Excellent Faculty for Advanced Studies Program 2010/11
The list of lectures in the Kiel Institute's next Advanced Studies Program which will start in August 2010 includes Roberto Rigobon (MIT), David Autor (MIT), Giovanni Peri (UC Davis), Gianmarco Ottaviano (Bologna), Raghuram Rajan (Chicago), Carl Walsh (UC Santa Cruz), Volker Wieland (Frankfurt), Gino Gancia (Barcelona) and James Robinson (Harvard). more...
Raw material prices to rise only moderately in 2010
The AIECE Working Group on Commodities expects that commodity prices will stabilise in the remainder of 2009 and are thereafter likely to follow a moderately rising trend until mid-2011. The main driver of the prices will be growing demand from developing countries, from China in particular. more...
Entrepreneurial Spirit and Innovation as a way out of the Crisis — is the USA better equipped than Europe?
The current crisis will cause far-reaching changes in the real economy. Human, material, and financial capital will be withdrawn from sectors with excess capacity and be used in new sectors demanding these resources. The ease with which this structural transformation takes place will determine the rate of future economic growth. A new study in the Kiel Policy Brief entitled “Adjustment after the Crisis- will the Financial Sector Shrink and Entrepreneurship Boom?” by Frank Bickenbach, Eckhardt Bode, Dirk Dohse, Aoife Hanley, and Rainer Schweickert, all researchers at the Kiel Institute, comes to the conclusion that the USA has better chances to return to a higher rate of growth than Europe due to three factors. more...
Monetary Policy after the Global Financial Crisis: Is It Time to Put on the Brakes?
In a new Kiel Policy Brief entitled “Looking Forward: Exiting Unconventional Monetary Policy,” Mewael F. Tesfaselassie, of the Kiel Institute, deals with how to exit the unconventional monetary policies pursued during the crisis. He argues convincingly that the central banks urgently need to develop exit strategies and need to make them public, even though the time to implement such strategies may not yet be ripe. more...
Stimulus Packages: Germany ahead in Europe
The magnitude and composition of government-created stimulus packages developed in response to the world-wide financial crisis differed greatly among countries. This is the conclusion reached by Steffen Ahrens, economist at the Kiel Institute, in his work, “Fiscal Responses to the Financial Crisis,” which analyzes the data of over 30 national economic stimulus packages. His work appears in the new edition of the Kiel Policy Brief. Whereas the United States and China initiated the largest stimulus packages internationally, Germany holds the leading role in Europe. more...
International Labor Migration Promotes Economic Development in Home Countries
In spite of the economic crisis, the rich industrialized countries should facilitate the immigration of labor. Above all, migrants with low to middle qualifications should be allowed to work for limited periods of time in job areas that suffer from a scarcity of labor. In addition, migration of qualified labor should be made easier and should be regulated in a transparent fashion. more...
Will Export Economies Sustain Long-Term Damage as a Result of the Financial Crisis?
Now that there are signs that the economy is picking up again exporters are also hopeful again. However, Kiel Institute experts Oliver Godart, Holger Görg, and Dennis Görlich caution against being too optimistic. They point out that export economies depend upon global production networks and that these have also been damaged by the global economic and financial crisis. more...
A Four-Point Reform for the International Monetary Fund
The International Monetary Fund (IMF) has increasingly become the subject of criticism in recent years. It could, however, help to coordinate national financial market reforms and national macroeconomic policies in order to lessen the danger that global crises will occur. But before it could do so, it would need to carry out a four-point reform. more...
Roots of Global Imbalances Still Unresolved
The savings glut in East Asia as well as loose monetary policy and missing regulations of financial markets in the U.S., made global imbalances increase during the last years. In the course of the global economic crisis, these imbalances seemed to decline lately. Is this supposed to be a sustainable and long-term development? In the policy brief “Global Imbalances after the Financial Crisis“ Jens Boysen-Hogrefe, Klaus-Jürgen Gern and Nils Jannsen answer this question with a pronounced no. more...
GES: First Proposals for Solutions to Global Problems Generated
During the Global Economic Symposium (GES), held from September 10th to the 11th in the Fielmann Akademie Plön Castle in Schleswig-Holstein, the participants of the panels generated some far-reaching proposals for solutions to pressing global problems. more...
