: IMK - The Institute
The IMK was founded in early 2005 to strengthen the macroeconomic perspective both in economic research and in the economic policy debate. The IMK analyses the business cycle on the basis of a coherent macroeconomic modelling framework. In their empirical research the IMK's researchers rely on modern Keynesian economic theory as well as advanced econometric methods.
As an independent research institute the IMK is committed to the standards of academic research. To ensure a high quality of its academic output, the IMK closely cooperates with German and foreign universities and its work is regularly evaluated by an independent scientific council.
The research findings of the IMK are presented at conferences and workshops both in Germany and abroad. They are published in the institute's own publication series, in books, and in peer-reviewed journals. The institute also focuses on economic policy advice. In public tenders for research projects the IMK competes with other research institutions. However, being part of the Hans Böckler Foundation the institute is largely financed by the Foundation. This basic funding ensures a maximum of academic freedom.
Economic policy advice
The IMK is involved in economic policy advice on several fronts. The institute prepares studies for federal ministries. In cooperation with other research institutes the consortium produces a comprehensive forecast for Germany, Europe and the rest of the world as well as policy recommendations every year. In connection with its own forecast the institute also comments on economic policies in Germany and Europe and proposes alternative approaches. Experts from the IMK are regularly invited to hearings of the Bundestag -- especially on fiscal issues. Several regional parliaments of Germany have also used the IMK's expertise.
To support young Keynesian-oriented researchers the institute awards one doctoral scholarship per year to a young scientist, who writes her/his doctoral thesis related to one of the IMK's research projects. Funding extends to a maximum of three years. During this period, the doctoral thesis is under the supervision of a university. The young researchers closely cooperate with the IMK team and regularly report on their progress at internal workshops. In addition the doctoral students can contribute to the IMK's publications and participate in conferences in Germany and abroad. Within the scholarship the doctoral students have the opportunity of additional professional training, such as summer schools. The institute encourages applications from economists, who graduated with honours, have excellent econometric skills and are open to Keynesian theories.
National and international networks
The researchers of the IMK closely cooperate with scholars in Germany and abroad. They are integrated into numerous networks.
The Forum for Macroeconomics and Macroeconomic Policies, which was founded in 1997 and has been managed by the IMK since 2005, organises an annual international conference each October and has recently started an international summerschool for post-graduate and doctoral students. Selected papers presented at the annual conference are published in collections of papers and academic journals. The network is coordinated by a group of three researchers of the IMK as well as professors and scholars from Germany, Austria and Switzerland. In addition the research network cooperates with the Universities of Cambridge, Bilbao and Dijon.
Besides international networks direct cooperation with researchers and institutions plays an important part. Bilateral cooperations exist with the Observatoire Français des Conjonctures Économiques (OFCE) in Paris and the Vienna University of Economics and Business Administration. In addition to project-based cooperations individual researchers are supported through funds from the IMK. The respective studies are usually published as IMK Working Paper or IMK Studies.