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  1. Were small businesses more likely to permanently close in the pandemic?
    Author: Fairlie, Robert W.; Fossen, Frank M.; Johnsen, Reid; Droboniku, Gentian
    Published: July 2022
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    Previous estimates indicate that COVID-19 led to a large drop in the number of operating businesses operating early in the pandemic, but surprisingly little is known on whether these shutdowns turned into permanent closures and whether small... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Previous estimates indicate that COVID-19 led to a large drop in the number of operating businesses operating early in the pandemic, but surprisingly little is known on whether these shutdowns turned into permanent closures and whether small businesses were disproportionately hit. This paper provides the first analysis of permanent business closures using confidential administrative firm-level panel data covering the universe of businesses filing sales taxes from the California Department of Tax and Fee Administration. We find large increases in closures rates in the first two quarters of 2020, but a strong reversal of this trend in the third quarter of 2020. The increase in closures rates in the first two quarters of the pandemic was substantially larger for small businesses than large businesses, but the rebound in the third quarter was also larger. The disproportionate closing of small businesses led to a sharp concentration of market share among larger businesses as indicated by the Herfindahl-Hirschman Index with only a partial reversal after the initial increase. The findings highlight the fragility of small businesses during a large adverse shock and the consequences for the competitiveness of markets.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/263661
    Series: Discussion paper series / IZA ; no. 15445
    Subjects: small business; entrepreneurship; survival; closures; self-employment; COVID-19; coronavirus; pandemic; shelter-in-place restrictions; social distancing restrictions
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  2. Sales losses in the first quarter of the COVID-19 pandemic
    evidence from California administrative data
    Author: Fairlie, Robert W.; Fossen, Frank M.
    Published: 2021
    Publisher:  Stanford Institute for Economic Policy Research (SIEPR), Stanford, CA

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Stanford Institute for Economic Policy Research (SIEPR) ; no. 21, 005 (January, 2021)
    Subjects: business; entrepreneurship; self-employment; COVID-19; coronavirus; shelter in place restrictions; social distancing restrictions; revenue; sales tax
    Scope: 1 Online-Ressource (circa 22 Seiten), Illustrationen