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Politicians share responsibility for the risk of their state defaulting

Investors assume higher risks of default when a country is politically unstable or governed by a party at the left or right end of the political spectrum. However, according to findings obtained by Stefan Eichler from the Halle Institute for Economic Research (IWH), the more democratic the country is and the more it is integrated into the global economy, the lower is the impact that such political factors have.

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Education protects from old-age poverty

5
per cent
of new pensioners with university degree will be depending on national basic provision in 2036
Bertelsmann-Stiftung: Entwicklung der Altersarmut bis 2036
14
per cent
of new pensioners without vocational education will be depending on national basic provision in 2036
Bertelsmann-Stiftung: Entwicklung der Altersarmut bis 2036

Press Releases

06.07.2017 • 28/2017

Politicians share responsibility for the risk of their state defaulting

Professor Dr Stefan Eichler
Abstract

Investors assume higher risks of default when a country is politically unstable or governed by a party at the left or right end of the political spectrum. However, according to findings obtained by Stefan Eichler from the Halle Institute for Economic Research (IWH), the more democratic the country is and the more it is integrated into the global economy, the lower is the impact that such political factors have.

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15.06.2017 • 27/2017

IWH stellt Aufsichtsrat neu auf

Abstract

Sabine Freifrau von Schorlemer ist vom Aufsichtsrat des Leibniz-Instituts für Wirtschaftsforschung Halle (IWH) im Rahmen seiner Sitzung am 15.06.2017 zur neuen Vorsitzenden gewählt worden. Sie folgt auf Manfred Maas, der den Vorstandsrat und späteren Aufsichtsrat des Instituts seit 2003 über drei Amtszeiten hinweg geleitet hat.

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15.06.2017 • 26/2017

Ailing banks increase leverage of ailing firms

Professor Michael Koetter, PhD
Abstract

Euro area countries such as Greece and Spain continue to struggle not only with their banks, but also with highly indebted domestic firms. Michael Koetter from the Halle Institute for Economic Research (IWH) and co-authors show the failure to resolve banks’ financial difficulties also prevents debt reduction of over-leveraged firms – and sometimes even contributes to increasing leverage of the weakest firms.

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08.06.2017 • 25/2017

The German Economy: Strong Economic Activity in Germany and in the World

Professor Dr Oliver Holtemöller
Abstract

In the early summer of 2017, economic momentum in the world is quite strong. Important general conditions for the global economy are likely to remain favourable: Interest rates will continue to be low almost everywhere, and low inflationary pressure suggests that there are hardly any constraints from the supply side.

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Stefanie Müller
Stefanie Müller
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Current Publications

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EEA-ESEM Conference 2017

IWH papers presented at the EEA-ESEM Conference from August 21 to August 25, 2017, in Lisboa

  • Daniel Fackler: Wage Losses after Job Displacement: Productivity Depreciations or Lost Firm Rents
  • Chris Jürschik, Lena Tonzer, Matias Ossandon Busch: Macroprudential Instruments and Intra-group Dynamics: The Effects of Reserve Requirements in Brazil

44th Annual Meeting of the European Finance Association

IWH papers presented at the EFA Annual Meeting from August 23 to August 26, 2017, in Mannheim

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29
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Workshops and conferences

3rd IWH-FIN-FIRE Workshop on "Challenges to Financial Stability"

Charles Calomiris (Columbia Business School), Martin Hellwig (Max Planck Institute for Research on Collective Goods, Bonn)
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