_____________________________________________________________________ _____________________________________________________________________ Z E W - N E W S L E T T E R E N G L I S H E D I T I O N Nr. 2011-06 vom 07.07.2011 (Beatrix Immig, newsletter-en at zew.de ) http://www.zew.eu _____________________________________________________________________ _____________________________________________________________________ Content 1. NEWS 2. STAFF 2.1. Visiting Researchers 3. PRESS RELEASES 4. RECENT PUBLICATIONS IN ENGLISH LANGUAGE 4.1. ZEWnews English edition 4.2. Financial Market Report Switzerland 4.3. Financial Market Report CEE 4.4. Discussion Papers IN GERMAN LANGUAGE 4.5. ZEW Finanzmarktreport (ZEW Financial Market Report) 4.6. ZEW Wachstums- und Konjunkturanalysen (ZEW Growth and Business Cycle Analysis) 5. NEW RESEARCH PROJECTS 6. EVENTS 6.1. Scientific Events _____________________________________________________________________ 1. NEWS 29.06.2011 Conference on "Basel III and Beyond: Regulating and Supervising Banks in the Post-Crisis Era", 19 and 20 October 2011 in Eltville: The conference is jointly organised by the Deutsche Bundesbank and the Centre for European Economic Research (ZEW). It will focus on the banking sector and its regulatory environment as well as on the role of banks in the development of the real economy. Furthermore, the conference objective is to discuss how systemic risk develops and how it can be measured. Research works combining regulatory incentives and systemic risk as well as risk management by banks will be presented. The conference, which will be held in English, is open to all researchers working in this field. Additional information on the conference can be found here: http://www.zew.de/event1472 22.06.2011 Mannheim Corporate Tax Day 2011: National and International Tax Planning for Partnerships: On 21 June 2011, more than 100 guests attended the annual Mannheim Corporate Tax Day 2011 hosted by ZEW and the University of Mannheim. Once again, the event featured many renowned speakers from the worlds of academia, business, and financial administration. Read more: http://www.zew.de/news1750 20.06.2011 Conference of the Leibniz Network ReCapNet: On 14 and 15 October 2011, the third interdisciplinary conference of the Leibniz Network on Real Estate Markets and Capital Markets (ReCapNet) will take place at ZEW in Mannheim. ReCapNet focuses on the interactions between real estate markets and capital markets. Researchers from different disciplines, and with different methodological approaches, analyse the importance of international capital markets for real estate markets. Aims of the network include, but are not limited to: assessing the consequences of financial market conditions for housing and commercial real estate markets; development opportunities and financial markets; and the stability of real estate and capital markets. Additional information on the conference and the Leibniz Network can be found here: http://www.recapnet.org/ 16.06.2011 Q&A: ZEW Strengthens Its International Profile - Worldwide Networking with the Professional Community Is a Continuous Goal at ZEW: ZEW has been working to strengthen its international presence in a variety of ways: by engaging in research projects that focus on global issues, by acquiring clients from all over the world, and by maintaining contacts with outstanding researchers in many nations. Thomas Kohl, the Director of Business and Administration at ZEW, explains the progress that has been made in the internationalisation of the Institute's activities. Read the complete interview here: http://www.zew.de/news1752 08.06.2011 Economists from Argentina Visit ZEW: On 7 June 2011, a delegation from Argentina visited ZEW. The professors of the National University of Misiones and the National University of Cuyo exchanged views with ZEW employees on the Institute's key research interests and discussed a possible future cooperation in joint research projects. The delegation was accompanied by an employee of Baden-Wuerttemberg International, the Agency for International Economic and Scientific Cooperation of the federal state of Baden-Wuerttemberg. Read more: http://www.zew.de/news1745 06.06.2011 ZEW President Wolfgang Franz on the Topic of "Climate Protection for All?": Predictions about future economic growth are not the only ones fraught with significant uncertainties. The natural sciences are also susceptible to errors resulting from erroneous predictions - and perhaps with even more dramatic consequences. Epidemiologists, for example, promulgated horror scenarios regarding the fatalities that would result from the impending spread of mad cow disease and swine flu. Afterwards, thank God, we learned that their predictions had been off the mark. But should we place all our bets on the chance that scientists are mistaken once again when it comes to climate change, simply because their predictions are controversial, even among climate experts? This would be an exceedingly risky strategy. Read more: http://www.zew.de/news1743 01.06.2011 Prof. Dr. Hannes Rehm Speaks at ZEW: On 31 May 2011, Prof. Dr. Hannes Rehm, spokesman of the German Federal Agency for Financial Market Stabilisation, gave a speech on the causes and consequences of the financial crisis within the Mannheim Economics and Currency Dialogues series at ZEW. ZEW President Prof. Dr. Dr. h.c. mult. Wolfgang Franz welcomed around 150 guests to the event. The Mannheim Economics and Currency Dialogues series focuses on topics regarding the banking industry and is supported by the association of banks Rhein-Neckar Mannheim (Bankenvereinigung Rhein-Neckar Mannheim). Read more: http://www.zew.de/news1740 News can also be found here: http://www.zew.de/news 2. STAFF 2.1. Visiting Researchers Wolfram Schlenker, PhD, Visiting Researcher at ZEW: >/From 20 to 24 June 2011 and from 4 to 15 July 2011, Wolfram Schlenker /is visiting researcher at the ZEW research department "Environmental and Resource Economics, Environmental Management". He is assistant professor at the School of International and Public Affairs of Columbia University, New York. His research interests include the economics of climate change, water rights, and their impact on agricultural output, as well as models of exhaustible resources with endogenous discoveries. He holds a PhD in Agricultural and Resource Economics from the University of California, Berkeley. During his research stay, Wolfram Schlenker is working on renewable energies in Germany. Additional information on Wolfram Schlenker, PhD, can be found here: http://www.columbia.edu/~ws2162 3. PRESS RELEASES 24.06.2011 - ZEW/Erste Group Bank (zil/ggr) ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe Including Turkey (CEE) - Central and Eastern European Countries: Plunge of Economic Expectations: The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) decreases by 23.4 points to minus 2.5 points in June 2011. Read more: http://www.zew.de/press1753 22.06.2011 - ZEW/CS (lja/kbo) ZEW-CS Financial Market Test Switzerland - Economic Outlook Diminishes once Again: Economic expectations for Switzerland have diminished for the second month in a row. The ZEW-CS Indicator has dropped by 12.8 points to the minus 24.3 mark in June. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. Read more: http://www.zew.de/press1751 21.06.2011 - ZEW (cdi/fmo/kbo) ZEW Indicator of Economic Sentiment - Expectations Considerably Weaker: The ZEW Indicator of Economic Sentiment for Germany has dropped by 12.1 points in June 2011. The indicator now stands at minus 9.0 points. This value is below the indicator's historical average of 26.3 points. Read more: http://www.zew.de/press1749 15.06.2011 - ProgTrans/ZEW (che/kbo) ProgTrans/ZEW TransportmarktBarometer (Transport Market Barometer) - Moderate Outlooks for Growth Rate in Freight Traffic: The catch-up effect visible in freight traffic after the economic and financial crisis continues to decrease in the next six months. The transport volume is still expected to rise but the intensity varies in the individual transport sectors. Due to the currently high petrol prices, in particular prices in road and air transport will increase. These are the main findings of the ProgTrans/ZEW TransportmarktBarometer (Transport Market Barometer) in the second quarter of 2011. Every quarter, ProgTrans AG, Basel, together with the Centre for European Economic Research (ZEW), survey around 300 transport market experts on their assessments of the future development of the transport markets and prices during the next six months. Read more: http://www.zew.de/press1747 All press releases can be found here: http://www.zew.de/en/press/latest 4. RECENT PUBLICATIONS IN ENGLISH LANGUAGE 4.1. ZEWnews English edition The third issue of the ZEWnews English edition in 2011 contains articles on: * Regional transfers augment the positive attitude of citizens toward the European Union * Leniency policies stimulate competition * International R&D results in higher returns * Moderate employment growth in the service sector due to IT outsourcing * Venture capital investors use worldwide cross-border cooperation to overcome distances * Q&A: How well do rating agencies perform? A government agency should be formed as a competitor to private credit-rating agencies * "Super E10": An economic assessment * Opinion regarding promises to pay Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/zn/en/zn032011.pdf This edition contains the M&A report, which includes the following articles: * Revitalisation of the German M&A market * China's interest in the financial sector undimmed * Merger plans of stock exchange operators * Takeover rumours at ProSiebenSat.1 * Cartel collapses and M&A activity * Private equity investors do not increase bankruptcy risks Download as PDF-file (German only) (*): http://ftp.zew.de/pub/zew-docs/zn/en/schwerpunkte/ma-report/mareport_062011.pdf 4.2. Financial Market Report Switzerland Financial Market Report Switzerland July 2011: * Economic outlook diminishes once again * Eurozone: Inflation expectations still falling * USA: Present economic picture is worsening * Japan: Slightly more skeptical economic outlook * Great Britain: Inflation forecasts slightly higher * Special question: Swiss real estate market Download as PDF-file (*): http://www.zew.de/en/publikationen/finanzmarktreportschweiz/legalnote.php?target=FMTSchweiz072011.pdf 4.3. Financial Market Report CEE Financial Market Report CEE July 2011: * Decrease in economic expectations for Central and Eastern Europe in June * Czech Republic, Poland, and Slovakia: Positive current economic situation * Croatia, Hungary and Romania: Bullish stock market sentiments * Turkey: Economic sentiments reveal pessimism * Special question: Liquidity on financial markets in the CEE region Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/fmt_cee/FMTCEE072011.pdf 4.4. Discussion Papers 11-042 Benjamin Engelstaetter; A. Scott Cunningham; Michael R. Ward Understanding the Effects of Violent Video Games on Violent Crime Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/dp/dp11042.pdf 11-041 Florian Misch; Norman Gemmell; Richard Kneller Growth and Welfare Maximization in Models of Public Finance and Endogenous Growth Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/dp/dp11041.pdf 11-040 Peter Heindl The Impact of Informational Costs in Quantity Regulation of Pollutants: The Case of the European Emissions Trading Scheme Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/dp/dp11040.pdf 11-039 Tim Paul Thomes An Economic Analysis of Online Streaming: How the Music Industry Can Generate Revenues from Cloud Computing Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/dp/dp11039.pdf 11-038 Friedrich Heinemann; Friedrich Schneider Religion and the Shadow Economy Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/dp/dp11038.pdf 11-037 Thorsten Drautzburg; Harald Uhlig Fiscal Stimulus and Distortionary Taxation Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/dp/dp11037.pdf 11-036 Sascha Rexhaeuser; Christian Rammer Unmasking the Porter Hypothesis: Environmental Innovations and Firm-Profitability Download as PDF-file (*): http://ftp.zew.de/pub/zew-docs/dp/dp11036.pdf IN GERMAN LANGUAGE 4.5. ZEW Finanzmarktreport (ZEW Financial Market Report) ZEW Financial Market Report July 2011: * Expectations drop significantly * ECB: Experts lower inflation expectations * USA: Economic situation deteriorates * Japan: Rise in expectations * Great Britain: Inflation expectations fall * Special question: Probability distribution of stock returns Download as PDF-file (German only) (*): http://ftp.zew.de/pub/zew-docs/frep/072011.pdf 4.6. ZEW Wachstums- und Konjunkturanalysen (ZEW Growth and Business Cycle Analysis): * Economic situation in Germany remains stable * Estimated situation in the EMU * Results of the May 2011 ZEW Financial Market Survey * Service providers of the information society - Deterioration of the business situation discourages economic sentiment * Changes in economic growth and the stability of donations * Lower maximum duration of unemployment benefits and its effects on the unemployment rate * The significance of real estate investments in international investment portfolios * Possible ways out of the Greek debt crisis Download as PDF-file (German only) (*): http://ftp.zew.de/pub/zew-docs/kr/kr1102.pdf (*) Please note: PDF-files can be displayed by using Acrobat-Reader. The software can be downloaded for free: http://www.adobe.de/products/acrobat/readstep2.html 5. NEW RESEARCH PROJECTS Decreasing Wage Mobility in the Low-Wage Sector - Increasing Genuine State Dependence or Composition Effects? http://www.zew.de/project1087 Pricing of Reverse Mortgages http://www.zew.de/project1091 Towards an "Agenda 2030": Strategies to Overcome Reform Resistance http://www.zew.de/project1080 The Economic Importance of Family Enterprises 2011 http://www.zew.de/project1081 Start-Up Promotion Instruments in OECD Countries and Their Application to Developing Countries http://www.zew.de/project1090 Internationalisation of German ICT Companies http://www.zew.de/project1088 Economic Evaluation of Public Investment in R&D and Innovation http://www.zew.de/project1093 SEEK-Project 2011: Incentives and Creativity - Enhancing Innovation in Europe's Knowledge Economies http://www.zew.de/project1084 SEEK-Project 2011: The Effect of (Relative) Wages and Human Capital on Fertility Choices: Lessons From East Germany's Fertility Decline After Unification http://www.zew.de/project1083 Framework Contract with German Federal Ministry of Labour to Deliver Scientific Expertise Concerning Safeguarding the Welfare State and the Future of Labour http://www.zew.de/project1089 6. EVENTS 6.1. Scientific Events 14.07.2011 ZEW Research Seminar: The Effects of Training on Own and Co-Worker Productivity: Evidence from a Field Experiment Speaker: Jan Sauermann (Maastricht University) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1461 21.07.2011 ZEW Research Seminar: Government Guarantees and Bank Risk Taking Incentives Speaker: Christa Hainz (ifo Institut fuer Wirtschaftsforschung) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1470 21.07.-22.07.2011 Workshop: Health and Human Capital Keynote Speaker: Janet Currie (Columbia University) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1385 _____________________________________________________________________ IMPRINT Publisher: Centre for European Economic Research GmbH (ZEW) Mannheim L 7, 1 . 68161 Mannheim / P.O. Box 10 34 43 . 68034 Mannheim . Germany Internet: www.zew.de . www.zew.eu Seat of the company: Mannheim Local Court Mannheim HRB 6554 Chairman of the Supervisory Board: Gerhard Stratthaus, MdL, Minister, ret. Executive Directors: Prof. Dr. Dr. h.c. mult. Wolfgang Franz, Thomas Kohl Editor: Beatrix Immig, Phone +49/621/1235-135, Fax +49/621/1235-222, E-mail: newsletter-en at zew.de Editorial assistant: Laura Piotter Responsibility: Gunter Grittmann, Phone +49/621/1235-132, Fax +49/621/1235-222, E-mail: grittmann at zew.de Legal note: http://www.zew.de/en/impressum/ You can subscribe or cancel your subscription to the newsletter service at any time via the online form at: http://www.zew.eu/newsletter or by sending an e-mail to: zew-newsletter-englishedition-request at mx-assp2.zew.de - Subject: (leave blank!) - Text: subscribe zew-newsletter-englishedition or unsubscribe zew-newsletter-englishedition _____________________________________________________________________ ------------------------------------------------------------------------ * *Messages sorted by:* [ date ] [ thread ] [ subject ] [ author ] ------------------------------------------------------------------------ More information about the Zew-newsletter-englishedition mailing list