GDP shock. This suggests the COVID-19 recession in terms of its impact responses was relatively similar to those that have …We use a UK employer-employee administrative earnings dataset to investigate the response of earnings and hours to … private sector firms show the largest earnings response to recessions. The qualitative patterns of earnings changes across …

credit shock accounts for lower entry, higher exit, and concentration of exit among young firms during the Great Recession …We analyze shocks to productivity, collateral constraint (credit shock), firm operation, and labor disutility in a …. Compared to the productivity shock, the credit and the lockdown shocks generate larger changes in firm entry and exit. The …