European Policy Research
In this section you find analyses and commentaries on European (and especially German) economic and fiscal policy. Particular attention is devoted to the institutional development of the EU, above all monetary union, and its individual policy areas.
Talking Point
Migration boom continued in 2014, but calls remain for policy action
Germany was an attractive destination for migrants in 2014 for the fifth year in a row. The net migration balance climbed again by roughly 20% on the year and clearly exceeded the 500,000 mark for the first time since 1992. Roughly 1.4 million persons immigrated to Germany, the second highest total in the last 65 years (1992: 1.5 million). Since the beginning of the sovereign debt crisis in the eurozone in 2010 a net 1.7 million persons have migrated to Germany, so despite a shrinking domestic population the total population has expanded by approximately half a million. [more]
Chart in focus
Research Briefing
The business environment in the eurozone: Why it is worth paying attention to the details
The quality of the business environment is a key driver of countries’ economic development. “Good rules” foster market functioning, increase efficiency, and encourage entrepreneurial activity. The eurozone performs well by international comparison, although differences are found among specific aspects of the business environment, particularly in terms of insolvency rules and credit markets. In recent years, several countries have recorded significant improvements in terms of their business environment, such as Portugal, Slovenia and Latvia. Though at a comparatively high level, Germany is among those countries with less positive momentum in this regard. After all, a good business environment should be conducive to increase investment, such as for instance through the EFSI. Thus looking at the business environment can contribute to the ongoing debate about reforms in Europe. [more]
In focus
European politics: Economic issues taking a backseat
Implementing the EU-Turkey deal in the coming months will be even more challenging following the terror attacks in Brussels. EU summit likely to be postponed to June 29-30 to avoid interference with British EU membership referendum on June 23. Economic policy issues, though important for business and euro-area development, will continue to be sidelined by foreign and security policy. [more]
EU Monitor
Privatisation in the euro area: Governments should grasp opportunities
As a major element on the new reform agenda for Greece stipulated at the latest eurozone summit in Brussels privatisation has become an important issue for the southern European country. However, privatisation should be a topic for other governments in the euro area, too. Privatisation can generate substantial receipts for the public purse, and it opens up the prospect of increased efficiency in the economy. In several countries the potential for privatisations is by no means exhausted. [more]
Current Issue
Focus Germany: Inflation moving higher, despite subdued core inflation
While the core inflation rate has remained relatively stable since 2011 at an average of slightly above 1% yoy the oil price slump is the main reason for the temporary decline in consumer prices at the start of 2015. However, the oil price rise of some 30% since January and the stabilisation of the EUR exchange rate sent the German inflation rate out of negative territory after just one month and then made it accelerate to 0.7% yoy recently. We therefore expect slightly stronger increases in consumer prices of 0.5% this year and 2.0% in 2016. With our forecast the risks are more pronounced to the downside. The oil price might rise more slowly than expected on account of the global oversupply. In addition, the EUR/USD has now stabilised at above 1.10 after hitting its low in mid-April. Our forecast assumes EUR/USD parity by year-end. [more]
German exports; house prices; GDP growth; View from Berlin
German GDP, Wage round in 2016, Chancellor Merkel's asylum policy
Spotlight on Germany
Articles on economic policy appear in the following periodicals: 
Dataflash Eurozone
    European elections 2014
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