Zombification in Europe in times of pandemic

Luc Laeven, Glenn Schepens and Isabel Schnabel ()
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Isabel Schnabel: Member of the Executive Board of the European Central Bank; CEPR Research Fellow

No 11, ECONtribute Policy Brief Series from University of Bonn and University of Cologne, Germany

Abstract: Large-scale government and central bank interventions in the context of the COVID-19 crisis have reinvigorated the debate on the threat of a zombification of the economy if unviable firms are kept alive. This column surveys the existing literature and argues that the COVID- 19 crisis is very different from previous experience. It proposes a number of policy actions that can prevent a zombification of the economy.

Pages: 7 pages
Date: 2020-10
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Citations: View citations in EconPapers (24)

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https://www.econtribute.de/RePEc/ajk/ajkpbs/ECONtribute_PB_011_2020.pdf First version, 2020 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ajk:ajkpbs:011

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