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Latest Press Releases

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

19.02.2015 – ZEW (zil/ggr/jpr)

ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe (CEE) - Economic Prospects Brighten Up

In February 2015 economic expectations for Central and Eastern Europe including Turkey (CEE region) improve in double digit. In the current survey the ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE region has increased by 14.2 points. The indicator now stands at a level of 39.3 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

18.02.2015 – ZEW (lja/ggr/jpr)

ZEW-CS Financial Market Test Switzerland - Plunge in Switzerland’s Economic Outlook

The Credit Suisse ZEW Indicator, which tracks analysts' expectations for Switzerland's economy for the coming six months, plummeted by 62.2 points in February 2015 to a minus of 73.0 points. This nosedive - the biggest in the history of the indicator - shows that in the aftermath of the removal of the EUR/CHF exchange-rate floor the financial analysts surveyed are quite unanimously forecasting a worse performance for Switzerland's economy than before this decision. 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 Mannheim Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS), Zurich. read more

17.02.2015 – ZEW (dre/jrr/jpr)

ZEW Indicator of Economic Sentiment - ZEW Indicator of Economic Sentiment Increases Slightly

Gaining 4.6 points compared to the previous month, the ZEW Indicator of Economic Sentiment for Germany stands at 53.0 points in February 2015 (long-term average: 24.6 points). Reaching its highest value since February of 2014, the indicator has increased for the fourth consecutive time. read more

06.02.2015 – ZEW (rge/pma/nwo/fkr)

ZEW Energy Market Barometer: Energy Prices on German Wholesale Market Set to Increase Until 2020

After a short period of stagnation, energy prices on the German wholesale markets are expected to increase again in the medium term until 2020. This is the result of the current Energy Market Barometer, a unique nationwide survey of energy experts regarding their price expectations for electricity, crude oil, natural gas, and coal on the German wholesale market. The Energy Market Barometer is carried out by the Centre for European Economic Research (ZEW). read more

04.02.2015 – ZEW (ole/fkr)

China Economic Panel (CEP) of the Centre for European Economic Research (ZEW) and Fudan University (Shanghai) - Economic Outlook for China Weakens Further

Economic expectations for China further declined in January 2015. The CEP Indicator, which reflects the expectations of international financial experts regarding China's macroeconomic development over the next twelve months, decreases by 14.2 points to a level of minus 7.6 points in the current survey period (January 12-26, 2015). The CEP Indicator has reached negative territory for the first time since the survey began in 2013 and continues to fall short of its long-term average of 11.9 points. A negative indicator value means that the majority of analysts within the panel expect overall economic activity to shrink. read more

02.02.2015 – ZEW (mkn/dro/jpr)

Carbon-Neutral Travelling Is Conquering Long-Distance Coach Market

Carbon-neutral travelling is becoming more and more important for providers on the young German long-distance coach market. In addition to low prices, providers are increasingly trying to attract customers with a positive environmental record. Passengers are given the opportunity to offset their carbon emissions by paying an extra fee when purchasing tickets. In the long term, the idea works best if coach operators make an equal contribution to the compensation. These are the findings of a recent study by the Centre for European Economic Research (ZEW) supported by the Federal Ministry of Education and Research. read more

January 2015

29.01.2015 – ZEW (ole/msc/jpr)

ZEW-PwC China Economic Barometer Q1 2015 - German Managers Little Satisfied With Chinese Measures Against Cyber-Crime

Only one out of ten German managers in China thinks that Chinese laws and institutional structures protect their companies against cyber-attacks. About 60 per cent of the executives in China believe that protection against cyber-crime is “poor” or even “very poor”. This is the result of a special survey by the ZEW-PwC China Economic Barometer in the first quarter of 2015. The survey asks German companies in China about the situation and development of the Chinese real economy on a quarterly basis. The concrete danger of worldwide cyber-crime is actually demonstrated by the example of Sony Pictures. The company has recently become the victim of a spectacular cyber-attack. read more

27.01.2015 – ZEW (der/jpr)

German Information Economy - An Optimistic Start into the New Year for Information Economy Companies

The positive economic trend for the German information economy continues. The companies in the information economy sector are largely optimistic concerning the economic situation in the fourth quarter of 2014 as well as the economic development in the first three months of 2015. The ZEW Economic Sentiment Indicator for the Information Economy, which is based on assessments of the current situation and on expectations, had a reading of 64.4 points at year end. This is the result of a survey in the information economy conducted by the Centre for European Economic Research (ZEW) in December 2014. read more

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

23.01.2015 – ZEW (bpe/cra/fkr/jpr)

ZEW Innovation Survey - German Enterprises Hit a Record in Innovation Expenditure

The German economy continues to invest heavily in innovation. In 2013, EUR 144.6 billion were spent on the development and implementation of new products and processes. This is the largest sum ever spent in a single year, exceeding the 2012 figure by 5.3 per cent. Large enterprises account for the lion's share with more than 70 per cent. Companies are planning to further expand innovation expenditure in 2014 (to EUR 146.1 billion) and 2015 (to EUR 148.2 billion). At the same time, revenues from product and process innovations are stagnating, and the rate of innovators, which is determined by small enterprises, decreased in 2013. read more

22.01.2015 – ZEW (cfu/jpr)

ZEW President Fuest on ECB Decision

The European Central Bank (ECB) has decided on the volume of its bond-buying programme: The ECB will buy eurozone government bonds and other assets worth EUR 60 billion per month until September 2016. The President of the Centre for European Economic Research (ZEW), Professor Clemens Fuest, comments: "I consider the ECB’s decision to be an acceptable compromise that is consistent with the ECB's mandate. read more


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