Di Nola, Alessandro; Kaas, Leo; Wang, Haomin - 2022
While the COVID-19 pandemic had a large and asymmetric impact on firms, many countries quickly enacted massive business … programs in a pandemic recession. We calibrate the stationary equilibrium and the pandemic shock to the U.S. economy, taking …. Much of this reallocation happens in the aftermath of the pandemic episode. While a universal grant reduces the firm exit …