1. ZEW-Finanzmarktreport // 2025

    Dezember 2025

    • Verbesserung der Erwartungen zum Jahresende
    • Eurozone: Konjunkturerwartungen steigen trotz schwacher Lage
    • USA: Optimistischere Erwartungen trotz angespannter Geldpolitik
    • China: Verschiebung der Zinserwartungen bei…
  2. ZEW Monthly // 2025

    12/2025 – Highlights aus 2025

    Ein ereignisreiches Jahr 2025 neigt sich dem Ende zu – ein Jahr, das die wirtschaftspolitische Landschaft Europas und darüber hinaus in Bewegung gehalten hat wie kaum eines zuvor. Die politischen Verschiebungen…

  3. #ZEWPodcast // 2025

    „Zollpolitik ist keine gute Wirtschaftspolitik“

    In der ersten Ausgabe von Wirklich Wirtschaft blickt ZEW-Präsident Prof. Achim Wambach, PhD auf das Jahr 2025 zurück und bewertet die aktuelle Lage. Er geht auf die turbulenten Debatten rund um Trumps…

  4. ZEW Discussion Paper Nr. 25-071 // 2025

    Using AI Persuasion to Reduce Political Polarization

    Rising political polarization generates significant negative externalities for democratic institutions and economic stability, yet scalable interventions to reduce polarization remain scarce. In this paper, I…

  5. ZEW Discussion Paper Nr. 25-070 // 2025

    Inference for Batched Adaptive Experiments

    The advantages of adaptive experiments have led to their rapid adoption in economics, other fields, as well as among practitioners. However, adaptive experiments pose challenges for causal inference. This note…

  6. ZEW Discussion Paper Nr. 25-068 // 2025

    VAT Collection Only at the Retail Stage: Evidence on Tax Compliance

    We investigate whether firms engage in VAT evasion at the retail stage—typically a point of weakness in VAT systems—in a high-enforcement, low-informality setting. To measure evasion, we exploit a reform of VAT…

  7. ZEW Discussion Paper Nr. 25-069 // 2025

    To Release or Not to Release? Preferences for Home Equity Products in Retirement

    How do retirees choose among home equity release products? Despite housing wealth being households’ largest asset, little is known about preferences for different equity release products. We conduct a survey…

  8. Referierte Fachzeitschrift // 2025

    Continuing opportunity recognition in young ventures—the role of founder and joiner experience

    We analyze the continuing role of prior technical experience of top-management team (TMT) members for opportunity recognition beyond the initial market entry choice in young ventures. We are drawing on and…

  9. Referierte Fachzeitschrift // 2025

    Open Innovation Deficiency: Evidence on Project Abandonment and Delay

    The concept of Open Innovation (OI) has breathed new life into both empirical research and industry practice concerned with distributed and collaborative modes of innovating. While much of the empirical…