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EIB Working Paper 2023/05
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The COVID-19 shock had a strong negative effect on aggregate economic performance, with the average firm taking a hit on sales revenues and financial performance. However, the effects varied from firm to firm. Were already-struggling firms hit hardest, threatening their very survival? Or did the COVID-19 shock disproportionately deter tomorrow’s superstars at the upper end of the distribution, thus sacrificing future growth potential? This paper investigates where the COVID-19 shock hit the firm growth distribution, using graphical techniques and quantile regressions to analyse the full distribution of firm growth rates. We investigate how the COVID-19 shock relates to growth outcomes for four dependent variables: growth of sales, value added, employment, and labour productivity. Our results confirm that COVID-19 policy support reached its intended recipients.
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Keywords
- Antiques & collectables
- Antiques & Collectibles
- Lifestyle, sport & leisure
- thema EDItEUR::W Lifestyle, Hobbies and Leisure::WC Antiques, vintage and collectables
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DOI: 10.2867/551079Editions