1. 21.10.2021 · ZEW (der/ybr)
    Research
    Crowdworking | Digitisation | Information Services | Processing industries
    Diagram illustrating current and future use of crowdworking.

    The use of crowdworking platforms by companies in Germany has risen steadily in recent years. “In 2020, 8.3 per cent of companies in the information economy and 6.1 per cent of companies in the manufacturing industry made use of crowdworking,” says Dr. Daniel Erdsiek, a researcher in the “Digital Economy” Department at ZEW Mannheim. “In addition, about one per cent of companies planned to start using crowdworking by the end of 2021.”

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  2. 08.10.2021 · ZEW (csp/lfi/sel)
    Research
    Debt financing | Debt Financing | Equity capital | Economics of Taxation | Tax incentive | Corporate Finance and Investment Policy
    ZEW policy brief on solution strategies around the debt-equity bias.

    The economic crisis following the COVID-19 pandemic has increased the debt levels of corporations and reduced the level of investments. Companies can use both equity and debt capital to finance investments. From a tax perspective, interest payments on debt are generally deductible from the corporate tax base, while costs related to equity are not. This debt-equity bias is a deep-rooted issue in today’s tax system and inhibits equity-financed investments. A recent ZEW policy brief shows that harmonisation at the European level is not suitable for solving the tax-induced distortion. Instead, the researchers recommend addressing the debt-equity  bias on national level, e.g. by implementing a dual income tax.

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  3. 15.09.2021 · ZEW (jab/lra/sel)
    Research
    Renewable Energies | CO2 emission | Electricity market | price of electricity
    Image of renewable energies.

    Electricity from solar or wind power is increasingly substituting electricity from conventional coal and gas-fired power plants in Germany. This reduces both emissions and wholesale prices on the energy market. Both effects benefit not only Germany, but – via the transnational electricity market – also its neighbouring countries. However, the costs of promoting renewable energies are mainly borne by German consumers, as they pay the EEG surcharge levied on them. This is the result of a study by ZEW Mannheim and the Potsdam Institute for Climate Impact Research (PIK) based on generation and wholesale market price data for ten Central European countries between 2015 and 2020.

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  4. 13.09.2021 · ZEW (hsh/deg)
    Research
    Schools | Pupils | School | Analysis of Education | Educational opportunities | Equal Opportunities | Social inequality

    In Germany, low-income households need more time on average to get to nursery, primary and secondary schools. Although the time difference to more affluent households is usually only a few minutes each way, this means a significant additional time burden over the course of a year.

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  5. 06.09.2021 · ZEW (fhe/deg)
    Research
    ECB | Monetary Policy | Monetary policy decisions
    Main river in front of the ECB-tower

    The continuation of the Eurosystem’s government bond purchases is a controversial issue within the ECB Council. A study by ZEW Mannheim now shows for the first time that the polarisation within the Council corresponds to the public debt level of the individual members’ home countries. In their public statements, national central bank presidents from countries with high government debt tend to support the continuation of the ECB’s current bond purchase programmes. On the other hand, the representatives of low-debt countries are more sceptical and call for an early exit from the programmes.

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  6. 05.09.2021 · ZEW (gli/rha)
    Research
    Mobility | Electromobility | Mergers | Mergers and Acquisitions | M&A | M&A activity
    Picture of the M&A Announcements

    With the start of the IAA Mobility Show, the most important German industrial sector and its problems are once again moving into the spotlight. Climate policy and the consequences of the pandemic pose major challenges for all manufacturers. This is reflected not least in the plans for mergers in this sector.

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  7. 25.08.2021 · ZEW (kki/deg)
    Research
    Map of Eastern Europe: Withdrawal of correspondent banks is indicated by different colours.

    Emerging European countries are less able to participate in global trade since correspondent banks are on the decline. The reason for this decline is that US authorities have tightened financial crime enforcement regulations. The lack of banks offering trade finance services and handling international transactions between exporters and importers makes trade with and for these countries much more difficult. This is shown in a recent study by ZEW Mannheim based on data from 17 Eastern European emerging markets, the so-called Emerging Europe.

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  8. 19.08.2021 · ZEW (sgo/sel)
    Research
    Young firms | Coronavirus | foundation activities
    Chart on the development of the number of foundations

    The pandemic has only slightly slowed down the start-up activity in Germany in 2020. According to a joint study by Creditreform and ZEW Mannheim, almost 165,000 new companies were founded last year. However, the development varied greatly depending on the sector. Regardless of the COVID-19 crisis, the number of companies grew slightly last year to nearly 3.3 million. Once again, more companies were founded than closed. The Mannheim Enterprise Panel (MEP), conducted by ZEW, recorded around 156,000 firm closures, for example due to withdrawal from business or insolvency.

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  9. 16.08.2021 · ZEW (jdo/jki/sel)
    Research
    Coronavirus | Enterprise | Artificial intelligence
    Graphic with results of the ZEW study on AI-based analysis of corporate websites

    With the oil crisis, the bursting of the dot-com bubble, the financial and banking crisis, and the COVID-19 pandemic, the past fifty years have seen several economic shocks that often had severe consequences for the business landscape. Governments are often only able to provide targeted support and respond appropriately to such unexpected events with a significant time lag, as appropriate data is usually not available at the beginning of a crisis. AI-based analysis of corporate websites can remedy this situation by complementing traditional survey methods and providing reliable early forecasts in a timely manner. This is shown by studies conducted by ZEW Mannheim in cooperation with Justus Liebig University Giessen during the coronavirus crisis.

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  10. 13.08.2021 · ZEW (msc/fbr/deg)
    Research
    ECB | ZEW Financial Market Survey | Inflation | CO2 emission | Climate protection | Consumer Price Index
    Image of the European Central Bank

    Financial experts are divided over the new strategy of the European Central Bank (ECB). While 49 per cent of those surveyed by ZEW Mannheim say that the change in strategy has prompted them to adjust their medium-term inflation forecast for the years 2021 to 2023 upwards, another 46 per cent say that the new strategy has no influence on their forecast. Five per cent are even inclined to revise their inflation forecast downwards.

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