[ZEW Newsletter English Edition] 2013-12 *zew-newsletter-englishedition at mx-assp2.zew.de* zew-newsletter-englishedition at mx-assp2.zew.de /Thu Dec 19 15:58:49 MET 2013/ * *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. 2013-12 December 19, 2013 (Yvonne Braeutigam, newsletter-en at zew.de ) http://www.zew.eu _____________________________________________________________________ _____________________________________________________________________ Dear readers, An eventful year is coming to a close. With this e-mail, you are receiving the last issue of the ZEW Newsletter English edition in 2013. We would like to take this opportunity to thank your for your sustained interest in news from ZEW. We wish you and your loved ones a pleasant festive season and a prosperous, healthy 2014. Kind regards, your ZEW Newsletter editorial team _____________________________________________________________________ Content 1. NEWS 2. CALL FOR PAPERS 2.1. ZEW Workshop Skill Mismatch - Microeconomic Evidence and Macroeconomic Relevance (April 10-11, 2014) 2.2. Twelfth ZEW Conference on the Economics of Information and Communication Technologies (June 16-17, 2014) 3. STAFF 3.1. Visiting Researchers 4. PRESS RELEASES 5. RECENT PUBLICATIONS IN ENGLISH 5.1. ZEWnews English Edition 5.2. ZEW policy brief 5.3. Financial Market Report Switzerland 5.4. ZEW Discussion Papers 5.5. Expertises/Research Reports IN GERMAN 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-Gruendungsreport (ZEW Start-up Report) 5.10. Gutachten/Forschungsberichte (Expertises/Research Reports) 6. NEW RESEARCH PROJECTS 7. EVENTS 7.1. Scientific Events _____________________________________________________________________ 1. NEWS 19.12.2013 ZEW policy brief Published - Financial Sector and Output Dynamics in the Euro Area Countries: The financial and economic crisis has drawn attention to the need for a better understanding of destabilising effects that arise in the financial sector and spill over to the real economy. In turn, weakening economic conditions are likely to feed back to the financial sector, thus giving rise to an adverse feedback loop. A recent study, funded by ZEW's SEEK research programme, provides deeper insights into the consequences of an insufficiently integrated European economy. The study shows that financial stress does not always have a negative impact on output. Download the four-sided ZEW policy brief at: http://ftp.zew.de/pub/zew-docs/policybrief/pb09-13.pdf 13.12.2013 Christmas Party with Children from Wespin-Stift (Dorothea Wespin Foundation Mannheim): Members of ZEW's staff invited children and teenagers from Wespin-Stift children's home in Mannheim to join their small Christmas party. On December 12, 2013, some 20 children and teenagers living in the care facility visited ZEW, where they received their Christmas presents. Read more: http://www.zew.de/news2515 12.12.2013 ZEW Researchers at the 2013 Beijing Humboldt Kolleg: At this year's Beijing Humboldt Kolleg on November 20-22, ZEW economists presented recent research findings on the German energy transition in the capital city of China. The objective of the event with the title "Green Economy and Urbanization" was to strengthen the research cooperation between Germany and China in the area of green economy. The event was organised by the Alexander von Humboldt Foundation and the Beijing University of International Business and Economics (UIBE). Read more: http://www.zew.de/news2514 11.12.2013 DIFI Report Published for the Fourth Quarter of 2013 - The German Real Estate Finance Index (DIFI) Continues its Upward Trend: In the fourth quarter of 2013, the German Real Estate Finance Index (DIFI) has increased by more than three points compared to the previous quarter. With 28.0 points, the DIFI balance is now clearly in positive territory and even reaches its highest value since the launch of the survey in 2011. Read more: http://www.zew.de/news2507 11.12.2013 ZEW President Clemens Fuest on "A Coalition Agreement for the Holiday Season": With Christmas around the corner, who wants to think about cinching one's belt to reduce spending? We're much more inclined to think about Santa Claus, and the gifts he will bring. A little known variation of the Santa Claus legend involves a family that has frittered away its wealth. The father is desperate. Yet during the night he hears a quiet jingle. And in the morning, he finds a sack full of gold in the living room - Santa Claus was there! In designing their coalition agreement, the CDU and SPD were apparently motivated by similar festive sentiments and hopes. They've drafted a long wish list: increased pensions for retirees receiving minimal benefits, as well as for mothers, in addition to early retirement at 63. The eyes of the children light up at such generous promises, for they will be old one day too. Other items on the agenda include a universal minimum wage, rent price controls, and government intervention to keep electricity prices low. Municipalities are to receive more money, and more roads are to be built. In short, no one is to be short-changed when it comes to stuffing the Christmas stockings. Read more: http://www.zew.de/news2511 11.12.2013 Q&A: The Path Ahead in Global Climate Protection - A Stronger Emphasis on National Policy: At the recent climate change conference in Warsaw, Prof. Andreas Loeschel, the head of ZEW's environmental economics department, presented the results of various climate research projects conducted at ZEW. In this Q&A, Prof. Loeschel explains why he supports a hybrid approach to climate policy. Read the interview: http://www.zew.de/news2512 10.12.2013 New Publication JUNGE UNTERNEHMEN Replaces Former ZEW Start-up Report: ZEW and Creditreform will regularly report on foundation dynamics in Germany in their joint German publication JUNGE UNTERNEHEMEN (Young Firms). This newly launched publication features recent studies and research results on firm foundations as well as reports on the development of young firms. Starting from the spring of 2014, the report will be published twice a year as a PDF file and will replace the ZEW Gruendungsreport (ZEW Start-up Report). You can conveniently receive the JUNGE UNTERNEHMEN report by e-mail. You can order the publication by filling in the order form (in German): http://umfragen.zew.de/Formicula/jungeunternehmen 04.12.2013 Against a Backward-Looking Economic Policy - Professor Christoph Schmidt Speaks at ZEW: Professor Christoph Schmidt, Chair of the German Council of Economic Experts, presented the 2013-14 Annual Economic Report at ZEW in Mannheim in early December. Some 200 participants attended the Council member's speech, which formed part of the lecture series "First-Hand Information on Economic Policy." Read more: http://www.zew.de/news2502 25.11.2013 ZEW Presents Research Results at the 2013 United Nations Climate Change Conference in Warsaw: Researchers of the ZEW Research Department "Environmental and Resource Economics" presented the results of recent projects at the United Nations Climate Change Conference in Warsaw. The conference took place from 11 to 22 November and featured a number of side events running parallel to the negotiations. Side events provide a platform for researchers to discuss scientific and position papers on environmental and climate-related issues with colleagues, negotiators and representatives of the civil society, for example NGOs. Read more: http://www.zew.de/news2497 2. CALL FOR PAPERS 2.1. ZEW Workshop Skill Mismatch - Microeconomic Evidence and Macroeconomic Relevance (April 10-11, 2014) The Centre for European Economic Research (ZEW) is pleased to announce the workshop "Skill Mismatch: Microeconomic Evidence and Macroeconomic Relevance" in Mannheim on April 10-11, 2014. Francis Green, renowned Professor of Labour Economics and Skills Development at the Institute of Education at the University of London, will be the keynote speaker. The objective of the workshop is to bring together 15-20 economists and scholars with a focus on skill mismatch and related fields of research from Europe and overseas. Empirical as well as theoretical contributions are welcome. The deadline for submission of full papers or extended abstracts is February 1, 2014. Please submit papers in PDF or MS Word format to mismatch2014 at zew.de. Additional information and Call for Papers: http://www.zew.de/skill-mismatch2014 2.2. Twelfth ZEW Conference on the Economics of Information and Communication Technologies (June 16-17, 2014) The Centre for European Economic Research (ZEW) in Mannheim, Germany, is holding its 12th "Conference on the Economics of Information and Communication Technologies" on June 16-17, 2014. The objective of the conference is to discuss recent scientific contributions to the economics of information and communication technologies (ICT) and the economics of ICT industries. Theoretical, empirical and policy-oriented contributions are welcome. Please submit papers as PDF or MS Word file to ict-conference at zew.de no later than March 10, 2014. Additional information and Call for Papers: http://www.zew.de/ict-conference 3. STAFF 3.1. Visiting Researchers Prof. Frans de Vries and Bouwe Dijkstra, PhD, Visiting Researcher at ZEW: Professor Frans de Vries, PhD, and Bouwe Dijkstra, PhD, were visiting researchers at ZEW's Research Department "Environmental and Resource Economics, Environmental Management" from December 10 to 12, 2013. Frans de Vries is Professor in Economics with the Management School of the University of Stirling (UK). His research interests are at the intersection of environmental economics, the economics of technological innovation and industrial organization. Bouwe Dijkstra is Associate Professor with the School of Economics of the University of Nottingham (UK). His main interest is in environmental economics, particularly instruments of environmental policy, eco-innovation, political economy aspects as well as international trade and capital flows. During their stay, they were collaborating with ZEW researchers on a project on policy-induced stimulation of environmental R&D. Additional information on the project at: http://www.zew.de/project1310 Professor Ricardo A. Daziano Visiting Researcher at ZEW: Prof. Ricardo A. Daziano, PhD, was a visiting researcher at ZEW's Research Department "Environmental and Resource Economics, Environmental Management" from December 9 to 13, 2013. He is assistant professor and David Croll Fellow at the School of Civil and Environmental Engineering at Cornell University, US. His research focuses on theoretical and applied econometrics of consumer behaviour, specifically on discrete choice models applied to technological innovation and transportation demand. During his visit at ZEW, he primarily conducted empirical research with choice data from a survey among potential car buyers in China. Additional information on Ricardo A. Daziano at: http://www.cee.cornell.edu/cee/people/profile.cfm?netid=ra477 4. PRESS RELEASES 19.12.2013 - ZEW/ProgTrans (mac/ggr) ZEW/Progtrans-Transportmarktbarometer - Freight Transportation Prices Expected to Rise Until Mid-2014: The sentiment in the German transport sector shows a further improvement. Freight volumes are expected to rise or at least remain at the same level in almost all transport sectors and traffic relations for the coming six months. An increase of freight transportation prices is therefore expected for all transport markets, however, to a different degree. This is the result of the latest TransportmarktBarometer (Transport Market Barometer), a survey on a quarterly basis among 250 top executives of the transport and shipper industry in Germany. It is conducted by ProgTrans AG in Basel and the Centre for European Economic Research (ZEW) in Mannheim. Read more: http://www.zew.de/en/press/2522 19.12.2013 - ZEW (zil/kbo) ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe (CEE) - Economic Expectations Decline Slightly: In December 2013 economic expectations for Central and Eastern Europe including Turkey (CEE) have slightly decreased. The ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE region has lost 4.1 points and now stands at a level of 37.5 points. The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe eflects 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 Centre for European Economic Research (ZEW) in Mannheim with the support of Erste Group Bank, Vienna, since 2007. Read more: http://www.zew.de/en/press/2523 18.12.2013 - ZEW (fsa/kbo) ZEW-ZEPHYR M&A Index - First Signs of Recovery in Worldwide M&A Activities: The downward trend in worldwide mergers and acquisitions (M&A) as observed in 2012 and the first half of 2013 seems to have stopped. Between July and October 2013, global M&A activities have increased notably, compared to the first half of 2013. In July and October, the ZEW-ZEPHYR M&A Index, which reflects the number of mergers and acquisitions realised worldwide, thus reached 125 and 123 points - the highest index values of the year so far. Global M&A activities are expected to keep recovering until the end of the year. These are the results of calculations by the Centre for European Economic Research (ZEW) based on the database of Bureau van Dijk (BvD). Read more: http://www.zew.de/en/press/2520 18.12.2013 - ZEW (lja/kbo) ZEW-CS Financial Market Test Switzerland - Positive Economic Outlook only Dampened by Stock Market Expectations: In December 2013 economic expectations for Switzerland have increased by 7.8 points. Accordingly, the ZEW-CS Indicator of economic expectations has reached the 39.4 points-mark. This level was reached for the last time in May 2010 when the Eurozone crisis was in its early stages. 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) in cooperation with Credit Suisse (CS). Read more: http://www.zew.de/en/press/2521 17.12.2013 - ZEW (fmo/ggr) ZEW Indicator of Economic Sentiment - Optimism Continues: Economic expectations for Germany have improved by 7.4 points in December 2013. The ZEW Indicator of Economic Sentiment for Germany now stands at 62.0 points (historical average: 24.2 points). This is the indicator's best result since April 2006. "With respect to the year 2014, the surveyed financial market experts are quite optimistic. Despite rather disappointing economic data released recently, the financial market experts expect the economic development in Germany and the eurozone to improve further in 2014," says ZEW President Prof. Dr. Clemens Fuest. The assessment of the current economic situation for Germany has also improved in December. The respective indicator climbed by 3.7 points to a level of 32.4 points. Read more: http://www.zew.de/en/press/2518 12.12.2013 - ZEW (gla/kbo) ZEW-PwC Indicator of Economic Sentiment China - Favourable Prospects for Trading Activities of German Businesses in China: Favourable prospects for German businesses active in China: Trading activities and German exports to China will develop positively until mid-2014. This development is closely connected to the expected rise in Chinese domestic demand. Furthermore, Germany is a very popular destination for Chinese investors. In the coming six months, Chinese businesses are very likely to invest to a greater extent in German businesses and projects. These are the findings of a quarterly survey among executives from German industrial enterprises in China, conducted by the Centre for European Economic Research (ZEW) in collaboration with PricewaterhouseCoopers (PwC) and the German Chamber of Commerce in China. Read more: http://www.zew.de/en/press/2513 10.12.2013 - KfW/ZEW (jeh/Hoepfner) KfW/ZEW Start-up Panel - High-Tech Start-ups Are Few but Have Impact: Many important impulses for national economies emanate from high-tech start-ups. In particular industrial start-ups within the high-tech sector, though comparably small in number, have a large workforce and are both innovative and eager to invest. These are the results of the KfW/ZEW Start-up Panel, a structural analysis of the economic activity of firms that have been founded in Germany within the last four years. The study was conducted by the KfW Bankengruppe (KfW banking group), ZEW and the credit rating agency Creditreform Read more: http://www.zew.de/en/press/2505 09.12.2013 - ZEW (tko/kbo) New Chairman of ZEW Sponsors' Association for Science and Practice Appointed: After many years of honorary service in the ZEW Sponsors' Association for Science and Practice, Dr. Dr. Peter Bettermann, who had chaired the association for nine years, has left office pursuant to the association's statutes. Prof. Dr. Andreas Dulger has been appointed his successor as chairman of the sponsors' association, effective December 9, 2013. Read more: http://www.zew.de/en/press/2503 04.12.2013 - ZEW (gla/kbo) China Economic Panel (CEP) by ZEW and Fudan University - Improved Outlook for Economic Development in China: In November the CEP Indicator of Economic Sentiment for China has improved by 26.3 points reaching a value of 30.8 points. The CEP-Indicator captures the expectations of financial market experts regarding the economic development in China over the course of the next twelve months. About 75 percent of the surveyed experts assume economic conditions to improve further. Read more: http://www.zew.de/en/press/2501 5. RECENT PUBLICATIONS IN ENGLISH 5.1. ZEWnews English Edition ZEWnews English Edition November/December 2013 * Who is "Any Individual"? Cartel Suppliers' Standing to Claim Damages in Antitrust Actions * Europe's Stainless Steel Industry Needs Open Global Markets for Key Raw Materials * Integrating Immigrants Into the Labour Market - Wage Subsidies Recommended * Most Start-up Founders Look Mainly for Team Members with Similar Backgrounds * Women Continue to Lag Behind as Entrepreneurs * Sinking CO2 Prices Weaken Emissions Trade, but Recovery Is in Sight for the Medium Term * Conference: The Rebound Effect of Energy Efficiency Improvements is no Threat * Opinion Regarding Germany's Trade Surplus: A Cause for Concern? Download as PDF file(*) (reference is given at the end of "RECENT PUBLICATIONS"): http://ftp.zew.de/pub/zew-docs/zn/en/zn11122013.pdf This edition contains the additional M&A Report, which includes the following articles: * M&A Index Germany - Still Waiting for Recovery * Souvereign Debt Crisis Hinders Recovery of the M&A Market * Competition Authorities Intervene in Logistics Industry * M&A Activities in the Commodities Sector Drop * Banks Facing New Challenges * High M&A Activity in Spanish Construction Sector Download as PDF-file(*): http://ftp.zew.de/pub/zew-docs/zn/en/schwerpunkte/ma-report/mareport_122013.pdf 5.2. ZEW policy brief ZEW policy brief - No. 9, December 2013 Financial Sector and Output Dynamics in the Euro Area Countries Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/policybrief/pb09-13.pdf 5.3. Financial Market Report Switzerland Financial Market Report Switzerland January 2014 * Positive Outlook Dampened Only by Stock Markets * Analysts Anticipate Positive Inflation * Longer-Term Interest Rates Seen Edging Higher * EUR/CHF Expected to Remain Stable * Anticipation of Tapering Weighing on Stock Markets * Special Questions: Stable Long-Term Expectations Download as PDF file(*): http://www.zew.de/FinancialMarketReportSwitzerland012014.pdf 5.4. ZEW Discussion Papers 13-108 Tim-Alexander Kroencke; Grit Muehler; Maresa Sprietsma Return and Risk of Human Capital Contracts Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13108.pdf 13-107 Bernd Fitzenberger, PhD; Katrin Sommerfeld; Susanne Steffes Causal Effects on Employment After First Birth - A Dynamic Treatment Approach Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13107.pdf 13-106 Mathias Dolls; Clemens Fuest; Dirk Neumann; Andreas Peichl Fiscal Integration in the Eurozone: Economic Effects of Two Key Scenarios Download as PDF file(*): http://ftp.zew.de/pub/zew-docs/dp/dp13106.pdf 5.5. Expertises/Research Reports Andreas Sachs (2013), Governance Structures in Europe, European Commission, Brussels. Download as PDF file(*): http://www.zew.de/publication7269 Els Van de Velde, Pieterjan Debergh, Anold Verbeek, Christian Rammer, Katrin Cremers, Paula Schliessler, and Birgit Gehrke (2013), Production and Trade in KETs-based Products: The EU Position in Global Value Chains and Specialization Patterns Within the EU, European Commission, DG Enterprise, Brussels. Download as PDF file(*): http://www.zew.de/publication7248 IN GERMAN 5.6. ZEW-Wachstums- und Konjunkturanalysen (ZEW Growth and Business Cycle Analyses) ZEW Growth and Business Cycle Analyses No. 4 (December) - 2013 * Slighly Increased Economic Performance in Autumn 2013 and Promising Prospects for 2014 * Projected Situation in the EMU * Results of the 2013 November Survey * Optimism Among Media Service Providers * Determining Overall Economic Effects of the "Hartz" Reforms in Germany * Examining the Share of Growth-Enhancing Expenditures in EU Regional Policy * Distribution of Productivity in View of Foreign Activities and Technological Intensity * EU Candidate Turkey - Economic Perspectives Download as PDF (in German)(*): http://ftp.zew.de/pub/zew-docs/kr/kr1304.pdf 5.7. ZEW-Finanzmarktreport (ZEW Financial Market Report) ZEW Financial Market Report January 2014 * Economic Optimism Prevails * ECB: Constant Interest Level Expected * USA: Economic Expectations Substantially Improved * Japan: Slightly Better Economic Situation * Great Britain: Economic Situation Recovered * Special Question: Less Demand for Corporate and Government Bonds in 2014 Download as PDF file (in German)(*): http://ftp.zew.de/pub/zew-docs/frep/012014.pdf 5.8. Deutscher Immobilien-Finanzierungsindex(DIFI)-Report (German Real Estate Finance Index (DIFI) Report) DIFI Report Fourth Quarter - 2013 * Assessment of Financing Conditions Remains Optimistic * Stabile Sentiment on Refinancing Markets * Special Question: Competition among Financial Donors for Core Real Estate Financing Download as PDF file (in German)(*): http://ftp.zew.de/pub/zew-docs/DIFI/DIFI122013.pdf 5.9. ZEW-Gruendungsreport (ZEW Start-up Report) ZEW Gruendungsreport No. 1, December 2013, adresses the current start-up situation in Germany. This issue's articles focus on the topics "Weiterer Einbruch der Gruendungstaetigkeit" ("Further Collapse of Start-up Activity), "Durchschnittsalter der Gruender steigt" (Average Age of Founders Rising) and "Die Hausbankentscheidung junger Unternehmen" (How Young Companies Decide for a Main Bank). Download as PDF file (in German)(*): http://ftp.zew.de/pub/zew-docs/grep/Grep0113.pdf 5.10. Gutachten/Forschungsberichte (Expertises/Research Reports) Michael Bretz, Juergen Egeln, Sandra Gottschalk, Georg Metzger, Martin Murmann, Michaela Niefert, Katrin Ullrich, and Margarita Tchouvakhina (2013), Gruendungspanelbericht "Junge Hightech-Unternehmen trumpfen auf" (Start-up Panel "Young Hightech Firms Firms Shape up well"), Neuss, Frankfurt, and Mannheim. Download as PDF file (in German)(*): http://www.zew.de/publication7276 (*) 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 Demand-Side Analysis of the Economic Role of Creative Industries http://www.zew.de/project1384 Study on Firm Growth, Innovation and the Business Cycle http://www.zew.de/project1383 7. EVENTS 7.1. Scientific Events 23.01.2014 ZEW Research Seminar: Time-Varying Noise Trader Risk and Asset Prices Speaker: Qingwei Wang (ZEW) Location of the event: ZEW, Mannheim Additional information: http://www.zew.de/event1882 ____________________________________________________________________ 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: Vincent von Uechtritz und Steinkirch, Jule Zenker 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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