IDEAS home Printed from https://ideas.repec.org/a/ces/ifosdt/v73y2020i11p50-52.html
   My bibliography  Save this article

Unerwünschte Nebenwirkung der Corona-Maßnahmen: Zombies?

Author

Listed:
  • Lukas Arth
  • Klaus Gründler
  • Niklas Potrafke
  • Fabian Ruthardt
  • Jannik Sielmann

Abstract

Deutsche Volkswirte befürchten, dass in der Coronakrise die Zahl der Zombieunternehmen zunimmt. Im aktuellen ifo-FAZ-Ökonomenpanel schätzen 86% der teilnehmenden Ökonom*innen, dass die Zahl der Zombieunternehmen in Deutschland seit März 2020 „eher gestiegen“ oder „stark gestiegen“ ist. Die vorübergehende Aussetzung der Insolvenzantragspflicht und das Kurzarbeitergeld bergen ihrer Ansicht nach das größte Risiko für die Entstehung von Zombieunternehmen.

Suggested Citation

  • Lukas Arth & Klaus Gründler & Niklas Potrafke & Fabian Ruthardt & Jannik Sielmann, 2020. "Unerwünschte Nebenwirkung der Corona-Maßnahmen: Zombies?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(11), pages 50-52, November.
    • Handle: RePEc:ces:ifosdt:v:73:y:2020:i:11:p:50-52
    as

    Download full text from publisher

    File URL: https://www.ifo.de/DocDL/sd-2020-11-arth-etal-oekonomenpanel-zombiefirmen.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Fabiano Schivardi & Enrico Sette & Guido Tabellini, 2022. "Credit Misallocation During the European Financial Crisis," The Economic Journal, Royal Economic Society, vol. 132(641), pages 391-423.
    2. Dan Andrews & Filippos Petroulakis, 2017. "Breaking the Shackles: Zombie Firms, Weak Banks and Depressed Restructuring in Europe," OECD Economics Department Working Papers 1433, OECD Publishing.
    3. Ryan Niladri Banerjee & Boris Hofmann, 2018. "The rise of zombie firms: causes and consequences," BIS Quarterly Review, Bank for International Settlements, September.
    4. Viral V Acharya & Tim Eisert & Christian Eufinger & Christian Hirsch, 2019. "Whatever It Takes: The Real Effects of Unconventional Monetary Policy," The Review of Financial Studies, Society for Financial Studies, vol. 32(9), pages 3366-3411.
    5. Müge Adalet McGowan & Dan Andrews & Valentine Millot & Thorsten BeckManaging Editor, 2018. "The walking dead? Zombie firms and productivity performance in OECD countries," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 33(96), pages 685-736.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Becker, Marco, 2021. "Zombie Companies in the Corona Pandemic or the phenomenon of covertly over-indebted companies in Germany," EconStor Preprints 233101, ZBW - Leibniz Information Centre for Economics.
    2. Klaus Gründler & Justus Mänz & Niklas Potrafke & Fabian Ruthardt, 2021. "Ökonomenpanel: Deutschland nach einem Jahr Corona: Ökonom*innen ziehen eine Zwischenbilanz," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(03), pages 59-62, March.
    3. Becker, Marco, 2021. "Zombie-Unternehmen in der Corona-Pandemie oder Phänomen der verdeckt überschuldeten Unternehmen in Deutschland," EconStor Preprints 233100, ZBW - Leibniz Information Centre for Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Viral V. Acharya & Matteo Crosignani & Tim Eisert & Christian Eufinger, 2024. "Zombie Credit and (Dis‐)Inflation: Evidence from Europe," Journal of Finance, American Finance Association, vol. 79(3), pages 1883-1929, June.
    2. Diana Bonfim & Geraldo Cerqueiro & Hans Degryse & Steven Ongena, 2023. "On-Site Inspecting Zombie Lending," Management Science, INFORMS, vol. 69(5), pages 2547-2567, May.
    3. Álvarez, Laura & García-Posada, Miguel & Mayordomo, Sergio, 2023. "Distressed firms, zombie firms and zombie lending: A taxonomy," Journal of Banking & Finance, Elsevier, vol. 149(C).
    4. Özlem Dursun-de Neef, H. & Schandlbauer, Alexander, 2021. "COVID-19 and lending responses of European banks," Journal of Banking & Finance, Elsevier, vol. 133(C).
    5. Feng, Ling & Lang, Henan & Pei, Tingting, 2022. "Zombie firms and corporate savings: Evidence from Chinese manufacturing firms," International Review of Economics & Finance, Elsevier, vol. 79(C), pages 551-564.
    6. Mingarelli, Luca & Ravanetti, Beatrice & Shakir, Tamarah & Wendelborn, Jonas, 2022. "Dawn of the (half) dead: the twisted world of zombie identification," Working Paper Series 2743, European Central Bank.
    7. Chakrabarti, Prasenjit & Kaur, Jasmeet, 2024. "Zombie-lending during the pandemic in India: Did the Central Bank reduce credit misallocation concerns of forbearance?," Journal of Policy Modeling, Elsevier, vol. 46(1), pages 153-170.
    8. Ricardo Pinheiro Alves & Nuno Tavares & Gabriel Osório de Barros, 2023. "Revisitar as Empresas Zombie em Portugal (2008-2021)," GEE Papers 178, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Oct 2023.
    9. Christian Keuschnigg & Michael Kogler & Johannes Matt, 2022. "Banks, Credit Reallocation, and Creative Destruction," CESifo Working Paper Series 10093, CESifo.
    10. Tuuli, Saara, 2023. "Who funds zombie firms: Banks or non-banks?," Bank of Finland Research Discussion Papers 2/2023, Bank of Finland.
    11. Paolo Fegatelli, 2021. "The one trillion euro digital currency: How to issue a digital euro without threatening monetary policy transmission and financial stability?," BCL working papers 155, Central Bank of Luxembourg.
    12. Altavilla, Carlo & Lemke, Wolfgang & Linzert, Tobias & Tapking, Jens & von Landesberger, Julian, 2021. "Assessing the efficacy, efficiency and potential side effects of the ECB’s monetary policy instruments since 2014," Occasional Paper Series 278, European Central Bank.
    13. Maximilian Göbel & Nuno Tavares, 2022. "Zombie-Lending in the United States: Prevalence versus Relevance," Working Papers REM 2022/0231, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    14. Moritz Schularick, 2021. "Corporate indebtedness and macroeconomic stabilisation from a long-term perspective," ECONtribute Policy Brief Series 024, University of Bonn and University of Cologne, Germany.
    15. Li, Xinyu & Wang, Huacheng & Li, Rong, 2023. "A hidden channel of “blood transfusion”: Internal capital market subsidies and zombie firms," The British Accounting Review, Elsevier, vol. 55(6).
    16. Hartwig, Benny & Lieberknecht, Philipp, 2020. "Monetary policy, firm exit and productivity," Discussion Papers 61/2020, Deutsche Bundesbank.
    17. Simona Malovaná & Josef Bajzík & Dominika Ehrenbergerová & Jan Janků, 2023. "A prolonged period of low interest rates in Europe: Unintended consequences," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 526-572, April.
    18. Barbaro, Bianca & Tirelli, Patrizio, 2021. "Forbearance vs foreclosure in a general equilibrium model," Working Paper Series 2531, European Central Bank.
    19. Clemens Possnig & Andreea Rotu{a}rescu & Kyungchul Song, 2022. "Estimating Dynamic Spillover Effects along Multiple Networks in a Linear Panel Model," Papers 2211.08995, arXiv.org.
    20. Nurmi, Satu & Vanhala, Juuso & Virén, Matti, 2022. "Are zombies for real? Evidence from zombie dynamics," International Journal of Industrial Organization, Elsevier, vol. 85(C).

    More about this item

    Keywords

    Insolvenz; Unternehmen; Epidemie;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ces:ifosdt:v:73:y:2020:i:11:p:50-52. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klaus Wohlrabe (email available below). General contact details of provider: https://edirc.repec.org/data/ifooode.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.