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 …

the Euro Area to assess the macroeconomic consequences of a labor supply shock. Our model incorporates health status in … calibrate the model for the case of Portugal and the rest of the Euro Area. Our simulations show that a labor supply shock … that if the labor supply shock affects both economies, the negative income effect dominates the decreased demand effect for …