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Latest Press Releases

August 2015

19.08.2015 – ZEW (pma/fkr/jpr)

Energy Market Experts Forecast Medium-Term Risks for Energy Providers as a Result of the Energy Transition

The turnaround in German energy policy, the energy transition (“Energiewende”), is considered one of the major energy policy projects in German history. Such an ambitious project will bring about notable changes in many areas of the German business landscape. Over the medium term, the energy transition will have a significant impact on the economic situation of companies in the energy sector, as well as on companies involved in the construction of power plants. The resulting opportunities and risks, however, are unevenly distributed. This is a finding from the current Energy Market Barometer carried out by the Mannheim Centre for European Economic Research (ZEW). More than 200 energy market experts participated in the survey. They were asked to assess the consequences of the energy transition on the economic situation of companies in the energy sector and on the German economy as a whole on a five-year horizon. read more

18.08.2015 – ZEW (rge/jpr)

ZEW Energy Market Barometer - Energy Market Experts Expect Stagnation in Energy Prices in the Short Run

Energy prices in Germany are set to stagnate over the coming six months. On a five-year horizon, however, electricity, oil and gas prices are expected to rise once again. No explicit trend can be observed for medium-term coal prices. These are the central findings of the ZEW Energy Market Barometer, a biannual survey among approximately 200 energy market experts, conducted by the Mannheim Centre for European Economic Research (ZEW). read more

17.08.2015 – ZEW (mye/mdm/jpr)

Higher Spending in Years of Local Elections

Municipal public spending often increases prior to elections. This recurring phenomenon is the result of "political budget cycles", that is, strategic manipulation of expenditures or undue influence on other fiscal variables by elected representatives in office. Their motivation is to put themselves in a more positive light in view of upcoming elections. A study based on municipal data of the German States of Bavaria and Baden-Württemberg, conducted by the Mannheim Centre for European Economic Research (ZEW), shows that public spending increases particularly when local council and mayoral elections coincide, and when the incumbent mayor runs for re-election. read more

13.08.2015 – ZEW (zil/fkr/jpr)

ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe (CEE) - Slight Upturn in Economic Expectations

Economic expectations for Central and Eastern Europe including Turkey (CEE region) have slightly improved in August 2015. In the current survey, the ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE region has increased by 3.5 points. The indicator now stands at a level of 19.0 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

12.08.2015 – ZEW (lja/fkr/jpr)

ZEW-CS Financial Market Test Switzerland - Economic Outlook Returns to Positive Territory

The ZEW-CS Indicator for Switzerland has increased by 11.3 points in August 2015, thereby rising from its July value of minus 5.4 points to a current reading of 5.9 points. Following significant deterioration as a result of the Swiss Franc shock at the beginning of the year, the indicator has remained more or less closely around zero points for the last four months. A reading of zero indicates that financial experts expect neither deterioration nor improvement of the Swiss economy. 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. The indicator is calculated on a monthly basis by the Mannheim Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS), Zurich. read more

11.08.2015 – ZEW (jrr/dre/jpr)

ZEW Indicator of Economic Sentiment - German Economic Sentiment Declines Once Again

The ZEW Indicator of Economic Sentiment for Germany declines again in August 2015. Decreasing by 4.7 points compared to the previous month, the index now stands at a level of 25.0 points (long-term average: 24.9 points). "The German economic engine is still running smoothly. However, under the current geopolitical and global economic circumstances a substantial improvement of the economic situation in Germany over the medium term is improbable. That is why economic sentiment has declined," says ZEW President Professor Clemens Fuest. read more

05.08.2015 – ZEW (msc/ggr/jpr)

China Economic Panel (CEP) of the Centre for European Economic Research (ZEW) and Fudan University (Shanghai) - Economic Expectations for China to Date Unimpressed by Stock Market Turmoil

The CEP Indicator, which reflects the expectations of international financial market experts regarding China's macroeconomic development over the coming twelve months, has slightly declined in the current survey period (July 14-30, 2015). The indicator has dropped from 9.0 to 8.8 points compared to the previous month. Expectations for China's economic development in 2015 and 2016 have hardly changed either compared to the June reading. The surveyed experts forecast an average GDP growth of 6.8 per cent in 2015, and a GDP growth of 6.7 per cent in 2016. read more

03.08.2015 – ZEW (she/fkr)

ZEW-ZEPHYR M&A Index - Mega Deals to Spur Global Mergers and Acquisitions

The global M&A market continues to show a very strong performance. Spurred by a number of record deals, the upward trend at the global M&A market has persisted. This is the result of recent calculations by the Centre for European Economic Research (ZEW) based on the Zephyr database of Bureau van Dijk (BvD). read more

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

24.07.2015 – ZEW (jpr/ybr (Video))

Dialogue on Deck: "Cities Need Founders" – ZEW Hosts Discussion on Board the MS Wissenschaft

Why is start-up activity in Germany decreasing, and what are the characteristics of an attractive business location? These were the main topics discussed at the "Dialogue on Deck: Cities Need Founders" event staged by the Centre for European Economic Research (ZEW) on July 23. The event took place on board the exhibition ship MS Wissenschaft (MS Science), which anchored in Mannheim from July 23-26, 2015. Dr. Peter Kurz, First Major of the City of Mannheim, Dr. Georg Licht, head of the ZEW Research Department "Industrial Economics and International Management", and Jacqueline Yildirim, founder of JACQ GmbH, discussed the overall start-up situation in Germany and, in particular, in Mannheim, as well as the factors that are decisive for the attractiveness of business locations for founders. read more


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