TY  - BOOK
AU  - Bartlett,Robert P,III
AU  - Morse,Adair
ED  - National Bureau of Economic Research.
TI  - Small Business Survival Capabilities and Policy Effectiveness: Evidence from Oakland 
T2  - NBER working paper series
PY  - 2020///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - July 2020; Hardcopy version available to institutional subscribers
N2  - Using unique City of Oakland data during COVID-19, we document that small business survival capabilities vary by firm size as a function of revenue resiliency, labor flexibility, and committed costs. Nonemployer businesses rely on low cost structures to survive 73% declines in own-store foot traffic. Microbusinesses (1-to-5 employees) depend on 14% greater revenue resiliency. Enterprises (6-to-50 employees) have twice-as-much labor flexibility, but face 11%-to-22% higher residual closure risk from committed costs. Finally, inconsistent with the spirit of Chetty-Friedman-Hendren-Sterner (2020) and Granja-Makridis-Yannelis-Zwick (2020), PPP application success increased medium-run survival probability by 20.5%, but only for microbusinesses, arguing for size-targeting of policies
UR  - https://www.nber.org/papers/w27629
UR  - http://dx.doi.org/10.3386/w27629
ER  -