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News tagged with „Europe“

  • 19 News

July 2015

28.07.2015 – ZEW (fhe/ggr)

ZEW Researchers Present Proposal for European Fiscal Union

The dispute over a solution to the Greek sovereign debt crisis has revealed the major shortcoming of eurozone crisis management: there is no effective strategy to enforce negotiated reforms and budget cuts if a member of the European Economic and Monetary Union is not playing by the rules. Researchers from the Centre for European Economic Research (ZEW) stress that the institutional structure of the euro area is in need of reform. They also make a practical proposal on how to create a functional European Fiscal Union. read more

24.07.2015 – ZEW (csp/mev/ggr/jpr)

Inheritance Tax Reform Significantly Raises Costs for Business Transfers

For a number of years, the Centre for European Economic Research (ZEW) has regularly calculated the inheritance tax burden applicable when a large mid-tier sample company, in the legal form of a limited liability company or a partnership, is transferred to a close family member (a spouse or child). Calculations are carried out for Germany and 17 other countries. The sample company used has an inheritance tax value of approximately EUR 103 million. The model calculations carried out by ZEW, which are based on three reform proposals made by the German federal government, suggest that the sample company's inheritance tax burden would grow considerably. If the latest cabinet draft was implemented, the post-reform tax burden would increase by approximately 142 per cent. In absolute numbers, this corresponds to an increase of EUR 10.9 million to a total of EUR 18.6 million. read more

June 2015

17.06.2015 – ZEW (kfi/fkr/jpr)

Expert Statement by ZEW Economist Professor Katharina Finke on the European Commission's Action Plan to Reform Corporate Taxation in the EU

The European Commission presented its Action Plan for fair and efficient corporate taxation in the EU on June 17, 2015. According to Professor Katharina Finke, deputy head of the "Corporate Taxation and Public Finance" Research Department at the Centre for European Economic Research (ZEW), it is questionable whether the EC Action Plan will successfully curtail the fundamental problem of tax avoidance by multinationals in Europe: read more

May 2015

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

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

February 2015

24.02.2015 – ZEW (csp/fkr/jpr)

ZEW Study on Corporate Taxation in Europe - IP Box Regimes – A Double-Edged Sword for the Treasury

In several European countries, income from patents, trademarks or copyrights is taxed at a considerably lower rate than other income. Waiving taxes on intangible assets, governments aim to create incentives for companies to invest in research and development (R&D), and to pay taxes on the resulting profits in their countries. This concept is known as Intellectual Property (IP) Box regimes. This special tax treatment, however, has turned out to be a double-edged sword. A recent study conducted by the Centre for European Economic Research (ZEW) in cooperation with the University of Mannheim found that most European IP Box regimes enable multinationals to save taxes on income from intangible assets (IP income) without actually investing in R&D. read more

January 2015

26.01.2015 – ZEW (cfu/fhe/jpr)

After the Elections: Centre for European Economic Research Calls for a Greece Stress Test

After the election victory of Syriza, Europe should prepare for a Greek payment default. The eurozone must send signals for the coming negotiations that it is not susceptible to blackmail should Greece threaten with a payment stop. This is the result of an analysis concerning the changed post-election situation in Greece by Clemens Fuest, President of the Centre for European Economic Research, and Friedrich Heinemann, head of the Public Finance Department at ZEW. read more

November 2014

07.11.2014 – ZEW (ape/fkr/jpr)

ZEW Study on Stabilising and Transfer Effects in the Euro Area - European Unemployment Insurance Faces Dilemma

More substantial fiscal integration in Europe by way of a common unemployment insurance scheme for eurozone member states? This question is currently a subject of intense discussion. Would an automatic stabiliser like this necessarily turn Europe into a transfer union? A current study by ZEW shows that a European Unemployment Insurance would have cushioned the impact of the recent crisis in the most embattled euro area member states. Germany would have been a net contributor in the period between 2000 and 2013 despite the rather weak economic situation at the turn of the millennium. In future crises, however, burden-sharing might take a different turn. read more

September 2014

29.09.2014 – ZEW (cfu/ggr/jpr)

Bank Stress Test in Europe – Equity Base Is Still too Small

Before taking over responsibility for banking supervision in the eurozone by the end of 2014, the European Central Bank (ECB) investigates the financial solidity of banks in a stress test. It is a much debated topic what measures against potential capital shortfalls the banks subjected to the stress test have already taken before the assessment begins. For a study dedicated to this concern, the Mannheim Centre for European Economic Research (ZEW) has compared bank balance sheets from the fiscal years of 2012 and 2013. read more

August 2014

26.08.2014 – ZEW (hbo/jpr)

Youth Unemployment in Southern Europe: Experts Warn About Ill-Designed Policies

Without substantial reforms of the education systems and labour markets in Southern Europe, youths will continue to be much more affected by unemployment than the older generation of workers, even after the financial crisis. This is the finding of a study conducted by the Centre for European Economic Research (ZEW) Mannheim on behalf of Robert Bosch Foundation (Robert Bosch Stiftung). According to the authors of the report, the business-cycle-related rise in youth unemployment comes in conjunction with severe structural problems that were already present before the onset of the crisis. These include the incapacity of educational systems to provide youths with the skills demanded by firms, the duality of labour markets, with well-protected permanent positions on the one hand and precarious temporary jobs on the other, as well as insufficient wage-setting flexibility. As a consequence, structural reforms of educational and labour market institutions are necessary even in case of an uptake in economic growth. In the short term, supporting the mobility of young people through better access to information on employment possibilities abroad could help to alleviate regional differences in youth unemployment. However, many practical issues such as the recognition of degrees and the lack of language skills deter young people from starting a new job abroad, the experts add. read more

July 2014

18.07.2014 – ZEW (cfu/fhe/csc/jpr)

VIPS – Proposal for a Viable Insolvency Procedure for Sovereign States in the Eurozone

The government debt crisis unleashed a wave of reforms in 2010 – some of which were implemented in an overly hasty manner – to stabilise the euro and the heavily indebted European countries. Even though the eurozone's institutional framework and its capacity to respond to crises have been improved significantly, the architecture of the euro area remains vulnerable in one respect: the absence of a credible and well-defined debt restructuring mechanism in the event of a nation's insolvency, i.e. its loss of creditworthiness on the capital market. A recent study conducted by the Mannheim Centre for European Economic Research (ZEW) addresses this problem. The study conceives and depicts a Viable Insolvency Procedure for Sovereigns (VIPS) in the eurozone. read more

May 2014

14.05.2014 – ZEW (fhe/jpr)

Measuring Resistance to Reform in EU Member States: Lack of Trust in Policy-Makers Blocks Reforms in Southern Europe

The resistance in Southern EU Member States against necessary reforms largely stems from three factors: shattered trust in the countries' policy-makers and governments, an ageing population, and insufficient protection against poverty by the existing welfare systems. These are the findings of an in-depth analysis of the situation in Greece, Spain, Portugal, Italy and 13 other EU Member States conducted by the Centre for European Economic Research (ZEW). read more

12.05.2014 – ZEW (cfu/ggr)

ZEW Paper on the 2014 European Elections – Identifying and Exploiting Europe's Potential

The 2014 elections to the European Parliament take place at a time when Europe is facing considerable economic challenges. Doubts have been voiced about Europe's capability to cope with these challenges. Against this backdrop, the president of the Centre for European Economic Research (ZEW), Prof. Clemens Fuest, urges to identify and exploit the potential for growth that European integration offers. At the presentation of a ZEW paper in Brussels that identifies key policy areas for the EU in the coming years, Fuest said: "Europe urgently needs to achieve a sustainable economic recovery as well as a stringent concept for the future distribution of tasks between the European and national level." read more

April 2014

01.04.2014 – ZEW (cfu/ggr)

ZEW President Fuest Appointed to “High-Level Group” on EU Financing Reform

On a proposal of the European Council, the President of the Centre for European Economic Research (ZEW), Prof. Clemens Fuest, has been appointed to the newly created EU's "High-Level Group on Own Resources". The group’s objective is to develop proposals for the future financing of the European Union and to identify ways to make the present EU own-resources system more accountable, fair, and transparent. The European Commission, the European Council and the European Parliament had agreed on establishing such a group during the negotiations over the EU’s Multiannual Financial Framework for 2014–2020. The Commission, the Council and the Parliament each appoint three members to the working group. Former EU Commissioner and Prime Minister of Italy Mario Monti chairs the group. read more

November 2013

26.11.2013 – ZEW (twa/kbo)

Private-Sector Wage Subsidies Could Help Unemployed Immigrants Find a Job

Access to the regular labour market is much harder for immigrants than for the native-born population in many European countries. Governments in Europe thus use active labour market policies to support unemployed immigrants. Wage subsidies in the private sector are particularly effective in facilitating the labour market integration of immigrants, while training measures, job search assistance or wage subsidies in the public sector are less suitable to increase immigrants’ employment rates. These are the findings of a meta-analysis conducted by the Centre for European Economic Research (ZEW) in Mannheim. ZEW researchers evaluated 33 scientific studies on the impact of labour market policies on immigrants in Denmark, Finland, Germany, the Netherlands, Norway, Sweden and Switzerland for this analysis. read more

November 2012

19.11.2012 – ZEW (fmi/ggr)

A Significant Part of EU Regional Policy Funds Do Not Enhance Long-Term Economic Growth

Negotiations on the new EU financial framework for 2014 to 2020 are well underway. Due to the tense budgetary situation of many EU Member States, each budget item needs to be re-examined. EU regional policy, which currently makes up about 36 per cent of EU’s total budget expenditure, offers considerable savings potential. This is the central finding of an analysis conducted by the Centre for European Economic Research (ZEW) in Mannheim on behalf of the German Federal Ministry of Finance. read more

March 2010

22.03.2010 – ZEW (kre/kbo)

New European Union Energy Label Slows Down Sales of Energy-Saving Appliances

The European Commission makes a second attempt to introduce a new energy label for electric appliances. This label is to encourage the European consumers to buy energy-saving appliances. However, there are some signs that the second attempt will not be successful either. If an appliance carries the new energy label instead of the existing European Energy Label, low energy consumption does not have a great impact on the consumer decision. Consumers are not willing to pay more for an energy-saving appliance if it is labelled with the new energy label. These are the findings of a study by Stefanie Heinzle and Rolf Wüstenhagen (University of St. Gallen) within the research project seco@home that is coordinated by the Centre for European Economic Research (ZEW) Mannheim. The study compares TV sets with the existing European Energy Label and the new energy label as well as the labels’ impacts on consumers. read more

October 2008

15.10.2008 – ZEW (mbo/kbo)

Sovereign Wealth Funds from the Middle East and Asia Buy Stakes in Europe and the USA

Sovereign wealth funds from the Middle East and Asia are increasingly buying stakes of European and U.S. companies. Due to the global financial market crisis the shares are available at low prices. Therefore they are very popular among investors from the Middle and Far East. Those state-owned funds run by oil-exporting as well as Asian countries invested more than 43 billion Euros mostly in European and U.S. financial institutions in the year 2007. In the first half of 2008 they had already acquired stakes, worth 21.6 billion Euros. This is the result of a survey conducted by the Centre for European Economic Re-search (ZEW), Mannheim, and Bureau van Dijk Electronic Publishing. read more

December 2006

07.12.2006 – ZEW (mbo/ggr)

Slight Increase of the Total Expense Ratio for Investments Funds in Europe Since 2001

The Total Expense Ratio (TER) for investments funds, measured as the total costs of a fund as a percentage of the average fund volume during a business year, has increased in a number of European countries in the years 2001 to 2005, but also decreased in a few others. read more


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