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The Zombification of the Economy? Assessing the Effectiveness of French Government Support During COVID-19 Lockdown

Mattia Guerini (), Lionel Nesta, Xavier Ragot and Stefano Schiavo
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Mattia Guerini: UniBs - Università degli Studi di Brescia = University of Brescia

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Abstract: This paper evaluates the risk of zombification of the French economy during the sanitary crisis, as a result of the unconditional financial support provided to firms by public authorities. We develop a simple theoretical framework based on a partialequilibrium model to simulate the liquidity and solvency stress faced by a large panel of French firms and assess the impact of government support measures. Simulation results suggest that those policies helped healthy but illiquid firms to withstand the shock caused by the pandemic. Moreover, the analysis finds no evidence of a "zombification effect", as government support has not disproportionately benefited less productive companies.

Keywords: Covid-19; Zombie firms; Job-retention schemes; Microsimulation; Policy evaluation. (search for similar items in EconPapers)
Date: 2022
Note: View the original document on HAL open archive server: https://hal.univ-cotedazur.fr/hal-04288928
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Related works:
Journal Article: Zombification of the economy? Assessing the effectiveness of French government support during COVID-19 lockdown (2024) Downloads
Working Paper: The Zombification of the Economy? Assessing the Effectiveness of French Government Support during Covid-19 Lockdown (2024) Downloads
Working Paper: Zombification of the economy? Assessing the effectiveness of French government support during COVID-19 lockdown (2024)
Working Paper: The Zombification of the Economy? Assessing the Effectiveness of French Government Support during Covid-19 Lockdown (2024) Downloads
Working Paper: Zombification of the economy? Assessing the effectiveness of French government support during COVID-19 lockdown (2024)
Working Paper: The Zombification of the Economy? Assessing the Effectiveness of French Government Support during Covid-19 Lockdown (2022) Downloads
Working Paper: The Zombification of the Economy? Assessing the Effectiveness of French Government Support During COVID-19 Lockdown (2022) Downloads
Working Paper: The Zombification of the Economy? Assessing the Effectiveness of French Government Support During COVID-19 Lockdown (2022) Downloads
Working Paper: The Zombification of the Economy? Assessing the Effectiveness of French Government Support During COVID-19 Lockdown (2022) Downloads
Working Paper: The Zombification of the Economy? Assessing the Effectiveness of French Government Support During COVID-19 Lockdown (2022) Downloads
Working Paper: The Zombification of the Economy? Assessing the Effectiveness of French Government Support During COVID-19 Lockdown (2022) Downloads
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