1. 15.03.2021 · ZEW (mws/deg)
    Research
    Energy consumption
    Woman activates light switch.

    In Germany, customers usually receive their electricity, water and gas bills once per year. A recent study of ZEW Mannheim shows that this type of billing leads to more utility consumption. Paying these bills immediately could provide incentives to reduce consumption.

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  2. 12.03.2021 · ZEW (fhe)
    Comment
    Europe | Public Budget | Coronavirus
    ZEW Economist Professor Dr. Friedrich Heinemann on the debt of the EU.

    The German Federal Audit Office has published a special report on the consequences of joint EU borrowing in the context of the European coronavirus recovery package. In this report, which is based on calculations conducted by ZEW Mannheim in October 2020 for an expert hearing at the German Bundestag, the Federal Audit Office has confirmed the figures and findings of the ZEW study. The new own resources decision will provide the EU with a guaranteed volume of at least four billion euros, which far exceeds the repayment obligations for the recovery plan. This creates incentives to expand joint European borrowing to finance other purposes, even if this borrowing is, for now, legally limited to the scope of financing the recovery plan. Under the new own resources decision, all EU states will be jointly liable for EU debt until 2058, which, according to the German Federal Audit Office, undermines the principle of national ownership. Professor Friedrich Heinemann, author of the ZEW study on the EU own resource decision and the liability implications for Germany’s federal budget, comments on this matter:

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  3. 09.03.2021 · ZEW (ssi/deg)
    Comment
    Professor Sebastian Siegloch in a commentary on the minimum wage increase.

    The Federal Ministry of Finance and the Federal Ministry for Labour and Social Affairs have released a white paper which should lay the foundation for an increase in the minimum wage. Professor Sebastian Siegloch, head of ZEW’s Research Department “Social Policy and Redistribution”, comments on this matter.

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  4. 08.03.2021 · ZEW (tbk/sel)
    Research
    Stock Market
    This inequality could be addressed by investing in financial literacy and trust.

    Women are less involved in the stock market and other financial activities concerning wealth accumulation compared to their male counterparts. This is not only attributable to actual gaps in women’s financial literacy, but also to a lack of self-confidence. Women frequently underrate their actual financial knowledge. These are the findings of a study conducted by ZEW Mannheim in cooperation with the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business, the University of Groningen, and the Dutch central bank, De Nederlandsche Bank (DNB).

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  5. 05.03.2021 · ZEW (vme/lra/sel)
    Research
    Women | Corporate value | Board of directors
    The study analyzes the effect of the women's quota in comparison to countries with legally binding percentages.

    Women on the board of companies have a positive impact on their value. Crucially, the quota for women in corporate management – also known as a boardroom quota – primarily results in the scaling down of inefficient corporate processes. These are the findings of a study conducted by ZEW Mannheim and the New Economic School in Moscow. The study examined both the corporate board structure and the characteristics of its board members in seven European countries with regulations concerning this quota, which range from light to rigorous. A further step was to investigate the effects of the quota on firms’ value and operations, using financial data on the years before the quota was announced and after the compliance date had passed.

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  6. 04.03.2021 · ZEW (awh/ggr/sel)
    Comment
    Competition law | ZEW President
    Prof. Achim Wambach discusses current antitrust law with other experts at the 20th International Antitrust Conference.

    At the invitation of the German Federal Cartel Office, leaders and competition experts from various countries are discussing current issues of cartel law at the 20th International Conference on Competition today alongside Federal Minister of Economic Affairs and Energy Peter Altmaier and EU Competition Commissioner Margrethe Vestager. One of the focal points of this year’s event will be a panel discussion with Professor Achim Wambach, president of ZEW Mannheim and member of the Monopolies Commission, on public welfare goals as a challenge for antitrust practice. Wambach comments on this matter:

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  7. 04.03.2021 · ZEW (awh)
    Comment
    Insolvency | Coronavirus | Leibniz Association
    Professor Achim Wambach is optimistic about the economic outlook for Germany. He also sees positive signals from the global economy.

    The economic consequences of the pandemic will be felt in Germany and around the world for some time to come. Together with the presidents of the six German economic research institutes of the Leibniz Association, the president of ZEW Mannheim, Professor Achim Wambach, today discussed “The Economic Consequences of the Pandemic” at the annual Leibniz Economic Summit:

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  8. 02.03.2021 · ZEW (msc/sel)
    China Economic Panel
    Greater China | Short-term forecast | Cyclical indicator
    The CEP indicator rose by 9.1 points in the February survey and currently stands at 64.0 points.

    In the February 2021 survey (16–24 February 2021), the CEP indicator increased by 9.1 points to a new value of 64.0 points, its highest value to date since the survey began in mid-2013. The CEP indicator, based on the China Economic Panel (CEP) and conducted by ZEW Mannheim in cooperation with Fudan University, Shanghai, reflects the economic expectations of international financial market experts for China on a 12-month basis.

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  9. 26.02.2021 · ZEW (gli/jdo/scw/sel)
    Research
    Company insolvency
    Chairs stacked on each other on wall of a restaurant.

    In response to the first COVID-19-related lockdown, particularly small and medium-sized enterprises in Germany received easy access to extensive state aid in order to strengthen the liquidity position of cash-strapped firms. For the most part, this was done in a ‘whatever-it-takes’ fashion to rescue as many firms as possible from insolvency. Clearly, it has been necessary to support healthy companies whose financial difficulties have been the result of the pandemic and the associated measures. However, struggling companies whose existence would have been under threat even without the lockdown also received financial aid. Due to the urgency of the measures, they were implemented in an untargeted manner, which – in addition to generating direct costs in the billions – could also have negative consequences for medium-term growth opportunities and productivity development in Germany. As a recent study by ZEW Mannheim shows, the untargeted financial support has contributed to a backlog of corporate insolvencies. In particular, very small, financially weak companies, which under normal economic circumstances would have been highly likely to file for insolvency, were kept alive without the prospect of successful recovery.

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  10. 24.02.2021 · ZEW (fhe)
    Comment
    Coronavirus | Germany | Public Budget

    According to preliminary calculations by the German Federal Statistical Office (Destatis), the coronavirus crisis in 2020 resulted in the government deficit totalling 139.6 billion euros. Professor Friedrich Heinemann, head of ZEW’s Research Department “Corporate Taxation and Public Finance”, comments on this issue:

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