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This is the last issue of this newsletter by the editor who brought it to life more than 12 years ago. If you have enjoyed it — if you have clicked through it now and then — I'd love to hear from you before I head for new pastures. A short farewell is below.
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| Featured Paper |
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Harder than it appears |
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Minimum Wage, Maximum Rage
It is difficult to find fault with the idea of minimum wages: even the lowest-paid job ought to provide you with a decent enough salary to at least not fall below the poverty line. The problem is, other people lose their jobs as a result. And that is not all, as a new CESifo paper by Thomas Moutos and George Economides explains.
Other CESifo Working Papers
Working Paper Submission Form
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| A Fuestian Bargain |
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No more "it's-not-my-fault" |
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Strengthening Eurozone Fiscal Governance
Now that the euro crisis has receded a bit from hearts and minds, the zeal for reform is abating. The fiscal imbalances, however, are still there. But there is a way to reignite this zeal and, at the same time, foster fiscal prudence: an out-of-the-box proposal by Clemens Fuest.
More from and about Clemens Fuest
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| Economic Indicators |
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| From the Editor |
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That was him |
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A Farewell
Fifteen years is nothing, twelve even less. But the one is quite long enough for new opportunities to beacon, the other for a child to grow and be let go. Your editor is heading for fresh pastures — sand, actually, and rather warm — and his child, this newsletter, is heading for a metamorphosis. A review of a heady bunch of years.
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| Forthcoming Event |
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This is multiethnic too |
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Munich Economic Summit: Migration Challenges and Opportunities
The largest migration wave in the post-war period has strained relations in the EU and put the Union in a quandary, trying to find a balance between its humanitarian commitments and its economic and social realities: the EU needs immigrants, its citizens do not want them. This year's Munich Economic Summit will attempt to shed light on how this current state of affairs can be turned into a win-win situation for both the newcomers and Europe’s ageing societies — and for the countries the migrants leave behind.
Check out also:
Other Forthcoming Academic Conferences
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| The Chart |
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In the land of the rich |
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Stubborn poverty rates
For all the EU's hallowed prosperity, too many of its people still fall below the poverty line, with a rate close to or above fifty percent in many countries. Thank God these are redistributive societies: the existing social transfers do lift most above the line. But the levels are still worrying. Check out how the ratios before social transfers have evolved in the past twenty years.
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| Publications of Interest |
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| Ifo News |
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Brexit: Don't Try It
An overwhelming majority of German economists finds it a bad idea if the UK were to leave the European Union, as the latest Economists Panel survey by the Ifo Institute, conducted together with the Frankfurter Allgemeine Zeitung, has shown. No less than 85 percent of the respondents are against it, and barely 10 percent are in favour. This result fits surprisingly well with the opinion voiced by the experts in the World Economic Survey in April, when more than 700 experts from 113 countries were polled on Brexit: 86.6 percent of the respondents were against it.
Other Ifo News:
165 Violations of the EU Deficit Criterion
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| People |
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New directors |
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Changes in CESifo Network
John Whalley, University of Western Ontario, and Paul de Grauwe, Emeritus at the Catholic University of Louvain and now at the London School of Economics, have handed over their respective research areas to new hands, after building them up to the gatherings of choice they have become, on Global Economy the one and Macro, Money and International Finance the other. The new directors will be Peter Egger, a luminary on international trade and factor movements who holds the Innovation and Internationalization chair at the KOF Swiss Economic Institute, ETH Zurich, and who has co-directed the area for several years; and Markus Brunnermeier, a German scholar at Princeton who will strengthen top-research bridges across the Atlantic. And as always, CESifo Group is hosting a number of scholars this month. See what they are working on and get to know their research focus and other aspects of interest.
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| Bulletin Board |
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© 2016 CESifo GmbH | Poschingerstr. 5, 81679 Munich, Germany
www.cesifo.org
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 |
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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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