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  1. Ifo Institute Investigates TTIP’s Potential Impact on Third Countries

    Jan 23, 2015: TTIP will not only affect its negotiation partners, but will also potentially impact developing and emerging economies. On the one hand, higher income in the EU and the USA will increase demand for goods and services in third countries, which should benefit them. On the other hand, the agreement can be expected to divert trade flows from TTIP partners away from third countries, which will be detrimental to them. In a new study commissioned by the German Federal Ministry for Economic Cooperation and Development, the Ifo Institute in Munich and the IAW Tübingen jointly explore how threats to emerging countries can be minimised and opportunities can be maximised, to turn the agreement into the basis for a new and fair world trading system. Details

  2. Ifo President Sinn Criticises ECB Decision

    Jan 22, 2015: Ifo President Hans-Werner Sinn has criticised the quantitative easing decisions of the European Central Bank. “This is tantamount to illegal government financing through the money-printing press. If the ECB buys sovereign bonds, the governments will issue new bonds, in effect drawing their funding from the printing press. This is prohibited by Article 123 of the EU Treaty and would require clearing by the German Constitutional Court,” said Sinn in Munich. Details

  3. Ifo Institute Changes Seasonal Adjustment in Business Climate Index

    Jan 16, 2015: The Ifo Institute is changing the seasonal adjustment procedure in its Business Climate Index to improve the filtering out of seasonal fluctuations. This should have a significant impact on the results for the construction sector, and particularly on the business expectations component. The effects on most other numbers are small. The newly calculated Ifo Business Climate Index remains at 105.5 for December 2015. The revised business situation index is now at 109.8 (old procedure: 110.0) and the revised expectations are at 101.4 (old procedure: 101.1). Figures that show significant working day effects will also be subject to an additional working-day adjustment. The downward movement in the business climate index over the course of 2014 calculated according to the new adjustment method was almost identical to the results obtained for the procedure used to date. The increase that followed in November and December was also nearly the same when calculated using both methods. All of the time series will be newly calculated retrospectively according to the new procedure. Details

  4. Ifo President Sinn Criticises EU Advocate General on ECB Proceedings

    Jan 14, 2015: Ifo President Hans-Werner Sinn has criticised the statement by the EU Advocate General on the OMT proceedings against the European Central Bank (ECB). “This is tantamount to a carte blanche for the European Central Bank, provided that it justifies its behaviour,” said Sinn. Details

  5. Ifo President Sinn Fears Fresh Capital Flight from Italy

    Jan 12, 2015: Ifo President Hans-Werner Sinn sees signs of fresh capital flight from Italy. “In December 2014 alone 13 billion euros in net transfers were made from Italy to countries abroad via the European Target System. These transfers take the form of a kind of implicit overdraft credit to the Banca d’Italia issued by the European Central Bank,” says Sinn, citing the latest figures released by the Italian Central Bank. “Italy’s Target debt to the ECB System rose from July 2014 by 79 billion euros to 209 billion euros in December 2014. This latest increase is a sign of fresh capital flight from Italy, which is a clear indication that the euro crisis was only lying dormant and is by no means over.“ Details

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Harald Schultz

Ifo Institute
Press, Publications, Conferences
Phone: +49(0)89/9224-1218
Fax: +49(0)89/9224-1267
Email: schultz@ifo.de
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