ECB: Monetary policy needs limits
IW News, 15 August 2017 Markus Demary

ECB: Monetary policy needs limits Arrow

The German Constitutional Court has rightly expressed doubts about the monetary policy of the European Central Bank (ECB) and has asked the European Court of Justice for a legal review of it. This time, the case is about the Public Sector Purchase Program (PSPP), within which the ECB has already purchased bonds worth 1.6 trillion euros. The limits on the asset purchases have to be clarified. more

A new chance for private pension saving?
IW-Kurzbericht, 7 August 2017 Markus Demary / Susanna Kochskämper

A new chance for private pension saving? Arrow

The European Commission aims at strengthening the cross-border provision of pension products by the introduction of Pan-European Personal Pensions (PEPP) as a new regime on top of existing national frameworks. However, a pre-requisite for the success of PEPP will be the support of the national legislators for this framework.  more

An Evaluation of  Sovereign-backed Securities (SBSs)
IW policy paper, 28 June 2017 Markus Demary / Jürgen Matthes

An Evaluation of Sovereign-backed Securities (SBSs) Arrow

The EU Commission proposes establishing Sovereign-Backed Securities (SBSs) as a class of safe assets for the euro area. SBSs are generated by an issuing agency that would purchase a large diversified portfolio of national sovereign bonds, and finance the purchases by issuing (at least) two types of structured bonds: a risk-free senior SBSs tranche and a risky junior SBSs tranche.  more

For better CO2 regulation of motor vehicles in Europe – A compendium
Expertise, 9 August 2017 Thomas Puls

For better CO2 regulation of motor vehicles in Europe Arrow

The transportation sector faces special challenges in the process of decarbonisation, since the need for mobility – both for people and goods – is rapidly increasing around the world, especially in the emerging economies. Because of road traffic’s key position in mobility, the future CO2 regulation of cars and trucks will play a substantial role in climate policy. more

IW-Kurzbericht, 4 August 2017 Markus Demary

Investing in the Stock Market: The Long-Term View Matters Arrow

After the internet bubble collapsed in 2000, German households have reduced their investments in the stock market. Losses at that time were not so much caused by market volatility, but the consequence of short-term speculation. However, putting savings into the stock market can be very profitable for households, when the investment horizon is sufficiently long.  more

Ensuring accountability in modern trade policy
IW-Report, 27 June 2017 Jürgen Matthes / Ilaria Maselli

Ensuring accountability in modern trade policy Arrow

Attempts to foster trade liberalisation with a new generation of trade agreements aimed at lowering non-tariff barriers face opposition among the general public. Many fear that trade liberalisation risks lowering the level of protection embedded in regulations that are aimed at safeguarding social rights, health and the environment.  more

Free Trade between Europe and Japan – hope for global prosperity
Contribution, 20 June 2017 Hubertus Bardt on KKC International Platform

Free Trade between Europe and Japan – hope for global prosperity Arrow

In an environment with growing protectionism and the danger of economic disintegration and shocks for the global trade policy system, a free trade agreement between Japan and Europe could set a positive example. Progress in the negotiations are necessary to foster growth and prosperity and to send a message to other countries, that modern market economies rely on good trade relations. more

German investment becomes focus of international politics
IW-Kurzbericht, 7 June 2017 Michael Grömling

German investment becomes focus of international politics Arrow

Overall investment activity in Germany is currently a hot topic in international economic policy discussions. In the controversy over Germany’s large current account surpluses, the argument is regularly put forward that imports of goods lag behind exports due to the overly weak domestic demand within Germany. more

European SME Policy – Recommendations for a Growth-Oriented Agenda
IW policy paper, 31 May 2017 Klaus-Heiner Röhl

European SME Policy – Recommendations for a Growth-Oriented Agenda Arrow

As a result of the European debt crisis, start-ups and established small and medium-sized companies have returned into focus for policy-makers in Brussels. They hope that SMEs create more jobs and growth. Despite this, the concerns of SMEs are still not at the heart of economic policy and regulation. more

Future of the European Monetary Union – how to deepen the Eurozone?
Event, 28 June 2017 Working Breakfast

Future of the European Monetary Union Arrow

The Cologne Institute for Economic Research (IW Köln) and the Association of German Banks (BdB) have successfully launched a series of events on the topic of the European Financial Markets. more