The German Economic Institute (IW) is a member (with observer status) of the Association of European Conjuncture Institutes (AIECE). Founded in 1957, the AIECE brings together some 40 institutes from 20 countries along with such international organisations as the OECD, the International Monetary Fund and the European Central Bank. Twice a year, in the AIECE’s working groups and plenary sessions, the IW’s macroeconomic experts meet their counterparts from other member organisations to discuss the economic situation and prospects in their different countries.