The lasting economic impact of the COVID-19 pandemic will become apparent in the development of the macroeconomic factors of production – labour, capital, human capital as well as the stock of technical knowledge.
COVID-19 and the Growth Potential
IW-Report
Institut der deutschen Wirtschaft (IW)
The lasting economic impact of the COVID-19 pandemic will become apparent in the development of the macroeconomic factors of production – labour, capital, human capital as well as the stock of technical knowledge.
Changes in behaviour such as a greater acceptance of technology can strengthen potential output permanently. By contrast, negative effects may arise from growing protectionist attitudes or long-lasting uncertainties and “scarring effects”. In any case, the crisis has induced a technology push. This may be intensified if digitisation gains additional support from investments in infrastructure or if the pandemic heralds a renaissance in the natural sciences – with a corresponding impact on human capital and physical capital as well as on technical knowledge. For the time being, it is unclear what the effects of restructuring and secular structural change will be on potential output. How-ever, dangers are lurking in the acceleration of geopolitical tensions, a misunderstanding of technological sovereignty and increasing government interventions, which as a whole could hamper innovation and investment.
Michael Grömling: COVID-19 and the Growth Potential
IW-Report
Institut der deutschen Wirtschaft (IW)
Konjunkturampel: Die deutsche Wirtschaft verharrt in der Stagnation
Für die deutsche Industrie ist keine Trendwende in Sicht – anders als für die Dienstleistungsbranche, schreibt IW-Konjunkturexperte Michael Grömling für die VDI-Nachrichten.
IW
IW-Konjunkturumfrage Frühjahr 2024: Unternehmen sehen keine Erholung in 2024
Die Ergebnisse der IW-Konjunkturumfrage vom Frühjahr 2024 zeigen, dass sich die Geschäftslage der deutschen Unternehmen seit dem Herbst 2023 nicht verbessert hat.
IW