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The Danger of Neglecting the Issuer Side
  • Markus Demary / Adriana Neligan ·
  • IW-Policy Paper No. 2 ·
  • 14 Feb 2019

Defining Green Bonds: The Danger of Neglecting the Issuer Side

The European Union is currently making significant strides to lead on green finance and align its financial system with its climate, sustainability and clean energy ambitions. To this end, the European Commission presented three legislative proposals on sustainable finance in May 2018.
First Quarter 2019
  • Markus Demary ·
  • IW-Report No. 4 ·
  • 16 Jan 2019

IW Financial Expert Survey: First Quarter 2019

Pessimism determines the experts’ predictions for the first and second quarter of 2019 which can be inferred from the downward revisions of the experts’ forecasts.
Reasons for the Declining Real Interest Rates
  • Markus Demary / Michael Voigtländer ·
  • IW-Report No. 47 ·
  • 13 Dec 2018

Reasons for the Declining Real Interest Rates

The low nominal interest rate environment is a hotly debated phenomenon among politicians, financial market participants and households. Savers fear the erosion of their retirement savings, while financial supervisors warn of the stability risks caused by declining bank profitability and by the declining profitability of life insurers. Moreover, financial supervisors fear an increase in household debt triggered by a high demand for cheap loans.
IW Financial Expert Survey
  • Markus Demary ·
  • IW-Report No. 37 ·
  • 15 Oct 2018

Fourth Quarter 2018: IW Financial Expert Survey

The experts of the IW Financial Expert Survey predict a steeper yield curve with a larger increase in long-term than in short-term interest rates by the end of the first quarter of 2019. Moreover, the average forecasts indicate higher stock market indices, a mild depreciation of the Euro vis-à-vis the US-Dollar with a larger appreciation in the first quarter of 2019.
On the relevance and perspectives of commercial construction in the EU
  • Pekka Sagner / Michael Voigtländer ·
  • IW-Report No. 32 ·
  • 5 Sep 2018

On the relevance and perspectives of commercial construction in the EU

In this paper, we present the current state of European investments in construction. Furthermore we showed how construction investments fared in comparison to overall GFCF, noting that construction investments are still below their peak levels in 2007 for both investments in dwellings and the construction of non-residential buildings and structures.
IW Financial Expert Survey
  • Markus Demary ·
  • IW-Report No. 29 ·
  • 16 Jul 2018

IW Financial Expert Survey: Third Quarter 2018

The experts of the IW Financial Expert Survey predict a steeper yield curve with a larger increase in long-term than in short-term interest rates by the end of 2018. Moreover, the average forecasts indicate higher stock market indices, a mild depreciation of the Euro vis-à-vis the US-Dollar, but a larger drop in oil prices by the end of the fourth quarter of 2018.
Clear criteria for a veritable market
  • Markus Demary / Adriana Neligan ·
  • Press Release ·
  • 28 Jun 2018

Green Bonds: Clear criteria for a veritable market

The European Commission currently aims at boosting the green financial market by softening the capital requirements for green bonds. This could lead to a bubble, reports the German Economic Institute (IW) in a study. Instead of pushing for rapid growth, the EU should first focus on the planned uniform standards for green bonds.
Are Green Bonds a Viable Way to Finance Environmental Goals?
  • Markus Demary / Adriana Neligan ·
  • IW-Report No. 28 ·
  • 28 Jun 2018

Are Green Bonds a Viable Way to Finance Environmental Goals?

The European Union is currently making significant strides to lead on green finance and align its financial system with its climate, sustainability and clean energy ambitions. The Paris Climate Agreement, the G20 Green Finance Study Group and the G19 Hamburg Climate and Energy Action Plan have provided ongoing momentum for policy moves towards a green financial system.
The risks behind the 'green bond' boom
  • Adriana Neligan / Markus Demary at EUobserver ·
  • Contribution ·
  • 21 Jun 2018

The risks behind the 'green bond' boom

The EU is currently making significant efforts to play a pioneering role in green financing. The aim is to adapt the financial system to its ambitions for climate, sustainability and clean energy. Key impulses here were the Climate Agreement of Paris, the Green Finance Study Group of the G20 and the Hamburg Climate and Energy Action Plan of the G19.
Tackling Non-performing loans in the Euro area
  • Markus Demary ·
  • IW-Report No. 16 ·
  • 7 May 2018

Tackling Non-performing loans in the Euro area

The study of non-performing loans (NPLs) is highly relevant when looking for a solution to the ongoing structural weaknesses in the Euro area banking sectors, especially in light of the planned completion of the banking union and the introduction of a European Deposit Insurance System (EDIS).
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