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Classifying countries as safe countries of origin appears to substantially reduce the number of asylum applications from such countries. That is the conclusion reached by IfW economists Sebastian Braun and Richard Franke. They compared the number of asylum applications made in 2014 and 2015 from Bosnia-Herzegovina, Macedonia, and Serbia, which were all declared safe countries in 2014, with the applications received from the neighboring states of Albania, Kosovo, and Montenegro, which are not designated safe countries. “There is clear evidence that categorizing a country as a safe or unsafe country of origin has an impact on the number of asylum applications from that country,” says Sebastian Braun, Head of the Research Area Globalization and the Welfare State.

German GDP expected to increase by 1.8 percent (2015), 2.1 percent (2016), and 2.3 percent (2017) – Strong consumption growth is driving economic activity – Imports will grow faster than exports – Weakness in emerging markets and China weighs on global growth – GDP in China is expected to slow down, risk of a “hard landing” has risen considerably

When central banks pump money into the banking system during a financial crisis, such a policy is initially very effective, but the impact declines over the course of the crisis. That is the conclusion drawn by researchers at the Institute for the World Economy (IfW), who have empirically analyzed the transmission of monetary policy during financial crises.

On Sunday June 21, the Kiel Institute for the World Economy and its partners, the City of Kiel and the Schleswig-Holstein Chamber of Commerce, have awarded the eleventh Global Economy Prize at the Kiel City Hall. The following persons have been honored as masterminds of a cosmopolitan, market-oriented and caring society:

Gross domestic product increases 1.8 percent this year and 2.1 percent next year – Inflation near 2 percent by the end of next year – Private consumption boom continues – Investment spending is gaining strength and is to become the key economic driver – World Economy still with only moderate growth

The Kiel Institute has advised the European Parliament about the risks of the Public Sector Purchase Programme (PSPP) the ECB started in March 2015. “When future economic circumstances urge the ECB to considerably tighten its monetary policy stance these risks are difficult to quantify, but scenario projections indicate that they are economically significant,” Prof. Stefan Kooths, Head of the Forecasting Centre at the Kiel Institute says.

We kindly invite you to the award ceremony for the 2015 Global Economy Prize. The award ceremony takes place on Sunday, June 21, at 10 a.m., at the Kiel City Hall, Fleethörn 9, 24103 Kiel.

Germany a midfielder: The labor market improved based on the Agenda 2010 although at the price of increasing wage inequality – Germany should have considerable scope to top up social investments such as in education or training – Southern European countries do worst due to high costs and an uneven income distribution

Prof. Dennis Snower: „Awarding the Global Economy Prize on June 21st approaches and we are very much looking forward to the outstanding awardees 2015 visiting Kiel and exchanging views with them.

As of now the Kiel Institute for the World Economy advises the European Parliament on issues related to monetary and economic policy. In particular the Kiel Institute will prepare surveys on current issues of currency and monetary policies in the Euro Area in order to brace the European Parliament for regular discussions with the European Central Bank (EZB).

German economy is regaining momentum driven by private consumption – German GDP is expected to increase by 1.8 percent (2015) and 2.0 percent (2016) – Unemployment, already at record-low numbers since reunification, to decline further – Only moderate fiscal surpluses despite a very favorable macroeconomic environment – Economy dives into moderate overutilization – overheating on the horizon – Euro area shows moderate recovery, global economy expanding slightly stronger

The following persons will be honored as masterminds of a cosmopolitan, market oriented and caring society: Michail Gorbatschow, former Soviet politician and USSR head of state, Nobel Peace Prize laureate, Jeffrey Immelt, General Electric CEO and economic adviser to US president Barack Obama, Kristine und Douglas Tompkins, entrepreneurs in the textile industry (The North Face, Esprit, Patagonia) who founded several private national parks in Patagonia, Sir Christopher A. Pissarides, Cypriot-British scientist and professor of economics at the London School of Economics and Professor of European Studies at the University of Cyprus, Nobel Prize laureate

The Greek Economy is uncompetitive both on a European and on a global scale. For the time being, the Greek industry operates on markets for resource and labour intensive products where it is challenged by heavy price competition from emerging market countries. Sustainable growth in contrast, would have to be based on substantially increased value added in production and on globally competitive export industries. This concludes the Kiel Institute for the World Economy in a recent analysis of the Greek economy.

Economic researchers expect the euro zone to recover at moderate speed with a growth of 1.5% in 2015 and 2% in 2016. Persistent low oil prices worldwide would have a substantial positive impact on growth ofup to an additional one percentage point.