Kiel Institute for the World Economy
The Kiel Institute (IFW Kiel) is an international center for research in global economic affairs, economic policy consulting, economic education and documentation. The Institute engages especially in creating solutions to urgent problems in global economic affairs. On basis of its research, the Institute advises decision takers in policy, business, and society and informs the broader public about important developments in international economic policy. As a portal to research in global economic affairs, the Kiel Institute has established a network of International Research Fellows that supports the worldwide awareness of the Institute's activities and gives additional research impulses in form of scientific advice, joint research, and teaching stays in Kiel. The Institute lays a special focus on economic education and closely cooperates with the world's largest library in economic and social sciences.
The International Economy and International Economic Policy
Program 1 deals with the causes and consequences of a growing integrated world economy. The unifying research theme aims at a better understanding of the changing roles of certain tasks and skills, sectors, and regions in the structure of output and employment of a dynamic world economy. Specific research projects include the interaction of international trade and investment with growth, the impact of globalization on firm and labor market adjustment, the transitions of economic, political, and cultural variables in the process of long-run development, and the agglomeration and knowledge accumulation across regions.
The Global Division of Labor
Knowledge Creation and Growth
Economic Policies for Sustainable Development
Program 2 focuses on two major aspects of sustainable development, namely global climate and environmental issues and strategies for poverty reduction in developing countries. Since globalization appears to weaken many traditional economic institutions and policy instruments, new policy approaches at both the national and the supra-national level are needed. Specific research projects concentrate on policy fields where the impact of globalization has been particularly strong. Examples include the complex interaction of energy demand, the supply of exhaustible fossil energy and climate goals; the environmental consequences of increasing global trade and investment flows, the role of rural development in reducing poverty, and the allocation and effectiveness of foreign aid.
The Environment and Natural Resources
Poverty Reduction, Equity and Development
Macroeconomic Activity and Policy
Program 3 studies sources and consequences of macroeconomic fluctuations and instability of the financial sector as well as the repercussions of macroeconomic shocks and dysfunctions of financial markets on the welfare system. Topics of particular interest include the effectiveness of monetary policy with imperfect commodity and labor markets; the identification, measurement, and forecasting of risk and volatility in the financial sector in light of the complex structure of interactions between various types of market participants; and the challenges for reform policies in the welfare society arising from changes in macroeconomic structures, demographic shifts, and a closer global economic integration.
Monetary Policy under Market Imperfections
Financial Markets and Macroeconomic Activity
Reforming the Welfare Society