Exploiting the differential financing needs across industrial sectors, this paper shows that financing constraints of small businesses in the United States are one of the drivers explaining the unemployment dynamics during the Great Recession. We show that workers in small firms are more likely...

a speech at the C. Peter McColough Roundtable Series on International Economics, Council on Foreign Relations, New York, New York, January 19, 2005, and at the C. Peter McColough Roundtable Series on International Economics, Council on Foreign Relations, New York, New York, on January 19, 2005

a speech before Leadership South Carolina, Greenville, South Carolina