Policy Article
The Corona Crisis in Hamburg and Schleswig-Holstein: Interim Results
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Labor Market
Economic & Financial Crises
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Germany
The study, which was prepared as part of the joint project "Northern Germany and the Corona Crisis: Economic Consequences and Economic Policy Response" by the Kiel Institute for the World Economy (IfW) and NORDAKADEMIE Hochschule der Wirtschaft, deals with the economic consequences of the Corona crisis for Hamburg and Schleswig-Holstein. The authors provide an overview of the impact of the pandemic and pandemic response on economic output and employment in the two states over the course of 2020, analyzing developments in individual sectors and identifying "winners" and "losers" from the crisis. The support programs of the federal government as well as Hamburg and Schleswig-Holstein are presented and evaluated, with a mixed record in the first 11 months of the Corona crisis. In view of the shortcomings of the existing programs, the aid mechanism of the "Kiel Model of Corporate Stabilization Grants" designed by the IfW is presented as an economic policy alternative.
