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Publikováno v:
In Journal of Economic Dynamics and Control October 2022 143
Publikováno v:
NBER Working Papers; Jun2024, Issue 32508-32589, p1-42, 74p
Autor:
Joonkyu Choi1 joonkyu.choi@frb.gov, Penciakova, Veronika2 veronika.penciakova@atl.frb.org, Saffie, Felipe3 saffieF@darden.virginia.edu
Publikováno v:
Working Papers: U.S. Federal Reserve Board's Finance & Economic Discussion Series. Jul2021, preceding p1-A13. 51p.
We study the effects of financial frictions on firm exit when firms face large liquidity shocks. We develop a simple model of firm cost-minimization that introduces a financial friction that limits firms’ borrowing capacity to smooth temporary shoc
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::90992b4d04ec38093d154fedbb1753a6
The COVID-19 pandemic caused an uncommon recession that required uniquely large and often novel fiscal responses. Government-imposed lockdowns created severe supply bottlenecks in some sectors of the economy, and physical distancing led to dramatic c
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::bfc116510a56234f697e097fb67af255
The trajectory of new business applications and transitions to employer businesses differ markedly during the Great Recession and the COVID-19 recession. Both applications and transitions to employer startups decreased slowly but persistently in the
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::819599a719f109587f4e6163fb960b24
https://hdl.handle.net/10419/244308
https://hdl.handle.net/10419/244308
This paper assesses the prospects of a 2021 time bomb in small and medium-sized enterprises (SME) failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::6e84d0f673e90ba851cd33748366f8b6
https://hdl.handle.net/10419/244309
https://hdl.handle.net/10419/244309
Using American Recovery and Reinvestment Act (ARRA) data, we show that firms lever their political connections to win stimulus grants and that public expenditure channeled through politically connected firms hinders job creation. We build a unique da
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::94c96cf89c87d2a46f0433d7573f712d
https://hdl.handle.net/10419/244316
https://hdl.handle.net/10419/244316
We estimate the impact of the COVID-19 crisis on business failures among small and medium-size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost minimization and measure eac
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::ab2eabdcf8170fca6bacefc1d627bf7d
https://hdl.handle.net/10419/244302
https://hdl.handle.net/10419/244302