DIW focus 6 / 2020
The deployment of a safe and effective vaccine for Covid-19 will be central to lifting containment measures. In a bid to speed up vaccine deployment, governments are entering into ‘Advance Purchase Agreements’ (APAs) with vaccine companies to secure access to vaccine doses. We document and compare the vaccine procurement strategies of the US and the EU. Most notably, we find that both the US and the ...
2020| Jan Malek, Melissa Newham, Jo Seldeslachts, Marcel Wieting
DIW Weekly Report 37 / 2020
The coronavirus pandemic caused a global market crash in the first half of 2020. Following a massive slump of around four percent in the first quarter, global GDP decreased in the second by five percent. Lower rates of new infections, together with far-reaching monetary and fiscal policy measures to dampen the economic impact of the pandemic, ensure that production and the trust of consumers and firms ...
2020| Claus Michelsen, Guido Baldi, Geraldine Dany-Knedlik, Hella Engerer, Stefan Gebauer, Konstantin A. Kholodilin, Sandra Pasch, Malte Rieth
DIW focus 4 / 2020
Already after the financial crisis in 2008/2009 there was a debate on whether elements aiming at sustainable development can be part of the stimulus packages and support the recovery of the economy. Despite the instinct of policy makers to prioritise battle-tested policies during a crisis, significant levels and different types of climate-friendly components were integrated in the 2009 stimulus packages ...
2020| Mats Kröger, Sun Xi, Olga Chiappinelli, Marius Clemens, Nils May, Karsten Neuhoff, Jörn Richstein
SOEPpapers 1099 / 2020
We examine the differential effects of Covid-19 and related restrictions on individuals with dependent children in Germany. We specifically focus on the role of school and day care center closures, which may be regarded as a “disruptive exogenous shock” to family life. We make use of a novel representative survey of parental well-being collected in May and June 2020 in Germany, when schools and day ...
2020| Mathias Huebener, Sevrin Waights, C. Katharina Spiess, Nico A. Siegel, Gert G. Wagner
DIW Weekly Report 32/33 / 2020
The European banking union has so far lacked its third pillar: a joint insurance fund for bank savings deposits. As the present study shows, this could be a major disadvantage in dealing with the economic impact of the corona pandemic. A scenario in which a wave of corporate insolvencies leads to loan and deposit losses reaching six percent over a year would over- whelm Germany’s national deposit insurance ...
2020| Marius Clemens, Stefan Gebauer, Tobias König
SOEPpapers 1098 / 2020
Drawing on data from the Socio-economic Panel (SOEP) for 2018, we use a sample of 2,145 heterosexual couples with children below age 13 to investigate the paternal involvement in domestic childcare and the relation of the underlying mechanisms to the two job-related “Covid-19 factors” systemic relevance (SR) and capacity to work from home (WfH). Based on bi- and trivariate analyses of the intra-couple ...
2020| Christina Boll, Simone Schüller
Diskussionspapiere 1903 / 2020
We investigate how the economic consequences of the pandemic, and of the government-mandated measures to contain its spread, affected the self-employed relative to employed individuals in Germany and, secondly, to what extent the female self-employed were more strongly hit than their male counterparts. For our analysis, we use representative, real-time survey data where respondents are asked about ...
2020| Daniel Graeber, Alexander S. Kritikos, Johannes Seebauer
DIW Weekly Report 23 / 2020
As the coronavirus pandemic spread across the globe in early 2020, the European Central Bank as well as national governments in the euro area enacted or announced numerous economic policy measures to counteract the severe economic consequences of the resulting lockdowns. In this paper, the immediate effect of the announcements on government bond and stock markets are estimated in a panel study. The ...
2020| Kerstin Bernoth, Marius Clemens, Geraldine Dany-Knedlik, Stefan Gebauer
SOEPpapers 1083 / 2020
The corona pandemic and the political measures undertaken to contain it are changing the working conditions of many people in Germany. Based on data from the first tranche of a supplementary survey (SOEP-Cov) to the German Socio-Economic Panel (SOEP), this study analyzes the effects of the corona crisis on Germany’s working population in 2019. In this paper, we investigate how severely people have ...
2020| Carsten Schröder, Theresa Entringer, Jan Goebel, Markus M. Grabka, Daniel Graeber, Martin Kroh, Hannes Kröger, Simon Kühne, Stefan Liebig, Jürgen Schupp, Johannes Seebauer, Sabine Zinn
DIW focus 3 / 2020
To cushion the economic effects of the coronavirus pandemic, central banks have taken far-reaching monetary policy measures. The US Federal Reserve has lowered its interest rates and, like the European Central Bank, has expanded its bond purchase programs. However, it is questionable whether these measures are having the desired effect of calming the markets and supporting the real economy. It is true ...
2020| Kerstin Bernoth, Geraldine Dany-Knedlik, Anna Gibert
DIW Weekly Report 24/25 / 2020
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 ...
2020| Claus Michelsen, Marius Clemens, Max Hanisch, Simon Junker, Konstantin A. Kholodilin, Laura Pagenhardt, Thore Schlaak
DIW Weekly Report 12 / 2020
The ongoing corona pandemic is causing a major shock to the global economy. In the coming months, many countries are expected to suffer severe economic downturns. Sealing off entire regions disrupts supply chains, resulting in production losses and falls in consumption. The global economy is expected to grow by as little as 2.5 percent this year instead of by the 3.7 percent forecasted previously. ...
2020| Claus Michelsen, Guido Baldi, Geraldine Dany-Knedlik, Hella Engerer, Stefan Gebauer, Malte Rieth
Diskussionspapiere 1893 / 2020
Identifying essential and frontline workers and understanding their characteristics is useful for policymakers and researchers in targeting social insurance and safety net policies in response to the COVID-19 crisis. We develop a working definition that may inform additional research and policy discussion and provide data on the demographic and labor market composition of these workers. In a three-step ...
2020| Francine D. Blau, Josefine Koebe, Pamela A. Meyerhofer