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September 2016

Featured Paper A Fuestian Bargain Economic Indicators Publications
Ifo News Forthcoming Events People Bulletin Board

Featured Paper
Magdalena Haring, Rainer Niemann, Silke Rünger: Investor Taxation, Firm Heterogeneity and Capital Structure Choice

It is well documented that different tax rates at the corporate and investor levels cause distortions in the choice of the optimal capital structure of a firm. However, very little is known about the interplay of investor level taxes and both the firm-specific payout policy and firm specific ownership structure. In their recent CESifo Working Paper Magdalena Haring, Rainer Niemann and Silke Rünger close this gap. Read how!

Other CESifo Working Papers
Working Paper Submission Form

A Fuestian Bargain
Ifo President Clemens Fuest on Globalisation and Its Impact on Taxation

The globalisation of the economy raises fundamental issues for the financing of government action. Many companies can internationally transfer production sites, jobs and immaterial assets like patents. Can national tax policy still generate sufficient tax revenues in this environment to finance public spending? Does politics still retain control over the distribution of the tax burden between capital and labor, between rich and poor? Read on to see how Clemens Fuest proposes to address these issues.

More from and about Clemens Fuest

Economic Indicators
Ifo Business Climate Improves Markedly

Sentiment in the German economy improved considerably this month. The Ifo Business Climate Index rose to 109.5 points, reaching its highest level since May 2014. Companies are clearly more optimistic about the months ahead. They are also more satisfied with their current business situation. The German economy is expecting a golden autumn.

Other Economic Indicators:
Credit Constraint Indicator
Ifo Investment Survey
Ifo Employment Barometer
Ifo Export Expectations
Ifo Export Climate
Ifo Business Survey Services Sector

Publication of Interest
CESifo Economic Studies

The September issue of CESifo Economic Studies covers a selection of exciting topics like the TARGET2 system, illegal immigration and reciprocity in organisations. Interested? Then check out the full issue online!

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

Ifo News
Christian Traeger Appointed Ifo Research Director

We are delighted to announce the appointment of Christian Traeger, an environmental economist and decision theorist, as a research director. Mr Traeger will support the Ifo Center for Energy, Climate and Exhaustible Resources in its research and in promoting junior economists.

Other Ifo Topics
Joint Economic Forecast Autumn 2016

Forthcoming Events
Munich Lectures in Economics

The recently announced Nobel prize winner Bengt Robert Holmstrom will be this year’s Distinguished CES Fellow. The award will be presented on 15 November 2016 at the Grosse Aula of LMU Munich. After the award the laureate will give the Munich Lectures in Economics on "Money Markets and Financial Intermediation" sharing the results of his latest economic research with a broad audience.

Check out also
Forthcoming Academic Conferences

Dates to remember
Submissin Deadline Conference Title
19 Dec 2016 Venice Summer Institute 2017
People
Guests and Locals

CES, Ifo and CESifo are hosting guest researchers from Israel, Germany, Norway, Russia, the UK and the USA in October 2016. Learn a bit about what they are working on, and about who they are:

Friedrich Breyer, University of Konstanz, will be visiting CES from 30 October to 18 November 2016
Nigar Hashimzade, Durham University, will be visiting CES from 03 October to 03 December 2016.
Lars Hornuf, University of Trier, will be visiting CES from 04 October to 21 October 2016.
Terrence Iverson, Colorado State University, will be visiting CESifo from 04 October to 28 October 2016.
Sergey G. Kokovin, Novosibirsk State University, will be visiting CESifo from 04 October to 13 October 2016.
Sebastian Krautheim, University of Passau, will be visiting CESifo from 31 October to 05 November 2016.
Eytan Sheshinski, The Hebrew University (Emeritus), will be visiting CES from 05 October to 01 November 2016.
Christian P. Traeger, University of Oslo, will be visiting CESifo from 13 October to 21 October 2016.
Basit Zafar, Federal Reserve Bank of New York, will be visiting CES from 02 October to 11 October 2016.


Jasmin Gröschl new CESifo Programme Director

Jasmin Gröschl was appointed the new Programme Director of CESifo in September. She replaced Rahel Aichele who will be on leave over the next few months. Her main tasks cover the academic coordination of the CESifo conferences, including the Venice Summer Institute, as well as supporting MIT book publications. She can be contacted via email.


Bulletin Board
News and things of interest to CESifo Network members

To promote outstanding research in the economics of education and to provide it with public visibility, the Committee for the Economics of Education of the German Economic Association (Verein für Socialpolitik) awards a biannual prize of 2,000 euros for the best dissertation in the area of the economics of education. For more information about your eligibility, check out the official announcement!

For new postings on the Bulletin Board, please contact Yvonne Maldener.


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