| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15834 |
| DP15834 Will Schumpeter Catch Covid-19? | |
| Mathieu Cros; Anne Epaulard; Philippe Martin | |
| 发表日期 | 2021-02-22 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We estimate the factors predicting firm failures in the COVID crisis based on French data in 2020. Although the number of firms filling for bankruptcy was much below its normal level (- 36% compared to 2019) the same factors that predicted firm failures (primarily productivity and debt) in 2019 are at work in a similar way as in 2020. Hence, the selection process, although much reduced, has not been distorted in 2020. At this stage, partial hibernation rather than zombification characterises the selection into firm survival or failure. We also find that the sectoral heterogeneity of the turnover COVID shock (proxied by the change in credit card transactions) has been largely (but not fully) absorbed by public policy support because it predicts little of the probability of bankruptcy at the firm level. Finally, we sketch some potential scenarios for 2021-2022 for different sectors based on our empirical estimates of predictors of firm failures. |
| 主题 | Macroeconomics and Growth |
| URL | https://cepr.org/publications/dp15834 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544831 |
| 推荐引用方式 GB/T 7714 | Mathieu Cros,Anne Epaulard,Philippe Martin. DP15834 Will Schumpeter Catch Covid-19?. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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