Monika Dietsch (Copyright)  Geld Cash Finanzen
Roundup, 09 Jan 2017

Inflation targeting has become one of the most prominent monetary regimes around the globe. Proponents argue that it reduces the dynamic inconsistency problem of monetary policy and thereby stabilises prices, which in turn promotes growth. Opponents, on the other hand, say that by focusing on price ... more

Stefan Redel (Copyright)  Finanzamt Formular Steuererkl
Report, 21 Dec 2016

A comprehensive, microdata-based analysis of the German tax system’s distributional effects in 2015 shows that the total tax burden from direct and indirect taxes is slightly progressive on higher income segments, but regressive in the lower income deciles. Income and corporate taxes are ... more

Andre Bonn (Copyright)  Hosentasche Tasche Taschen
Interview, 21 Dec 2016

Mr. Bach, DIW Berlin analyzed the distribution effects of the German tax and social security contribution systems in cooperation with Freie Universität Berlin. Which income group in Germany makes the highest contribution to income tax revenues? High-income households generate most of the ... more

danstar (Copyright)  Business Arbeit Beruf
Press Release, 20 Dec 2016

German economy’s growth rate will drop next year, primarily due to calendar effects – labor market expansion losing some momentum – numerous risks for the global economy According to a new forecast by the German Institute for Economic Research (DIW Berlin), the German economy ... more

danstar (Copyright)  Einkauf Shopping Einkaufen
Interview, 16 Dec 2016

Mr. Fichtner, the German economy’s growth rates have been quite favorable lately. What will next year look like? For 2017, we’re expecting a marked slowdown in the growth rate for Germany. However, this is mostly due to a statistical effect: 2017 will have fewer workdays (and thus lower ... more

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by Stefan Bach, Martin Beznoska, Viktor Steiner, in DIW Economic Bulletin

A comprehensive, microdata-based analysis of the German tax system's distributional effects in 2015 shows that the total tax burden from direct and indirect taxes is slightly progressive on higher income, but regressive in the lower deciles. Income and corporate taxes are distinctly progressive. They impose hardly any burden on lower- and middle-income households, but the average burden significantly increases for higher incomes. On the other hand, the indirect taxes that generate almost half of Germany’s tax revenues have a highly regressive effect. In relation to income, they burden low earners more heavily than high-income households. When some of the social security contribution is assigned to the tax system, the total tax burden on middle income groups is not much lower than that on the very wealthy, whose corporate and investment income are not subject to a progressive income tax.

by Ferdinand Fichtner, Guido Baldi, Christian Dreger, Hella Engerer, Stefan Gebauer, Michael Hachula, Malte Rieth, in DIW Economic Bulletin

The world economy is gaining momentum after sluggish growth in the first half 2016 – which was primarily due to a weak expansion in the emerging markets – gave way to a slight acceleration. This trend is likely to continue, and will increasingly benefit the developed economies as well. The brightening labor market situation in advanced countries is leading to a higher level of consumer demand, which will remain a primary growth driver. As a result of the improved sales opportunities, the currently weak corporate investment activity should pick up again. The growth of global economic output is expected to amount to 3.3 percent this year, and is expected to be slightly higher in the coming two years. This development will be supported by fiscal policy, while monetary policy is likely to become more contractionary globally in the course of further U. S. interest rate hikes. There remain significant risks, however – especially in Europe, where political uncertainty is high due to the Brexit decision and the upcoming elections in key EU member states, among other factors.

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