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hal.structure.identifierBordeaux Imaging Center [BIC]
dc.contributor.authorCros, Mathieu
hal.structure.identifierLaboratoire d'Economie de Dauphine [LEDa]
dc.contributor.authorEpaulard, Anne
hal.structure.identifierSciences-Po
dc.contributor.authorMartin, Philippe
HAL ID: 18451
ORCID: 0000-0002-6487-3762
dc.date.accessioned2021-05-03T10:13:12Z
dc.date.available2021-05-03T10:13:12Z
dc.date.issued2021
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/21663
dc.language.isoenen
dc.subjectBankruptcyen
dc.subjectCovid-19en
dc.subjectZombie Frimsen
dc.subject.ddc332en
dc.subject.classificationjelG.G3.G33en
dc.titleWill Schumpeter catch COVID-19? Evidence from Franceen
dc.typeDocument de travail / Working paper
dc.description.abstractenWe estimate the factors predicting firm failures in the COVID crisisbased on French data in 2020. Although the number of firms filing forbankruptcy was much below its normal level (-36% compared to 2019)the same factors that predicted firm failures (primarily productivity anddebt) in 2019 are at work in a similar way as in 2020. Hence, the selectionprocess, although much reduced, has not been distorted in 2020. At thisstage, partial hibernation rather than zombification characterises theselection into firm survival or failure. We also find that the sectoralheterogeneity of the turnover COVID shock (proxied by the changein credit card transactions) has been largely (but not fully) absorbedby public policy support because it predicts little of the probability ofbankruptcy at the firm level. Finally, we sketch some potential scenariosfor 2021-2022 for different sectors based on our empirical estimates ofpredictors of firm failures.en
dc.publisher.nameCentre for Economic Policy Researchen
dc.publisher.cityWashington, D.Cen
dc.identifier.citationpages25en
dc.relation.ispartofseriestitleCEPR Discussion papersen
dc.relation.ispartofseriesnumberDP15834en
dc.identifier.urlsitehttps://cepr.org/content/covid-economics-vetted-and-real-time-papers-0#block-block-10en
dc.subject.ddclabelEconomie financièreen
dc.identifier.citationdate2021
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.date.updated2021-05-03T08:36:13Z
hal.identifierhal-03215379*
hal.version1*
hal.author.functionaut
hal.author.functionaut
hal.author.functionaut


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