1. 30.09.2021 · 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 September 2021. According to the calculations, the inflation rate measured by the German consumer price index has risen from 3.9 per cent to 4.1 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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  2. 22.09.2021 · ZEW (fhe)
    Comment
    Monetary policy decisions | Interest Rate | United States | Central bank
    ZEW economist Friedrich Heinemann comments on the Fed's decision to leave its key interest rates unchanged.

    The US Federal Reserve has decided to keep its benchmark rate unchanged in a range of 0.0 and 0.25 per cent. However, it has announced that there could soon be a slowdown in asset purchases. Professor Friedrich Heinemann, head of the ZEW Research Department “Corporate Taxation and Public Finance” at ZEW Mannheim, explains:

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  3. 10.09.2021 · ZEW (fhe)
    Comment
    ECB | Monetary policy decisions | Monetary target | Securities Markets | Eurozone
    ZEW economist Professor Dr. Friedrich Heinemann in a commentary on the latest decisions and changes of the ECB.

    The ECB Governing Council doesn’t plan on ending bond purchases soon. However, compared to previous announcements, the PEPP crisis programme will slightly reduce the volume of bond purchases. Professor Friedrich Heinemann, head of the Research Department “Corporate Taxation and Public Finance” at ZEW Mannheim, explains:

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  4. 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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  5. 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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  6. 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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  7. 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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  8. 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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  9. 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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  10. 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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