While the magnitude and length of the economic crisis brought about by the COVID-19 pandemic cannot be reliably evaluated at this early stage, it is certain that the wide-ranging countermeasures to the pandemic will lead to a severe global recession. The severity of the economic implications are especially grim due to the nature of the shock: demand and supply are both negatively affected in industrialized and emerging countries simultaneously.
The concept of resilience of households, firms and economies describes their ability to prepare for a crisis, find suitable measures during a crisis and adapt to a changed playing field after a crisis.
This project aims to analyze the crisis resilience of German family owned firms during the COVID-19 pandemic. Also, an evaluation of how the German economic policies during the crisis affect the resilience of the economy at large is undertaken.