1. 07.12.2021 · ZEW (msc/fbr/thc/sel)
    ZEW Indicator of Economic Sentiment
    ZEW Indicator of Economic Sentiment | ZEW Financial Market Survey | Business survey | Short-term forecast | Business cycle research | Cyclical indicator | Germany | Europe

    The ZEW Indicator of Economic Sentiment for Germany decreased in the current December 2021 survey, falling 1.8 points to a new reading of 29.9 points. The assessment of the economic situation in Germany has worsened again in the current survey. The corresponding indicator dropped 19.9 points to a level of minus 7.4 points. This is the first time since June 2021 that the situation indicator has been in negative territory again. Compared to the previous month, the outlook for economic development in the next six months has deteriorated considerably.

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  2. 06.12.2021 · ZEW (fpf/deg)
    Research
    Education | University education | Educational success | Educational research
     Students sit in a lecture hall and write.

    About one in four students in Germany drops out of a bachelor’s programme and about one in six drops out of a master’s programme. Although many of those affected start vocational training after dropping out, the time spent at university has negative financial consequences both for the tax authorities and for the dropouts themselves, according to a recent study by ZEW Mannheim. On the one hand, dropping out becomes a negative business for public budgets: Compared to high school graduates who go straight into vocational training, the government expenditure for dropouts exceeds the expected income from taxes and other levies over the following 40 years of their working lives. On the other hand, dropouts face a negative individual return on education compared to the reference group.

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  3. 29.11.2021 · ZEW (fhe)
    Comment
    Inflation | Consumer Price Index | Statistical office
    Image of the ZEW Economist Friedrich Heinemann.

    The Federal Statistical Office published its preliminary results on the development of the German inflation rate in November 2021. According to the calculations, the inflation rate measured by the German consumer price index rose further to 5.2 per cent compared to the previous month. Professor Friedrich Heinemann, head of the Research Department “Corporate Taxation and Public Finance” at ZEW Mannheim, comments on this matter:

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  4. 29.11.2021 · ZEW (pab/kso/deg)
    Research
    Labour force integration | Social integration | International Migration | Migration policy | Migration research | Refugees
    Bar chart showing the correlation between active volunteer groups and contact among refugees.

    Civic engagement in Germany has played an important role in the integration of migrants since autumn 2015. Migrants living in regions with active volunteer groups have had more frequent contact with Germans, have better German language skills and higher life satisfaction. These are the results of a recent study by ZEW Mannheim.

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  5. 15.11.2021 · ZEW (fbr/deg)
    Research
    Financial Markets | Money and Financial Markets | Inflation | Inflation rate
    It is not only consumers who are currently worried about rising inflation. Financial market experts also expect a higher inflation rate.

    The currently very high consumer price inflation rates in the euro area are expected to gradually decline over the next two years, but are projected to remain well above the ECB’s target of two per cent over this period. Disruptions in international supply chains, raw material shortages and high energy prices are expected to become less important drivers of inflation by 2023. On the other hand, the relevance of wage growth in the euro area for the experts’ inflation expectations has increased significantly compared to previous surveys, especially for the year 2022.

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  6. 11.11.2021 · ZEW (fhe/deg)
    Comment
    Inflation | Tax revenue estimation
    Picture of Professor Dr. Friedrich Heinemann.

    The German Federal Ministry of Finance’s Working Party on Tax Revenue Estimates presented the results of its new analysis today. According to the announced results, tax revenues will recover much faster from the pandemic in the coming years than previously assumed.

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  7. 11.11.2021 · ZEW (msf/deg)
    Research
    Digital Economy | Sovereignty | Competitiveness
    Diagram on the survey of the information economy and the manufacturing sector.

    Germany and Europe are lacking digital sovereignty. This jeopardises the ability of the German economy and its European partners to respond effectively to future challenges, to innovate and to remain competitive. This is the result of a study by ZEW Mannheim, which is based on a comprehensive evaluation of the existing literature and a representative company survey. On behalf of the Federal Ministry for Economic Affairs and Energy, ZEW researchers surveyed more than 1,200 companies from the information economy and manufacturing industry.

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  8. 11.11.2021 · ZEW (csp/deg)
    Research
    Tax avoidance | Tax planning | Tax fairness | Corporate taxation
    Coins standing in a glass on a wooden shelf.

    European companies will be obliged to disclose their country-related profits and income taxes in the form of so-called country-by-country reporting in the future. A corresponding draft directive was approved today by the Parliament of the European Union. The aim of the directive is to detect and curb tax avoidance practices. The announcement of a preliminary political agreement on 1 June 2021 to introduce such a directive had already led to noticeable reactions on the capital market: A current study by ZEW Mannheim, in cooperation with the University of Mannheim, identified cumulative average abnormal returns between ‑0.499 and ‑0.699 per cent for up to two days after the announcement. This corresponds to a cumulative loss in firm value of 48 to 65 billion euros.

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  9. 10.11.2021 · ZEW (pbo/bpe/deg)
    Research
    Research and Development | China
    Red Traditional Chinese building in front of blue sky.

    With the 14th Five-Year Plan, the Chinese government has set itself the ambitious goal of creating a more innovation-based economy and becoming the world’s leading nation in science and technology by 2050. To this end, gross expenditures on research and development (R&D) are targeted to grow by at least seven per cent annually between 2021 and 2025. There are plans to stimulate more R&D in companies through extensive subsidies and other policy incentives. However, this is not the end of the story. As a recent study by ZEW Mannheim shows, misappropriation of subsidies has been widespread in China in the past and has long stood in the way of efficient use of state funding. Therefore, as early as 2006, a seminal change in China’s innovation and industrial policy took place and numerous measures were introduced to improve funding instruments and curb their misuse. “Should such measures become even more effective in the future, China will turn into an increasingly innovative competitor on the world market and at the same time become more attractive as an R&D location for foreign companies,” says Dr. Philipp Boeing, China expert at ZEW, commenting on the results of the study.

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  10. 09.11.2021 · ZEW (awh/msc/fbr/deg)
    ZEW Indicator of Economic Sentiment
    ZEW Indicator of Economic Sentiment | ZEW Financial Market Survey | Business survey | Short-term forecast | Cyclical indicator | Business cycle research | Germany | Europe
    ZEW Index November 2011 stands at 31.7 points

    The ZEW Indicator of Economic Sentiment for Germany increased in the current November 2021 survey, climbing 9.4 points to a new reading of 31.7 points. This is the first time since May that the indicator has recorded a rise. The assessment of the economic situation in Germany has worsened again in the current survey, falling by 9.1 points to a level of 12.5 points.

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