IDEAS home Printed from https://ideas.repec.org/a/ces/ifosdt/v74y2021i03p03-25.html
   My bibliography  Save this article

The Post-Covid-19 Economy: What Unexpected Traces Does the Crisis Leave Behind in Industries, Regions, and Structures?

Author

Listed:
  • Klaus-Heiner Röhl
  • Joachim Ragnitz
  • Ulrich Walwei
  • Timo Wollmershäuser
  • Justus Haucap
  • Jarko Fidrmuc
  • Florian Horky
  • Philipp Reichle
  • Fabian Reck
  • Birgit Felden

Abstract

The coronavirus crisis and the ongoing lockdown are likely to permanently change the structure of the German economy, at least in some areas. The organization of work has shifted in the direction of working from home; online retail is showing high growth rates, while stationary specialist retail is suffering heavy losses. The lockdown has also seen massive declines in customer-facing services such as catering, tourism, and the cultural and leisure sectors. The longer the lockdown and the disruptions continue, the more likely it is that there will be lasting structural damage to the economy. What are the consequences for the labor market? Will regional disparities in Germany increase?

Suggested Citation

  • Klaus-Heiner Röhl & Joachim Ragnitz & Ulrich Walwei & Timo Wollmershäuser & Justus Haucap & Jarko Fidrmuc & Florian Horky & Philipp Reichle & Fabian Reck & Birgit Felden, 2021. "The Post-Covid-19 Economy: What Unexpected Traces Does the Crisis Leave Behind in Industries, Regions, and Structures?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(03), pages 03-25, March.
    • Handle: RePEc:ces:ifosdt:v:74:y:2021:i:03:p:03-25
    as

    Download full text from publisher

    File URL: https://www.ifo.de/DocDL/sd-2021-03-roehl-etal-corona-strukturwandel.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Valesca Lima, 2019. "Towards an understanding of the regional impact of Airbnb in Ireland," Regional Studies, Regional Science, Taylor & Francis Journals, vol. 6(1), pages 78-91, January.
    2. Berger, Thor & Chen, Chinchih & Frey, Carl Benedikt, 2018. "Drivers of disruption? Estimating the Uber effect," European Economic Review, Elsevier, vol. 110(C), pages 197-210.
    3. Petra Schneider & Lukas Folkens & Andreas Meyer & Tino Fauk, 2019. "Sustainability and Dimensions of a Nexus Approach in a Sharing Economy," Sustainability, MDPI, vol. 11(3), pages 1-19, February.
    4. Bańbura, Marta & Giannone, Domenico & Lenza, Michele, 2015. "Conditional forecasts and scenario analysis with vector autoregressions for large cross-sections," International Journal of Forecasting, Elsevier, vol. 31(3), pages 739-756.
    5. Bedre-Defolie, Özlem & Nitsche, Rainer, 2020. "When Do Markets Tip? An Overview and Some Insights for Policy," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 11(10), pages 610-622.
    6. Sheth, Jagdish, 2020. "Impact of Covid-19 on consumer behavior: Will the old habits return or die?," Journal of Business Research, Elsevier, vol. 117(C), pages 280-283.
    7. Hanna Halaburda & Bruno Jullien & Yaron Yehezkel, 2020. "Dynamic competition with network externalities: how history matters," RAND Journal of Economics, RAND Corporation, vol. 51(1), pages 3-31, March.
    8. Pasquale Commendatore & Saime Kayam & Ingrid Kubin (ed.), 2015. "Complexity and Geographical Economics," Dynamic Modeling and Econometrics in Economics and Finance, Springer, edition 127, number 978-3-319-12805-4, July-Dece.
    9. Kassoum Ayouba & Marie-Laure Breuillé & Camille Grivault & Julie Le Gallo, 2020. "Does Airbnb Disrupt the Private Rental Market? An Empirical Analysis for French Cities," International Regional Science Review, , vol. 43(1-2), pages 76-104, January.
    10. Henger, Ralph M. & Oberst, Christian, 2019. "Immer mehr Menschen verlassen die Großstädte wegen Wohnungsknappheit," IW-Kurzberichte 20/2019, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    11. Timo Wollmershäuser & Marcell Göttert & Christian Grimme & Stefan Lautenbacher & Robert Lehmann & Sebastian Link & Manuel Menkhoff & Sascha Möhrle & Ann-Christin Rathje & Magnus Reif & Pauliina Sandqv, 2020. "ifo Economic Forecast Winter 2020: The Coronavirus Strikes Back – Another Lockdown Slows the Economy for a Second Time," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(Sonderaus), pages 03-61, December.
    12. Joachim Ragnitz, 2020. "Long-term Economic Impact of the Coronavirus Pandemic," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(11), pages 25-30, November.
    13. Mona Förtsch & Xenia Frei & Anna Kremer & Joachim Ragnitz, 2021. "Regional Risk and Resilience Factors – An Analysis for Germany," ifo Dresden Studien, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 86.
    14. Remo Nitschke, 2021. "The Burden of Corona Debt - What Burdens Will Federal State Budgets Face in the Coming Years?," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 28(01), pages 03-09, February.
    15. Da Silva, António Dias & Dossche, Maarten & Dreher, Ferdinand & Foroni, Claudia & Koester, Gerrit, 2020. "Short-time work schemes and their effects on wages and disposable income," Economic Bulletin Boxes, European Central Bank, vol. 4.
    16. Klaus-Heiner Röhl & Gerit Vogt, 2020. "Unternehmensinsolvenzen: Corona-Krise verstört [Corporate insolvencies: Corona crisis disturptions]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(5), pages 384-386, May.
    17. Justus Haucap, 2021. "Plattformökonomie und Wettbewerb," Springer Books, in: Peter Kenning & Andreas Oehler & Lucia A. Reisch (ed.), Verbraucherwissenschaften, edition 2, pages 423-452, Springer.
    18. Hanna Halaburda & Bruno Jullien & Yaron Yehezkel, 2020. "Dynamic competition with network externalities: how history matters," RAND Journal of Economics, RAND Corporation, vol. 51(1), pages 3-31, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jennifer Gossen & Fabian Reck, 2021. "The End of the Sharing Economy? Impact of COVID-19 on Airbnb in Germany," Economic Research Guardian, Weissberg Publishing, vol. 11(2), pages 255-269, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yannis Bakos & Hanna Halaburda, 2022. "Overcoming the Coordination Problem in New Marketplaces via Cryptographic Tokens," Information Systems Research, INFORMS, vol. 33(4), pages 1368-1385, December.
    2. Kevin J. Boudreau, 2021. "Promoting Platform Takeoff and Self-Fulfilling Expectations: Field Experimental Evidence," Management Science, INFORMS, vol. 67(9), pages 5953-5967, September.
    3. Tedds, Lindsay M. & Cameron, Anna & Khanal, Mukesh & Crisan, Daria, 2021. "Why Existing Regulatory Frameworks Fail in the Short-term Rental Market: Exploring the Role of Regulatory Fractures," MPRA Paper 106712, University Library of Munich, Germany.
    4. Kevin J. Boudreau & Lars Bo Jeppesen & Milan Miric, 2022. "Competing on freemium: Digital competition with network effects," Strategic Management Journal, Wiley Blackwell, vol. 43(7), pages 1374-1401, July.
    5. Jullien, Bruno & Pavan, Alessandro & Rysman, Marc, 2021. "Two-sided Markets, Pricing, and Network Effects," TSE Working Papers 21-1238, Toulouse School of Economics (TSE).
    6. Jullien, Bruno & Sand-Zantman, Wilfried, 2021. "The Economics of Platforms: A Theory Guide for Competition Policy," Information Economics and Policy, Elsevier, vol. 54(C).
    7. Jay Pil Choi & Christodoulos Stefanadis, 2022. "Network Externalities, Dominant Value Margins, And Equilibrium Uniqueness," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(4), pages 1805-1827, November.
    8. Reichle, Philipp & Fidrmuc, Jarko & Reck, Fabian, 2023. "The sharing economy and housing markets in selected European cities," Journal of Housing Economics, Elsevier, vol. 60(C).
    9. Adachi, Takanori & Tremblay, Mark J., 2020. "Business-to-business bargaining in two-sided markets," European Economic Review, Elsevier, vol. 130(C).
    10. Yang Xu & Xu Wang & Qiang Zhou, 2023. "Pricing and Quality Strategies in Crowdfunding with Network Externality," Journal of Optimization Theory and Applications, Springer, vol. 196(1), pages 98-125, January.
    11. Dawen Meng & Guoqiang Tian, 2021. "The competitive and welfare effects of long-term contracts with network externalities and bounded rationality," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(1), pages 337-375, July.
    12. Tremblay, Mark J. & Adachi, Takanori & Sato, Susumu, 2023. "Cournot platform competition with mixed-homing," International Journal of Industrial Organization, Elsevier, vol. 91(C).
    13. Yang Geng & Yulin Zhang & Jing Li, 2023. "Two-sided competition, platform services and online shopping market structure," Journal of Economics, Springer, vol. 138(2), pages 95-127, March.
    14. Gary Biglaiser & Jacques Crémer & André Veiga, 2022. "Should I stay or should I go? Migrating away from an incumbent platform," RAND Journal of Economics, RAND Corporation, vol. 53(3), pages 453-483, September.
    15. Sebastian Wai, 2022. "Software quality and backward compatibility in the video game industry," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 49(3), pages 545-570, September.
    16. Guillem Roig, 2021. "Collusive equilibria with switching costs: The effect of consumer concentration," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 30(1), pages 100-121, February.
    17. Jan Frederic Nerbel & Markus Kreutzer, 2023. "Digital platform ecosystems in flux: From proprietary digital platforms to wide-spanning ecosystems," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-20, December.
    18. Morales-Alonso, Gustavo & Núñez, Yilsy M., 2022. "Dragging on multilisting: The reason why home-sharing platforms make long-term rental prices increase and how to fix it," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    19. Caruso, Alberto & Reichlin, Lucrezia & Ricco, Giovanni, 2019. "Financial and fiscal interaction in the Euro Area crisis: This time was different," European Economic Review, Elsevier, vol. 119(C), pages 333-355.
    20. Anastasios Evgenidis & Stephanos Papadamou, 2021. "The impact of unconventional monetary policy in the euro area. Structural and scenario analysis from a Bayesian VAR," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5684-5703, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ces:ifosdt:v:74:y:2021:i:03:p:03-25. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klaus Wohlrabe (email available below). General contact details of provider: https://edirc.repec.org/data/ifooode.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.