Adjusting to Transitory Shocks: Worker Impact, Firm Channels, and (Lack of) Income Support

All specifications control for vectors of worker and firm characteristics as of 2007. [...] All specifications control for vectors of worker and firm characteristics as of 2007. [...] All specifications control for vectors of worker and firm characteristics as of 2007. [...] All specifications control for vectors of worker and firm characteristics as of 2007. [...] ▶ Firm use of materials declines ▶ Persistent firm productivity declines (labor and TFP) and some relative prices increase Evidence of cleansing due to GFC foreign shocks Firm exit PIA Firm characteristic base Firm size Firm labor Firm TFP Firm TFP Firm TFP (log) productivity (log) L-P (log) ACF (log) Wooldridge (log) GFC firm shock*2009 0.0023 0.0170** 0.0107 0.0088** 0.0106* (0.0020) (0.0080) (0.