During the last decade, economists and policy makers have extensively discussed what types of firms can exploit external markets by exporting and what happens to domestic firms if external competitors penetrate into the home market. Although both theoretical and empirical studies have been...

This study evaluates anti-contagion and economic policies by conducting a survey on Japanese small business managers' expectations about the pandemic, policies, and firm performance. First, the business suspension request decreased targeted firms' sales by 10 percentage points on top of the...