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CESifo Group Munich

The CESifo Group, consisting of the Center for Economic Studies (CES), the Ifo Institute and the CESifo GmbH (Munich Society for the Promotion of Economic Research) is a research group unique in Europe in the area of economic research. read on CESifo Group Munich

  1. News
  2. Survey results
  3. Upcoming events
  4. New Publications
  1. Credit Constraints Rise Slightly, But Financing Opportunities Remain Excellent for German Companies

    teaserImage Many firms still have no problems accessing bank credit, but credit constraints for German trade and industry rose to 18.3 percent in November from 17.7 percent last month. The ECB’s October bank stress test currently appears to be having no impact on bank lending in Germany. Details

  2. Private Investors for State Projects: Shadow Budgets or a Necessity?

    teaserImage Does the private financing of infrastructure projects lead to greater profitability, or is it merely a way of getting around the debt cap? This question is discussed in the ifo Schnelldienst 22/2014 by Alfons Weichenrieder, University of Frankfurt, and Markus Kerber, Confederation of German Industry. Details

  3. Decline in the Ifo Business Climate Index for Eastern Germany Grinds to Halt for Now

    teaserImage The Ifo Business Climate for Eastern German trade and industry improved slightly, after deteriorating for four consecutive months. Eastern German companies are more satisfied with their current business situation than last month. However, unfavourable business expectations worsened for the months ahead. November offers at least temporary respite for Eastern Germany’s flagging economy. Details

  4. Rays of Hope For German Exports

    teaserImage German manufacturing is hoping for an uptick in export business. The Ifo Export Expectations rose to 6.3 balance points in November from 4.7 points in October. The falling euro exchange rate seems to be boosting exports in several branches and to many countries. Details

  5. 8th Workshop on Political Economy

    teaserImage The 8th workshop on Political Economy will take place on 29 to 30 November 2014 at the Dresden branch of the Ifo Institute, Einsteinstraße 3, Dresden. The workshop will be jointly organised by CESifo, the Center of Public Economics at TU Dresden and the Ifo Institute, Dresden branch. The keynote speakers will be Professor Ekaterina Zhuravskaya, Paris School of Economics, and Professor Roland Vaubel, University of Mannheim. Professor Christian Lessmann (TU Braunschweig) and Dr. Gunther Markwardt (TU Dresden) are responsible for the academic preparation of the workshop. Details

  1. Credit Constraint Indicator - From the Ifo Business Survey for November 2014

    Credit Constraints Rise Slightly, But Financing Opportunities Remain Excellent for German Companies

    Nov 28, 2014: Many firms still have no problems accessing bank credit, but credit constraints for German trade and industry rose to 18.3 percent in November from 17.7 percent last month. The ECB’s October bank stress test currently appears to be having no impact on bank lending in Germany. Details

  2. Results of the Ifo Business Survey for November 2014

    Decline in the Ifo Business Climate Index for Eastern Germany Grinds to Halt for Now

    Nov 27, 2014: The Ifo Business Climate for Eastern German trade and industry improved slightly, after deteriorating for four consecutive months. Eastern German companies are more satisfied with their current business situation than last month. However, unfavourable business expectations worsened for the months ahead. November offers at least temporary respite for Eastern Germany’s flagging economy. Details

  3. Ifo Employment Barometer - Results of the Ifo Business Survey for November 2014

    Firms Far More Reticent About Recruiting

    Nov 26, 2014: Only isolated German companies plan to recruit more staff. The Ifo Employment Barometer fell to 105.4 index points in November, after 106.9 points in October. For the moment there is only a slightly positive employment dynamic. Details

  4. Results of the November 2014 Ifo Business Survey

    Ifo Business Climate Index Rises

    Nov 24, 2014: The Ifo Business Climate Index for industry and trade in Germany rose in November to 104.7 points from 103.2 points in October. The business climate previously deteriorated six times in a row. Assessments of the current business situation are slightly more favourable than last month. Expectations with regard to the months ahead are also brighter. The downturn in the German economy has ground to a halt for the moment at least. Details

  5. Results of the November 2014 Ifo Business Survey

    German Service Sector: Ifo Business Climate Indicator for Service Sector Falls

    Nov 24, 2014: The Ifo Business Climate Indicator for the German service sector fell in November to 19.3 balance points, from 23.8 points in the previous month. Service providers slightly scaled back their assessments of the current business situation, which nevertheless remained very good. They are also somewhat less optimistic about future business developments. Service providers still plan to recruit additional staff, but their willingness to do so fell to its lowest level in over a year. Details

  6. Results of the Ifo World Economic Survey (WES) of 4th quarter 2014 (13 November 2014)

    Ifo World Economic Climate Clouds Over Heavily

    Nov 13, 2014: The Ifo Index for the world economy fell to 95.0 points from 105.0 points in the previous quarter, reaching its lowest level since the third quarter of 2013. It is now below its long-term average of 95.5 points. Assessments of the current economic situation deteriorated only slightly. Economic expectations, however, were strongly downwardly revised. The upswing in the world economy is suffering a setback. Details

  7. Regional evaluation for Saxony of the Ifo Business Survey in October 2014

    Saxon Economy Comes Under Strong Pressure in Second Half of Year

    Nov 10, 2014: The Ifo Business Climate Index for German trade and industry fell by 1.5 index points in October, reaching its lowest level since December 2012. In line with this development, the climate indicators for the Eastern German Länder and the Free State of Saxony also deteriorated. The recent decline in the business climate index in Saxony was due to less favourable assessments of future business developments by the companies surveyed. Saxon survey participants are more satisfied, by contrast, with their current business situation. The lasting decline in the Ifo Business Climate Index for Saxon trade and industry can nevertheless be seen as a sign that the positive overall economic development in the first six months of 2014 will not be sustained for the rest of the year. Details

  8. Advance results of the Ifo World Economic Survey (WES) of 4th quarter 2014 (13 November 2014)

    Ifo Economic Climate in the Euro Area Continues to Deteriorate

    Nov 6, 2014: The Ifo Index for the economic climate in the euro area fell from 118.9 points to 102.3 points in the fourth quarter, dropping to its lowest level since the third quarter of 2013. It is now below its longterm average. Assessments of both the current economic situation and of the six-month economic outlook deteriorated significantly. High unemployment, weak demand and public sector deficits continue to head the list of the most pressing economic problems. At present, there is no end to the economic weakness in sight. Details

  9. Credit Constraint Indicator - From the Ifo Business Survey for October 2014

    Credit Constraints Fall Slightly, Financial Conditions for the German Economy Remain Favourable

    Oct 31, 2014: German firms can still finance themselves very well with bank credit. The credit constraints for German trade and industry fell to 17.7 percent in October from 18.4 percent in the previous month. The extent to which the ECB’s bank stress tests will influence further developments remains to be seen. Details

  10. Results of the Ifo Business Survey for October 2014

    Ifo Business Climate Index for Eastern Germany Continues To Slide

    Oct 30, 2014: The Ifo Business Climate for Eastern German trade and industry deteriorated considerably once again in October. Eastern German companies are no longer as satisfied with their current business situation as last month. Moreover, pessimism about future business developments continued to grow. After a strong first six months in terms of the business cycle, positive overall economic developments in Eastern Germany are coming under increasing pressure. Details

Generational (Un)Fairness: the Causes, Consequences and Policy Implications of the Demographical Deficit

Generational (Un)Fairness: the Causes, Consequences and Policy Implications of the Demographical Deficit

Public University Lecture by Prof. Hans-Werner Sinn, President of the Ifo Institute.

Monday, 15. December 2014, 6.00 p.m.,
Great Hall of the Ludwig Maximilians University, Geschwister-Scholl-Platz 1, 80539 Munich.

The lecture will be given in German.
read on Generational (Un)Fairness: the Causes, Consequences and Policy Implications of the Demographical Deficit

New Online Course: “Solution and Innovation Skills”

New Online Course: “Solution and Innovation Skills”

The European Union research project “LLLightinEurope”, in which the Ifo Institute is a participating institution, is offering a comprehensive, open online course (MOOC) entitled “Solution and Innovation Skills” in conjunction with the Digital School of Leuphana University of Lüneburg and the Zeppelin University in Friedrichshafen. The course starts on October 8th this year. With this online-course, the partner universities take up the topic of innovation and participants learn how to develop and implement new ideas. The ten-week course is taught in English and is free of charge and open to everyone. Researchers from such institutions as the Harvard Business School, the MIT Media Lab, the Harvard Kennedy School, and the University of Luxembourg have helped to develop the ideas for this course. read on New Online Course: “Solution and Innovation Skills”

Next Events

  1. Does a Clean Development Mechanism Facilitate International Environmental Agreements?

    • 01.12.2014, 11:10 AM - 12:40 PM
    • Lunchtime Seminar TU Dresden
    • Marcel Thum
    • TU Dresden, Sitzungszimmer der Fakultät Wirtschaftswissenschaften, Raum SCH B 037

  2. Are Sticky Prizes Costly? Evidence From The Stock Market

    • 02.12.2014, 05:00 PM - 06:15 PM
    • Hans Möller Seminar
    • Michael Weber, University of Chicago - Booth School of Business
    • International Economics, Ludwigstr. 28/II, Library (room 221)

  3. Are Sticky Prices Costly? Evidence From The Stock Market

    • 02.12.2014, 05:00 PM - 06:15 PM
    • Hans Möller Seminar
    • Michael Weber, University of Chicago
    • International Economics, Ludwigstr. 28/II, Library (room 221)

  4. The Law and Economics of Sovereign Debt and Default, Part I

    • 03.12.2014, 10:15 AM - 11:45 AM
    • CES Lecture
    • Mitu Gulati, Duke University / Lee C. Buchheit, Cleary Gottlieb Steen & Hamilton (N.Y.)
    • Schackstr. 4/II, seminar room (207)

    Short History of Sovereign Financial Crises

  5. The Future of Sovereign Debt Restructuring

    • 03.12.2014, 06:00 PM - 07:30 PM
    • Munich Seminar
    • Professor Mitu Gulati, Faculty of Law, Duke University / Lee Buchheit, Partner, Cleary Gottlieb, New York
    • Ifo Institute, Ludwig-Erhard-Hall, Poschingerstr. 5, 81679 Munich

Just released

  1. Cover Image Sinn, Hans-Werner, The Euro Trap. On Bursting Bubbles, Budgets, and Beliefs, Oxford University Press, Oxford, 2014, 416 , Information | Details

  2. Cover Image Sinn, Hans-Werner, Gefangen im Euro, Redline Verlag, München, 2014, 224 , Information | Details

Journals

  1. Cover Image "ifo Schnelldienst 22/2014", ifo Institut, München, 2014, 03-55 | Details

  2. Cover Image "CESifo World Economic Survey November 2014", Ifo Institute, Munich, 2014 | Details | PDF Download

  3. Cover Image "ifo Schnelldienst 21/2014", ifo Institut, München, 2014, 03-63 | Details

  4. Cover Image "ifo Konjunkturperspektiven 10/2014", ifo Institut, München, 2014 | Details

  5. Cover Image "ifo-GfK-Konsumreport 10/2014", ifo Institut; GfK Marktforschung, München; Nürnberg, 2014 | Details | PDF Download

Working Paper

  1. Cover Image Seiler, Christian, "Mode Preferences in Business Surveys: Evidence from Germany", Ifo Working Paper No. 193, 2014 | Details | PDF Download

  2. Cover Image Kleemann, Michael and Manuel Wiegand, "Are Real Effects of Credit Supply Overestimated? Bias from Firms' Current Situation and Future Expectations", Ifo Working Paper No. 192, 2014 | Details | PDF Download

  3. Cover Image Kauder, Björn, "Spatial Administrative Structure and Intra-Metropolitan Tax Competition", Ifo Working Paper No. 191, 2014 | Details | PDF Download