We assess the role of banks in the Paycheck Protection Program (PPP), a large and unprecedented smallbusiness support … program instituted as a response to the COVID-19 crisis in the United States. In 2020, the PPP administered more than $525 … heterogeneity in the allocation of PPP loans. Firms that were larger and less affected by the COVID-19 crisis received loans earlier …

The Paycheck Protection Program (PPP) was a large and unprecedented small-business support program that allocated $800 … empirical application of our model, we estimate the PPP's effectiveness and compare it with alternative policies. A policy …

into account the factual Paycheck Protection Program (PPP) as a specific grant policy. We find that the policy has only a …

into account the factual Paycheck Protection Program (PPP) as a specific grant policy. We find that the policy has only a …

extent to which the Paycheck Protection Program (PPP) helped small businesses keep their workforce employed. We find that our … thereafter. In turn, our estimates suggests that the rapid rollout of PPP loans significantly mitigated the negative employment …

Protection Program (PPP), a government stimulus program aimed at small businesses. A one standard deviation increase in exposure … to PPP reduces the effect of the supply shock faced by the firm by approximately one-fifth. These effects exist even when … the importer is not a direct recipient of PPP loans. The effects are largest in counties with larger number of small …

Paycheck Protection Program (PPP) on employment recovery during the COVID-19 pandemic, as estimated by Doniger and Kay (2021 … receiving more PPP funding and more transfers from other pandemic-related assistance programs contributed significantly more to … local economic recovery compared with receiving PPP funds earlier. …

(PPP) loans and their impact. Three main findings emerge. First, firms in better financial condition prior to the COVID … outbreak were advantaged in the allocation of PPP loans. Second, firms' financial condition improved significantly and … identify and estimate the overall effect of the PPP. …

into account the factual Paycheck Protection Program (PPP) as a specific grant policy. We find that the policy has only a …