1. 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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  2. 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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  3. 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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  4. 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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  5. 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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  6. 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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  7. 21.06.2021 · ZEW (awh)
    Comment
    Industrial Policy | Germany | Europe | Industrial change
    Professor Achim Wambach on the Day of German Industry.

    Shaping structural change poses a myriad of challenges for the industrial landscape and is the central topic at this year’s Day of German Industry (21 to 23 June 2021). ZEW President Professor Achim Wambach commented on this matter:

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  8. 18.06.2021 · ZEW (csp/clu)
    Comment
    Double taxation | Minimum level of taxation | OECD | Enterprise | corporate profit

    Support is growing for the introduction of a global minimum tax on corporate profits. This was clearly demonstrated at the recent meeting of the G7 finance ministers. The Federation of German Industries (BDI) took this as an opportunity to organise a panel discussion on “Global Minimum Tax – Consequences for the German Economy” on 18 June 2021, including Christopher Ludwig, a member of the team of tax experts led by Professor Christoph Spengel at ZEW Mannheim and the University of Mannheim. In recent months, the tax experts have closely examined and evaluated the OECD’s reform proposals. Spengel, who worked on a BDI paper on this topic, comments on the global minimum tax:

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  9. 09.06.2021 · ZEW (sru/deg)
    Comment
    Climate protection | CO2 | CO2 reduction | Climate policy
    ZEW Economist Sebastian Rausch.

    On 10 June, the German Bundestag will discuss an amendment to the Federal Climate Change Act. The amendment had become necessary after a ruling by the Federal Constitutional Court. Professor Sebastian Rausch, head of the Research Department “Environmental and Resource Economics, Environmental Management” at ZEW Mannheim, comments on this matter.

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  10. 07.06.2021 · ZEW (csp)
    Comment
    Tax Policy | Corporate taxation | Minimum level of taxation
     Prof. Christoph Spengel welcomes uniform, international standards in tax policy.

    At their meeting in London, the finance leaders from the Group of 7 countries agreed on backing the creation of a global minimum tax rate of at least 15 per cent for large companies. In addition, the agreement envisages forcing the largest and most profitable companies to pay taxes on part of their turnover to countries based on where they sell their services and goods. Until now, multinational companies have been able to shift profits and thus avoid taxation in countries with higher tax rates. Professor Christoph Spengel, tax expert at ZEW Mannheim and the University of Mannheim, comments on these plans:

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