This paper models the immediate impact of the COVID-19 pandemic on Irish SMEs and extrapolates forward their performance as restrictions ease. Our baseline scenario shows a steady recovery path for the median firm. However, indicators of financial difficulties remain persistently high with the...

Government subsidies have been one of the main policy instruments used to deal with the economic effects of the COVID-19 pandemic. This study investigated the impact of spatial dependence on the take-up rate of local government subsidies in 2020. It focused on a specific sub-population of firms...

Following the massive impact of the Covid-19 pandemic on the global economy and on small and medium-sized enterprises (SMEs) in particular, the concept of resilience has experienced a renaissance. As an organizational concept, business model resilience describes the extent to which an...

This study empirically investigated the factors affecting firms' ability to adjust production in response to the COVID-19 outbreak. This study used firm-level survey data from the Enterprise Survey implemented by the World Bank Group, including a standard Enterprise Survey (Baseline) and two...

Since the first quarter of 2020, micro, small, and medium-sized enterprises (MSMEs) in developing countries have faced significant hardship due to the economic shocks related to the COVID-19 pandemic. Questions arise, however, regarding the extent to which MSMEs' hardship has varied between...

Soon after the outbreak of the COVID-19 pandemic, many governments began extending financial and other forms of support to micro, small, and medium enterprises (MSMEs) and their workers because smaller firms are more vulnerable to negative shocks to their supply chain, labor supply, and final...

Soon after the outbreak of the COVID-19 pandemic, many governments began extending financial and other forms of support to micro, small, and medium-sized enterprises (MSMEs) and their workers because smaller firms are more vulnerable to negative shocks to their supply chain, labor supply, and...

The COVID-19 pandemic has been a widespread and prolonged disruption to life in the U.S. since a national emergency was declared on March 13, 2020. Small businesses saw substantial revenue declines in the initial months. Expenses also declined commensurately, reflecting lower revenues as well as...

Credit guarantees are popular policy responses during crises. Despite their prevalence, evidence of their effectiveness is sparse. We estimate the impacts of UK guarantees implemented during the Great Recession, by exploiting unexpected firm-size eligibility restrictions. We use a...