Burghard Kripke (Copyright)  Gold Golden Goldfarben
Press Release, 03 May 2016

DIW study: in several European countries prior to 2010, between 27 and 40 percent of households received inheritances or gifts – German tax policy regarding inheritances and gifts riddled with exceptions High-income individuals are more likely to inherit wealth than are low-income individuals... more

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Debate, 02 May 2016

An increased flexibility of the electricity demand side through demand response (DR) is an opportunity to support the integration of renewable energies. By optimising the use of the generation, transmission and distribution infrastructure, DR reduces the need for costly investments and contributes... more

Bankenverband, Flickr.com (Copyright)  Erbschaft Schenkung Erbe
Interview, 27 Apr 2016

Mr. Westermeier, in which European countries do we see assets being inherited more frequently and in which countries is this a less frequent occurrence? Overall, the frequency of inheritances and gifts is quite similar across all European countries. Between 30 and 40 percent of households benefited... more

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Debate, 26 Apr 2016

One of the central results in international economics is that an economy cannot have at the same time independent monetary policy, free capital flows, and a fixed exchange rate. Over the last few years, however, this so-called Mundell-Flemming ‘trilemma’ has increasingly been challenged.... more

DC_1 (Copyright)  Gl hen Glut
Press Release, 22 Apr 2016

Current corporate investment levels hardly surpass pre-crisis levels – Experts Commission’s recommendations for strengthening investment still relevant – additional tax incentives should be considered Businesses in Germany are still investing too little in their manufacturing... more

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by Christian Westermeier, Anita Tiefensee, Markus M. Grabka, in DIW Economic Bulletin

By 2010, 27 to 40 percent of all households in euro countries had inherited or received gifts. This only includes transfers from outside their own household. The present value of these transfers averaged between 85,000 and 274,000 euros, depending on the relevant country. The sum of all inheritances and gifts in western Germany corresponds to one-third of the current net worth of households— and is the highest of all euro countries included in this study. Based on recipient households only, the share in western Germany is 52 percent. In Austria, Belgium, France, and western Germany, individuals from high-income households inherit more frequently and receive much higher amounts than those from low-income households. Since intergenerational income mobility is low, highincome households can build wealth, both from regular income and from substantial capital transfers.

by Marcel Fratzscher, Martin Gornig, Alexander Schiersch, in DIW Economic Bulletin

Although the federal government has been taking steps to strengthen investment in Germany, it remains considerably low. This includes private investment, on which thepresent study focuses. German companies are barely investing more than they did before the crisis, but this is not the case elsewhere: in the US, for example, the level of investment is nearly 14 percent higher than it was in 2007. One year ago, the Experts Commission “Strengthening Investment in Germany,” presented a plan comprising concrete recommendations for mitigating or even eliminating Germany’s investment weakness. The report contained proposals for increasing public investment, as well as measures for strengthening private investment. Since then, however, far too little progress has been made in the four primary fields of action for private investment identified by the Experts Commission (digital networks, energy infrastructure, innovations, and young enterprises). The need for action remains high; among other measures, tax incentives for investment could help.

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