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near less active lenders shifted to fintechs and other distant lenders, resulting in delays receiving credit but only …
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. Second, borrowers using a nearby bank get credit sooner, particularly if the bank is a more active PPP lender. Third, census … lending from Fintechs offset some of the decline in credit from local banks. The results highlight that despite PPP loan …
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We revisit the role of temporary layoffs in the business cycle, motivated by their unprecedented surge during the pandemic recession. We first measure the contribution of temporary layoffs to unemployment dynamics over the period 1979 to the present. While many have emphasized a stabilizing...
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