{"id":8542,"date":"2020-07-09T09:15:04","date_gmt":"2020-07-09T08:15:04","guid":{"rendered":"http:\/\/www.economicsobservatory.com\/ongoing-research\/the-covid-19-bailouts"},"modified":"2020-07-09T09:15:04","modified_gmt":"2020-07-09T08:15:04","slug":"the-covid-19-bailouts","status":"publish","type":"ongoing-research","link":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts","title":{"rendered":"The Covid-19 bailouts"},"content":{"rendered":"<p>US policy makers responded to the Covid-19 epidemic by providing $1.8 trillion in private sector bailouts. We collect data on all bailouts for publicly-listed firms, document empirical facts of the bailout programs and discuss policy implications. More than three quarters of bailout firms have either cash holdings or past dividends and share buybacks larger than their bailouts, suggesting that they might have been able to produce these funds internally. A surprisingly large fraction of the bailout recipients are start-up like firms, for which the bailouts appear to be a windfall. The effective tax rate of bailed out firms is 4%. This is the first paper to collect and analyze data on the Covid-19 bailouts.<\/p>\n<p><\/p>\n","protected":false},"template":"","categories":[],"frequency":[],"type_of_data":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Covid-19 bailouts - Economics Observatory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Covid-19 bailouts - Economics Observatory\" \/>\n<meta property=\"og:description\" content=\"US policy makers responded to the Covid-19 epidemic by providing $1.8 trillion in private sector bailouts. We collect data on all bailouts for publicly-listed firms, document empirical facts of the bailout programs and discuss policy implications. More than three quarters of bailout firms have either cash holdings or past dividends and share buybacks larger than [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts\" \/>\n<meta property=\"og:site_name\" content=\"Economics Observatory\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@econobservatory\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts\",\"url\":\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts\",\"name\":\"The Covid-19 bailouts - Economics Observatory\",\"isPartOf\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#website\"},\"datePublished\":\"2020-07-09T08:15:04+00:00\",\"dateModified\":\"2020-07-09T08:15:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.economicsobservatory.com\/test\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Covid-19 bailouts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#website\",\"url\":\"https:\/\/www.economicsobservatory.com\/test\/\",\"name\":\"Economics Observatory\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.economicsobservatory.com\/test\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#organization\",\"name\":\"Economics Observatory\",\"url\":\"https:\/\/www.economicsobservatory.com\/test\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png\",\"contentUrl\":\"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png\",\"width\":540,\"height\":392,\"caption\":\"Economics Observatory\"},\"image\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/econobservatory\",\"https:\/\/www.linkedin.com\/company\/economics-observatory\/\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Covid-19 bailouts - Economics Observatory","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts","og_locale":"en_GB","og_type":"article","og_title":"The Covid-19 bailouts - Economics Observatory","og_description":"US policy makers responded to the Covid-19 epidemic by providing $1.8 trillion in private sector bailouts. We collect data on all bailouts for publicly-listed firms, document empirical facts of the bailout programs and discuss policy implications. More than three quarters of bailout firms have either cash holdings or past dividends and share buybacks larger than [&hellip;]","og_url":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts","og_site_name":"Economics Observatory","twitter_card":"summary_large_image","twitter_site":"@econobservatory","twitter_misc":{"Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts","url":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts","name":"The Covid-19 bailouts - Economics Observatory","isPartOf":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#website"},"datePublished":"2020-07-09T08:15:04+00:00","dateModified":"2020-07-09T08:15:04+00:00","breadcrumb":{"@id":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-covid-19-bailouts#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.economicsobservatory.com\/test\/"},{"@type":"ListItem","position":2,"name":"The Covid-19 bailouts"}]},{"@type":"WebSite","@id":"https:\/\/www.economicsobservatory.com\/test\/#website","url":"https:\/\/www.economicsobservatory.com\/test\/","name":"Economics Observatory","description":"","publisher":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.economicsobservatory.com\/test\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.economicsobservatory.com\/test\/#organization","name":"Economics Observatory","url":"https:\/\/www.economicsobservatory.com\/test\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/","url":"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png","contentUrl":"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png","width":540,"height":392,"caption":"Economics Observatory"},"image":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/econobservatory","https:\/\/www.linkedin.com\/company\/economics-observatory\/"]}]}},"_links":{"self":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/ongoing-research\/8542"}],"collection":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/ongoing-research"}],"about":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/types\/ongoing-research"}],"version-history":[{"count":0,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/ongoing-research\/8542\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/media?parent=8542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/categories?post=8542"},{"taxonomy":"frequency","embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/frequency?post=8542"},{"taxonomy":"type_of_data","embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/type_of_data?post=8542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}