The Congestion Relief Benefit of Public Transit: Evidence from Rome
In a recent CESifo Working Paper, Martin W. Adler, Federica Liberini, Antonio Russo, and Jos N. van Ommeren analyze traffic in Rome, Italy based on new data. They find out how travel time can be reduced for both private and public transport users. A summary and the full version of this interesting working paper are available on our website.
Other CESifo Working Papers
Working Paper Submission Form
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EU-Wide Minimum Wage Is no Recipe for Prosperity Differences
In Europe, there are increasing calls for an EU-wide minimum wage. “There are undoubtedly many policy areas in which joint action at the European level is desirable; minimum wage policy is not one of them,” explains ifo President Clemens Fuest in his latest ifo viewpoint.
More about Clemens Fuest
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 In Systemic Competition with China
China’s success with state capitalism poses security concerns and huge economic challenges for Western market economies. Its economy has boomed over the past 20 years, with private industry contributing much to the recent success. And while private industry has helped the rise of China, this is only one part of the economy. State enterprises and state-controlled firms play a dominant role; the former accounts for 35 percent of China’s GDP. Amid uncertainty over how the trade-off between private corporate dynamics and government management of firms will develop, Achim Wambach says Europe needs to work with China to create fair competition and avoid unilateral protectionism.
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The Long-Term Climate Strategy of the European Union – a Reality Check
To prevent the average global temperature rising by more than 1.5° Celsius, we need to reduce global net greenhouse gas (GHG) emissions to zero by 2050. The EU’s current target is a reduction of emissions by 80–95 percent by 2050. However, the EU itself estimates that it will only achieve about 60 percent with a continuation of current policies. In 2017, GHG emissions rose after falling by almost 23 percent between 1990 and 2016. Prof. Dr. Karen Pittel examines the evidence and proposes a framework for action.
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(Un)Intended Effects of Preferential Tax Regimes: The Case of European Patent Boxes
The development and diffusion of new technologies scores high on the policy agenda of the European Union (EU) as well as its member states. The EU is seeking to limit the technological gap compared with other major economies. This manifests in the rapid growth of the digital economy that has evoked an intensified interest on the part of the EU and its member countries not only to foster technological innovations, but also to compete for innovative, internationally mobile firms.
More information about EconPol Europe
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ifo Education Survey: Germans Support Measures to Combat Educational Inequality
Germans support the introduction of measures to reduce inequality in education. This is the result of the latest ifo Education Survey, which polled 4,000 German citizens. One measure that enjoys particularly strong support of 83 percent was a proposal to expand scholarship programs for low-income students.
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ifo Economic Forecast Autumn 2019: German Economy at Risk of Recession
Economic growth this year is likely to amount to 0.5 percent over the previous year – a considerably lower rate than in the past years of the upturn. The economy is likely to gradually return to normal next year, with growth recovering to 1.2 percent (adjusted for calendar effects 0.8 percent).
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ifo Business Climate Index Falls (August 2019)
German CEOs’ worry lines are getting deeper. The ifo Business Climate Index fell in August from 95.8 (revised value due to seasonal adjustment) to 94.3 points. This is its lowest level since November 2012. Companies were once again much less satisfied with their current business situation. Pessimism regarding the coming months also increased. There are ever more indications of a recession in Germany.
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ifo World Economic Survey August 2019: Measuring Experts’ Macroeconomic Models
The ifo World Economic Climate has clouded over. Both the assessment of the current situation and expectations dropped significantly. The intensification of the trade conflict is having a considerable detrimental effect on the world economy. The economic climate deteriorated in all regions.
Other Economic Indicators:
ifo Employment Barometer
ifo Export Expectations
ifo World Economic Survey
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CESifo Working Paper: Hard Brexit Would Hit Ireland Hardest
A hard Brexit would hit the Irish economy hardest. According to figures from the ifo Institute, prosperity levels would fall by 8.16 percent in Ireland, by 5.23 percent in Luxembourg, and by 5.19 percent in Malta in the event of a hard Brexit. In the United Kingdom itself, prosperity would fall by 2.76 percent.
Other Publications of Interest:
CESifo Working Papers
CESifo Forum
CESifo Economic Studies
ifo DICE Report
 EconPol Publications
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The Passing of Agnar Sandmo (1938–2019)
It is my sad duty to inform you that our friend and colleague Agnar Sandmo passed away on August 30, 2019, aged 81.
Agnar was a founding member of the Center for Economic Studies (CES) Council and the CESifo network. He was also a member of the Scientific Advisory Council of the ifo Institute and CESifo, as well as a long-standing member of the International Institute of Public Finance (IIPF). We are deeply indebted to him for everything he contributed to us.
Please find an obituary written by Hans-Werner Sinn on the CES webpage.
Clemens Fuest
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Guests
Every month, CESifo hosts guest researchers from different parts of the world. Learn a bit more about what they are working on and about who they are:
Corbett A. Grainger, University of Wisconsin - Madison, is visiting CESifo 8 September to 14 September 2019.
Mårten Palme, Stockholm University, will be visiting CESifo 17 September to 4 October 2019.
Samantha B. Rawlings, University of Reading, will be visiting CESifo 7 October to 12 October 2019.
Cees A. Withagen, VU University Amsterdam, will be visiting CESifo 14 October to 19 October 2019.
Bastian Schulz, Aarhus University, will be visiting CES 14 October to 25 October 2019.
Luca David Opromolla, Banco de Portugal, will be visiting CES 15 October to 29 October 2019.
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The Bulletin Board is a place where members of the CESifo network can post news and messages that are of interest to the research community and to all CESifo Newsletter readers. If you have anything you’d like to share, please feel free to contact us at services@cesifo.de.
Call for Papers: Trans-Atlantic Public Economics Seminar – Firms, Taxes, and Public Policies
To provide new insights on interaction of firm decisions and responses to taxes and
regulations, the Labor Institute for Economic Research (LIER) and the National Bureau of Economic Research (NBER), with additional support from the Yrjö Jahnsson Foundation and Palkansaajasäätiö, will organize a Transatlantic Public Economics Seminar on June 2–4, 2020 in Helsinki, Finland.
Papers will be selected on the basis of abstracts of about 750 words or, where possible, completed papers. The deadline for submission is December 1, 2019. Authors chosen to present papers will be notified by December 31, 2019.
You can find more information on their website.
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Invitation: 2019 Fiscal Policy Seminar
The Federal Ministry of Finance will be hosting its second Fiscal Policy Seminar on October 7–8, 2019. The conference will offer participants a unique chance to engage in fruitful research and policy debates with academics and practitioners alike. This year, the theme is “Analyzing developments in savings, investments, and interest rates – reassessing the role of fiscal policies for growth and stabilization.” We welcome registrations from people with an academic background and an interest in fiscal policy.
You can find more information on their website.
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