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Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
CESifo Working Paper No. 9416
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
This paper examines the effect of national government response measures to Covid-19 on German international capital flows. Analyzing highly disaggregated monthly data from the German balance of payments statistics over the period from January 2019 through January 2021, we find that bilateral financial interactions are negatively affected by stricter containment and closure policies as well as health system policies of a partner country, while German capital flows benefit from a partner’s economic support policies. Moreover, to the extent that public interventions to fight the pandemic affect financial interactions, the adjustment mainly takes place along the intensive margin.
Schlagwörter: 
coronavirus
pandemic
JEL: 
F36
F60
I18
Dokumentart: 
Working Paper
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