Data and Code for: Did the Paycheck Protection Program Help Small Businesses? Evidence from Commercial Mortgage-Backed Securities
收藏ICPSR2024-01-01 更新2026-04-16 收录
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https://www.openicpsr.org/openicpsr/project/183283/version/V1/view
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资源简介：
In this study, we examine the broader economic effects of the U.S. federal government's Paycheck Protection Program (PPP) by focusing on the performance of securitized commercial mortgages. We provide novel evidence for spillover effects of government interventions in the face of economic crises. We find that the PPP reduced mortgage delinquencies by approximately $36 billion in 2020. The strongest effects occur when PPP funds targeted businesses in areas most affected by COVID-19, where banks overperformed in providing PPP loans, and among mortgages on properties in retail and lodging. Thus, PPP relief to small businesses eased economic distress beyond the labor market. This file contains the code necessary to replicate the results.
提供机构：
Pennsylvania State University; Virginia Polytechnic Institute and State University; National University of Singapore; University of Illinois at Chicago
创建时间：
2024-01-01
