Search Results

Showing results 1 to 1 of approximately 1.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:slow recovery 

Working Paper
Firm Entry and Employment Dynamics in the Great Recession

The 2007-2009 recession is characterized by: a large drop in employment, an unprecedented decline in firm entry, and a slow recovery. Using confidential firm-level data, I show that financial constraints reduced employment growth in small relative to large firms by 4.8 to 10.5 percentage points. The effect of financial constraints is robust to controlling for aggregate demand and is particularly strong in small young firms. I show in a heterogeneous firms model with endogenous firm entry and financial constraints that a large financial shock results in a long-lasting recession caused by a ...
Finance and Economics Discussion Series , Paper 2014-56

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

E24 1 items

E32 1 items

E44 1 items

G01 1 items

J20 1 items

L25 1 items

show more (1)

FILTER BY Keywords

Employment 1 items

financial crisis 1 items

financial friction 1 items

firm entry 1 items

slow recovery 1 items

small business 1 items

show more (2)

PREVIOUS / NEXT