Paper Spotlight: The COVID-19 Shock and Equity Shortfall: Firm Level Evidence from Italy
Having learned from the financial crisis, policymakers the world over have reacted to the COVID-19 lockdowns by providing a lot of liquidity, in the form of debt, to the business sector. However, the longer it takes to make a full recovery, the greater is the danger that firms may find themselves not just illiquid in the short-run, but insolvent in the long-run. That is,… Read More »Paper Spotlight: The COVID-19 Shock and Equity Shortfall: Firm Level Evidence from Italy