This article places the current economic stagnation in Germany in the context of previous crises since 1991. In terms of depth, the current macroeconomic crisis, resulting from the pandemic and geopolitical upheavals, has already exceeded the level of all three previous crises, in some cases...

The lasting economic impact of the coronavirus 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...

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...