_____________________________________________________________________ _____________________________________________________________________ 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. 2013-04 April 29, 2013 (Yvonne Braeutigam, 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 4.1. ZEWnews 4.2. Financial Market Report Switzerland 4.3. Financial Market Report CEE 4.4. ZEW Discussion Papers 4.5. ZEW Documentations 4.6. Expertises/Research Reports IN GERMAN 4.7. ZEW Finanzmarktreport (ZEW Financial Market Report) 4.8. ZEW Branchenreport Informationswirtschaft (ZEW Sector Report for the Information Economy) 4.9. ZEW Wachstums- und Konjunkturanalysen (ZEW Growth and Business Cycle Analyses) 5. NEW RESEARCH PROJECTS 6. EVENTS 6.1. Scientific Events 7. JOB OFFERS _____________________________________________________________________ 1. NEWS 26.04.2013 SEEK Annual Conference "Engines for More and Better Jobs in Europe" at ZEW: High unemployment figures in Southern Europe, demographic change and skilled worker shortage in Germany: Which solutions can be provided by science, politics, and industry to achieve the goals of the EU growth strategy "Europe 2020", integrative growth for more and better jobs in Europe? This question was discussed at the third conference of the research programme SEEK (Strengthening Efficiency and Competitiveness in the European Knowledge Economies) at ZEW on April 25 and 26, 2013. Some 150 participants from politics, industry, science, and public institutions attended the event. Read more about the SEEK Conference: http://www.zew.de/news2303 23.04.2013 Mannheim Corporate Tax Day 2013: The University of Mannheim and ZEW are organising the seventh Mannheim Corporate Tax Day this year. On June 20, 2013, renowned speakers from the areas of science, business, and administration will shed light on current trends of national and international company taxation. This year's focus will be on aspects of tax planning in international companies resulting from current legal developments in Germany as well as at OECD and EU levels. The combination of presentations and workshops will allow participants to examine the topic in depth. All presentations will be held in German. Further information and registration at the German homepage: http://www.unternehmenssteuertag.de 19.04.2013 ZEW Workshop in Brussels - The Role of Corporate Taxation for a Future Fiscal Union: A workshop organised by the Centre for European Economic Research (ZEW) shed light on the potential role of taxation and tax harmonization within the evolution process of a European fiscal union. The workshop with participants from business, European institutions, and academia took place at the Representation of the Federal State of Baden-Wuerttemberg to the EU in Brussels on April 28, 2013. Read more on the ZEW Workshop: http://www.zew.de/news2302 15.04.2013 5th ZEW/MaCCI Conference on the Economics of Innovation and Patenting (June 3-4, 2013): The Centre for European Economic Research (ZEW) and the Mannheim Centre for Competition and Innovation (MaCCI) are hosting the fifth conference on the economics of innovation and patenting in Mannheim on June 3-4, 2013. The results of some 50 recent research contributions in the area of innovation and research policy will be presented and discussed at the conference. The conference will address a broad selection of topics ranging from financing of innovation and the efficiency of patent systems to industry-science technology transfer activities. Keynote lectures will be given by five renowned international researchers in the field of innovation and patenting: Diego Comin (Harvard Business School), Xielin Liu (Chinese Academy of Sciences), Mark Robert (Pennsylvania State University), Brian Wright (University of Berkeley), and Dietmar Harhoff (Max Planck Institute for Intellectual Property and Competition Law, Munich). The conference will also feature a panel discussion on the future developments of science and innovation policy in Germany and Europe including panelists Engelbert Beyer (BMBF), Dominique Foray (EPFL, Lausanne), Stuart Graham (US Patent and Trademark Office), and Jochen Maas (Sanofi). Registration is possible at http://de.amiando.com/INNOPPayingAtt.html until May 10. The conference fee is EUR 175 and includes the conference package, coffee breaks, the conference dinner, and lunch on both days of the conference. Additional information on the conference: http://www.zew.de/innovation-patenting2013 08.04.2013 Federal Minister of Finance Wolfgang Schaeuble Speaks at ZEW: Federal Minister of Finance Dr. Wolfgang Schaeuble MdB spoke at ZEW on April 8, 2013, about the key role of the institutional framework for developing a strong European Union. Addressing an audience of about 400 guests, Schaeuble highlighted Germany's role regarding stabilization and growth for Europe, especially in view of the European debt crisis. According to him, the comparably stable economic situation in Germany is mainly based on its well-performing institutional structures. Schaeuble argued in favour of stronger European institutions and of necessary reforms. The goal is to restore and improve competitiveness in Europe, and many achievements have been accomplished since the beginning of the debt crisis, Schaeuble said. According to him, embattled countries like Ireland, Spain, Greece, or Portugal are on the right track to achieving this goal. Read more: http://www.zew.de/news2286 05.04.2013 New SEEK Projects Launched on April 1, 2013: The review process of proposals submitted for the fourth call for projects within the framework of the SEEK research programme has been completed, and eight new SEEK projects were launched on April 1, 2013. With a total of 32 submitted high-quality project proposals, this year's competition for SEEK funding was stronger than ever before. Following a rigorous selection process, eight project proposals were approved by the internationally renowned members of the Scientific Board. These projects were selected for the SEEK research programme due to their extraordinary scientific quality and originality, and because of the high level of international cooperation and exchange amongst the researchers involved. In all project teams ZEW researchers co-operate closely with internationally distinguished colleagues. Additional information on the SEEK Projects 2013: http://seek.zew.eu/en/seek/projects/labour-markets.html 03.04.2013 Q&A: On the Giant U.S. Airline Merger: How a Marriage in the Skies Will Effect Competition in the Air Transportation Sector: When American Airlines ties the knot with US Airways, it will become the largest passenger air carrier in the world.Assistant Professor Kai Hueschelrath, a competition economist at ZEW, explains the consequences of the mega merger. Read more: http://www.zew.de/news2280 03.04.2013 ZEW President Clemens Fuest on "Reintroducing the Wealth Tax at any Cost?": One of the issues that will figure prominently in the upcoming German parliamentary election is whether to increase taxes on wealth. For the most part, Germany currently taxes wealth by means of an inheritance tax. Now the Social Democrats and the Green Party are calling for a one per cent annual tax on Germans whose net wealth exceeds two million euros. Such a tax, known as a "net wealth tax", existed in Germany before, but in 1995 the German Constitutional Court ruled it unconstitutional for taxing different kinds of assets in an inequitable manner. Read the complete interview: http://www.zew.de/news2281 27.03.2013 DIFI Report March 2013: Major Improvement in Commercial Real Estate Financing: During the first quarter of 2013, the market participants' expectations regarding financing conditions on the German real estate market brightened up significantly. Compared to the previous quarter the German Real Estate Finance Index (DIFI) improved by remarkable 24.9 points. It now stands at minus 1.6 points, thereby reaching its highest value since the introduction of the survey at the end of 2011. Especially the segments office, retail, and logistics real estate are responsible for this positive development. Read more: http://www.zew.de/news2277 For current news, please visit: http://www.zew.de/news 2. STAFF 2.1. Visiting Researchers Prof. Dirk Ruebbelke Visiting Researcher at ZEW: On April 18 and 19, 2013, Professor Dr. Dirk Ruebbelke from the Basque Centre for Climate Change (BC3) and the Basque Foundation for Science (IKERBASQUE) was visiting researcher at the ZEW Research Department "Environmental and Resource Economics, Environmental Management". His main research fields are environmental economics, the theory of public goods as well as international climate and energy policy. During his visit he worked together with ZEW researchers on the effects of non-governmental norm enforcement on the voluntary provision of public goods. A joint experiment was developed to examine the results further. Additional information on Prof. Dirk Ruebbelke: http://www.bc3research.org/our_team/researchers/dirk_ruebbelke.html 3. PRESS RELEASES 23.04.2013 - ZEW (cra/kbo) Science Spin-offs Create More Jobs than Other Start-ups: The annual job growth in science spin-offs is on average about 3.4 percentage points higher than that of other start-ups in knowledge-intensive economic sectors (research-intensive industry and knowledge-intensive service providers). This is the result of an analysis conducted by the Centre for European Economic Research (ZEW) in Mannheim. The study analyses more than 20,000 business start-ups in knowledge-intensive economic sectors from 1996 to 2000. Science spin-offs are start-ups with at least one person involved who had worked at a university or a non-university research institution, or who had been employed at a scientific institute during the firm foundation. Read more: http://www.zew.de/press2299 22.04.2013 - ZEW (der/ggr) Optimism Increases Among the Companies of the Information Economy: The economic sentiment within the economic sector of the information economy has improved further during the first quarter of 2013. Compared to the fourth quarter of 2012, the ZEW Sentiment Indicator Information Economy increases by 2.8 points and now reaches a level of 61.3 points. It has been crucial for this increase that the companies assess the future business development clearly more optimistically than during the final quarter of 2012. The sub-indicator of business expectations increases by 13.5 points to 69.1 points, which more than outweighs the decrease in the previous quarter. This is the result of a survey conducted by the Centre for European Economic Research (ZEW) in March 2013 within the information economy (further information regarding the survey at the bottom of the press release). Read more: http://www.zew.de/press2298 18.04.2013 - ZEW (zil/ggr) ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe (CEE) - Optimism Diminishes: In April 2013 economic expectations for Central and Eastern Europe including Turkey (CEE) decreased for the first time after four consecutive increases. The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe has fallen by 20.4 points. At a level of 29.5 points, it still clearly remains in the positive range. The deterioration of economic sentiment might well reflect rising uncertainty regarding the future development of the eurozone's debt crisis, among others in Cyprus. A downturn in economic expectations is being observed in almost all countries of the CEE region. Only Hungary's economic expectations increased by 11.6 points to a level of 22.8 points. The respective indicator of economic sentiment for the eurozone decreased by 25.1 points. Read more: http://www.zew.de/press2295 17.04.2013 - ZEW (lja/ggr) ZEW-CS Financial Market Test Switzerland - Economic Expectations Approach Three-Year High: In April 2013 the ZEW-CS Indicator of economic expectations for Switzerland continues its catch-up race, which had started in October 2012 and was temporarily interrupted last month. The indicator increases by 17.7 points to a level of 20.0 points. This is the highest level since May 2010 when the indicator amounted to 40.5 points. This month's positive change reflects financial analysts' growing optimism towards Switzerland's economic outlook. Read more: http://www.zew.de/press2291 16.04.2013 - ZEW (fmo/jri/kbo) ZEW Indicator of Economic Sentiment - Optimism Subdued: In April 2013 the ZEW Indicator of Economic Sentiment for Germany fell by 12.2 points and is now at a level of 36.3 points. Despite its decline, the indicator currently hovers at its third highest mark within the last 24 months. The current level was only exceeded in the two preceding months. Read more: http://www.zew.de/press2290 11.04.2013 - ZEW (fsa/kbo) ZEW-ZEPHYR M&A Index Germany - Upturn in Mergers and Acquisitions Likely in 2013: In the course of 2013, the German M&A market (mergers and acquisitions) will likely recover. Displaying 81 points in January, the ZEW-ZEPHYR M&A Index Germany had a promising start into 2013. According to a forecast of the Centre for European Economic Research (ZEW) in Mannheim, the index is likely to rise even further over the coming months. Although the recent development indicates a change of trend, the initial value of the M&A Index Germany of 100 points in the year 2000 is still far from the indicator's current level. Read more: http://www.zew.de/press2288 For current press releases, please visit: http://www.zew.de/en/presse 4. RECENT PUBLICATIONS IN ENGLISH 4.1. ZEWnews ZEWnews English Edition March/April 2013 * Retirement Ceremony for Wolfgang Franz - Clemens Fuest Appointed ZEW's New President * Mixed-Age Teams Are the Best Solution for Firms to Keep Older Employees Working Longer * Germany's Dual Vocational Education System and its Impacts on Innovation * Questions & Answers: Examining German Labour Market Reforms * A Two-Tier Banking System Would not Reduce the Systemic Risk Effectively * ZEW Conference on Emissions Trading Schemes in Europe, Asia, and Australia * Second International Annual Conference of the Leibniz ScienceCampus MaCCI at ZEW * Opinion Regarding "Reintroducing the Wealth Tax at any Cost?" Download as PDF file(*) (reference is given at the end of "RECENT PUBLICATIONS"): http://ftp.zew.de/pub/zew-docs/zn/en/zn022013.pdf 4.2. Financial Market Report Switzerland Financial Market Report Switzerland May 2013 * Credit Suisse ZEW Indicator Approaches 3-Year High * EUR/CHF to Remain at Current Level * No Inflationary Pressures Expected * Optimism on Swiss Stocks is Receding * Special Questions: Medium-Term Forecasts Download as PDF file(*): http://www.zew.de/FinancialMarketReportSwitzerland052013.pdf 4.3. Financial Market Report CEE Financial Market Report CEE May 2013 The Financial Market Report CEE May 2013 will be published soon. The report addresses the economic outlook for the CEE Region, Austria, and the eurozone as well as the results of the special question concerning the contagion risk of the Cyprus turmoil on the CEE region. Download shortly as PDF file(*): http://ftp.zew.de/pub/zew-docs/fmt_cee/FMTCEE052013.pdf 4.4. ZEW Discussion Papers 13-023 Holger Stichnoth; Mustafa Yeter Cultural Influences on the Fertility Behaviour of First- and Second-Generation Immigrants in Germany Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13023.pdf 13-022 Gunnar Lang; Henry Schaefer What is the Wind Behind the Sails to Go Abroad? - Empirical Evidence from the Mutual Fund Industry Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13022.pdf 13-021 Friedhelm Pfeiffer; Karsten Reuss Education and Lifetime Income During Demographic Transition Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13021.pdf 13-020 Roman Inderst; Martin Peitz Investment Under Uncertainty and Regulation of New Access Networks Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13020.pdf 13-019 Bernhard Dachs; Bettina Peters Innovation, Employment Growth, and Foreign Ownership of Firms - A European Perspective Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13019.pdf 13-018 Daniel Hoewer Corporate Main Bank Decision Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13018.pdf 13-017 Christiane Bradler; Robert Dur; Susanne Neckermann; Arjan Non Employee Recognition and Performance: A Field Experiment Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13017.pdf 4.5. ZEW Documentations 13-01 Birgit Aschhoff, Elisabeth Baier, Dirk Crass, Martin Hud, Paul Huenermund, Christian Koehler, Bettina Peters, Christian Rammer, Esther Schricke, Torben Schubert, and Franz Schwiebacher Innovation in Germany - Results of the German CIS 2006 to 2010 Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/docus/dokumentation1301.pdf 4.6. Expertises/Research Reports Hans Pitlik, Werner Hoelzl, Christof Brandtner, Friedrich Heinemann, Florian Misch, Mustafa Yeter, Geert Steurs, Simon Gagnage, and Kristof Mertens (2012), Excellence in Public Administration for Competitiveness in EU Member States, European Commission, DG Enterprise and Industry, Brussels. Additional information and download: http://www.zew.de/publication6945 Els Van de Velde, Christian Rammer, Marcel de Heide, Fabien Pinaud, Arnold Verbeek, Birgit Gehrke, Kristof Mertens, Pieterjan Debergh, Paula Schliessler, Frans van der Zee, and Maurits Butter (2012), Feasibility Study for an EU Monitoring Mechanism on Key Enabling Technologies, European Commission, DG Enterprise and Industry, Brussels. Additional information and download: http://www.zew.de/publication6899 IN GERMAN 4.7. ZEW Finanzmarktreport (ZEW Financial Market Report) ZEW Financial Market Report May 2013 * Subdued Economic Expectations * ECB: Low Inflation Rates Expected * USA: Economic Expectations Slightly Decreasing * Japan: Growing Inflation Expectations * Great Britain: Economic Expectations Restrained Again * Special Question: Economic Growth until Autumn 2013 Download as PDF file (in German)(*): http://ftp.zew.de/pub/zew-docs/frep/052013.pdf 4.8. ZEW Branchenreport Informationswirtschaft (ZEW Sector Report for the Information Economy) ZEW Sector Report for the Information Economy, 1st Quarter 2013 * Upward Trend in the Information Economy * ICT Sector: Every Second Company is Represented on Foreign Markets Download as PDF file (German only)(*): http://ftp.zew.de/pub/zew-docs/brepikt/201301BrepIKT.pdf (*) Please note: PDF files can be displayed with Adobe Acrobat Reader. The software can be downloaded for free: http://get.adobe.com/uk/reader 4.9. ZEW Wachstums- und Konjunkturanalysen (ZEW Growth and Business Cycle Analyses) ZEW Growth and Business Cycle Analyses No. 1 (March) - 2013 * Cautious Optimism Returns * The Presumable Situation Within the EMU * Results of the March Survey 2013 * Improved Business Situation Provides Good Sentiment at the Beginning of the Year * Mid-Term Projection for Germany: Moderate Potential Growth * The Regional Labour Market Effects of the German Unity * Climate Policy, Technology Options, and Economic Growth Patterns * Concerning a Transnational Free Trade Area Download as PDF (German only)(*): http://ftp.zew.de/pub/zew-docs/kr/kr1301.pdf 5. NEW RESEARCH PROJECTS Creativity for Innovation and Growth in Europe http://www.zew.de/project1289 The Design of Cartel Damage Compensation Claims and its Effect on Incentives http://www.zew.de/project1291 Potentials and Barriers for Start-ups in the Implementation of the Energiewende http://www.zew.de/project1298 SEEK Project 2013: Can Task-Biased Technological Change Explain Changes In Regional Labor Market Disparities? http://www.zew.de/project1294 SEEK Project 2013: Long-Run Benefits of Firms' Investment in Innovation and Human Capital - A Structural Model Approach http://www.zew.de/project1299 SEEK Project 2013: Patent Rights and Researcher Incentives for Knowledge Production, Disclosure and Commercialization: Evidence from a Natural Experiment in Germany http://www.zew.de/project1290 SEEK Project 2013: Tax Policy, Productivity and Innovation http://www.zew.de/project1301 SEEK Project 2013: The Anatomy of Hard-Core Cartels - Theory and Empirical Evidence http://www.zew.de/project1293 SEEK Project 2013: The Effects of Family Policy on Education, Labour Supply, and Fertility Decisions http://www.zew.de/project1300 SEEK Project 2013: What Do Legal Cartels Tell Us About Illegal Ones? http://www.zew.de/project1292 6. EVENTS 6.1. Scientific Events 29.05.2013 Mannheim Competition Policy Forum: The Economics of Payment Cards Speaker: Julian Wright (National University of Singapore, Singapore) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1816 03.-04.06.2013 Conference: 5th ZEW/MaCCI Conference on the Economics of Innovation and Patenting Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1773 07.06.2013 Conference: 10 Years of Regulation 1/2003 Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1813 21.-22.06.2013 Conference: 11th ZEW Conference on the Economics of Information and Communication Technologies Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1777 24.-25.06.2013 Conference: Mannheim Energy Conference 2013 Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1775 27.-28.06.2013 Workshop: SEEK Workshop on Social Network Formation and Peer Effects Additional information: http://www.zew.de/event1799 7. JOB OFFERS 25.04.2013 Researcher for the Research Department "Corporate Taxation and Public Finance" For the complete job offer, please visit: http://www.zew.de/career383 18.04.2013 Researcher (Postgraduate or Postdoc) for the Research Group "Competition and Regulation" For the complete job offer, please visit: http://www.zew.de/career382 ____________________________________________________________________ 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 Chairwoman of the Supervisory Board: Theresia Bauer, MdL, Minister of Science, Research, and the Arts of the State of Baden-Wuerttemberg Executive Directors: Prof. Dr. Clemens Fuest, 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: Julia Glashauser; Sebastian Kreimes 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!) 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