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and Sweden experience the lowest earnings declines following job displacement, while workers in Italy, Spain, and Portugal …
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often pay a wage premium (or wage cushion) to individual workers. We use administrative data from Portugal, linked to …
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This paper assesses the prospects of a 2021 time bomb in 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 2021 "time-bomb" for SMEs. Rather, business failures and policy costs remain...
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