Main Content

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. Coming Soon: the Odysseus Complex

    teaserImage In their latest book “The Odysseus Complex” Ifo President Clemens Fuest and Johannes Becker, Professor at the University of Münster, develop a plan to reform the Eurozone, which would make the currency union less prone to crises and would mitigate conflicts among its member states. “The Odysseus Complex” will be published on 20 February 2017 by the Hanser Verlag. Details

  1. ifo-GfK-Konsumreport for December 2016 Published

    teaserImage In the December issue of the ifo-GfK-Konsumreport Wolfgang Nierhaus, Ifo Institute, focuses on the consumption forecast for 2016-2018. Real private consumption will rise over the forecasting period, while the income and employment outlook remains favourable. The monthly, German-language journal is a joint publication of the Ifo Institute and GfK Marktforschung, Nuremberg, in which the latest results of the GfK consumer climate report and the Ifo Business Survey are published and analysed. This month’s ifo-GfK-Konsumreport is the last issue of this publication. Details

  2. Fuest: Seek Dialogue with Trump

    teaserImage Ifo President Clemens Fuest has called upon Germany and Europe to engage in a dialogue with the future US President Donald Trump. “We should seek a dialogue with Trump to positively influence the further development of his economic plans.” Details

  3. Evaluation of Ifo Economic Forecasts – GDP bang on target

    teaserImage It is not always possible to forecast the business cycle accurately. Like all predictions, the Ifo Institute’s economic forecasts also vary to some extent from the official statistics published at a later date. In the interests of transparency, Ifo’s economic forecasts of real gross domestic product (GDP) are regularly evaluated and compared with the actual figures. The December 2015 Ifo Economic Forecast of 1.9% growth in gross domestic product (GDP) for 2016 was bang on target. Details

  4. The Role of Non-Governmental Organisations in the Globalisation Debate

    teaserImage The number and importance of non-governmental organisations (NGOs) has risen in recent years, and they are influencing public opinion more strongly than ever, especially in terms of globalisation issues. This development and the role of NGOs in the globalisation debate is discussed in the ifo Schnelldienst 1/2017 by Friedrich Kitschelt, German Federal Ministry of Economic Cooperation and Development, Silke Roth, University of Southampton, Achim Brunnengräber, FU Berlin, as well as Matthias Bauer, European Centre for International Political Economy (ECIPE), Brussels. Details

  5. Ifo President Clemens Fuest Awarded Honorary Doctorate

    teaserImage The Karlsruhe Institute of Technology (KIT) has awarded Ifo President Clemens Fuest an honorary doctorate. Fuest receives the award for his services to public finance and for putting academic insights into economic policy practice. Commenting on the award, Prof. Berthold Wigger, who holds the Chair for Public Finance and Public Management at the KIT, said: “Fuest bridges the gap between research and practice better than almost anybody and helps to improve the architecture of institutions.” Details

  1. Regional evaluation for Saxony of the Ifo Business Survey in December 2016

    Ifo Business Climate Index for Saxony Rises

    Jan 10, 2017: The Ifo Business Climate Index for industry and trade in the Free State of Saxony rose slightly at the end of the year. Although survey participants assessed their current business situation as marginally poorer than in November, they expressed far greater optimism about the first half of 2017. The business climate also brightened in eastern Germany and the country as a whole in December. Details

  2. Ifo Export Climate for November 2016

    Ifo Export Climate Continues to Rise

    Jan 5, 2017: The Ifo Export Climate rose from 0.32 index points in October to 0.53 points in November. The increase was due to an improvement in corporate and consumer confidence. Price competitiveness improved marginally versus the previous month. Details

  3. Results of the Ifo Architects Survey of 4th quarter 2016

    Ifo Architects Survey: Business Climate Cools Down Slightly

    Dec 22, 2016: The business climate cooled down slightly at the beginning of the fourth quarter of 2016, according to the results of the Ifo Institute’s quarterly survey of freelance architects. Details

  4. Results of the Ifo Business Survey for December 2016

    Ifo Business Climate Index for Eastern Germany Rises

    Dec 22, 2016: The seasonally-adjusted Ifo Business Climate for the eastern German Länder brightened slightly again towards the end of the year. Thanks to a marginal upturn in business, expectations rose for the fourth month in succession. The eastern German economy will gain impetus in the New Year. Details

  5. Credit Constraint Indicator - From the Ifo Business Survey for December 2016

    Ifo Credit Constraints Edge Downwards

    Dec 22, 2016: It has become slightly easier for German companies to access bank loans. Credit constraints for German trade and industry fell slightly from 14.6 percent in November to 14.5 percent in December. This is the share of companies reporting restrictive lending by banks. Financing conditions were very favourable in 2016 and are expected to remain so in 2017. Details

  6. Ifo Employment Barometer - Results of the Ifo Business Survey for December 2016

    Companies Seek to Recruit Extra Staff

    Dec 22, 2016: German companies plan to recruit additional staff. The Ifo Employment Barometer rose to 111.8 points in December from 111.1 points last month, marking a new historic record since the inclusion of service providers in the survey in 2002. The number of jobs continues to rise unabated and there is no end to the employment boom in sight. Details

  7. Ifo Export Expectations - Ifo Business Survey for December 2016

    Falling Euro Raises German Exporters’ Hopes

    Dec 20, 2016: German manufacturers hope that exports will rise. Their export expectations rose from 6.7 balance points in November to 8.0 balance points in December. Expectations were fuelled by the US Fed’s announcement of an interest rate increase, which pushed up the US dollar exchange rate. German exporters hope that their foreign business will also improve in 2017. Details

  8. Results of the December 2016 Ifo Business Survey

    Ifo Business Climate Improves in the Run-Up to Christmas

    Dec 19, 2016: The German economy is in a festive mood. The Ifo Business Climate Index rose in December to 111.0 points from 110.4 points in November. Assessments of the current business situation improved, reaching their highest level since February 2012. The business outlook for the first half of 2017 is also slightly more optimistic. The German economy is making a strong finish to the year. Details

  9. Results of the December 2016 Ifo Business Survey

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

    Dec 19, 2016: In the service sector the mood deteriorated in the run-up to Christmas. The indicator fell to 31.7 balance points in December from 35.0 balance points in November. Service providers assessed their current business situation less favourably. They also scaled back their business expectations slightly. Both indices, however, are significantly above their long-term average. Service providers remain keen to recruit additional staff. Details

  10. Regional evaluation for Saxony of the Ifo Business Survey in November 2016

    Ifo Business Climate Index for Saxony Rises

    Dec 10, 2016: The Ifo Business Climate Index for trade and industry in the Free State of Saxony rose in November, almost offsetting last month’s decline. Survey participants significantly upwardly revised their assessments of the current business situation, while their six-month business outlook remained at last month’s level. In Germany and eastern Germany as a whole the business climate index trended sideways in November. Details

Next Events

  1. Hans Möller Seminar

    • 17.01.2017, 05:00 PM - 06:15 PM
    • Hans Möller Seminar
    • Daniel Sturm, LSE
    • International Economics, Ludwigstr. 28/II, Library (room 221)

  2. Air quality and labor supply: Evidence from Social Security Data

    • 19.01.2017, 11:00 AM - 12:15 PM
    • SEEM – Seminar on Energy and Environmental Economics Munich
    • Prof. Dr. Ulrich Wagner (Universität Mannheim)
    • TUM School of Management, Arcisstraße 21, 80333 Munich, Room Z536

  3. Public Economics Seminar

    • 19.01.2017, 12:00 PM - 01:00 PM
    • Public Economics Seminar
    • Martin Besfamilie
    • CES, Schackstr. 4/II, seminar room (207)

  4. 11. Workshop "Makroökonomik und Konjunktur"

    • 20.01.2017, 09:00 AM - 21.01.2017, 02:00 PM
    • Ifo Workshop
    • Ifo Institute, Dresden Branch

    Die Niederlassung Dresden des ifo Instituts und die Helmut-Schmidt-Universität Hamburg laden ein zum 11. ifo Dresden Workshop "Makroökonomik und Konjunktur". Der Workshop findet von 20. - 21. Januar 2017 in ifo Dresden, Einsteinstraße 3 statt. Details

  5. Structural transformation and the aggregate elasticity of substitution

    • 23.01.2017, 11:10 AM - 12:40 PM
    • Lunchtime Seminar TU Dresden
    • Michael Knoblach
    • TU Dresden, Sitzungszimmer der Fakultät Wirtschaftswissenschaften, Raum SCH B 037

  6. Junior Jobmarket Seminars

    • 24.01.2017, 05:00 PM - 06:15 PM
    • Hans Möller Seminar
    • International Economics, Ludwigstr. 28/II, Library (room 221)

  7. Public Economics Seminar

    • 26.01.2017, 12:00 PM - 01:00 PM
    • Public Economics Seminar
    • Franz Reiter, LMU Munich, MGSE
    • CES, Schackstr. 4/II, seminar room (207)

Upcoming publications / just released

  1. Cover Image Becker, Johannes and Clemens Fuest, "Der Odysseus-Komplex. Ein pragmatischer Vorschlag zur Lösung der Eurokrise", Hanser Verlag, Forthcoming, 288 , Information | Details

  2. Cover Image Sinn, Hans-Werner, "Der Schwarze Juni. Brexit, Flüchtlingswelle, Euro-Desaster – Wie die Neugründung Europas gelingt", Herder Verlag, 2016, 368 , Information | Details


  1. Cover Image "ifo-GfK-Konsumreport 12/2016", ifo Institut; Gfk Marktforschung, München; Nürnberg, 2016 | Details | PDF Download

  2. Cover Image "ifo Schnelldienst 1/2017", ifo Institut, München, 2017 | Details

  3. Cover Image "ifo Konjunkturperspektiven 12/2016", ifo Institut, München, 2016 | Details

  4. Cover Image "ifo Schnelldienst 24/2016", ifo Institut, München, 2016, 03-75 | Details


  1. Cover Image Weber, Christopher, The Collateral Policy of Central Banks - An Analysis Focusing on the Eurosystem, ifo Beiträge zur Wirtschaftsforschung 72, Ifo Institute, 2016 | Details | PDF Download

  2. Cover Image Dorn, Florian, Clemens Fuest, Björn Kauder, Luisa Lorenz and Martin Mosler, Die Beseitigung des Mittelstandsbauchs – Varianten und Kosten, ifo Forschungsberichte 77, ifo Institut, 2016 | Details | PDF Download

Working Paper

  1. Cover Image Potrafke, Niklas and Felix Roesel, "A Banana Republic? Trust in Electoral Institutions in Western Democracies - Evidence from a Presidential Election in Austria", CESifo Working Paper No. 6254, December 2016 | Details | PDF Download

  2. Cover Image Lehmann, Robert and Klaus Wohlrabe, "Who is the 'Journal Grand Master'? A new ranking based on the Elo rating system", CESifo Working Paper No. 6259, December 2016 | Details | PDF Download

  3. Cover Image Triebs, Thomas P. and Justin Tumlinson, "Learning Capitalism the Hard Way - Evidence from German Reunification", CESifo Working Paper No. 6260, December 2016 | Details | PDF Download

  4. Cover Image Hayo, Bernd and Florian Neumeier, "The (In)Validity of the Ricardian Equivalence Theorem – Findings from a Representative German Population Survey", Ifo Working Paper No. 233, 2016 | Details | PDF Download

  5. Cover Image Gnewuch, Matthias and Klaus Wohlrabe, "Title Characteristics and Citations in Economics", CESifo Working Paper No. 6235, December 2016 | Details | PDF Download

  6. Cover Image Fritzsche, Carolin and Lars Vandrei, "The German Real Estate Transfer Tax: Evidence for Single-Family Home Transactions", Ifo Working Paper No. 232, 2016 | Details | PDF Download

  7. Cover Image Neuhierl, Andreas and Michael Weber, "Monetary Policy and the Stock Market: Time-Series Evidence", CESifo Working Paper No. 6199, November 2016 | Details | PDF Download

  8. Cover Image West, Martin R., Ludger Woessmann, Philipp Lergetporer and Katharina Werner, "How Information Affects Support for Education Spending: Evidence from Survey Experiments in Germany and the United States", CESifo Working Paper No. 6192, November 2016, Also published as: NBER Working Paper 22808, Information | Details | PDF Download

  9. Cover Image Cinnirella, Francesco, Marc P. B. Klemp and Jacob L. Weisdorf, "Malthus in the Bedroom: Birth Spacing as Birth Control in Pre-Transition England", CESifo Working Paper No. 6167, November 2016 | Details | PDF Download

  10. Cover Image Nagl, Wolfgang and Michael Weber, "Stuck in a trap? Long-term unemployment under two-tier unemployment compensation schemes", Ifo Working Paper No. 231, 2016 | Details | PDF Download