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Report
More than ever, Greece is in dire straits. Even after the Greek government underwent its fifth change since the start of the crisis, the Greek economy did not arrive at a path of sustainable growth. It has become clear that the economy will not achieve prosperity solely through the recommendations of the so-called Troika—now being renamed “the institutions”—which include cutting ...
30.04.2015
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Press Release
DIW Berlin examined the preconditions and probable effects of the quantitative easing in the euro area, and compared it to similar programs in other countries. The bottom line: Although there is heavy pressure on the ECB to take action, monetary policy should not remain isolated.According to the German Institute for Economic Research (DIW Berlin), the European Central Bank’s (ECB) asset purchase ...
25.03.2015
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Interview
The Interview with Prof. Dr. Kerstin Bernoth and Dr. Philipp König is published in DIW Economic Bulletin 13/2015. It is available for Download as pdf document.
More issues of DIW Economic Bulletin
25.03.2015
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Press Release
DIW economic experts are forecasting a growth of 2.2 percent in 2015, which should stand at 1.9 percent in 2016 - capacity utilization at nearly normal levels - foreign markets less important than before the crisis - primary growth driver is private consumption based on a good labor market - surpluses in public budgets remain high - international risks remain significant
The German economy, which ...
19.03.2015
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Economic Bulletin
by Karl Brenke, Marcel Fratzscher, Markus M. Grabka, Elke Holst, Sebastian Hülle, Stefan Liebig, Maximilian Priem, Anika Rasner, Pia S. Schober, Jürgen Schupp, Juliane F. Stahl, Anna Wieber in: DIW Economic Bulletin 11/2014
People’s expectations after the fall of the Berlin Wall 25 years ago and of reunification in 1990 were huge. The government promised to create “flourishing ...
11.12.2014
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Economic Bulletin
by Kerstin Bernoth, Patrick Burauel and Philipp Engler in: DIW Economic Bulletin 10/2014
Member countries of the euro area, and the peripheral states in particular, face an especially difficult problem: on the one hand, they urgently need stronger economic growth to reduce high debt and unemployment levels. On the other hand, however, they have no scope to use fiscal policy to stimulate ...
17.11.2014
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Economic Bulletin
by Christoph Große Steffen and Julian Schumacher in: DIW Economic Bulletin 10/2014
The International Monetary Fund (IMF) stated in spring of this year that a more timely restructuring of Greece’s sovereign debt would have been beneficial. But what are the available options for early debt restructuring? The report argues that current reforms in the Euro area, in particular, introducing ...
17.11.2014
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Economic Bulletin
by Philipp Engler and Christoph Große Steffen in: DIW Economic Bulletin 10/2014
The cost of state bankruptcy in the euro area is incalculable due to the repercussions for the financial system. As a result of contagion effects, there is a risk that the entire Monetary Union could be pushed into deep recession. This forces euro area member states to implement rescue packages during ...
17.11.2014
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Economic Bulletin
by Ferdinand Fichtner, Marcel Fratzscher, Maximilian Podstawski, Dirk Ulbricht in: DIW Economic Bulletin 9/2014
The crisis in the European currency area is not yet over. Although the situation in the financial markets is currently relatively calm, the economic crisis appears to be bottoming out in most countries. Nevertheless, there are still fundamental design flaws in the Monetary Union. If ...
06.11.2014
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Economic Bulletin
Stabilizing the European Monetary Union: High Time for More Reforms! Seven Questions to Ferdinand Fichtner
06.11.2014
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Economic Bulletin
by Gerhard Illing and Philipp König in: Economic Bulletin 9/2014
In the wake of the recent European debt crisis, the European Central Bank (ECB) has grown significantly in importance. As the crisis worsened, the ECB needed to take measures that went far beyond standard monetary policy operations - particularly with respect to its function as lender of last resort. It provided the banking sector ...
06.11.2014
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Economic Bulletin
by Franziska Bremus and Claudia Lambert in: Economic Bulletin 9/2014
Despite the most recent period of calm on the financial markets, the long-term resilience of the European financial system is not yet assured, even several years after the financial crisis began. However, the stability of the financial system playsa crucial role for real economic development and consequently for growth and prosperity. ...
06.11.2014
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Economic Bulletin
by Marcel Fratzscher, Christoph Große Steffen, Malte Rieth in: Economic Bulletin 9/2014
Greece is standing at a crossroads. The need for a third rescue package has now become a critical issue. The Greek government is calling for another de facto-public debt restructuring. An alternative option presented here would be to convert existing GLF loans into GDP-linked loans. Interest payments ...
06.11.2014
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Press Release
Although the European Central Bank (ECB) has been pursuing an expansionary monetary policy course for many years, inflation in the euro area remains extremely weak. Furthermore, as the present Wochenbericht clearly demonstrates, the inflation expectations in the euro area are no longer firmly anchored. Expectations are becoming increasingly decoupled from the ECB's inflation target which, in turn, ...
10.09.2014
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Economic Bulletin
Europe Needs To Further Diversify Its Gas Imports: Seven Questions to Claudia Kemfert
15.08.2014
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Press Release
Greece finds itself at the crossroads. There is the imminent question if Greece should apply for a third public support programme. Government officials are confronting European partners with new calls for a de facto haircut on its outstanding debt. Another option would be to swap existing loans from the European support programs into GDP-linked loans. As a result, interest payments would be linked ...
30.07.2014
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Press Release
The mobility of the labor force within the European Union - measured as the proportion of EU foreigners in EU-15 countries to the total EU labor force - increased by approximately one-quarter to almost 3.1 percent from 2007 to 2012. This is primarily due to increased migration of persons from the new eastern European EU member states such as Poland and Romania and, to a lesser degree, due to increased ...
23.07.2014
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Press Release
An investment fund should temporarily improve the capital stock of small and medium-sized enterprises as part of a comprehensive agenda - In the euro area, there is an annual investment gap of approximately two percent of GDP or 180 billion euros - Many sectors both in the manufacturing and service industries are showing signs of a significant lack of investment, especially the energy sectorThe German ...
03.07.2014
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Economic Bulletin
"We Need to Give Impetus to the Private Sector": Six Questions to Marcel Fratzscher
03.07.2014
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Economic Bulletin
Europe’s Investment Slump: Five Questions to Claus Michelsen
03.07.2014