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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. Professor Tim Lohse visits CES as Guest Researcher

    teaserImage Tim Lohse, Professor for Applied Microeconomics at the Department of Business and Economics at the Berlin School of Economics and Law (BSEL), will visit the Center for Economic Studies (CES) from 20 to 31 October 2014. His research focuses on tax theory and behavioural aspects of it. Details

  2. Public-Private Partnerships

    teaserImage The various aspects of Public-Private Partnerships are discussed in the CESifo DICE Report 3/2014 by Eduardo Engel, University of Chile and Yale University, Ronald Fischer, University of Chile, and Alexander Galetovic, Universidad de los Andes, Antonio Estache, ECARES and Université Libre de Bruxelles, and Stéphane Saussier, Sorbonne Business School, Elisabetta Iossa, University of Tor Vergata, and David Martimort, Paris School of Economics, Aidan R. Vining, Simon Fraser University, and Anthony E. Boardman, University of British Columbia, as well as Holger Mühlenkamp, German University of Administrative Sciences Speyer. Details

  3. High Boni – high Risk

    teaserImage High incentive payments are one possible cause of the risk-taking by banks exposed by the latest financial market crisis. Scientific discussion of this relationship to date, however, has been largely limited to the board level of banks. In CESifo Working Paper No. 4984, Matthias Efing, Harald Hau, both from the University of Geneva, Patrick Kampkötter, University of Cologne, and Johannes Steinbrecher, Ifo Institute investigate the impact of the structure of incentive pay for staff on bank risk-taking. They show that high incentive payments to staff in the pre-crisis period led to excessive risk-taking in capital markets divisions. Details

  4. ifo Schnelldienst 20/2014: Autumn Forecast

    teaserImage The Joint Economic Forecast Project Group presented its report on the state of the world economy and the German economy in autumn 2014 on 9 October 2014 in Berlin. According to the group, the German economy has cooled down. Gross domestic product is forecast to increase by 1.3% this year. The report is now available in ifo Schnelldienst 20/2004. Details

  5. The Highly Fragmented Nature of the Eastern German Economy – From a Dynamic Point of View

    teaserImage Less than 1% of newly-founded companies in Eastern German manufacturing in the period of 1995 to 1998 exceeded the threshold of 100 employees subject to social insurance contributions by their tenth year of existence. This, however, was not due to growth constraints specific to Eastern Germany, but to weak growth on the part of newly-founded companies overall. Moreover, the companies surveyed in Eastern Germany were less likely to survive than their counterparts in Western Germany. These are the results of a recent evaluation by the Dresden branch of the Ifo Institute using a historical firm data panel. Details

  1. Regional evaluation for Saxony of the Ifo Business Survey in September 2014

    Economic Development in Free State of Saxony Cools Down Slowly

    Oct 10, 2014: The Ifo Business Climate Index for German trade and industry fell to 104.7 points in September from 106.3 points in the previous month. The climate indicators for Eastern Germany, as well as for the free state of Saxony, also clouded over markedly. Saxon survey participants are far less optimistic about their six-month business outlook, but assess their current business situation as marginally better than last month. Lasting geopolitical tensions are increasingly undermining the positive underlying trend in the economy. Details

  2. Ifo Export Climate for August 2014

    Ifo Export Climate Deteriorates Significantly

    Oct 1, 2014: The Ifo Export Climate declined to 0.11 index points in August from 0.34 index points in July. The sharp decrease was due to waning corporate and consumer confidence abroad. Price competitiveness improved, thus curbing the deterioration in the export climate. Details

  3. Credit Constraint Indicator - From the Ifo Business Survey for September 2014

    Credit Constraints Increase Slightly, But Financing Conditions for German Companies Remain Very Favourable

    Sep 30, 2014: German companies continue to enjoy very good access to bank loans. Credit constraints for German industry and trade rose slightly to 18.4 percent from 17.9 percent. Financing conditions for German firms remain excellent. Details

  4. Results of the Ifo Business Survey for September 2014

    Ifo Business Climate for Eastern Germany Continues to Cloud Over

    Sep 29, 2014: The Ifo Business Climate Index for Eastern German trade and industry fell for the third consecutive month in September to just 107.3 points. While assessments of the current business situation in Eastern Germany remained almost unchanged compared to August, survey participants are clearly less optimistic about future business developments over the next six months. Geopolitical tensions are increasingly weakening the impetus of the Eastern German economy. Details

  5. Ifo Employment Barometer - Results of the Ifo Business Survey for September 2014

    German Companies Are Slightly More Cautious About Recruiting

    Sep 26, 2014: German firms are slightly less willing to recruit new staff. The Ifo Employment Barometer fell to 106.0 index points in September, after 107.0 points in August. Last month’s slightly positive employment dynamic is nevertheless expected to continue. Details

  6. Results of the Ifo Architects Survey of 3rd quarter 2014

    Ifo Architects Survey: Encouragingly Good Current Business Situation

    Sep 25, 2014: The business climate clouded over slightly at the beginning of the third quarter of 2014, but nevertheless remains very friendly, according to the results of the Ifo Institute’s survey of freelance architects. Details

  7. Results of the September 2014 Ifo Business Survey

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

    Sep 24, 2014: The Ifo Business Climate Indicator for the German service sector continued to decline in September to 18.9 balance points, from 20.1 points in the previous month. Although the current business situation clouded over considerably, it remains at a high level. More service providers are now optimistic about future business developments. Details

  8. Results of the September 2014 Ifo Business Survey

    Ifo Business Climate Index Continues to Fall

    Sep 24, 2014: The Ifo Business Climate Index for industry and trade in Germany fell in September to 104.7 points from 106.3 points in the previous month. The index dropped to its lowest level since April 2013. Assessments of the current business situation were once again less favourable than last month. Expectations with regard to the six-month business outlook fell to their lowest level since December 2012. The German economy is no longer running smoothly. Details

  9. Ifo Manager Survey

    Ifo Manager Survey August 2014

    Sep 22, 2014: The telephone survey, which was introduced already in 1988 as a supplement to the other Ifo surveys, proved to be an important instrument for particular sensitive issues. In addition to the four polls commissioned by Wirtschaftswoche, the Ifo Institute surveyed the participants of more then 1000 manufacturing companies, construction firms, distributors and service providers on other topical issues. The results are published in Wirtschaftswoche and in ifo Schnelldienst. Details

  10. Regional evaluation for Saxony of the Ifo Business Survey in August 2014

    Positive Economic Development in Saxony with Mid-year Damper

    Sep 10, 2014: The Ifo Business Climate Index for industry and trade in Germany fell in August to 106.3 points from 108.0 in the previous month. The business climate index for the eastern German states, and for Saxony in particular, also deteriorated. As in the previous month, the climate indicator for Saxony weakened to a lesser extent in comparison to the results for Germany and eastern Germany. The Saxon companies are no longer as satisfied with their current business as in July. The business outlook, however, has improved – business expectations are clearly more favourable. The positive state of the economy in Saxony is also being dampened as a result of the ongoing international tensions. Details

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”

ifo Branchen-Dialog (Ifo Industry Colloquium) 2014

ifo Branchen-Dialog (Ifo Industry Colloquium) 2014

5th November 2014, IHK Akademie München, Orleansstrasse 10–12.
The Ifo Industry Colloquium is conducted by the Ifo Institute in cooperation with the Chamber of Commerce and Industry for Munich and Upper Bavaria, and with the support of the Bavarian Ministry of Economic Affairs and Media, Energy and Technology. It is held in German. read on ifo Branchen-Dialog (Ifo Industry Colloquium) 2014

Next Events

  1. Dubious versus trustworthy faces – What difference does it make for tax compliance?

    • 27.10.2014, 12:00 PM - 01:00 PM
    • Internal Seminar of the CESifo Group
    • Tim Lohse, Berlin School of Economics and Law
    • CES, Schackstr. 4/II, seminar room (207)

  2. Der kommende Zinsanstieg in den USA – Fluch oder Segen?

    • 27.10.2014, 06:00 PM - 07:30 PM
    • Munich Seminar
    • Dr. Felix Hüfner, Deputy Director, Institute of International Finance
    • Ifo Institute, Ludwig-Erhard-Hall, Poschingerstr. 5, 81679 Munich

  3. The Supply Side of Household Finance

    • 28.10.2014, 05:00 PM - 06:15 PM
    • Hans Möller Seminar
    • Luigi Guiso, EIEF Rom
    • International Economics, Ludwigstr. 28/II, Library (room 221)

  4. European Diesel Automobiles: A Case of Technology Imitation Fostering Domestic Competitiveness

    • 29.10.2014, 12:00 PM - 01:00 PM
    • Ifo Lunchtime Seminar
    • Eugenio Miravete
    • Ifo Institute, Ludwig Erhard Hall, Poschingerstr. 5, Munich

    The presentation will be given in English.

  5. Internal Seminar of the CESifo Group

    • 03.11.2014, 12:00 PM - 01:00 PM
    • Internal Seminar of the CESifo Group
    • Thomas Lambert, Université catholique de Louvain
    • CES, Schackstr. 4/II, seminar room (207)

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


  1. Cover Image "ifo Dresden berichtet 5/2014", ifo Institut, Dresden, 2014 | Details | PDF Download

  2. Cover Image "ifo Schnelldienst 20/2014", ifo Institut, München, 2014, 03-61 | Details

  3. Cover Image "CESifo DICE Report 3/2014 (Autumn): Public-Private Partnerships", Ifo Institute, Munich, 2014, 01-64 | Details | PDF Download

  4. Cover Image "ifo Schnelldienst 19/2014", ifo Institut, München, 2014, 03-48 | Details

  5. Cover Image "ifo-GfK-Konsumreport 09/2014", ifo Institut; GfK Marktforschung, München; Nürnberg, 2014 | Details | PDF Download

  6. Cover Image "ifo Konjunkturperspektiven 09/2014", ifo Institut, München, 2014 | Details

  7. Cover Image "ifo Schnelldienst 18/2014", ifo Institut, München, 2014, 03-50 | Details

Working Paper

  1. Cover Image Battisti, Michele, Gabriel J. Felbermayr, Giovanni Peri and Panu Poutvaara, "Immigration, Search, and Redistribution: A Quantitative Assessment of Native Welfare", CESifo Working Paper No. 5022, October 2014 | Details | PDF Download

  2. Cover Image Felbermayr, Gabriel J., Benedikt Heid, Mario Larch and Erdal Yalcin, "Macroeconomic Potentials of Transatlantic Free Trade: A High Resolution Perspective for Europe and the World", CESifo Working Paper No. 5019, October 2014 | Details | PDF Download

  3. Cover Image Auer, Wolfgang and Natalia Danzer, "Fixed-Term Employment and Fertility: Evidence from German Micro Data", Ifo Working Paper No. 190, 2014 | Details | PDF Download

  4. Cover Image Roesel, Felix, "Co-Partisan Buddies or Partisan Bullies? Why State Supervision of Local Government Borrowing Fails", Ifo Working Paper No. 189, 2014 | Details | PDF Download

  5. Cover Image Kauder, Björn, "Incorporation of Municipalities and Population Growth – A Propensity Score Matching Approach", Ifo Working Paper No. 188, 2014 | Details | PDF Download

  6. Cover Image Henzel, Steffen and Malte Rengel, "Dimensions of Macroeconomic Uncertainty: A Common Factor Analysis", CESifo Working Paper No. 4991, September 2014 | Details | PDF Download

  7. Cover Image Falck, Oliver, Alfred Lameli and Jens Ruhose, "The Cost of Migrating to a Culturally Different Location", CESifo Working Paper No. 4992, September 2014 | Details | PDF Download

  8. Cover Image Efing, Matthias, Harald Hau, Patrick Kampkötter and Johannes Steinbrecher, "Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks", CESifo Working Paper No. 4984, September 2014 | Details | PDF Download

  9. Cover Image Méango, Romuald, "Financing Student Migration: Evidence for a Commitment Problem", Ifo Working Paper No. 187, 2014 | Details | PDF Download