Balla-Elliott, Dylan; Cullen, Zoë B.; Glaeser, Edward L.; … - 2020
businesses to measure firms' expectations about their re-opening and future demand. A plurality of firms in our sample expect to …, including customers and suppliers. Owners expect demand to be one-third lower than before the crisis through autumn. Firms with … more pessimistic expectations about demand predict a later reopening. Using an instrumental variables strategy, we estimate …