Philosophy

GWS primarily pursues a macroeconomic and econometric research approach. We favour bottom-up models, in which macroeconomic changes result from events in the individual sectors of the economy.

This mesoeconomic approach looks increasingly important, with long-term economic development accompanied by accelerating structural change.

New sectors and products are appearing at breakneck speed, just as old sectors and products decline in importance. Technological innovation and political decisions exert a major effect on this change.

This affects regional economic development just as much as global economic development. Explaining and analysing this structural change is our core activity.

We consider the following principles to be important

A real-life focus

Economic and social questions are analysed scientifically such that we are able to provide specific answers which are applicable in practice.

Transparency

For users, complex analytical instruments are only useful if their mechanisms are visible and comprehensible. For this reason, both GWS’ data set and forecasting model are equipped with special information systems.

Usability

The graphical user interface developed by GWS for the various forecasting models allows various scenarios to be run and analysed on the user’s PC.

Fairness

GWS values fairness and transparency in its dealings with staff and clients.

 

 

 

Interdisciplinarity

The increasing complexity of economic issues often necessitates close collaboration with other academic disciplines.

Openness

Even the best empirical foundations do not help against misevaluations as a result of structural breaks in the future. The forecasting system is therefore able to incorporate knowledge from experts who are occasionally able to anticipate such events.

Empiricism

Theoretical approaches are empirically tested in the individual model equations. The performance of our models as a whole is tested on the basis of historical simulations and continuously updated.

Sustainability

Since November 16, 2016, GWS is registered at the European Eco-Management and Audit Scheme (EMAS). Participation in the environmental management scheme emphasizes our sustainability approach.

New reports or discussion paper, ongoing projects and the latest developments – find out about GWS news here