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  Newsletter May 2015
Featured Paper From the Editor Economic Indicators
The Original 
Publications of Interest
The Chart Forthcoming Event People Ifo News Bulletin Board
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  Featured Publication
Illustration by Julio Saavedra

Close at your peril

Have Skills, Will Travel

While the plight of the boat people drowning before Europe's Mediterranean coast grabs the headlines, a different kind of migration is equally pressing in EU policymakers' minds: that of the highly skilled workers essential for it to sustain its prosperity in years to come. The locals fret that the newcomers will steal their jobs and that the net effect will be zero. How much do immigrants really contribute to per capita GDP growth? A new CESifo Working Paper has the figures.

Other CESifo Working Papers
Working Paper Submission Form

  The Original Sinn

Brotherly love

A Parallel Currency for Greece

Over the past five years, Greece has received 325 billion euros in public rescue credit, equivalent to more than 1.8 times its GDP. And yet unemployment has more than doubled and its economy is still in the doldrums. It is time for Greece to reintroduce the drachma and use the euro as a parallel currency, as it would ease the path to restoring its competitiveness, argues Hans-Werner Sinn.

More from and about Hans-Werner Sinn:
Stop the splinter unions

   Economic Indicators

The seatbelt sign has been turned off

German Economy at Cruising Altitude

The Ifo Business Climate Index has stabilised at a high level, adjusting downwards only 0.1 points in May to 108.5 points. While companies expressed higher satisfaction with their current business situation, they were slightly less optimistic about the months ahead.

Other Economic Indicators:
Ifo World Economic Climate Continues to Brighten
Ifo Economic Climate in the Euro Area Improves Significantly

   From the Editor

That one looks like a contradiction

Lazy Summer Days

A lot of crazy notions chase each other in one's head while lying on the grass, studying the clouds. From Google through Airbus to hidden champions, from Putin's model behaviour to Greece's dream solution. Pity that summer is so fickle here in Germany. Otherwise there would be more opportunity for random musings.

  The Chart

Climbing the ladder

The Real Capital

What do countries like Switzerland and Singapore have in common? Quite a lot, actually. They both have tiny domestic markets, lack natural resources, and have cultivated the one resource that can grow with time and, even if deployed in abundance, never becomes depleted: their people. Good education will improve what, in effect, is the real capital of nations, as a new OECD report led by Eric Hanushek and Ludger Woessmann makes clear. A new interactive DICE chart gives deeper insights into the link between education and economic performance. Check it out.

   Publications of Interest

Spring 2015 Issue

CESifo Forum

The Spring 2015 issue of CESifo Forum examines the disputes about Piketty's r > g hypothesis, financial stability vis-à-vis monetary policy, the dynamics of oil price shocks, and understanding global crises, amongst other topics.

Other Publications of Interest:
CESifo Economic Studies
CESifo DICE Report
CESifo World Economic Survey
CESifo Working Papers

  Forthcoming Events

66th yearly meeting

Ifo Annual Meeting

This year's Ifo Annual Meeting, to be held on June 12, will feature German Vice-Chancellor and Minister for Economics Sigmar Gabriel, who will discuss economic policy since German reunification with economic historian Harold James of Princeton, former Minister-President Georg Milbradt, former Chairman of the German Economic Council of Experts on Economic Development Wolfgang Wiegard, and Hans-Werner Sinn, who will preside the event for the last time.

Check out also:
Forthcoming Academic Conferences
Munich Seminar, 15 June, Anni Podimata
Leibniz Debate between H.-W. Sinn and Richard D. Precht


Faces of the Month

Guests and Locals

The CESifo Group is hosting a number of scholars during June. See what they are working on and get to know their research focus and other aspects of interest.

   Ifo News

Off to Berlin

Expert Commission of the German Government’s Second Report on Equality

Helmut Rainer, Director of the Ifo Centre for Labour Market Research and Family Economics, has been appointed a member of the Expert Commission of the German government’s Second Report on Equality, tasked with identifying which policy measures promote greater equality between men and women.

Other Ifo News:
Symposium to Commemorate the 100th Birthday of Hans Möller
Local Transport Strikes Cost Commuters 4.8 Million Euros Per Day

  Bulletin Board


News and things of interest to CESifo Network members

Two things on offer this month: a doctoral student colloquium in Nottingham and an experimental labour and personnel economics in Trier, Germany. Check them out in the Bulletin Board. For new postings, please contact Yvonne Maldener.

© 2015 CESifo GmbH | Poschingerstr. 5, 81679 Munich, Germany

All texts are the responsibility of the editor and do not necessarily represent the opinion of Ifo, CES or CESifo, or of the researchers mentioned
Published by CESifo GmbH, Poschingerstraße 5, 81679 Munich, Germany
Tel.: +49 (89) 9224-1425, Fax: +49 (89) 9224-1409
Editor: Julio C. Saavedra
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