Risk in the financial sector: close ties between banks and supervisors

Many top managers at European banks move seamlessly to their supervisory authorities. An IWH study has revealed the extent of these personnel links for the first time. They can pave the way for lax regulation and jeopardise financial stability. Three things politicians should improve.

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IWH Spring Forecast: Germany stuck in stagnation

Germany is experiencing prolonged stagnation. This will continue in the first half of the year, with the economy expected to pick up slightly thereafter. The Halle Institute for Economic Research (IWH) expects gross domestic product to expand by just 0.2% in 2024, followed by 1.5% in 2025 (eastern Germany: 0.5% and 1.4%).

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Blathering managers harm their company

If a senior executive refuses to give information to professional investors, the company's stock market value drops afterwards. This is shown in an IWH study after evaluating 1.2 million answers from telephone conferences.

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Europe's top bankers: Risky business despite bonus cap

Ten years ago, the EU Parliament decided to limit the flexible remuneration of bank managers. But the cap on bonuses misses its target: Executive board members of systemically important European banks take high risks without changes. 

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Stricter rules for banks can relieve real estate markets

Exuberant price levels in the German real estate market could further exacerbate an economic crisis. Fiscal instruments exert too little influence to contain this danger.

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New database on Europe's real estate markets

Exclusively for non-commercial scientific purposes, the IWH European Real Estate Index (EREI) provides a comprehensive overview of residential property offers for sale and rent in 18 European countries.

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Communication instead of conflict – why are female CEOs so interesting for hedge funds

Female CEOs particularly benefit from the intervention of hedge fund activists due to their strong communication and cooperation skills. The value of female-led firms is enhanced more by the intervention of activist investors than that of firms with male CEOs.

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Solidarity with Israel

The Alliance of Science Organisations in Germany stands in solidarity with Israel.

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Solidarity with Ukraine

The Alliance of Science Organisations in Germany draws consequences for academia.

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The Halle Spirit

We provide independent research on economic topics that really matter and aim to enrich society with facts and evidence-based insights that facilitate better economic decisions. We focus on growth and productivity because we are convinced that economic prosperity enables people to lead happier lives. We provide young researchers a nurturing place to develop their competencies and to make the most of their skills. Working in flat hierarchies, we are driven by open-minded intellectual curiosity and we have the courage to share inconvenient insights.

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Press Releases

12.03.2024 • 8/2024

Risk in the banking sector: four out of ten top supervisors come from the financial industry

Professor Michael Koetter, PhD
Abstract

Europe's banks realise excess returns on the stock market when their alumni join the boards of national supervisory authorities. A study by the Halle Institute for Economic Research (IWH) shows that this happens more frequently than previously recognised. The findings indicate a risk to financial stability and call for a more merit-based, transparent appointment of senior regulators.

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11.03.2024 • 7/2024

IWH-Insolvenztrend: Zahl der Firmenpleiten steigt im Februar deutlich

Professor Dr Steffen Müller
Abstract

Die Zahl der Insolvenzen von Personen- und Kapitalgesellschaften klettert im Februar auf den höchsten Wert seit Beginn der Erhebung durch das Leibniz-Institut für Wirtschaftsforschung Halle (IWH) im Jahr 2016. Rekordwerte sind vor allem im Süden Deutschlands zu verzeichnen.

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07.03.2024 • 6/2024

Germany stuck in stagnation ‒ private consumption remains below pre-pandemic levels

Professor Dr Oliver Holtemöller
Abstract

Weak consumption and investment in Germany are partly due to inflation-induced losses in real income and declines in energy-intensive production. However, concerns about the competitive strength of the German economy are also weighing on the willingness of private households and companies to spend. In its spring forecast, the Halle Institute for Economic Research (IWH) expects gross domestic product to expand by just 0.2% in 2024, while the forecast for 2025 includes growth of 1.5% (eastern Germany: 0.5% and 1.4%). Last December, the IWH forecast had assumed an increase of 0.5% for Germany in 2024 and of 1.2% for 2025.

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27.02.2024 • 5/2024

Presseeinladung zur Konferenz: „Eine CO2-neutrale Zukunft: Wie kann das funktionieren?“ am 6. März 2024 am IWH

Abstract

Kriege, Wirtschaftsflaute und gesellschaftliche Polarisierung setzen die grüne Transformation unter Druck. Wie sie dennoch gelingen kann, diskutiert eine Konferenz am Leibniz-Institut für Wirtschaftsforschung Halle (IWH) mit Gästen aus Wissenschaft, Politik und Industrie. Es sprechen unter anderem Julia Schlenz, Präsidentin von Dow Deutschland, Österreich und Schweiz, sowie Sven Giegold, Staatssekretär im Bundeswirtschaftsministerium.

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Veranstaltung
26
Mar 2024

14:15 - 15:45

IWH Research Seminar

Optimal Climate Policy as if the Transition Matters

Frank Venmans  London School of Economics
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