On the cleansing effect of recessions and government policy
Autor(a) principal: | |
---|---|
Data de Publicação: | 2022 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/37765 |
Resumo: | Recessions can have a cleansing effect by encouraging the reallocation of resources from low-productivity firms towards higher-productivity ones. Whether this effect actually occurs is still debated. We contribute to answering this question by providing new evidence. Using a survey of firms matched with administrative data, we trace out the Covid-19 recession's effects across the productivity distribution. Higher-productivity firms are found to have been more successful at maintaining employment, but there was not a rise in exit amongst lower-productivity firms. In line with the theory that support policies offset the cleansing effect of recessions, high-productivity firms are also found to have been less likely to take up government support. |
id |
RCAP_47953a92a317dc0d9c1cd26a84e4bf32 |
---|---|
oai_identifier_str |
oai:repositorio.ucp.pt:10400.14/37765 |
network_acronym_str |
RCAP |
network_name_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository_id_str |
7160 |
spelling |
On the cleansing effect of recessions and government policyCleansing effectCovid-19FirmsPoliciesProductivityRecessions can have a cleansing effect by encouraging the reallocation of resources from low-productivity firms towards higher-productivity ones. Whether this effect actually occurs is still debated. We contribute to answering this question by providing new evidence. Using a survey of firms matched with administrative data, we trace out the Covid-19 recession's effects across the productivity distribution. Higher-productivity firms are found to have been more successful at maintaining employment, but there was not a rise in exit amongst lower-productivity firms. In line with the theory that support policies offset the cleansing effect of recessions, high-productivity firms are also found to have been less likely to take up government support.Veritati - Repositório Institucional da Universidade Católica PortuguesaKozeniauskas, NicholasMoreira, PedroSantos, Cezar2022-05-30T12:22:01Z2022-052022-05-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.14/37765por0014-292110.1016/j.euroecorev.2022.10409785128316624000794037000004info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-16T01:43:51Zoai:repositorio.ucp.pt:10400.14/37765Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:30:45.907335Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
On the cleansing effect of recessions and government policy |
title |
On the cleansing effect of recessions and government policy |
spellingShingle |
On the cleansing effect of recessions and government policy Kozeniauskas, Nicholas Cleansing effect Covid-19 Firms Policies Productivity |
title_short |
On the cleansing effect of recessions and government policy |
title_full |
On the cleansing effect of recessions and government policy |
title_fullStr |
On the cleansing effect of recessions and government policy |
title_full_unstemmed |
On the cleansing effect of recessions and government policy |
title_sort |
On the cleansing effect of recessions and government policy |
author |
Kozeniauskas, Nicholas |
author_facet |
Kozeniauskas, Nicholas Moreira, Pedro Santos, Cezar |
author_role |
author |
author2 |
Moreira, Pedro Santos, Cezar |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Kozeniauskas, Nicholas Moreira, Pedro Santos, Cezar |
dc.subject.por.fl_str_mv |
Cleansing effect Covid-19 Firms Policies Productivity |
topic |
Cleansing effect Covid-19 Firms Policies Productivity |
description |
Recessions can have a cleansing effect by encouraging the reallocation of resources from low-productivity firms towards higher-productivity ones. Whether this effect actually occurs is still debated. We contribute to answering this question by providing new evidence. Using a survey of firms matched with administrative data, we trace out the Covid-19 recession's effects across the productivity distribution. Higher-productivity firms are found to have been more successful at maintaining employment, but there was not a rise in exit amongst lower-productivity firms. In line with the theory that support policies offset the cleansing effect of recessions, high-productivity firms are also found to have been less likely to take up government support. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-05-30T12:22:01Z 2022-05 2022-05-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/37765 |
url |
http://hdl.handle.net/10400.14/37765 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
0014-2921 10.1016/j.euroecorev.2022.104097 85128316624 000794037000004 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
|
_version_ |
1799132030117609472 |