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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 Fall to Historic Low

    teaserImage Credit constraints for German companies fell to 17.1 percent in January from 17.4 percent last month. This marks a new historical low. The financing conditions for German companies remain excellent at the beginning of 2015. The drop in credit constraints reflects the inflationary flood of money that banks expect from the European Central Bank. Details

  2. Negative Interest Rates Levied By Commercial Banks and Their Impact

    teaserImage In mid-2014 the European Central Bank began charging negative interest rates on bank deposits. Last autumn several banks started passing these costs on to private investors with very high total deposits. The implications of this development are discussed by Hans-Peter Burghof, University of Hohenheim, Max Otte, University of Graz, Tobias Tröger, Goethe University Frankfurt am Main, Ansgar Belke, University Duisburg-Essen, Thorsten Polleit, Degussa and University of Bayreuth, and Martin Klein, Martin Luther University Halle-Wittenberg, in ifo Schnelldienst 2/2015. Details

  3. Ifo Business Climate for Eastern Germany Starts the Year Cautious, but Positive

    teaserImage The Ifo Business Climate Index for the Eastern German Länder rose only slightly at the beginning of the year. The improvement in the business climate was due to better assessments of the current business situation on the part of Eastern German companies. In terms of business expectations, by contrast, Eastern German survey participants are somewhat more pessimistic. The recovery seen in the Eastern German economy in the fourth quarter of 2014 continued at the beginning of 2015. Details

  4. Export Outlook for German Manufacturing Continues to Brighten

    teaserImage German manufacturers expect exports to rise. The Ifo Export Expectations rose for the fourth time in succession in January to 9.5 balance points from 7.7 balance points in December. Exports, which were already very high, were given an additional boost by the sharp drop in the euro exchange rate. Details

  5. German Firms Step Up Search for Extra Staff

    teaserImage The economic upturn is prompting a growing number of German firms to look for additional staff. The Ifo Employment Barometer rose to 108.2 index points in January from 106.6 points in December, reaching its highest value since March 2012. Service providers remain the main driver behind this development. Details

  1. Credit Constraint Indicator - From the Ifo Business Survey for January 2015

    Credit Constraints Fall to Historic Low

    Jan 30, 2015: Credit constraints for German companies fell to 17.1 percent in January from 17.4 percent last month. This marks a new historical low. The financing conditions for German companies remain excellent at the beginning of 2015. The drop in credit constraints reflects the inflationary flood of money that banks expect from the European Central Bank. Details

  2. Results of the Ifo Business Survey for January 2015

    Ifo Business Climate for Eastern Germany Starts the Year Cautious, but Positive

    Jan 29, 2015: The Ifo Business Climate Index for the Eastern German Länder rose only slightly at the beginning of the year. The improvement in the business climate was due to better assessments of the current business situation on the part of Eastern German companies. In terms of business expectations, by contrast, Eastern German survey participants are somewhat more pessimistic. The recovery seen in the Eastern German economy in the fourth quarter of 2014 continued at the beginning of 2015. Details

  3. Ifo Employment Barometer - Results of the Ifo Business Survey for January 2015

    German Firms Step Up Search for Extra Staff

    Jan 28, 2015: The economic upturn is prompting a growing number of German firms to look for additional staff. The Ifo Employment Barometer rose to 108.2 index points in January from 106.6 points in December, reaching its highest value since March 2012. Service providers remain the main driver behind this development. Details

  4. Results of the January 2015 Ifo Business Survey

    Ifo Business Climate Index Continues to Rise

    Jan 26, 2015: The Ifo Business Climate Index for industry and trade in Germany rose to 106.7 points in January from 105.5 points last month, marking its third successive increase. Companies were far more satisfied with their current business situation and the majority was also optimistic about the business outlook. The German economy makes a good start to the year. Details

  5. Results of the January 2015 Ifo Business Survey

    German Service Sector: Ifo Business Climate Indicator for the Service Sector Edges Downwards

    Jan 26, 2015: The Ifo Business Climate Indicator for the German service sector fell to 24.5 balance points in January, from 25.8 points in the previous month. Service providers slightly scaled back their assessments of the current business situation, which nevertheless remain at a high level. Their business expectations are also slightly less optimistic than in December. The share of service providers planning price increases continued to rise. Details

  6. Ifo Manager Survey

    Ifo Manager Survey December 2014

    Jan 16, 2015: 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

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

    Saxon Economy Ends Year on a Positive Note

    Jan 10, 2015: The Ifo Business Climate Index for German trade and industry rose to 105.5 points in December from 104.7 points in the previous month. The climate indicators for Eastern Germany and Saxony also showed a clear improvement. The Saxon companies surveyed were no longer as satisfied with their current economic situation as last month. However, they were far less pessimistic overall about the future; and the business outlook for the first six months of 2015 brightened considerably. The rise in the business climate indicator in Saxony was accompanied by a considerable improvement in the economic outlook for 2015. Details

  8. Ifo Export Climate for November 2014

    Corporate and Consumer Confidence Abroad Remains Stable

    Jan 7, 2015: The Ifo Export Climate edged downwards in November to 0.37 index points from 0.47 points last month. Corporate and consumer confidence abroad remained stable compared to last month. Following a significant improvement in October, competitiveness improved only slightly, hardly providing any positive stimulus in November. Details

  9. Ifo Employment Barometer - Results of the Ifo Business Survey for December 2014

    A Whiff of Optimism in the German Employment Market

    Jan 2, 2015: As the year draws to a close, German companies are planning to recruit more staff. The Ifo Employment Barometer rose to 106.7 index points in December from 105.4 points in November. Service providers were once again the main driver behind this development. Details

  10. Credit Constraint Indicator - From the Ifo Business Survey for December 2014

    German Companies Enjoy Increasingly Easy Access to Bank Credit

    Dec 22, 2014: German companies can currently access bank credit without any major difficulties. Credit constraints for German trade and industry fell to 17.4 percent in December from 18.3 percent last month. This corresponds to the historical low reached in May 2014. As the year draws to a close, the financial environment for German firms therefore remains very good. In turbulent times German companies are seen as a safe harbour for investment capital. Details

Transparency, governance and corruption problems

Transparency, governance and corruption problems

Munich Seminar on 09 February 2015 with Dr. Dr. h.c. Stefan Hanselmann, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) read on Transparency, governance and corruption problems

The German Problem and the European Question: Lessons from History

The German Problem and the European Question: Lessons from History

Munich Seminar on 23 February 2015 with Prof. Brendan Simms, Professor in the History of International Relations at the University of Cambridge read on The German Problem and the European Question: Lessons from History

Next Events

  1. Lunchtime Seminar TU Dresden

    • 02.02.2015, 11:10 AM - 12:40 PM
    • Lunchtime Seminar TU Dresden
    • Christine Arnsmeyer
    • TU Dresden, Sitzungszimmer der Fakultät Wirtschaftswissenschaften, Raum SCH B 037

  2. Unrealistic Expectations and Misguided Learning

    • 03.02.2015, 05:00 PM - 06:15 PM
    • Hans Möller Seminar
    • Botond Koszegi, CEU Budapest
    • International Economics, Ludwigstr. 28/II, Library (room 221)

  3. Ethnic Diversity and Firms’ Export Behavior

    • 04.02.2015, 12:00 PM - 01:00 PM
    • Ifo Lunchtime Seminar
    • Davide Sala
    • Ifo Institute, Ludwig Erhard Hall, Poschingerstr. 5, Munich

    The presentation will be given in English.

  4. Freihandel, Globalisierung, Protektionismus – Weltwirtschaftliche Perspektiven

    • 06.02.2015, 12:00 AM - 08.02.2014, 12:00 AM
    • Conference
    • Schlossstraße 2-4, 82327 Tutzing

    Die Evangelische Akademie Tutzing veranstaltet in Kooperation mit dem ifo Institut vom 6. bis 8. Februar 2015 eine Tagung zu den wirtschaftlichen Chancen und Risiken des Transatlantischen Freihandels.

  5. Transparency, governance and corruption problems

    • 09.02.2015, 06:00 PM - 07:30 PM
    • Munich Seminar
    • Dr. Dr. h.c. Stefan Hanselmann, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)
    • 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 02/2015", ifo Institut, München, 2015 | Details

  2. Cover Image "CESifo DICE Report 4/2014 (Winter): Profit Shifting", Ifo Institute, Munich, 2014, 01-63, Section: Forum | Details | PDF Download

  3. Cover Image "ifo Schnelldienst 01/2015", ifo Institut, München, 2015, 01-76 | Details

  4. Cover Image "CESifo Forum 4/2014 (Winter): Free Trade and Prosperity", Ifo Institute, Munich, 2014, 03-39 | Details | PDF Download | EPUB Download

  5. Cover Image "ifo-GfK-Konsumreport 12/2014", ifo Institut; GfK Marktforschung, München; Nürnberg, 2014 | Details | PDF Download

Working Paper

  1. Cover Image Fabritz, Nadine, "ICT as an Enabler of Innovation. Evidence from German Microdata", Ifo Working Paper No. 195, 2015 | Details | PDF Download

  2. Cover Image Kluge, Jan, Gunther Markwardt and Christian Thater, "Self-preserving Leviathans - Evidence from Regional-level Data", CESifo Working Paper No. 5177, January 2015 | Details | PDF Download

  3. Cover Image Filote, Andra, Niklas Potrafke and Heinrich Ursprung, "Suicide Attacks and Religious Cleavages", CESifo Working Paper No. 5179, January 2015 | Details | PDF Download

  4. Cover Image Falck, Oliver, Michael Fritsch, Stephan Heblich and Anne Otto, "Music in the Air: Estimating the Social Return to Cultural Amenities", CESifo Working Paper No. 5183, January 2015 | Details | PDF Download

  5. Cover Image Heiland, Inga and Erdal Yalcin, "Export Market Risk and the Role of State Credit Guarantees", CESifo Working Paper No. 5176, January 2015 | Details | PDF Download