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 … credit shock accounts for lower entry, higher exit, and concentration of exit among young firms during the Great Recession …

output, employment, and firm debt during the Great Recession (2007-2009) in the United States, we find that the credit shock … the drop in output and employment. …, and collateral constraint (credit shock) on firm exit. We find that only the credit shock increases firm exit. This result …

output, employment, and firm debt during the Great Recession (2007-2009) in the United States, we find that the credit shock … the drop in output and employment …, and collateral constraint (credit shock) on firm exit. We find that only the credit shock increases firm exit. This result …

We use firm dynamics statistics on employment by age, entry, exit, and job flows to identify sources of business cycle …, credit, labor wedge, and investment wedge shocks for firm dynamics statistics, we show that (a) productivity shock accounts … for the 1990-91 and 2001 recessions, and (b) productivity and credit shocks jointly account for the 1980-82 and 2007 …

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 … credit shock accounts for lower entry, higher exit, and concentration of exit among young firms during the Great Recession …

have inputs (machinery, labor, space, credit) in place forego potentially large profit opportunities. Frictions in …, the larger the absolute and percentage drop in the employment of a wide variety of inputs. To motivate our model, we … document that such patterns are quite strong in US data, both in terms of employment and rental contracts. For instance, we …

facts about firm dynamics: employment growth is decreasing with size and age; entry rate is pro-cyclical while the exit rate … is countercyclical. For example, in case of advanced economies, 97 per cent of employment creation is by firms between … the ages of 0 and 5 years, while for developing and emerging economies, it is 86 per cent of all employment. Our main …