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Michael Hüther / Hubertus Bardt IW-Policy Paper No. 10 5. May 2020 From the Opening of the Lockdown to New Economic Perspectives

The lockdown measures from 16 and 23rd March respectively to fight the corona epidemic the have widely affected the German economy. First signals for easing the measures were given after the Easter period.

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From the Opening of the Lockdown to New Economic Perspectives
Michael Hüther / Hubertus Bardt IW-Policy Paper No. 10 5. May 2020

From the Opening of the Lockdown to New Economic Perspectives

IW-Policy Paper

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German Economic Institute (IW) German Economic Institute (IW)

The lockdown measures from 16 and 23rd March respectively to fight the corona epidemic the have widely affected the German economy. First signals for easing the measures were given after the Easter period.

In many instances a re-start of the production in companies can be arranged, in some parts there are still prohibitions without a time horizon. Two thirds of companies still experience a strong impact from the corona crisis. The only readily available comparison of the cuts to the economy is, at most, the economic and financial crisis a decade ago. The number of employees in short-time work is significantly higher though, and so is the number of sectors concerned. The short-term economic indicators all fell in record time.

A further extension of the economic stand-still threatens to lead to a dynamic downward trend, which absolutely needs to be avoided. Next to permitting more economic activity and making available the necessary public conditions, such as large-scale testing or organising the opening of schools, we increasingly need to focus on instruments for achieving cyclical stabilisation. The loss of demand for investment good and consumer durables looms large. Furthermore, it will be essential to develop an economic growth programme, which improves the conditions for investment while at the same time supports the structural changes from digitalisation and climate protection.

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From the Opening of the Lockdown to New Economic Perspectives
Michael Hüther / Hubertus Bardt IW-Policy Paper No. 10 5. May 2020

Michael Hüther / Hubertus Bardt: Von der Öffnung des Lockdowns zu neuen wirtschaftlichen Perspektiven

IW-Policy Paper

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German Economic Institute (IW) German Economic Institute (IW)

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