Paper Spotlight: Public Firm Borrowers of the U.S. Paycheck Protection Program
The Paycheck Protection Program (PPP), with over $500 billion distributed over a few months in 2020, was one of the largest stimulus programs in U.S. history. The program was created to help “small businesses” survive the COVID-19 shock. However, in a forthcoming RCFS paper, “Public Firm Borrowers of the U.S. Paycheck Protection Program,” Anna Cororaton and Samuel Rosen document that nearly half of U.S. public firms were eligible for the… Read More »Paper Spotlight: Public Firm Borrowers of the U.S. Paycheck Protection Program