Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/222918
Authors: 
Michelsen, Claus
Clemens, Marius
Hanisch, Max
Junker, Simon
Kholodilin, Konstantin A.
Pagenhardt, Laura
Schlaak, Thore
Year of Publication: 
2020
Citation: 
[Journal:] DIW Weekly Report [ISSN:] 2568-7697 [Volume:] 10 [Year:] 2020 [Issue:] 24/25 [Pages:] 284-290
Abstract: 
The coronavirus recession has left deep marks on the German economy and despite economic policy action, it is likely to heal only slowly. The partial easing of the lockdown and a gradual revival of global value chains are generating positive stimuli, but massive income losses will curb demand for some time to come. The German Federal Government was able to avoid the worst by implementing measures to stabilize the domestic economy, but it can do little to counteract a slump in foreign demand. This decline in foreign demand reflects the devastating effects of the recession on the labor markets of many countries. Overall, economic recovery will be slow in Germany: The German economy cannot compensate for a decline of 9.4 percent in GDP in 2020, even with GDP growth of 3.0 percent in 2021.
Subjects: 
business cycle forecast
ecoomic outlook
JEL: 
E32
E66
F01
Persistent Identifier of the first edition: 
Document Type: 
Article

Files in This Item:
File
Size
125.02 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.