Preserving job matches during the COVID-19 pandemic: firm-level evidence on the role of government aid

Publikation: Working paperForskning

Standard

Preserving job matches during the COVID-19 pandemic : firm-level evidence on the role of government aid. / Bennedsen, Morten; Larsen, Birthe; Schmutte, Ian; Scur, Daniela.

2020.

Publikation: Working paperForskning

Harvard

Bennedsen, M, Larsen, B, Schmutte, I & Scur, D 2020 'Preserving job matches during the COVID-19 pandemic: firm-level evidence on the role of government aid'. https://doi.org/10.13140/RG.2.2.15337.11366

APA

Bennedsen, M., Larsen, B., Schmutte, I., & Scur, D. (2020). Preserving job matches during the COVID-19 pandemic: firm-level evidence on the role of government aid. https://doi.org/10.13140/RG.2.2.15337.11366

Vancouver

Bennedsen M, Larsen B, Schmutte I, Scur D. Preserving job matches during the COVID-19 pandemic: firm-level evidence on the role of government aid. 2020. https://doi.org/10.13140/RG.2.2.15337.11366

Author

Bennedsen, Morten ; Larsen, Birthe ; Schmutte, Ian ; Scur, Daniela. / Preserving job matches during the COVID-19 pandemic : firm-level evidence on the role of government aid. 2020.

Bibtex

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title = "Preserving job matches during the COVID-19 pandemic: firm-level evidence on the role of government aid",
abstract = "We analyze the impact of the COVID-19 pandemic and government policies on firms' aid take-up, layoff and furlough decisions. We collect new survey data for 10,642 small, medium and large Danish firms, and match to government records of all aid-supported furloughed workers during the pandemic as well as administrative accounting data. This is the first representative sample of firms reporting the pandemic's impact on their revenue and labor choices, showing a steep decline in revenue and a strong reported effect of labor aid take-up on lower job separations. Relative to a normal year, 30 percent more firms have experienced revenue declines. Comparing firms' actual layoff and furlough decisions to their reported counterfactual decisions in the absence of aid, we estimate 81,000 fewer workers were laid off and 285,000 workers were furloughed. Our results suggest the aid policy was effective in preserving job matches at the start of the pandemic.",
keywords = "Faculty of Social Sciences, COVID-19, firm survey, aid packages",
author = "Morten Bennedsen and Birthe Larsen and Ian Schmutte and Daniela Scur",
year = "2020",
doi = "10.13140/RG.2.2.15337.11366",
language = "English",
type = "WorkingPaper",

}

RIS

TY - UNPB

T1 - Preserving job matches during the COVID-19 pandemic

T2 - firm-level evidence on the role of government aid

AU - Bennedsen, Morten

AU - Larsen, Birthe

AU - Schmutte, Ian

AU - Scur, Daniela

PY - 2020

Y1 - 2020

N2 - We analyze the impact of the COVID-19 pandemic and government policies on firms' aid take-up, layoff and furlough decisions. We collect new survey data for 10,642 small, medium and large Danish firms, and match to government records of all aid-supported furloughed workers during the pandemic as well as administrative accounting data. This is the first representative sample of firms reporting the pandemic's impact on their revenue and labor choices, showing a steep decline in revenue and a strong reported effect of labor aid take-up on lower job separations. Relative to a normal year, 30 percent more firms have experienced revenue declines. Comparing firms' actual layoff and furlough decisions to their reported counterfactual decisions in the absence of aid, we estimate 81,000 fewer workers were laid off and 285,000 workers were furloughed. Our results suggest the aid policy was effective in preserving job matches at the start of the pandemic.

AB - We analyze the impact of the COVID-19 pandemic and government policies on firms' aid take-up, layoff and furlough decisions. We collect new survey data for 10,642 small, medium and large Danish firms, and match to government records of all aid-supported furloughed workers during the pandemic as well as administrative accounting data. This is the first representative sample of firms reporting the pandemic's impact on their revenue and labor choices, showing a steep decline in revenue and a strong reported effect of labor aid take-up on lower job separations. Relative to a normal year, 30 percent more firms have experienced revenue declines. Comparing firms' actual layoff and furlough decisions to their reported counterfactual decisions in the absence of aid, we estimate 81,000 fewer workers were laid off and 285,000 workers were furloughed. Our results suggest the aid policy was effective in preserving job matches at the start of the pandemic.

KW - Faculty of Social Sciences

KW - COVID-19

KW - firm survey

KW - aid packages

U2 - 10.13140/RG.2.2.15337.11366

DO - 10.13140/RG.2.2.15337.11366

M3 - Working paper

BT - Preserving job matches during the COVID-19 pandemic

ER -

ID: 249298906