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What is CESifo?
CESifo
is the international platform of the University of Munich's Center
for Economic Studies and Germany's Ifo Institute for Economic Research
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Required reading: The blind alleys of green policies,
by Hans-Werner Sinn.
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Newest at
CESifo
December 5th, 2008
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Olivier Blanchard showing how big
it will all get |
A Crisis Primer
There are lots of red faces around nowadays in the economics and financial realms. Experts and politicians alike failed to see the crisis coming, failed to grasp its capacity for contagion, failed to anticipate its depth and scope. Now one of them candidly admits as much and dissects the unfolding crisis in crisp detail: no less than the IMF chief economist and 2008 Distinguished CES Fellow Olivier Blanchard. In the process, he provides an unmatched primer on the whys and hows of the crisis.
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That great sucking sound |
Escaping the Credit Crunch and Liquitidy Trap
Despite the massive lowering of interest rates by central banks around the world, banks are not issuing new loans. This is the "credit crunch" everyone talks about. And, as monetary policy can neither reduce interest rates much further nor stimulate the issuance of private loans, we are also in a liquidity trap. How can we escape it? Frank Heinemann has a suggestion.
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Ifo Economic Forecast: Read and Weep
The just-released Ifo Economic Forecast paints a grim picture. Germany is in recession, and the world economic climate, as measured by the Ifo World Economic Survey, fell in the fourth quarter of 2008 to its lowest level in more than 20 years.
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New Research Areas
In keeping with the issues that shape our times, the CESifo Economics Research Network has established two new Research Areas: Energy and Climate Economics, co-ordinated by Michael Hoel of the University of Oslo, and Economics of Education, co-ordinated by Eric Hanushek of Stanford University.
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CESifo Distinguished Affiliate Awarded "German Nobel Prize"
CESifo fellow and 2004 CESifo Distinguished Affiliate Armin Falk has been awarded this year's Gottfried-Wilhelm-Leibniz Prize, also known as the German Nobel Prize, for his work in behavioural economics. Forty-year-old Mr Falk, with a PhD from the University of Zurich, is a professor of economics at the University of Bonn. While less well-known than the Nobel Prize, the Leibniz Prize, endowed with 2.5 million euros, is not a bad alternative at all.
Visit Armin Falk's page at the University of Bonn
Crises and Scapegoats
A passing remark by Hans-Werner Sinn about how wrong it is to look for scapegoats in times of crisis caused an uproar in Germany and reactions from many quarters abroad. Read the associated documentation.
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Other Papers of Interest
From gerontocracy to fertility subsidies, employment protection to flexicurity, foreign exchange to the assassination of politicians: the latest CESifo Working Papers contain research findings for nearly every field of interest, from the historical to the most current. As it is not possible to explore each paper in detail in this issue, we provide here a quick overview complete with download links.
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Looking for hard data to support your research?
Visit CESifo's DICE Database for free-of-charge data on country basics, education, labour markets, public finance, social policy, health, business and much more.
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