_____________________________________________________________________ _____________________________________________________________________ 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 No. 2012-06 June 28, 2012 (Yvonne Braeutigam, newsletter-en at zew.de ) http://www.zew.eu _____________________________________________________________________ _____________________________________________________________________ Content 1. NEWS 2. CALL FOR PAPERS 2.1. MaCCI Law and Economics Conference on Net Neutrality and the Open Internet (October 25-26, 2012, Mannheim, Germany) 3. STAFF 3.1. Awards 3.2. Visiting Researchers 4. PRESS RELEASES 5. RECENT PUBLICATIONS IN ENGLISH LANGUAGE 5.1. ZEWnews 5.2. Financial Market Report Switzerland 5.3. Financial Market Report CEE 5.4. Discussion Papers 5.5. Expertises IN GERMAN LANGUAGE 5.6. ZEW-Wachstums- und Konjunkturanalysen (ZEW Growth and Business Cycle Analyses) 5.7. ZEW-Finanzmarktreport (ZEW Financial Market Report) 5.8. Deutscher Immobilien-Finanzierungsindex(DIFI)-Report (German Real Estate Finance Index (DIFI Report)) 5.9. ZEW-Dokumentationen (ZEW Documentations) 5.10. ZEW-Wirtschaftsanalysen (ZEW Economic Analyses) 5.11. Gutachten/Forschungsberichte (Expertises/Research Reports) 6. NEW RESEARCH PROJECTS 7. EVENTS 7.1. Scientific Events _____________________________________________________________________ 1. NEWS 26.06.2012 Energy Conference 2012 at ZEW: Some 60 energy experts met at the Energy Conference 2012 hosted by the Centre for European Economic Research (ZEW) in Mannheim from June 25 until June 26, 2012. During the two-day conference, researchers and experts from enterprises and organisations discussed topics such as competition in the electricity market, regulation of energy markets, electricity costs as well as innovations and investment options in the energy sector. Read more: http://www.zew.de/news2049 22.06.2012 Dr. Kai Schmidt-Eisenlohr, MdL (Member of the State Parliament), Spokesman for Science Policy of the German Green Party, Visits ZEW: On June 22, 2012, the spokesman for science, research, and innovation of the Green Party (Buendnis 90/die GRUENEN) in the state parliament of Baden-Wuerttemberg, Dr. Kai Schmidt-Eisenlohr, visited ZEW. Through an extensive exchange of information with Thomas Kohl, ZEW Director of Business and Administration, he gained valuable insights into the research work conducted at ZEW and the different areas on which ZEW Research Units focus. Being a member of the European Committee of the Baden-Wuerttemberg State Parliament, Dr. Kai Schmidt-Eisenlohr was especially interested in ZEW's European activities. Based on his every day experience as a Member of Parliament, he underlined the importance of independent economic expertise and the direct exchange with an economic research institute, such as ZEW, for the political sphere. According to Dr. Kai Schmidt-Eisenlohr, this exchange becomes even more significant in light of the complexity of current economic and research policy questions. 21.06.2012 Mannheim Corporation Tax Day (Mannheimer Unternehmenssteuertag): Group Taxation and Group Tax Planning: Some 110 participants attended this year's Mannheim Corporation Tax Day (Mannheimer Unternehmenssteuertag) on June 21, 2012. The annual event is jointly organised by the Centre for European Economic Research (ZEW) and the University of Mannheim. Within the framework of the Mannheim Corporation Tax Day, prestigious presenters from the fields of science, industry, auditing, tax accountancy, and financial administration deal with current issues of national and international corporate taxation. In the focus of this year's event were practice-related questions about tax structuring in groups active on an international level. Read more: http://www.zew.de/news2045 14.06.2012 ZEW Economic Forum 2012 - Perspectives for the Euro: ZEW President Prof. Dr. Dr. h.c. mult. Wolfgang Franz was pleased to welcome approximately 400 guests to the ZEW Economic Forum on Thursday, June 14, 2012, in Mannheim. Renowned political representatives, financial experts, and researchers discussed reasons for and possible solutions to the eurozone debt crisis at the event titled "Perspectives for the Euro". Prof. Dr. Clemens Fuest (Oxford University), Dr. Ulrich Kater (Deka Bank), and Prof. Dr. Manfred Neumann (Bonn University), as well as Prof. Dr. Dr. h.c. Hans-Werner Sinn (ifo Institute) debated on ways leading out of the crisis and on the question of how growth can be stimulated, even when there is no alternative to reducing the states' debt burdens. Read more on the event and view the German video: http://www.zew.de/news2036 12.06.2012 Energy Policy - Keeping an Eye on the Big Picture!: Energy policy has to meet several targets such as security, environmental compatibility, and economic efficiency at the same time. The success of these efforts can be illustrated using only few indices. A transparent and comprehensible concept according to which the numbers are selected is, however, required. Moreover, data is often missing and new indicators have to be developed. This is the finding of a recent study the Centre for European Economic Research (ZEW) in Mannheim conducted on behalf of several associations under the umbrella of the Federation of German Industry (BDI). Read more: http://www.zew.de/news2034 11.06.2012 Delegation from China Visits ZEW: A high-level delegation from the "Development Research Center of the State Council, P.R. China" (DRC) and the "Human Resources Study and Training Center" including representatives from several Chinese provinces and cities visited ZEW on June 11, 2012. Read more: http://www.zew.de/news2033 05.06.2012 ZEW President Wolfgang Franz on "Growth": Like a deus ex machina, growth has mutated into the great hope of 2012. Inspired by the election promises of the new French president, increasing support is being garnered by voices of opposition to German-led austerity who would put an end to ostensibly destructive belt-tightening and return us to the easy days of larger deficits. In this connection, past experience and insights concerning effective growth policies are being largely ignored – and not just at the EU level, where misinformation abounds, from the unsuccessful Lisbon Strategy of 2000 to more recent discussions concerning ‘project bonds' that would be granted by the European Investment Bank. One cause for consternation is the frequent confusion between business cycles and growth. Read more: http://www.zew.de/news2030 31.05.2012 Opening Event of "The Economics of Science" at ZEW: Researchers from many different fields attended the opening event of "The Economics of Science" on Thursday, May 31, 2012, and Friday, June 1, 2012, at the Centre for European Economic Research (ZEW) in Mannheim. Read more: http://www.zew.de/news2027 30.05.2012 Questions & Answers: Why Does Germany Fail to Attract Foreign Skilled Workers? - Germany Needs a More Welcoming Culture: Various measures aimed at encouraging direly needed skilled workers to immigrate to Germany have not been successful to date. Dr. Holger Bonin, a labour market expert at ZEW, explains what firms can do to attract foreign workers without having to rely on government programmes. Read the complete interview: http://www.zew.de/news2008 For current news, please visit: http://www.zew.de/news 2. CALL FOR PAPERS 2.1. MaCCI Law and Economics Conference on Net Neutrality and the Open Internet (October 25-26, 2012, Mannheim, Germany): The MaCCI Law and Economics Conference on Net Neutrality aims to provide a platform for discussion between researchers and practitioners in state authorities, legal counsel, and economic consultancies. The conference is scheduled for October 25-26, 2012, in Mannheim, Germany. We welcome submissions with a legal or economic perspective on net neutrality, NGN rollout, quality of service, discrimination on the Internet, and search neutrality. Full papers as well as extended abstracts may be submitted. Please submit papers to macciLawandecon at gmail.com as doc or pdf file no later than June 30, 2012. Proposals must be in English. We particularly encourage young researchers to submit proposals. Additional information and Call for Papers: http://www.macci.eu 3. STAFF 3.1. Awards ZEW Researchers Receive Sakip Sabanci International Research Award 2012: The ZEW Study "The Effectiveness of Countercyclical Fiscal Policy in Turkey During the Recent Economic Crisis - Evidence from a Natural Experiment" received the Sakip Sabanci International Research Award 2012. The authors of the paper, ZEW Researchers Florian Misch, PhD, and Dr. At?l?m Seymen, received the award, which includes an endowment of 20,000 USD, during a ceremony in Istanbul in June 2012. The topic of the 2012 competition was "Performance of the Turkish Economy during Global Crises". Using an innovative statistical approach, the awarded paper analyses the effects of a temporary consumption tax cut, implemented by the Turkish government during the 2009 global economic crisis, on firm sales. The research findings show positive effects of consumption tax cuts on firm sales. This is consistent with predictions of the theory, thereby providing new evidence on the effects of a specific countercyclical fiscal measure. 3.2. Visiting Researchers Alina Botezat, PhD, Visiting Researcher at ZEW: Alina Botezat, PhD, will be visiting researcher at the ZEW Research Department "Labour Markets, Human Resources and Social Policy" from July 3 until September 28, 2012. She is a researcher at the Gh. Zane Institute of Economics and Social Research at the Romanian Academy in Iasi, Romania. Her research interests are in the areas of economics of education and applied econometrics. During her stay at ZEW, she will be working on the effects of parental absence on children's school success. Additional information on Alina Botezat, PhD: http://www.ad-astra.ro/whoswho/view_profile.php?user_id=2779 Professor Francis Greene, PhD, Visiting Researcher at ZEW: Prof. Francis Greene, PhD, was visiting researcher at the ZEW Research Department "Industrial Economics and International Management" from June 12-15, 2012. He is Professor of Small Business and Entrepreneurship at the University of Birmingham, UK. His research interests are in the areas of firm startups and firm dynamics of small and young businesses. During his stay at ZEW, he worked in cooperation with ZEW researchers on the topics of closure of young firms and restarter learning effects. Additional information on Prof. Francis Greene, PhD: http://www.birmingham.ac.uk/schools/business/staff/profile.aspx?ReferenceId=34416 4. PRESS RELEASES 21.06.2012 - ZEW (zil/kbo) ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe (CEE) - Pessimism Returns: Economic expectations for Central and Eastern Europe including Turkey (CEE) have decreased by 14.6 points in June 2012. The ZEW-Erste Group Bank Economic Sentiment Indicator currently stands at a balanced level of 0.0 points. Read more: http://www.zew.de/press2042 20.06.2012 - ZEW (gla/kbo) ZEW-CS Financial Market Test Switzerland - Expectations Deteriorate: The ZEW-CS Indicator dropped by 39.4 points to minus 43.4 points in June 2012. After a surprisingly strong first quarter, the surveyed financial market experts expect that economic growth in Switzerland will slow down considerably in the second half of the year. Read more: http://www.zew.de/press2040 20.06.2012 - ZEW (che/eje) ZEW/ProgTrans Survey Among Transport Market Experts - Expectations for the Transport Sector Improve Again: A moderate increase of freight transportation prices can be expected in the six months to come in Germany. At the same time, freight volumes indicate a slight increase of demand in most transport sectors. The majority of experts, however, expect a stronger increase in prices than in volumes and regard fuel prices as the major cost drivers. High prices for fuel are apparently passed along to customers. These are the findings of the ProgTrans/ZEW TransportBarometer (Transport Market Barometer) in the second quarter of 2012. Read more: http://www.zew.de/press2041 19.06.2012 - ZEW (cdi/fmo/kbo) ZEW Indicator of Economic Sentiment - Expectations Fall Sharply: The ZEW Indicator of Economic Sentiment for Germany has decreased by 27.7 points to a level of minus 16.9 points in June 2012. This is the indicator's strongest decline since October 1998. The worsening of the situation in the Spanish banking sector and the insecurity about the outcome of the Greek general election, which had been lasting for most of the survey period, have likely contributed to the sharp decline of the indicator. Read more: http://www.zew.de/press2039 30.05.2012 - ZEW (bzi/kbo) ZEW/University of Mannheim and Ernst & Young Study on Tax Harmonization in the EU: A Common Corporate Tax Base - Easier, More Convenient and a Valuable Starting Point for Tax Harmonisation in Europe: A Common Corporate Tax Base (CC(C)TB) as proposed by the European Commission in 2011 is an appropriate means to replace the existing determination of corporate taxable income under national tax rules in the member states. A CC(C)TB will make it easier and more convenient to do business in Europe and sets a reasonable starting point for tax harmonisation in Europe. This is the main conclusion of a comprehensive study issued on May 30, 2012, in Brussels. The study conducted by a research consortium of Ernst & Young, the Centre for European Economic Research (ZEW) and the University of Mannheim shows that differences between the Commission's proposal and prevailing tax accounting practices are rather small. In fact, the tax burden of EU-based businesses would remain, on an EU-27 average, largely unchanged (-0.06 per cent) if a common tax base was adopted. Read more: http://www.zew.de/press2024 For current press releases, please visit: http://www.zew.de/en/presse 5. RECENT PUBLICATIONS IN ENGLISH LANGUAGE 5.1. ZEWnews ZEWnews English edition 05/06 - 2012 * Put to the Test: Opposition Party Proposals for Reforming the German Tax System * Experiment on the Patience of Child and Mother * Questions & Answers: Why Does Germany Fail to Attract Foreign Skilled Workers? * How to Assess a Tax on Financial Transactions * International Conference to Celebrate the Kick-Off of the Leibniz ScienceCampus MaCCI * 2nd SEEK Conference: The Green Growth Challenge * Opinion Regarding Web Chatter Download as PDF(*): http://ftp.zew.de/pub/zew-docs/zn/en/zn052012.pdf This edition contains the additional M&A Report which includes the following articles: * M&A Index Germany - Turning Point in Sight * Aviation Industry: Leaving the Crisis Behind * Uncertainty in the Renewable Energies Industry * Greece: M&A Activity has Collapsed * Declining M&A Activity in the Auto Industry Download as PDF(*): http://ftp.zew.de/pub/zew-docs/zn/en/schwerpunkte/ma-report/mareport_062012.pdf 5.2. Financial Market Report Switzerland Financial Market Report Switzerland July 2012 * Economic Outlook for Switzerland: Dramatic Deterioration * Current Economic Situation: Further Improvements * Inflation Expectations: Rebound Appeared Short-Lived * Interest Rates: No Clear Direction for Long-Term Rates * Stock Market Outlook: Little Has Changed * Swiss Franc vs. Euro: EUR/CHF Expected to Remain Stable * Special Questions: Portfolio Allocation Download as PDF(*): http://www.zew.de/FinancialMarketReportSwitzerland072012.pdf 5.3. Financial Market Report CEE Financial Market Report CEE July 2012 The Financial Market Report CEE July 2012 will be published soon. The report adresses the economic outlook for the CEE Region, Austria, and the eurozone as well as the results of the special question concerning stock market expectations and international diversification potential of CEE stock markets. Download as PDF(*) in a few days: http://ftp.zew.de/pub/zew-docs/fmt_cee/FMTCEE072012.pdf 5.4. Discussion Papers 12-040 Daniel Dressler The Impact of Corporate Taxes on Investment - An Explanatory Empirical Analysis for Interested Practitioners Download as PDF(*): http://ftp.zew.de/pub/zew-docs/dp/dp12040.pdf 12-039 Christoph Spengel; Martina Ortmann-Babel; Benedikt Zinn; Sebastian Matenaer A Common Corporate Tax Base for Europe: An Impact Assessment of the Draft Council Directive on a CC(C)TB Download as PDF(*): http://ftp.zew.de/pub/zew-docs/dp/dp12039.pdf 12-038 Steven D. Levitt; John A. List; Susanne Neckermann; Sally Sadoff The Behaviouralist Goes to School: Leveraging Behavioural Economics to Improve Educational Performance Download as PDF(*): http://ftp.zew.de/pub/zew-docs/dp/dp12038.pdf 12-037 Kai Hueschelrath; Kathrin Mueller The Competitive Effects of Firm Exit - Evidence from the U.S. Airline Industry Download as PDF(*): http://ftp.zew.de/pub/zew-docs/dp/dp12037.pdf 12-036 Kai Hueschelrath; Kathrin Mueller; Tobias Veith Estimating Damages from Price-Fixing - The Value of Transaction Data Download as PDF(*): http://ftp.zew.de/pub/zew-docs/dp/dp12036.pdf 12-035 Kai Hueschelrath; Kathrin Mueller; Tobias Veith Concrete Shoes for Competition - The Effect of the German Cement Cartel on Market Price Download as PDF(*): http://ftp.zew.de/pub/zew-docs/dp/dp12035.pdf 12-034 Dirk Czarnitzki; Cindy Lopes Bento Value for Money? New Microeconometric Evidence on Public R&D Grants in Flanders Download as PDF(*): http://ftp.zew.de/pub/zew-docs/dp/dp12034.pdf 5.5. Expertises Christian Rammer and Bettina Mueller (2012), Start-Up Promotion Instruments in OECD Countries and Their Application to Developing Countries, Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH, Mannheim. Additional information and download: http://www.zew.de/publication6626 Susanne Altvater, Debora de Block, Irene Bouwma, Thomas Dworak, Benjamin Goerlach, Claudia Hermeling, Judith Klostermann, Martin Koenig, Markus Leitner, Natasha Marinova, Sabine McCallum, Sandra Neumann, Daniel Osberghaus, Andrea Prutsch, Christiane Reif and Jenny Troeltzsch (2012), Adaptation Measures in the EU: Policies, Costs, and Economic Assessment, European Commission, DG CLIMA, Brussels. Additional information and download: http://www.zew.de/publication6625 Jaap Bellingwout, Lisa Evers, Jost Henrich Heckemeyer and Christoph Spengel (2012), Corporate Taxation of Headquarter Services in Europe, VU University of Amsterdam, Amsterdam and Mannheim. Additional information and download: http://www.zew.de/publication6624 IN GERMAN LANGUAGE 5.6. ZEW-Wachstums- und Konjunkturanalysen (ZEW Growth and Business Cycle Analyses) ZEW Growth and Business Cycle Analyses No. 2 (June) - 2012 * Germany Defies Insecure Economic Environment * Estimated Situation in the EMU * Results of the May 2012 Survey * Economic Gloom - Positive Outlook * Does Offshoring Lead to Higher Income Risk? * How Can Increasing Persistence of Low Wage Employment in Germany Be Explained? * News Shocks as Driving Force of Overall Economic Dynamics * Change in Sentiment in the European Union Download as PDF (German only)(*): http://ftp.zew.de/pub/zew-docs/kr/kr1202.pdf 5.7. ZEW-Finanzmarktreport (ZEW Financial Market Report) ZEW Financial Market Report July 2012 * Economic Expectations Fall Sharply * ECB: Early Cut of Interest Rates Becomes More Likely * USA: Moderate Growth Continues * Japan: Assessment of Situation Improved Once Again * Great Britain: Indicators Show Downward Trend * Special Question: Significance of Correlation Coefficients for Investment Decisions Download as PDF (German only)(*): http://ftp.zew.de/pub/zew-docs/frep/072012.pdf 5.8. Deutscher Immobilien-Finanzierungsindex(DIFI)-Report (German Real Estate Finance Index (DIFI Report)) DIFI Report Second Quarter - 2012 * Financing Options for Real Estate Improve - Outlook Remains Sceptical * Special Question: German Real Estate Remains in Great Demand Download as PDF (German only)(*): http://ftp.zew.de/pub/zew-docs/DIFI/DIFI062012.pdf 5.9. ZEW-Dokumentationen (ZEW Documentations) 12-04 Birgit Aschhoff, Michael Astor, Dirk Crass, Thomas Eckert, Stephan Heinrich, Georg Licht, Christian Rammer, Daniel Riesenberg, Niclas Rueffer, Robert Strohmeyer, Vartuhl Tonoyan and Michael Woywode Systemevaluierung "KMU-innovativ" (System Evaluation "SME innovative") Download as PDF (German only)(*): http://ftp.zew.de/pub/zew-docs/docus/dokumentation1204.pdf 5.10. ZEW-Wirtschaftsanalysen (ZEW Economic Analyses) Issue 102 Kai Hueschelrath, Nina Leheyda, Kathrin Muelller and Tobias Veith Schadensermittlung und Schadensersatz bei Hardcore-Kartellen - Oekonomische Methoden und rechtlicher Rahmen (Damage Calculation and Compensation for Hardcore Cartel Infringements - Economic Methods and Legal Framework) Additional information and order option (German only): http://www.zew.de/publikation6516 5.11. Gutachten/Forschungsberichte (Expertises/Research Reports) Florens Flues, Andreas Loeschel, Frank Pothen and Nikolas Woelfing (2012), Indikatoren fuer die energiepolitische Zielerreichung (Indicators for the Achievement of Energy Policy Objectives), on behalf of the Federation of German Industries (BDI), a broad consortium of its member associations, and the Industrial Trade Unit Mining, Chemistry, Energy, Mannheim. Additional information and download (German only): http://www.zew.de/publication6622 (*) Please note: PDF files can be displayed with Adobe Acrobat Reader. The software can be downloaded for free: http://get.adobe.com/uk/reader 6. NEW RESEARCH PROJECTS Corporate Taxation of Headquarter Services in Europe http://www.zew.de/project1208 Tax Policy in the EU in an Environment of New Fiscal Institutions and Coordination Procedures http://www.zew.de/project1207 7. EVENTS 7.1. Scientific Events 05.07.2012 ZEW Research Seminar: The European Eco-Innovation Observatory: Concept, Experience and Way Forward Speaker: Michal Miedzinski (Technopolis Group) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1689 12.07.2012 ZEW Research Seminar: Money talks ... - Whistleblower Reward Programs in Public Enforcement of Competition Law Speaker: Dr. Eckart Bueren (Max Planck Institute for Comparative and International Private Law) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1680 19.07.2012 ZEW Research Seminar: On the Long-Run Effect of a Currency Changeover on Prices: The Case of Restaurants Speaker: Dr. Thomas A. Eife (Heidelberg University) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1683 26.07.2012 ZEW Research Seminar: Revisiting the Complementarity Between Education and Training - The Role of Personality, Working Tasks, and Firm Effects Speaker: Dr. Katja Goerlitz (RWI Essen) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1663 _____________________________________________________________________ IMPRINT Publisher: Centre for European Economic Research GmbH (ZEW) L 7, 1 - 68161 Mannheim - Germany - http://www.zew.eu Phone +49 621/1235-01 Fax +49 621/1235-255 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 Editors: Yvonne Braeutigam, yvonne.braeutigam at zew.de ; Patrick Pilarek, pilarek at zew.de E-mail: newsletter-en at zew.de Editorial assistants: Laura Piotter; Christian Welt Responsibility: Gunter Grittmann, grittmann at zew.de Legal note: http://www.zew.eu/legalnote You can subscribe/unsubscribe at any time - online via http://www.zew.eu/newsletter or - 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