Market Update: We break down the business implications, market impact, and expert insights related to Market Update: lessons learned from the pandemic – Full Analysis.
Acharya, Viral V., Robert F. Engle, Maximilian Jager, and Sascha Steffen. 2021. “Why Did Bank Stocks Crash during COVID-19?” National Bureau of Economic Research Working Paper 28559.
Autor, David, David Cho, Leland D. Crane, Mita Goldar, Byron Lutz, Joshua Montes, William B. Peterman, David Ratner, Daniel Villar, and Ahu Yildirmaz. 2022a. “An evaluation of the Paycheck Protection Program using administrative payroll microdata.” Journal of Public Economics Vol. 211: 104664.
Autor, David, David Cho, Leland D. Crane, Mita Goldar, Byron Lutz, Joshua Montes, William B. Peterman, David Ratner, Daniel Villar, and Ahu Yildirmaz. 2022b. “The $800 billion paycheck protection program: where did the money go and why did it go there?” Journal of Economic Perspectives Vol. 36, No. 2: 55-80.
Bartik, Alexander W, Marianne Bertrand, Zoë B. Cullen, Edward L. Glaeser, Michael Luca, and Christopher T. Stanton. 2020. “How are small businesses adjusting to COVID-19? Early evidence from a survey.” National Bureau of Economic Research Working Paper 26989.
Bartik, Alexander W., Zoe B. Cullen, Edward L. Glaeser, Michael Luca, Christopher T. Stanton, and Adi Sunderam. 2021. “The Targeting and Impact of Paycheck Protection Program Loans to Small Businesses.” National Bureau of Economic Research Working Paper 27623.
Bates, Thomas W., Kathleen M. Kahle, and Rene M. Stulz. 2009. “Why Do U.S. Firms Hold So Much More Cash than They Used To?” The Journal of Finance Vol. 64, No. 5: 1985-2021.
Black, Lamont, and Lieu Hazelwood. 2012. “The Effect of TARP on Bank Risk-Taking.” International Finance Discussion Papers Vol. 9, No. 4: 790-803.
Board of Governors of the Federal Reserve System. 2022. Availability of Credit to Small Businesses. Report to Congress.
https://www.federalreserve.gov/publications/2022-october-availability-of-credit-to-small-businesses.htm.
Card, David, and Alexandre Mas. 2016. “Introduction: The Labor Market in the Aftermath of the Great Recession.” Journal of Labor Economics Vol. 34, No. S1: S1-S6.
Chodorow-Reich, Gabriel, Olivier Darmouni, Stephan Luck, and Matthew Plosser. 2022. “Bank Liquidity Provision Across the Firm Size Distribution.” Journal of Financial Economics Vol. 144, No. 3: 908-932.
Cole, Rebel A., and Jason Damm. 2020. “How Did the Financial Crisis Affect Small Business Lending in the United States?” The Journal of Financial Research Vol. 43, No. 4: 767-820.
Diamond, Peter A. 1982. “Aggregate Demand Management in Search Equilibrium.” Journal of Political Economy Vol. 90, No. 5: 881-894.
Fairlie, Robert W. 2020. “The Impact of Covid-19 on Small Business Owners: Evidence of Early-Stage Losses from the April 2020 Current Population Survey.” National Bureau of Economic Research Working Paper 27309.
Farrell, Diana, Christopher Wheat, and Carlos Grandet. 2019. “Place Matters: Small Business Financial Health in Urban Communities.” JPMorganChase Institute.
Farrell, Diana, Christopher Wheat, and Chi Mac. 2018. “Growth, Vitality, and Cash Flows: High-Frequency Evidence from 1 Million Small Businesses.” JPMorganChase Institute.
Farrell, Diana, Christopher Wheat, and Chi Mac. 2020a. “Small Business Financial Outcomes during the Onset of COVID-19.” JPMorganChase Institute.
Farrell, Diana, Christopher Wheat, and Chi Mac. 2020b. “Small Business Owner Race, Liquidity, and Survival.” JPMorganChase Institute.
Farrell, Diana, Christopher Wheat, and Chi Mac. 2020c. “Small Business Financial Outcomes during the COVID-19 Pandemic.” JPMorganChase Institute.
Farrell, Diana, Christopher Wheat, Chi Mac, and Bryan Kim. 2020. “Small Business Expenses during COVID-19.” JPMorganChase Institute.
Favara, Giovanni, Janet Gao, and Mariassunta Giannetti. 2021. “Uncertainty, access to debt, and firm precautionary behavior.” Journal of Financial Economics Vol. 141, No. 2: 436-453.
United States Government Accountability Office. 2023. Unemployment Insurance: Estimated Amount of Fraud during Pandemic Likely Between $100 Billion and $135 Billion.
https://www.gao.gov/assets/gao-23-106696.pdf.
Hampstead, John Paul. 2024. “Analysis: SBA disaster loans propped up carriers, prolonged Great Freight Recession.” FreightWaves.
Harford, Jarrad, Sandy Klasa, and William F. Maxwell. 2014. “Refinancing Risk and Cash Holdings.” The Journal of Finance Vol. 69, No. 3: 975-1012.
International Council of Museums (ICOM). 2020. Museums, museum professionals, and COVID-19: Follow up survey.
Kennickell, Arthur B., Myron L. Kwast, and Jonathan Pogach. 2017. “Small Businesses and Small Business Finance during the Financial Crisis and the Great Recession: New Evidence from the Survey of Consumer Finances.” In Measuring Entrepreneurial Businesses: Current Knowledge and Challenges, 291-349. University of Chicago Press.
McLean, David R. 2011. “Share issuance and cash savings.” Journal of Financial Economics Vol. 99, No. 3: 693-715.
Mims, Christopher. 2021. “With Shopify, Small Businesses Strike Back at Amazon.” The Wall Street Journal.
Monga, Vipal. 2021. “Shopify’s Secret Weapon Is Thousands of New Business Owners.” The Wall Street Journal.
Opler, Tim, Lee Pinkowitz, Rene Stulz, and Rohan Williamson. 1999. “The determinants and implications of corporate cash holdings.” Journal of Financial Economics Vol. 52, No. 1: 3-46.
Passalacqua, Andrea, Paolo Angelini, Francesca Lotti, and Giovanni Soggia. 2021. “The Real Effects of Bank Supervision: Evidence from On-Site Bank Inspections.” Temi di discussione (Economic working papers) Number 1349.
Rothstein, Jesse. 2023. “The Lost Generation? Labor Market Outcomes for Post-Great Recession Entrants.” Journal of Human Resources Vol. 58, No. 5: 1452-1479.
Rouse, Cecilia E. 2024. “Lessons for Economists from the Pandemic.” The Reporter, National Bureau of Economic Research.
Siegal, Nina. 2020. “Many Museums Won’t Survive the Virus. How Do You Close One Down?” The New York Times.
Stiglitz, Joseph E., and Andrew Weiss. 1981. “Credit Rationing in Markets with Imperfect Information.” The American Economic Review Vol. 71, No. 3: 393-410.
U.S. Department of the Treasury. 2020. The CARES Act Provides Assistance to Small Businesses.
U.S. Small Business Administration, Office of Inspector General. 2023. COVID-19 Pandemic EIDL and PPP Loan Fraud Landscape.
Wang, Jialan, Jeyul Yang, Benjamin Iverson, and Renhao Jiang. 2021. “Bankruptcy and the COVID-19 Crisis.” Working Paper 21-041, Harvard Business School.
Wheat, Christopher, and Chi Mac. 2021a. “The Paycheck Protection Program: Small Business Balances, Revenues, and Expenses in the Weeks after Loan Disbursement.” JPMorganChase Institute.
Wheat, Christopher, and Chi Mac. 2021b. “Did the Paycheck Protection Program Support Small Business Activity?” JPMorganChase Institute.
Wheat, Christopher, and Chi Mac. 2023. “Cash or credit: small business use of credit cards for cash flow management.” JPMorganChase Institute.
Wilson, Michael, and Amelia Nierenberg. 2020. “We’re Completely Lost’: Coronavirus Hits N.Y. Restaurants.” The New York Times.
