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Fiscal Policy in the Age of COVID : Does it ‘Get in all of the Cracks?'

Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - National Bureau of Economic Research - 2021

We study the effects of fiscal policy in response to the COVID-19 pandemic at the firm, sector, country and global level. First, we estimate the impact of COVID-19 and policy responses on small and medium sized enterprise (SME) business failures. We combine firm-level financial data from 50...

Persistent link: https://www.econbiz.de/10012629513

COVID-19 and SME Failures

Gourinchas, Pierre-Olivier - 2020

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 each firm's liquidity shortfall during and after...

Persistent link: https://www.econbiz.de/10012481180

The Impact of Covid-19 on Small Business Owners : Evidence of Early-Stage Losses from the April 2020 Current Population Survey

Fairlie, Robert W. - 2020

Social distancing restrictions and demand shifts from COVID-19 are expected to shutter many small businesses, but there is very little early evidence on impacts. This paper provides the first analysis of impacts of the pandemic on the number of active small businesses in the United States using...

Persistent link: https://www.econbiz.de/10012481503

COVID-19 and SMEs : A 2021 "Time Bomb"?

Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - National Bureau of Economic Research - 2021

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...

Persistent link: https://www.econbiz.de/10012482634

Bankruptcy and Small Firms' Access to Credit

Berkowitz, Jeremy - 2002

In this paper, we investigate how personal bankruptcy law affects small firms' access to credit. When a firm is … to its owner. If the firm fails, the owner has an incentive to file for personal bankruptcy, since the firm's debts will … exemption level, the greater is the incentive to file for bankruptcy. We show that supply of credit falls and demand for credit …

Persistent link: https://www.econbiz.de/10012469703

Life After Death : A Field Experiment with Small Businesses on Information Frictions, Stigma, and Bankruptcy

Bernstein, Shai; Colonnelli, Emanuele; Hoffman, Mitchell; … - National Bureau of Economic Research - 2023

In an RCT with US small businesses, we document that a large share of firms are not well-informed about bankruptcy …. Many assume that bankruptcy necessarily entails the death of a business and do not know about Chapter 11 bankruptcy, where … reform that lowered the costs of bankruptcy procedures to enhance their protection. In addition, they exhibit substantial …

Persistent link: https://www.econbiz.de/10014226130

The Impacts of COVID-19 on Racial Inequality in Business Earnings

Fairlie, Robert W. - National Bureau of Economic Research - 2022

Many small businesses have closed, lost revenues, or downsized as a response to health and economic disruptions caused by COVID-19. But, were economic losses in the pandemic disproportionately felt by businesses owned by people of color? This paper provides the first study of the impacts of...

Persistent link: https://www.econbiz.de/10013435094

Were Small Businesses More Likely to Permanently Close in the Pandemic?

Fairlie, Robert W.; Fossen, Frank M.; Johnsen, Reid L.; … - National Bureau of Economic Research - 2022

Previous estimates indicate that COVID-19 led to a large drop in the number of operating businesses operating early in the pandemic, but surprisingly little is known on whether these shutdowns turned into permanent closures and whether small businesses were disproportionately hit. This paper...

Persistent link: https://www.econbiz.de/10013334502

Measuring and Explaining Management Practices Across Firms and Countries

Bloom, Nick - 2006

We use an innovative survey tool to collect management practice data from 732 medium sized manufacturing firms in the US, France, Germany and the UK. These measures of managerial practice are strongly associated with firm-level productivity, profitability, Tobin's Q, sales growth and survival...

Persistent link: https://www.econbiz.de/10012466452

Business Practices in Small Firms in Developing Countries

McKenzie, David - 2015

Management has a large effect on the productivity of large firms. But does management matter in micro and small firms, where the majority of the labor force in developing countries works? We develop 26 questions that measure business practices in marketing, stock-keeping, record-keeping, and...

Persistent link: https://www.econbiz.de/10012457163