What is CESifo?
is the international platform of the University of Munich's Center
for Economic Studies and Germany's Ifo Institute for Economic Research
Required reading: CESifo-MIT book on the transparency and credibility
of the European Central Bank's decision-making and its decentralized
Ghandi said some 50 years ago that Britain had gobbled up half the planet's
resources to achieve the prosperity it then enjoyed: he fretted about the
number of planets India would need to reach a comparable prosperity. Nowadays,
highly-developed USA devours oil voraciously and China hungrily wolfs down
staggering amounts of raw materials as it develops. Is there planet enough
for the entire world to attain, say, European levels of affluence? A CESifo
Working paper points the way to ensuring that the needs of planet and people
stop being mutually detrimental.
NOx begets ozone: harmful at ground level
belch nitrogen oxide (NOx) into the atmosphere. NOx, in turn, creates ozone,
which provokes asthma and other ailments. Clearly, NOx emissions must be
curtailed. The best approach so far is the so-called "cap and trade"
system: place a cap on emissions and allow emitters to trade rights to emit.
But the late David Bradford and his colleagues at Princeton University found
some significant flaws in this approach. They released their findings, and
the solutions they propose, in a CESifo Working Paper.
we globalised yet?
take pride in riding the crest of the globalisation wave. Others seek
to erect barriers to keep that wave from reaching their shores. Yet others
are busily throwing life-savers to companies and workers likely to be
drowned in the rising tide. The rest swims in between. But exactly where,
in between? Many prestigious publications release globalisation rankings,
but a new CESifo Working Paper by John Whalley and his colleagues shows
the perils of performing such measurements, and points the way to what
can actually be measured in terms of establishing the distance to full
Goals to be Dissected at Munich Economic Summit
decision-makers from the world of politics and business will get together
with renowned economists and chief editors of major news media at the
fourth Munich Economic Summit, to be held on June 9 and
10 in Bavaria's capital, to perform a critical assessment of the achievements
attained so far towards the goal of establishing Europe as "the world's
most competitive and dynamic economy by 2010".
final approach for a soft landing?
World Economic Climate
for the world economic climate sank for the fifth time in succession but
is still above its long-term average. The most recent survey results continue
to indicate a "soft landing" of the world economy and not an imminent
sharp decline in economic activity. This is also evident in the fact that
the expectations for the next six months —in contrast to the judgements
for the current economic situation— have hardly deteriorated. Apparently
the majority of WES experts expect the present cooling phase in the world
economy to be short term.
Research Network Surpasses 500-Member Milestone
Four Nobel laureates
and scores of other internationally-renowned scholars make up one of Europe's
largest and most comprehensive economics research communities.
(left to right) Darío Maldonado, Hans-Werner Sinn, Frederik van der Ploeg, Mathias Trabandt
Maldonado and Mathias Trabandt were awarded
the CESifo Prize in Public Economics 2005, instituted
to reward young economists, for the scientific originality, policy relevance
and quality of exposition of the papers they presented at the 2005 CESifo
Area Conference on Public Sector Economics. They thus became Distinguished
CESifo Affiliates and joined the growing ranks of young economists in
our Research Network who have been variously honoured in the past few
weeks. Ludger Woessmann, in turn, was included among
the ten most promising German economists under 40 by the economics magazine
Wirtschaftswoche. He was the youngest one to be so honoured.
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