Homburg studied economics, philosophy, and mathematics. He graduated from Cologne University in 1985, where he also earned his doctoral degree in 1987. Subsequently, he was Professor of Economics at University of Bonn and University of Magdeburg, before he moved to Hannover. Homburg declined outside offers from University of Tübingen and University of Cologne.
Homburg's research focuses on macroeconomics and public finance. At the age of 23, he co-authored an international bestseller in macroeconomics that was published in seven languages. Other publications address topics in monetary policy, social security, tax law, and business taxation.
Homburg served as a member of several policy committees, including the Advisory Council at the Federal Ministry of Finance, the Federal Constitutional Commission (Bundesstaatskommission), and the Federal Government's Council for Sustainable Developments (RNE). Between 1999 and 2007, he acted as Dean of Hannover's School of Economics and Management. From 1996 until 2003, he was editor of journals of the German Economic Association (Verein für Socialpolitik).
- A Study in Monetary Macroeconomics, Oxford University Press 2017, ISBN 978-0-19-880753-7.
- Allgemeine Steuerlehre, 7th ed. Vahlen 2015, ISBN 978-3-8006-4922-8.
- Compulsory Savings in the Welfare State. Journal of Public Economics 77, 2000, pp. 233–239.
- Interest and Growth in an Economy with Land. Canadian Journal of Economics 24, 1991, pp. 450–459.
- Coping With Rational Prodigals. Economica 73, 2006, pp. 47–58.
- Explaining the Rise and Decline of the Dollar Kyklos 43, 1990, pp. 53–68 (mit J. Hoffmann).
- Property Taxes and Dynamic Efficiency: A Correction. Economics Letters 123, 2014, pp. 327–328.
- The Efficiency of Unfunded Pension Schemes. Journal of Institutional and Theoretical Economics 146, 1990, pp. 640–647.
- Overaccumulation, Public Debt and the Importance of Land. German Economic Review 15, 2014, pp. 411–435.
- Competition and Co-ordination in International Capital Income Taxation. FinanzArchiv 56, 1999, pp. 1–17.
- What Caused the Great Recession? Review of Economics 66, 2015, pp. 1–12.