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On the relevance and perspectives of commercial construction in the EU
  • Pekka Sagner / Michael Voigtländer ·
  • IW-Report ·
  • 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 ·
  • 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 ·
  • 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 im 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 ·
  • 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).
Herculean task for the Eurozone
  • Markus Demary ·
  • Press Release ·
  • 7 May 2018

Non-performing loans: Herculean task for the Eurozone

The big banks in the Eurozone are still sitting on non-performing loans worth over half a trillion Euros. Especially in Cyprus, Greece and Italy bank failures are likely, as shown in a study of the German Economic Institute (IW). If the banks were to be made fit for the introduction of the planned European Deposit Insurance Scheme, then a great deal of money would have to be spent on their restructuring.
IW Financial Expert Survey
  • Markus Demary ·
  • IW-Report ·
  • 26 Apr 2018

IW Financial Expert Survey: Second Quarter 2018

In the IW Financial Expert Survey for the second quarter of 2018 the surveyed experts predict, on average, a steeper yield curve, i.e. a larger increase in the long-term than in the short-term interest rate.
Is the European Central Bank’s Monetary Policy Still Appropriate?
  • Markus Demary / Michael Hüther ·
  • IW-Trends ·
  • 3 Apr 2018

Is the European Central Bank’s Monetary Policy Still Appropriate?

The monetary policy of the European Central Bank is under fire from two sides. While one side regards the ECB’s monetary policy as too expansionary, the other holds it responsible for keeping the measured inflation rate below target.
Safe Asset Shortage by Regulation
  • Markus Demary / Michael Voigtländer ·
  • IW-Kurzbericht ·
  • 3 Apr 2018

Safe Asset Shortage by Regulation

Banks have changed their asset allocation. While the number of loans to non-financial corporations on their balance sheets is slowly growing after a period of deleveraging, banks’ demand for Euro-area sovereign bonds is still accelerating. The high demand for safe and liquid assets is not only driven by risk aversion and liquidity preferences, it is also a side effect of financial regulation.
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