substantially reduced innovation expenditure not only in the first year of the pandemic (2020) but also in the two subsequent years …, indicating ’Long–Covid’ effects on innovation. In 2020, innovation expenditure fell by 4.7 % due to the pandemic. In 2022 …, innovation spending was even 5.4 % lower compared to the counterfactual scenario without the pandemic. Firms with higher pre …

partner's economic support policies. Moreover, to the extent that public interventions to fight the pandemic affect financial …

We develop a novel empirical approach to identify the effectiveness of policies against a pandemic. The essence of our … approach is the insight that epidemic dynamics are best tracked over stages, rather than over time. We use a normalization … procedure that makes the pre-policy paths of the epidemic identical across regions. The procedure uncovers regional variation in …

recession implied by the COVID-19 pandemic. Interestingly, even though inflation rates in Germany have been clearly below 2% for …% over the medium term. We investigate how inflation expectations and the impact of the pandemic depend on personal …