Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/244308 
Year of Publication: 
2021
Series/Report no.: 
Working Paper No. 2021-5
Publisher: 
Federal Reserve Bank of Atlanta, Atlanta, GA
Abstract: 
The trajectory of new business applications and transitions to employer businesses differ markedly during the Great Recession and the COVID-19 recession. Both applications and transitions to employer startups decreased slowly but persistently in the post-Lehman crisis period of the Great Recession. In contrast, during the COVID-19 recession new applications initially declined but have since sharply rebounded, resulting in a surge in applications during 2020. Projected transitions to employer businesses also rise, but this projection is dampened by a change in the composition of applications in 2020 toward applications that are more likely to be nonemployers.
Subjects: 
COVID-19
business failures
liquidity
small business
JEL: 
D2
E65
G33
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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