| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15323 |
| DP15323 Estimating SME Failures in Real Time: An Application to the COVID-19 Crisis | |
| Pierre-Olivier Gourinchas; Sebnem Kalemli-Ozcan; Veronika Penciakova; Nick Sander | |
| 发表日期 | 2022-01-26 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We develop a flexible framework for tracking business failures during economic downturns. Our framework combines firm-level data with a model of cost-minimization where firms react to a rich set of shocks and fail if illiquid. After verifying that our methodology approximates past official failure rates, we apply it to the COVID-19 crisis in 11 countries. Absent government support, SME failures would have increased by 6.15 percentage points, representing 3.15 percent of employment. We find little threat to financial stability. Commonly implemented COVID-19 policies saved firms but were costly because funds were directed to firms that could survive without support. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Business failure Covid-19 Bankruptcy Smes |
| URL | https://cepr.org/publications/dp15323-1 |
| 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/545895 |
| 推荐引用方式 GB/T 7714 | Pierre-Olivier Gourinchas,Sebnem Kalemli-Ozcan,Veronika Penciakova,et al. DP15323 Estimating SME Failures in Real Time: An Application to the COVID-19 Crisis. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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