Die Unsicherheit verändert alles: Die Zukunft der Globalisierung

Dalia Marin

Zeitschrift für Wirtschaftspolitik, 2022, vol. 71, issue 3, 232-235

Abstract: The COVID-pandemic is an unprecedented uncertainty shock. The increased uncertainty made global supply chains more vulnerable and costly. At the same the financing costs of a robot relative to hourly wages declined substantially when central banks reduced interest rates to fight the crisis. The pandemic is expected to lead to de-globalization with supply chains declining by 35 percent. I then discuss whether governments should intervene to help firms navigate the crisis.

Date: 2022
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DOI: 10.1515/zfwp-2022-2084

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