astronomy

Martin Hellwig

Martin Hellwig is a astronomy topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Martin Hellwig rather than just read about it. In short: Martin Friedrich Hellwig (born 5 April 1949) is a German economist. He has been the director of the Max Planck Institute for Research on Collective Goods from 2004 to 2017.

Key takeaways

Martin Hellwig belongs to astronomy; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Martin Hellwig to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Martin Hellwig from memory before moving on to harder problems.

Reference excerpt

Martin Friedrich Hellwig (born 5 April 1949) is a German economist. He has been the director of the Max Planck Institute for Research on Collective Goods from 2004 to 2017. Between 2000 and 2004, he was the head of the German Monopolkommission.

Education and career Hellwig studied economics at the University of Heidelberg, where he received his diploma in 1970. He completed his Ph.D. in economics under Peter Diamond at Massachusetts Institute of Technology. From 1974 to 1977, Hellwig was an assistant professor of economics at Princeton University. He then returned to Germany as Associate Professor of Economics at the University of Bonn from 1977 to 1979, becoming a full Professor of Economics there from 1979 to 1987. He subsequently held a professorship at the University of Basel from 1987 to 1996. From 1996 to 2004, he was Professor of Economics at the University of Mannheim. During his time in Basel, Hellwig also held visiting positions including the Bogen Visiting Professorship at Hebrew University of Jerusalem in 1994 and the Taussig Research Professorship at Harvard University from 1995 to 1996.

Work For many years, Hellwig was one of the most prolific and influential German economists in terms of research. In 2009, Frankfurter Allgemeine Zeitung author Gerald Braunberger described him as "perhaps the most respected German economist." He is listed in the American "Who's Who in Economics." On May 1, 2011, Hellwig became Chairman of the European Systemic Risk Board. As of July 2018, he is one of its two vice-chairmen. His book, co-authored with Anat R. Admati, *The Bankers' New Clothes*, on the necessity and possibilities of stricter bank regulation, was positively received: Gerald Braunberger called it a "masterpiece."

Honors and awards Hellwig is a fellow of the European Economic Association and the Econometric Society. Since 1990, he was an elected member of the Academia Europaea. In 2002, he became the inaugural fellow of the European Corporate Governance Institute.

Selected publications Blum, Jürg; Hellwig, Martin (1995). "The macroeconomic implications of capital adequacy requirements for banks". European Economic Review. 39 (3–4): 739–749. doi:10.1016/0014-2921(94)00081-A. Pissarides, Christopher; Layard, Richard; Hellwig, Martin (1986). "Unemployment and Vacancies in Britain". Economic Policy. 1 (3): 500–559. doi:10.2307/1344583. ISSN 0266-4658. Gale, Douglas; Hellwig, Martin (1985). "Incentive-Compatible Debt Contracts: The One-Period Problem". The Review of Economic Studies. 52 (4): 647–663. doi:10.2307/2297737. ISSN 0034-6527.

References

External links Website at Max Planck Institute for Research on Collective Goods

Illustrations

Worked examples

Example 1 — a first encounter with Martin Hellwig

Start with the simplest possible case. Write down what Martin Hellwig claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In astronomy, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Martin Hellwig before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Martin Hellwig ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Martin Hellwig

In research: Martin Hellwig appears in astronomy research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Martin Hellwig in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Martin Hellwig is common in secondary-school and first-year university syllabi. It links to neighbouring topics 1949 births, 20th-century German economists, 21st-century German economists, so understanding it makes those chapters shorter.
In everyday life: Look for Martin Hellwig outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

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How to study Martin Hellwig in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Martin Hellwig means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Martin Hellwig out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Martin Hellwig in simple terms?

Martin Friedrich Hellwig (born 5 April 1949) is a German economist. He has been the director of the Max Planck Institute for Research on Collective Goods from 2004 to 2017.

Why does Martin Hellwig matter?

Because it connects several astronomy ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Martin Hellwig?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Martin Hellwig.