[ZEW Newsletter English Edition] 2015-05 *zew-newsletter-englishedition at mx-assp2.zew.de* zew-newsletter-englishedition at mx-assp2.zew.de /Thu May 28 15:04:52 MEST 2015/ * *Messages sorted by:* [ date ] [ thread ] [ subject ] [ author ] ------------------------------------------------------------------------ _____________________________________________________________________ _____________________________________________________________________ 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. 2015-05 May 28, 2015 (Yvonne Braeutigam, newsletter-en at zew.de ) http://www.zew.eu _____________________________________________________________________ _____________________________________________________________________ Content 1. NEWS 2. STAFF 2.1. Appointments 2.2. Visiting Researchers 3. PRESS RELEASES 4. RECENT PUBLICATIONS IN ENGLISH 4.1. ZEW policy brief 4.2. Financial Market Report Switzerland 4.3. ZEW Discussion Papers 4.4. Expertises/Research Reports IN GERMAN 4.5. ZEWnews German Edition 4.6. ZEW Finanzmarktreport (ZEW Financial Market Report) 5. NEW RESEARCH PROJECTS 6. EVENTS 6.1. Professional Training 6.2. Public Events 6.3. Scientific Events _____________________________________________________________________ 1. NEWS 27.05.2015 - ZEW (phe/ggr/jpr) ZEW Researcher Dr. Peter Heindl on High Electricity Prices and Social Justice: The household electricity price in Germany of 29.7 cent per kWh is among the highest in Europe, according to the latest figures released by the European Statistical Office Eurostat on May 27, 2015. Taxes and levies make up more than 50 per cent of this price. "High electricity prices weigh heavily on low-income households in particular," explains Dr. Peter Heindl, energy market expert at the Centre for European Economic Research (ZEW), with regard to further electricity price increases in Germany and Europe. Read more: http://www.zew.de/en/news/2641 13.05.2015 - ZEW (abr/ybr) Ninth 2015 Mannheim Corporate Taxation Day (June 25, 2015): Set to take place on June 25, 2015, the Centre for European Economic Research (ZEW), together with the University of Mannheim, has organised this year's Mannheim Corporate Taxation Day (Mannheimer Unternehmenssteuertag). Executive board members, CEOs, tax specialists from medium-sized and large businesses, tax consultants, and auditors meet at this annual event, held exclusively in German, in order to receive updates on current developments in international taxation. Through a series of talks and workshops, giving ample opportunity for discussion, participants are provided with advice concerning current fiscal developments and learn about the possibilities for operational tax planning and design. This year, the keynotes and workshops will particularly focus on the tax opportunities and risks involved in taking strategic investment decisions. Read more: http://www.zew.de/en/news/2997 12.05.2015 - ZEW (cfu) ZEW President Clemens Fuest on the Investment Policy in Germany: The news that Germany's Minister for Economic Affairs, Sigmar Gabriel, had formed an expert commission to develop proposals for bolstering investment in German infrastructure is a welcome sign. While the size of Germany's investment shortfall is disputed, the significance of private and public investment for the country's economic future is obvious. Nevertheless, the commission's recently submitted report is disappointing for several reasons. Read the complete opinion: http://www.zew.de/en/news/2995 11.05.2015 - ZEW (ape/fkr) Q&A - Does Germany Have a Poverty Problem? "No One's Existence Is Really Threatened by Absolute Poverty": At first glance, Europe's sovereign debt crisis has left Germany unscathed. The economy is benefiting from a weak euro, unemployment is falling and the federal budget is balanced. But a recent alarming figure has upset the economic idyll: about 12.5 million people in Germany are affected by poverty - more than ever before. Is poverty in Germany increasing, compared to other countries? ZEW financial economist Andreas Peichl stresses that poverty is relative - and that data about the edges of the income distribution are relatively imprecise. Read the complete interview: http://www.zew.de/en/news/2994 08.05.2015 - ZEW (cfu/jpr) Comment on the Election Result in the UK - ZEW President Fuest: "A Good Result for Europe": The UK election results are in. According to Professor Clemens Fuest, President of the Mannheim Centre for European Economic Research (ZEW), the result shows three things: "First, the government has been rewarded for their strict budgetary policy and the economic upturn in the UK. Second, the gulf between Scotland and England continues to widen. Third, voters have cut UKIP down to size. Even though there will be a referendum on EU membership, a withdrawal of the UK has become less likely. All in all, it is a good result for Europe." Read more: http://www.zew.de/en/news/2991 2. STAFF 2.1. Appointments 18.05.2015 - ZEW (hbo/ybr ) ZEW Economist Holger Bonin Appointed to the Expert Commission for the Second Report on Equality: What concrete political measures are suitable to actually enable men and women to meet as equals in professional and family life? This question will be addressed by the Expert Commission working on the German government's second Report on Equality. ZEW researcher Professor Holger Bonin has been appointed to this commission by Manuela Schwesig, Federal Minister for Family Affairs, Senior Citizens, Women and Youth. Additional information on Professor Holger Bonin: http://www.zew.de/en/staff/hbo 2.2. Visiting Researchers 26.05.2015 - ZEW (bpe/ybr) Sara Amoroso, PhD, Visiting Researcher at ZEW: Sara Amoroso was a visiting researcher at ZEW's Research Department "Industrial Economics and International Management" from May 18-23, 2015. She is researcher at the Institute for Prospective Technological Studies (IPTS) of the European Commission's Joint Research Centre (JRC) in Brussels, Belgium. Her research interests are in the areas of empirical industrial economics, innovation economics and micro-econometrics. During her stay at ZEW, she examined the impact of foreign direct investment on start-up activity. Additional information on Sara Amoroso, PhD: http://iri.jrc.ec.europa.eu/team.html 3. PRESS RELEASES 21.05.2015 - ZEW (zil/ggr/jpr) ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe (CEE) - Economic Expectations Nearly Unchanged: In May 2015, economic expectations for Central and Eastern Europe including Turkey (CEE region) remain nearly unchanged. In the current survey the ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE region has decreased by 0.7 points following the small increase in the previous month (April: increase by 2.0 points). The indicator now stands at a level of 47.5 points. The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe reflects the financial market experts' expectations for the CEE region on a six-month time horizon. The indicator has been compiled on a monthly basis together with further financial market data by the Mannheim Centre for European Economic Research (ZEW) with the support of Erste Group Bank, Vienna, since 2007. Read more: http://www.zew.de/en/press/3007 21.05.2015 - ZEW (csc/jpr) ZEW Study on Government Debt - Outright Debt Relief Significantly Decreases Risk of Serial Sovereign Debt Restructurings: Cutting the debts of heavily-indebted countries can weaken or even completely eliminate their willingness to implement much-needed reforms. Despite the risks associated with a haircut, it also bears positive effects. For example, it substantially reduces the risk of follow-up debt restructurings. This is the result of a study conducted by the Mannheim Centre for European Economic Research (ZEW). Read more: http://www.zew.de/en/press/3005 20.05.2015 - ZEW (ljr/ggr/jpr) ZEW-CS Financial Market Test Switzerland - Economic Outlook Improves Once More: In May 2015, the ZEW-CS Indicator rises by 23.1 points to a reading of minus 0.1 points. After the third consecutive increase the reading of the indicator currently neither points towards deterioration nor towards improvement of economic activity in Switzerland. The ZEW-CS Indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. It is calculated monthly by the Centre for European Economic Research (ZEW) Mannheim, in cooperation with Credit Suisse (CS), Zurich. Read more: http://www.zew.de/en/press/3003 19.05.2015 - ZEW (jrr/dre/jpr) ZEW Indicator of Economic Sentiment - Optimism Declines: The ZEW Indicator of Economic Sentiment for Germany declines in May 2015. Decreasing by 11.4 points compared to the previous month, the index now stands at 41.9 points (long-term average: 24.9 points). "Financial market experts have adjusted their optimistic expectations downward in May due to unexpectedly poor growth figures in the first quarter of 2015 and turmoil on the stock and bond markets. However, only a small number of survey participants actually expect a deterioration of the economic situation," says ZEW President Professor Clemens Fuest. Read more: http://www.zew.de/en/press/3002 08.05.2015 - ZEW (cfu/jpr) Plans of the Federal Minister of Finance to Reduce the Effects of Bracket Creep - ZEW President Clemens Fuest: "The Announced Tax Relief Falls Short of the Mark": With tax revenue estimates again predicting an increase in government revenues, the German Federal Minister of Finance plans to tackle the effects of "bracket creep" from 2016. The President of the Centre for European Economic Research (ZEW), Professor Clemens Fuest, comments the recently presented plans: "The announced tax relief falls short of the mark when it comes to addressing bracket creep. This issue could be addressed over the long run by implementing a "tariff on wheels", an automatic annual adjustment of tax rates that offsets the effects of inflation. The amount of this offset, however, must depend on the level of inflation, not on the current government budget." Read more: http://www.zew.de/en/press/2992 07.05.2015 - ZEW (csp/jbn/ggr/jpr) The Cost of Capital in the European Union - Fiscal Investment Climate in Germany Significantly Improved: Germany has seen the strongest decline in cost of capital among all 28 EU Member States over the past 15 years, from 7.7 per cent in 2000 to 6.5 per cent in 2014. In an EU-wide comparison of company taxation only, Germany has gained ground, climbing from rank 27 in 2000 to the 24th position. The comprehensive corporate tax reforms enacted in 2001 and 2008 as well as the resulting reduction of the corporate tax rate to 15 per cent have thus proven effective, as shown in a survey by the Mannheim Centre for European Economic Research (ZEW). However, real and financial investments still have not reached an equal footing. Read more: http://www.zew.de/en/press/2990 06.05.2015 - ZEW (msc/ggr/jpr) China Economic Panel (CEP) of the Centre for European Economic Research (ZEW) and Fudan University (Shanghai) - Growth Trend of the Chinese Economy Slows Down: The CEP Indicator, which reflects analysts' assessments of the macroeconomic outlook for China for the next twelve months, clearly receded in April 2015. For the current survey period (13th - 25th April, 2015), the indicator has a value of 2.6 points and is thus 11.8 points lower than in March. The increases, which had been achieved over the two previous months, have therefore been re-reduced by half. The April figures considerably undercut the indicator's long-term average of 11.0 points, demonstrating that the indicator's mid- to long-term downward trend, which has prevailed since autumn 2013, is continuing. One possible reason for the expected slowdown of the Chinese economy is the fact that Chinese exports grew slightly less than expected. Looking at the different regions, the economic downturn is expected to have a particularly large impact on Shanghai. Read more: http://www.zew.de/en/press/2988 4. RECENT PUBLICATIONS IN ENGLISH 4.1. ZEW policy brief ZEW policy brief - No. 1, 2015 Fiscal Investment Climate and the Cost of Capital in Germany and the EU Download as PDF file(*)(reference is given at the end of "RECENT PUBLICATIONS"): http://ftp.zew.de/pub/zew-docs/policybrief/pb01-15.pdf 4.2. Financial Market Report Switzerland Financial Market Report Switzerland June 2015 * Swiss Economic Traffic Light Switches to Yellow * Analysts Expect the Swiss Franc to Depreciate * Inflation Expected to Stay Unchanged * Rise in Long-Term Interest Rates Anticipated * Expectations for European Stock Markets Continue to Run High * Pickup in Export Expectations * Special Question 1: Asset-Class Valuations * Special Question 2: Fair Value of EUR/CHF Exchange Rate Download as PDF file(*): http://www.zew.de/FinancialMarketReportSwitzerland062015.pdf 4.3. ZEW Discussion Papers 15-034 Andreas Peichl; Martin Ungerer Accounting for the Spouse when Measuring Inequality of Opportunity Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp15034.pdf 15-033 Maresa Sprietsma; Lisa Pfeil Peer Effects in Language Training for Migrants Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp15033.pdf 15-032 Dirk Czarnitzki; Julie Delanote R&D Policies for Young SMEs: Input and Output Effects Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp15032.pdf 15-031 Claudia Fries; Markus Kappler Does Foreign Direct Investment Synchronise Business Cycles? Results from a Panel Approach Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp15031.pdf 4.4. Gutachten/Forschungsberichte (Expertises/Research Reports) Martin Achtnicht, Kathrine von Graevenitz, Simon Koesler, Andreas Loeschel, Beaumont Schoeman, Miguel Angel Tovar Reanos (2015), Including Road Transport in the EU-ETS - An Alternative for the Future? Adam Opel AG, BMW AG, ZEW Mannheim. Additional information and download: http://www.zew.de/en/publikationen/7913 IN GERMAN 4.5. ZEWnews German Edition The May 2015 ZEWnews German Edition contains the following articles: * Europe's Sovereign Debt Crisis - Approach to Debt Restructuring Key * European Banking Regulations Expand Demand for Government Bonds * Childcare and Job Quality Help Mothers to Find their Way Back into Working Life * Step by Step to Innovation Success * Eastern European Countries to Benefit from EU Climate Policy * Companies Set Different Priorities Regarding their Own Brand Protection * Abolition of University Teacher Privilege Reduces Technology Transfer * Q&A: Does Germany Have a Poverty Problem? "Nobody Is Really Threatened in their Existence by Absolute Poverty" * Increasing Research Productivity in Chinese Companies * Opinion on Experts Short on Answers to Investment Policy Questions Download as PDF file (in German)(*): http://ftp.zew.de/pub/zew-docs/zn/zn0515.pdf 4.6. ZEW-Finanzmarktreport (ZEW Financial Market Report) ZEW Financial Market Report June 2015 * Business Confidence Goes Down * ECB: Inflation Expectations Grow Continuously * USA: Situation Deteriorates Significantly * Japan: Economic Expectations Slightly Dropped * Great Britain: Economic Exptectations Remain on Low Level * Special Question: Long-Term Inflation Expectations Increased Download as PDF file (in German)(*): http://ftp.zew.de/pub/zew-docs/frep/062015.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 5. NEW RESEARCH PROJECTS Creation of a Representative Data Base of Young Firms in Baden-Wuerttemberg http://www.zew.de/en/projects/1501 Modeling Cost-Effective Implementation of Environmental Taxation and the Resulting Burden on Private Households in Germany http://www.zew.de/en/projects/1499 Price and Quality Competition from China - How Can German Firms React? http://www.zew.de/en/projects/1485 Realisation of Earthquake Risk and Housing Prices in China http://www.zew.de/en/projects/1482 6. EVENTS 6.1. Professional Training 30.06.-01.07.2015 Scientific Talks - Excellent Science Requires Excellent Presentation Skills Speaker: Barbara Hey (ZEW) Location of the event: ZEW, Mannheim Additional information, costs, and enrolment: http://www.zew.de/en/professionaltraining/681 6.2. Public Events 01.07.2015 ZEW Lunch Debates: Recent Developments in European Competition Policy Location of the event: Representation of the State of Baden-Wuerttemberg to the European Union, Rue Belliard 60-62, B-1040 Brussels Additional Information: http://www.zew.de/en/events/2064 6.3. Scientific Events 04.-05.06.2015 Conference: Econometric Conference in Honour of Francois Laisney Location of the event: University of Mannheim Additional Information: http://www.zew.de/en/events/2106 08.-09.06.2015 Workshop: SEEK Workshop on Labour Market Policy Evaluations Using Job Search and Matching Models Location of the event: ZEW, Mannheim Additional Information: http://www.zew.de/en/events/2114 12.-13.06.2015 Conference: 13th ZEW Conference on The Economics of Information and Communication Technologies Location of the event: ZEW, Mannheim Additional Information: http://www.zew.de/en/events/2054 18.06.2015 Workshop: SEEK Workshop on Digital Economy Location of the event: Collegio Carlo Alberto, Via Real Collegio, 30 10024 Moncalieri (Torino), Italy Additional Information: http://www.zew.de/en/events/2158 18.06.2015 ZEW Lectures on Economic Policy: Sources and Implications of Labour Policy Reforms Speaker: Giuseppe Bertola (University of Turin) Location of the event: ZEW, Mannheim Additional Information: http://www.zew.de/en/events/2128 24.06.2015 ZEW Research Seminar: How we Cooperate... Perhaps Speaker: Prof. Thomas Siedler (University of Hamburg) Location of the event: ZEW, Mannheim Additional Information: http://www.zew.de/en/events/2154 02.-03.07.2015 Conference: Sixth ZEW/MaCCI Conference on the Economics of Innovation and Patenting Location of the event: ZEW, Mannheim Additional Information: http://www.zew.de/en/events/2077 06.-09.07.2015 ZEW Summer Workshop: 17th ZEW Summer Workshop for Young Economists: Advanced Empirical Methods in Environmental and Innovation Economics Location of the event: ZEW, Mannheim Additional Information: http://www.zew.de/summerworkshop2015 ____________________________________________________________________ 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 ; Kathrin Eike-Verfuerth, eike-verfuerth at zew.de E-mail: newsletter-en at zew.de Editorial assistants: Julia Glashauser, Jule Zenker, Constanze Adler 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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