA, Interest Rate Forecasts
    +49 69 7431-4007

    Dr Jenny Körner
    Eurozone/EU, German and European Credit Market/Banking
    +49 69 7431-57189

    Dr Julia Kubny
    Africa, vKC Development Economics
    +49 69 7431-8567

    Hannah Levinger
    Developing and Emerging Countries, Global Economy, Sustainable Finance, Climate
    +49 69 7431-5717

    Martin Müller
    Labour and Housing Markets Germany
    +49 69 7431-3944

    Dr Philipp Scheuermeyer
    Economic and Structural Topics Germany/Euro Area, SME Economy
    +49 69 7431-4017

    Stephanie Schoenwald
    Monetary Policy, Euroraum/USA, Interest Rate Forecast, German and European Credit Market/Banking
    +49 69 7431-6446

    Dr Katrin Ullrich
    Developing and Emerging Countries, China, Global Economy, International Value Added and Trade
    +49 69 7431-9791

    Newsletter KfW Research

    We would be happy to provide you with regular updates from KfW Research.



    KfW Research, KfW Group, Palmengartenstrasse 5-9, 60325 Frankfurt, Germany,

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