1. 19.10.2021 · ZEW (fhe)
    Comment
    European stability pact | Public Debt | Europe | EU Commission
    Image of Professor Dr. Friedrich Heinemann.

    The European Commission has initiated the debate on a possible reform of the Stability Pact by presenting a first discussion paper. In view of the sharp increase in debt ratios due to the pandemic and the high investment needs in the areas of climate policy and digitalisation, the paper proposes to review the existing debt rules. Professor Friedrich Heinemann, head of the Research Department “Corporate Taxation and Public Finance” at ZEW Mannheim, comments on this matter:

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  2. 01.09.2021 · ZEW (awh/vgr/deg)
    Comment
    mobile phone market | mobile phone network | Auctions | Market design
    Symbolic image for digital networks

    At the end of 2025, the spectrum usage rights in the bands at 800 MHz, 1,800 MHz and 2.6 GHz will expire. The Bundesnetzagentur (Federal Network Agency) has therefore sparked a discussion on how best to provide the freed-up spectrum for use from 2026 onwards in such a way as to ensure a functioning mobile radio market and optimal broadband coverage. For this purpose, the agency published a scenario paper on which ZEW President Professor Achim Wambach and Professor Vitali Gretschko, head of the Research Department “Market Design” at ZEW Mannheim, have provided their views.

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  3. 16.08.2021 · ZEW (awh/deg)
    Comment
    Crisis management | Economic crisis | Aircraft industry | Aircraft and Aerospace Industry | Air passenger transport
    ZEW President Professor Achim Wambach

    Today, the German government’s Economic Stabilisation Fund (ESF) announced its intention to sell part of the shares it holds in Lufthansa. Professor Achim Wambach, president of ZEW Mannheim and member of the Monopolies Commission, explains:

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  4. 30.07.2021 · ZEW (kki/deg)
    Comment
    ECB | Banking supervision | Banking crisis | Bank liquidity | Bank Regulation | Banking System
    [Translate to English:] Photo of ZEW economist Dr Karolin Kirschenmann.

    On 30 July, the European Banking Authority (EBA) published the results of the stress test it carried out on 50 banks in the euro area. Dr. Karolin Kirschenmann, deputy head of the “International Finance and Financial Management” Research Department at ZEW Mannheim, explains:

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  5. 22.07.2021 · ZEW (fhe/deg)
    Comment
    ECB | Interest rate policy | Euromarket | Monetary Policy
    Professor Friedrich Heinemann

    The Federal Statistical Office published its preliminary results on the development of the German inflation rate in August 2021. According to the calculations, the inflation rate measured by the German consumer price index has risen to 3.9 per cent, a slight increase compared to 3.8 per cent reported in 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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  6. 22.07.2021 · ZEW (fhe/deg)
    Comment
    ECB | Interest rate policy | Euromarket | Monetary Policy
    Professor Friedrich Heinemann

    For the first time since the reformulation of its strategy, the ECB Governing Council discussed the future course of its monetary policy. With today’s decision, the ECB has changed its monetary policy outlook. Interest rates are now to be kept low until the ECB expects inflation to reach and stay at two per cent for the foreseeable future. It explicitly allows for transitional phases in which the inflation rate is above the two per cent mark. Previously, inflation prospects of “close to, but below two per cent” were named as a precondition for an interest rate hike. Professor Friedrich Heinemann, head of the Research Department “Corporate Taxation and Public Finance” at ZEW Mannheim, explains:

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  7. 08.07.2021 · ZEW (fhe)
    Comment
    ECB | Monetary Policy | Inflation
    ZEW Econimist Professor Dr. Friedrich Heinemann.

    The ECB Governing Council has decided to change its inflation target. Previously, the central bank aimed to keep inflation “below, but close to, 2 per cent”. The “below but close” wording will be dropped in future, so that the ECB will now pursue a symmetrical 2 per cent inflation target. Proposals for formulations that explicitly set the target at an average inflation rate, on the other hand, have not gained acceptance. In addition, costs of housing, including for owner-occupied real estate, shall be more strongly taken into account in the measurement of inflation. Professor Friedrich Heinemann, head of the Research Department “Corporate Taxation and Public Finance” at ZEW Mannheim, comments on this matter:

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  8. 05.07.2021 · ZEW (fhe)
    Comment
    ECB | Monetary Policy | Interest Rate | Interest rate policy
    Photo of Professor Friedrich Heinemann.

    The monetary policy of the European Central Bank has been deemed unconstitutional in an expert opinion by former Constitutional Court judge Paul Kirchhof. According to the expert report, the ECB’s policy represents an expropriation of savers and violates the right to private property. Professor Friedrich Heinemann, head of the Research Department “Corporate Taxation and Public Finance” at ZEW Mannheim, comments on this matter:

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  9. 29.06.2021 · ZEW (awh)
    Comment
    Monopoly | Competition | Facebook | Technology-based company
    Image of the ZEW President Achim Wambach.

    A US court has dismissed the lawsuits against Facebook. The Federal Trade Commission and 40 US states had accused Facebook of having monopoly power in the social media market and wanted to force Facebook to reverse its acquisition of the image and video platform Instagram and the messenger service WhatsApp. Professor Achim Wambach, president of ZEW Mannheim and member of the German Monopolies Commission, comments as follows:

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  10. 28.06.2021 · ZEW (awh/rha)
    Comment
    China | Economic area | Competition
    ZEW President Achim Wambach comments on China

    On 1 July 2021, the Communist Party of the People’s Republic of China celebrates its 100th birthday. It governs a country whose importance for the global economy has grown enormously over the years. For Germany, the People’s Republic is a key export market. However, European companies are increasingly facing competition from Chinese companies.

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