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Long-term Economic Impact of the Coronavirus Pandemic

Author

Listed:
  • Joachim Ragnitz

Abstract

The discussion about the economic consequences of the coronavirus crisis has so far focused primarily on the more short-term economic effects. However, there is a risk that economic development will also be negatively affected over the longer term. Weaker growth in production potential is to be expected, especially due to the crisis-induced weakness in investment in the economy. At the same time, the sector structures are also likely to change. Some industries that are severely affected at the moment, such as tourism or gastronomy, are likely to recover relatively quickly once the demand-side restrictions are lifted, but production capacities in industry might be eliminated permanently.

Suggested Citation

  • 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.
    • Handle: RePEc:ces:ifosdt:v:73:y:2020:i:11:p:25-30
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    Citations

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    Cited by:

    1. 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.
    2. Joachim Ragnitz, 2020. "Impact of the Corona Pandemic on Regional Labor Markets," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 27(06), pages 03-08, December.
    3. Bischoff, Ivo & Diemert, Dörte & Döring, Thomas & Eckardt, Martina & Eltges, Markus & Färber, Gisela & Göppert, Verena & Wohltmann, Matthias & Zademach, Hans-Martin, 2021. "Kommunalfinanzen in und nach der Covid-19-Pandemie," Positionspapier aus der ARL 126, ARL – Akademie für Raumentwicklung in der Leibniz-Gemeinschaft.
    4. Florian Dorn & Janos Gabler & Hans-Martin von Gaudecker & Andreas Peichl & Tobias Raabe & Klara Röhrl, 2020. "Wenn Menschen (keine) Menschen treffen: Simulation der Auswirkungen von Politikmaßnahmen zur Eindämmung der zweiten Covid-19-Welle," ifo Schnelldienst Digital, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 1(15), November.

    More about this item

    Keywords

    Entwicklung; Produktionspotenzial; Strukturwandel; Epidemie;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts

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