Public Events
ZEW-Wirtschaftsforum | ZEW President | official ceremony
Change of presidency at ZEW (from left): Achim Wambach, Theresia Bauer and Clemens Fuest at the official handover ceremony.

Professor Achim Wambach, PhD, was inaugurated as the new President of the Mannheim Centre for European Economic Research (ZEW) in a ceremony on July 5, 2016. Wambach had already assumed the position as Director of Science and Research of the institute on April 1, 2016.

Public Events
ZEW Wirtschaftsforum | Competition | Social market economy | Digitisation
\\\"Entrepreneurs must have a fair chance to compete against monopolists,\\\" demands ZEW President Achim Wambach.

"The process of digitalisation poses a number of challenges to the social market economy in Germany," explains Professor Achim Wambach, President of the Mannheim Centre for European Economic Research (ZEW). In his opening address at the ZEW Economic Forum, which this year addresses the question "New Rules for the Digital Economy?", President Wambach makes it clear just how explosive the issues subsumed under the rather technical term "digital economy" really are.

Research
Taxes | Legislation | Inheritance tax | Reform actions

June 30, 2016, saw the expiry of the deadline imposed by the Federal Constitutional Court on the German Bundestag for the creation of a new statutory basis for the inheritance tax. Following a series of intermediate proposals, it seemed that a compromise had been reached. However, the future of this proposal is yet again under question, as it threatens to be refused by the German Bundesrat. And indeed, even if the Bundesrat agrees to the proposed revisions, the question remains as to whether the current proposal will hold up in the Federal Constitutional Court. This question has been the focus of an analysis carried out by the Mannheim Centre for European Economic Research (ZEW).

Research
Data protection | Data security | Mobile communications | Information Services | Information and communication
On average, free apps request more rights which are considered to be problematic than priced apps.

Downloading free apps goes hand in hand with the risk of granting unrestricted access to one’s personal data to third parties. A current study carried out by the Mannheim Centre for European Economic Research (ZEW) has shown the degree to which mobile applications are able to infringe on users' privacy rights in order to collect information about their behaviours, and the effect this has. The study has analysed the free apps that were available in the Google Play Store in 2012. The study has found that every second free app has access to sensitive information.

ZEW/Prognos Survey
Prognos/ZEW Transportmarktbarometer | Transport costs | Transport market
Experts Assume End to Falls in Transport Volumes and Prices in Almost All Markets.

Expected developments in German transport markets, in terms of both transport volumes and price developments, now show a clear turnaround since the pessimistic expectations seen in the first quarter of 2016. The sharp decline in transport volumes seems to be over and price expectations have stabilised. Experts even expect to see price rises in air, sea and road freight markets. These are the findings of the Prognos/ZEW Transport Market Barometer (TransportmarktBarometer) for the second quarter of 2016. In this quarterly survey, Prognos AG, Basel, and the Mannheim Centre for European Economic Research (ZEW) survey approximately 250 top executives from the transport and loading industry about their expectations for the development of transport volumes and prices on a six-month horizon.

CEE Indicator of Economic Sentiment
East European financial markets | Central Europe | Business survey | Cyclical indicator | Short-term forecast | Central-Eastern Europe | Eastern Europe | Turkey | ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe (CEE)
Economic expectations for the CEE region have improved again in in June 2016 to a level of 15.8 points.

Economic expectations for Central and Eastern Europe including Turkey (CEE region) have improved in June 2016 for the second consecutive time. In the current survey, the ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE region has climbed by 11.2 points to a level of 15.8 points.

CH Indicator of Economic Sentiment
Business survey | Cyclical indicator | Short-term forecast | Switzerland | ZEW-CS-Indicator
The ZEW-CS-Indicator for the economic sentiment in Switzerland has increased again in June 2016 to a reading of 19.4 points.

The ZEW-CS-Indicator for the economic sentiment in Switzerland has increased slightly. With an improvement by 1.9 points, the indicator reaches a reading of 19.4 points in June 2016. Economic expectations thereby continue the upward trend already witnessed in Q2 2016. In June, Swiss economic expectations reached their highest assessment balance since February 2014. 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 on a monthly basis by the Mannheim Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS), Zurich.

Comment
Constitutional court | ECB

For the President of the Centre for European Economic Research (ZEW), Achim Wambach, the decision reached today by the Federal Constitutional Court in regard to the ECB's OMT programme constitutes a wise middle course.

Research
Financial market experts | United Kingdom | Market exit | ZEW survey | European Union
The majority of experts expect the UK to remain in the European Single Market in case the referendum votes in favour of a Brexit.

Even if the Brexit referendum result is for leave, the UK’s status in the EU would remain uncertain, as there is still a real chance of about 40 per cent that this decision may be revised afterwards. These are the findings of a current study conducted by the Centre for European Economic Research (ZEW), Mannheim, among 200 financial analysts. On average, the experts estimate that there is a 58.5 per cent probability of a "Leave" vote to actually result in a Brexit.

ZEW Indicator of Economic Sentiment
ZEW Indicator of Economic Sentiment | Business survey | Germany | Short-term forecast | Cyclical indicator | Business Cycle
ZEW Indicator of Economic Sentiment for Germany, June 2016

The ZEW Indicator of Economic Sentiment for Germany has increased in June 2016. The index has improved by 12.8 points compared to the previous month, now standing at 19.2 points (long-term average: 24.4 points)."The improvement of economic sentiment indicates that the financial market experts have confidence in the resilience of the German economy. However, general economic conditions remain challenging. Apart from the weak global economic dynamics, it is mainly the EU referendum in Great Britain which causes uncertainty," says Professor Achim Wambach, President of ZEW.

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