, Education, and Other Services are among the most affected sectors. The jobs at risk due to COVID-19 related SME business …

We develop a model in which, in order to provide managerial incentives, it is optimal to have costly bankruptcy. If … bailouts are costly because they worsen incentives and thereby reduce welfare. We show that regulation in the form of limits on … undertake bailouts. In terms of the cyclical properties of regulation, we show that regulation should be tightest in aggregate …

level. First, we estimate the impact of COVID-19 and policy responses on small and medium sized enterprise (SME) business …

This paper assesses the prospects of a 2021 time bomb in SME failures triggered by the generous support policies …

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 …

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 …

During the global financial crisis, the Reserve Bank of India enacted forbearance measures that lowered capital … assets in India's predominantly state-owned banking system is consistent with accounting subterfuge …