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Gerome Wolf

International & European Relations

Division: EU Institutions & Fora
Current Position: Externals
Fields of interest: Macroeconomics and Monetary Economics,Financial Economics,International Economics
Email: Gerome.Wolf@ecb.europa.eu

Biography

Other current responsibilities: 2023-2026
Junior Economist, Business Cycle Analysis and Forecasting Division, ifo Institut, Munich, Germany
Education: 2022-2026
PhD in Economics, Ludwig-Maximilians-University, Munich, Germany; 2023-2024
Visiting Scholar, NYU Stern School of Business, New York City, United States; 2020-2022
MSc in Economics, Humboldt University Berlin, Germany; 2018-2020
MSc in Economics, University College London, United Kingdom; 2014-2018
BSc in Economics, Humboldt University Berlin, Germany
Professional experience: 2024-2025
Research Fellow, Allianz Group Economic Research, Munich, Germany; 2021-2022
Predoctoral Researcher, ifo Institute, Munich, Germany; 2021-2021
Research Assistant Trainee, DG/R (MPR), European Central Bank, Frankfurt/Main, Germany; 2019-2020
Research Associate, Technologiestiftung Berlin, Germany; 2019-2019
Research Internship Capital Markets Analysis, Deutsche Bundesbank, Frankfurt/Main, Germany; 2017-2018
Working Student Business Intelligence, HelloFresh SE, Berlin, Germany; 2017-2017
Internship Corporate Finance / M&A, Saxenhammer & Co., Berlin, Germany; 2017-2017
Internship Macroeconomic Research, Berenberg Bank London, United Kingdom
Awards: 2025
Young Scientist, 8th Lindau Nobel Meeting in Economic Sciences; 2024
ifo Transfer Prize; 2015
Full scholarship of the German Academic Scholarship Foundation
Teaching experience: 2025-2026
Money, Credit, and Currency, Ludwig-Maximilians-University, Germany; 2024
Tax and Fiscal Policy, Ludwig-Maximilians-University, Germany; 2024
Data Science and Machine Learning for Economic Research, ifo Institute, Germany; 2023
Econometrics in R, Ludwig-Maximilians-University, Germany; 2021
Coding-Bootcamp: Introduction to Webscraping with Python, University of Potsdam, Germany

ECB publications

4 August 2026

ECONOMIC BULLETIN - BOX

Europe’s venture capital gap and the financing of high-growth firms

Economic Bulletin Issue 5, 2026

English

Abstract: This box examines EU venture capital market developments and the implications for firm financing and growth. Venture capital in the EU remains limited in scale and fragmented across national markets, with gaps particularly evident at later stages of financing where they are partially filled by non-EU investors. Although venture capital from outside the EU can help firms expand, a strong reliance on external investors may reduce Europe’s ability to retain the economic gains generated by its entrepreneurial ecosystem. At the same time, venture capital in Europe appears broadly well targeted towards high-performing firms, suggesting significant potential to support growth. Policy action to deepen and integrate the EU venture capital ecosystem can therefore help strengthen the EU economy.
JEL Code: E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
E22 : Macroeconomics and Monetary Economics→Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy→Capital, Investment, Capacity
O16 : Economic Development, Technological Change, and Growth→Economic Development→Financial Markets, Saving and Capital Investment, Corporate Finance and Governance
G28 : Financial Economics→Financial Institutions and Services→Government Policy and Regulation
F36 : International Economics→International Finance→Financial Aspects of Economic Integration

External publications

2026

EconPol Europe Report

When Do Firms Invest Green? Carbon Prices, Uncertainty, and Policy Credibility