[2] German business newspaper, Handelsblatt, referred to the institute as "Germany's most influential economic think tank", while Die Welt, stated that "The best economists in the world are in Kiel" ("Die besten Volkswirte der Welt sitzen in Kiel").

The current president of the institute[6] is Moritz Schularick, a German economist who specializes in macrofinance, banking and financial stability, international finance, political economy, and economic history.

'Royal Institute for Maritime Transport and World Economics at the University of Kiel') on 18 February 1914, and opened two days later at the address Schlossgarten 14.

Formally, he retained his professorship at the University of Kiel, but was actually only active academically as an honorary professor in Berlin until his death in 1939.

Harms was succeeded by Jens Jessen, who, because of differences with the Nazis, had himself transferred to the University of Marburg in October 1934.

[9] Friedrich Hoffmann was temporarily appointed to replace Predöhl as the acting director of the institute and was succeeded, in 1948, by Fritz Baade (1893–1974), who devoted himself primarily to research in agricultural economics and food security.

Under his leadership and thanks to his good connections in the United States and other countries, he was able to reintegrate the institute into the international research community and to expand its role as an important economic research center with its own large library and its own archive of press clippings.

As the leading proponent of Keynesianism in Germany at the time and the author of a multivolume bestseller entitled "Einführung in die Volkwirtschaftslehre" (Introduction to Economics), he affiliated the institute more closely with the University of Kiel, which resulted in many researchers at the institute becoming professors at German and non-German universities.

The first person to be awarded the prize, Gerhard Colm, was a former researcher at the institute, a professor, an advisor to President Truman, and the engineer of the German currency reform in 1948.

Numerous macroeconomic changes and geopolitical, which determined the institute's research and policy-advising activities, took place during his period in office: the collapse of the Bretton Woods system, the rise in oil prices, and the increased manufacturing in developing countries and emerging markets.

Numerous economic sea changes also took place during his period in office: communist economies collapsed, the two Germanys were reunited, China became a world economic power, information technology emerged, and reforms of the labor market and social security systems became topical, as did the sustainable use of environmental resources as well.

Further, he defined the institute's public image by often appearing on television and by publishing numerous articles and monographs on topical economic issues.

After a period of 18 months in which the institute had difficulties appointing a new president, Dennis J. Snower (born 1950) succeeded Siebert.

[13] The goal of the summit is to discuss solutions to urgent global problems and present a range of policy recommendations for international organizations.

At the 2017 summit in Berlin, the institute presented a number of recommendations for the G-20 and G-7 concerning the digital economy, climate policy, international finance, and migration.

The 2018 summit had many notable guests, including Chancellor Angela Merkel and Nobel Laureate Edmund Phelps.

Since 2005, the award ceremony has been held annually at the Haus der Wirtschaft building of the Chamber of Commerce and Industry.

[16] It serves to inspire creative solutions to present-day economic challenges and to influence change in politics, business, and academia.

The award ceremony lectures are published in the institute's internationally renowned journal, Review of World Economics.

Many postdocs continue on to work for government organizations (the European Central Bank, Swiss National Bank, the German federal ministries), or take up positions in academia in Germany, the United Kingdom, and the United States[22] Kiel Institute Summer School offers a series of lectures each year to leading researchers on topics of macroeconomics and finance.

[22] In conjunction with its lectures, the institute hosts a number of seminars and workshops for scholars to collaborate on projects and share results findings.

The seven key research areas are: The institute brings together a number of scholars, professors, and policymakers from around Germany and the world.

[30][31][32][33] The institute's publication serve stakeholders in both the public and private sectors, as well as those with an interest in domestic and international economic policy[1] Since 1913, the institute publishes has published its own peer-reviewed journal, the Review of World Economics (Weltwirtschaftliches Archiv).

[34] The institute is affiliated with the University of Kiel where it cooperates closely with the department of business, Economics, and Social Sciences.

The aim of the T20 is to publish policy briefs, engage policymakers through task forces, and host a number of workshops and conferences.