Buchheim, Lukas; Krolage, Carla; Link, Sebastian - 2020
declined and business uncertainty increased only when the spread of the COVID-19 pandemic led to domestic policy changes: The …COVID-19 hit firms by surprise. In a high frequency, representative panel of German firms, the business outlook … measures, even if they relied on inputs from China or Italy. The local, county-level spread of COVID-19 cases affected …