Macroeconomic Analyses and Forecasts

The research group comprises all macroeconomic analyses, forecasts and policy papers that are carried out on a regular basis at the IWH. These reports contribute significantly to the IWH being one of the leading economic research institutes in Germany. The group focuses on current macroeconomic perspectives in Germany. However, forecasts for an open economy like the German one have to start from thorough and up-to-date analysis of the world economy. Special attention is given to East Germany, Central European countries, and to the European Union as a whole.

Research in this group is linked closely to other projects within the cluster that focus on publishing research papers in refereed journals. In particular, econometric tools developed by Research Group Econometric Tools for Macroeconomic Forecasting and Simulation are applied for the macroeconomic projections, and policy conclusions derived by Research Group Monetary Aggregates, Asset Prices and Real Outcomes are important building blocks for policy recommendations.

IWH Data Project: IWH Macrometer: Macroeconomic Database for the German Länder, East and West Germany

All of the group’s macroeconomic analyses, forecasts and policy papers are available via the Current Forecasting section.

Research Cluster
Macroeconomic Dynamics and Stability

Your contact

Dr Axel Lindner
Dr Axel Lindner
Mitglied - Department Macroeconomics
Send Message +49 345 7753-703

EXTERNAL FUNDING

01.2017 ‐ 12.2017

Flash Estimate of the Quarterly GDP in Germany

Verlagsgruppe Handelsblatt

Dr Katja Heinisch

07.2013 ‐ 06.2016

Joint Economic Forecast

Federal Ministry for Economic Affairs and Energy (BMWI)

The joint economic forecast is an instrument for evaluating the overall economic situation and development in Germany, the euro area and the rest of the world. For this purpose, forecasts of economic activity are generated for the global economy and its major regions. Economic policy recommendations are derived from these forecasts for the euro area and the German economy. The objective of the joint diagnosis, which is commissioned by the Federal Finance Ministry, is to produce a uniform evaluation by all participating institutes. The results are published twice a year as spring and fall forecasts.

Professor Dr Oliver Holtemöller

12.2015 ‐ 12.2016

Conference “How Can We Boost Competition in the Services Sector?”

European Commission

Professor Dr Oliver Holtemöller

07.2016 ‐ 06.2022

Joint Economic Forecast

Federal Ministry for Economic Affairs and Energy (BMWI)

The joint economic forecast is an instrument for evaluating the overall economic situation and development in Germany, the euro area and the rest of the world. For this purpose, forecasts of economic activity are generated for the global economy and its major regions. Economic policy recommendations are derived from these forecasts for the euro area and the German economy. The objective of the joint diagnosis, which is commissioned by the Federal Finance Ministry, is to produce a uniform evaluation by all participating institutes. The results are published twice a year as spring and fall forecasts.

Professor Dr Oliver Holtemöller

01.2013 ‐ 12.2018

Flash Estimate of the Quarterly GDP in Germany

Verlagsgruppe Handelsblatt

Dr Katja Heinisch

09.2015 ‐ 03.2016

Messung der Elastizität der veranlagten Einkommensteuer in Relation zu den Unternehmens- und Vermögenseinkommen

Federal Ministry of Finance (BMF)

Dr Götz Zeddies

01.2012 ‐ 12.2015

Quarterly Report on the Economy in Saxony-Anhalt

Ministry of Economy, Science and Digitalisation of the State of Sachsen-Anhalt

Professor Dr Oliver Holtemöller

Business Cycle Forecasts and Stress Scenarios

Volkswagen Financial Services AG

Professor Dr Oliver Holtemöller

01.2013 ‐ 12.2015

Ökonomische Wirksamkeit der Konjunktur stützenden finanzpolitischen Maßnahmen der Jahre 2008 und 2009

Federal Ministry of Finance (BMF)

Professor Dr Oliver Holtemöller

Refereed Publications

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On the Risk of a Sovereign Debt Crisis in Italy

Oliver Holtemöller Tobias Knedlik Axel Lindner

in: Intereconomics, forthcoming

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Zu den rentenpolitischen Plänen im Koalitionsvertrag 2018 von CDU, CSU und SPD: Konsequenzen, Finanzierungsoptionen und Reformbedarf

Oliver Holtemöller Christoph Schult Götz Zeddies

in: Zeitschrift für Wirtschaftspolitik, No. 3, 2018

Abstract

In the coalition agreement from February 7, 2018, the new German federal government drafts its public pension policy, which has to be evaluated against the background of demographic dynamics in Germany. In this paper, the consequences of public pensions related policy measures for the German public pension insurance are illustrated using a simulation model. In the long run, the intended extensions of benefits would lead to an increase in the contribution rate to the German public pension insurance of about two and a half percentage points. Referring to pension systems of other countries, we discuss measures in order to limit this increase in the contribution rate.

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Auswirkungen des gesetzlichen Mindestlohns im Handwerk in Sachsen-Anhalt

Hans-Ulrich Brautzsch Birgit Schultz

in: Zeitschrift für Wirtschaftspolitik, No. 2, 2018

Abstract

This paper examines the effects of the minimum wage introduction in Germany in 2015 on the skilled crafts sector in Saxony-Anhalt. Using novel survey data on the skilled crafts sector in Saxony-Anhalt, we examine three questions: (1) How many employees are affected by the minimum wage introduction in the skilled crafts sector in Saxony-Anhalt? (2) What are the effects of the minimum wage introduction? (3) How did firms react to wage increase? We find that about 8 % of all employees in the skilled crafts sector in Saxony-Anhalt are directly affected by the minimum wage introduction. A difference-in-difference estimation reveals no significant employment effects of the minimum wage introduction. We test for alternative adjustment strategies and observe a significant increase of output prices.

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Multidimensional Well-being and Regional Disparities in Europe

Jörg Döpke Andreas Knabe Cornelia Lang Philip Maschke

in: Journal of Common Market Studies, No. 5, 2017

Abstract

Using data from the OECD Regional Well-Being Index – a set of quality-of-life indicators measured at the sub-national level – we construct a set of composite well-being indices. We analyze the extent to which the choice of five alternative aggregation methods affects the well-being ranking of regions. We find that regional inequality in these composite measures is lower than regional inequality in real GDP per capita. For most aggregation methods, the rank correlation across regions appears to be quite high. It is also shown that using alternative indices instead of GDP per capita would only have a small effect on the set of regions eligible for aid from EU Structural Funds. The exception appears to be an aggregation based on how individual dimensions relate to average life satisfaction across regions, which would substantially change both the ranking of regions and which regions would be eligible for EU funds.

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The Research Data Centre of the Halle Institute for Economic Research – Member of the Leibniz Association FDZ-IWH

Cornelia Lang Tim Kuttig

in: Jahrbücher für Nationalökonomie und Statistik, No. 2, 2017

Abstract

The Halle Institute for Economic Research (IWH) was founded in 1992 and operates three research departments: Macroeconomics, Financial Markets, and Structural Change and Productivity. The IWH’s research structure is designed to foster close interplay between micro and macroeconomic research, however it has its roots in the empirical research conducted on the transition from a planned to a market economy, with a particular focus on East Germany.

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Working Papers

Die Learning Economy aus Netzwerkperspektive: Mechanismen und Probleme

Michael Schwartz

in: Jenaer Beiträge zur Wirtschaftsforschung, No. 4, 2006

Abstract

Im Mittelpunkt der gegenwärtigen ökonomischen Entwicklung steht verstärkt Wissen als fundamentale Ressource und Triebkraft wirtschaftlichen Wachstums sowie Lernen als der bedeutendste Prozess. Diese Sichtweise wird durch das theoretische Konstrukt der Learning Economy beschrieben. Die Organisationsform des Netzwerkes gilt dabei als geeignetes Arrangement, um die Teilnahme an Lernprozessen sowie den Zugangs zu einer breiten und diversifizierten Wissensbasis zu gewährleisten. In der vorliegenden Arbeit werden im Rahmen der konzeptionellen Charakteristika der Learning Economy die möglichen Ausprägungen einer aktiven Netzwerktätigkeit, die erfolgsdeterminierenden Mechanismen eines Netzwerkes als auch die mit einem Netzwerkarrangement verbundenen Probleme dargelegt. Es zeigt sich einerseits, dass Netzwerke grundsätzlich einen geeigneten Mechanismus darstellen, um den Notwendigkeiten einer Learning Economy zu begegnen. Andererseits wird ersichtlich, dass die Funktionsfähigkeit von Netzwerken und das Ausschöpfen der vorhandenen Möglichkeiten keinesfalls ohne konstante Anstrengungen der Partner und ein detailliertes Verständnis der zentralen Wirkungszusammenhänge erreicht werden kann. Daher ist die zum Teil euphorisch praktizierte Netzwerkdiskussion in mancher Hinsicht differenziert zu betrachten. Besonders der Abfluss ökonomisch sensiblen Wissens, der nicht-wechselseitige Wissensaustausch sowie die Abschottung bestimmter regionaler Netzwerkstrukturen können schwerwiegende Folgen nach sich ziehen.

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