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of bankruptcy filings is down by 27 percent year-over-year between January and August. Consumer and business Chapter 7 … and receive relief from the bankruptcy system as they would during a normal recession, and relatively wealthy homeowners … bankruptcy system, especially in the areas hardest-hit by unemployment …
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To explore the impact of COVID on small businesses, we conducted a survey of more than 5,800 small businesses between March 28 and April 4, 2020. Several themes emerged. First, mass layoffs and closures had already occurred – just a few weeks into the crisis. Second, the risk of closure was...
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We study the impact of the minimum wage on firm exit in the restaurant industry, exploiting recent changes in the minimum wage at the city level. We find that the impact of the minimum wage depends on whether a restaurant was already close to the margin of exit. Restaurants with lower ratings...
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