Estimating SME Failures in Real Time

Estimating SME Failures in Real Time
Author: Pierre-Olivier Gourinchas
Publisher:
Total Pages:
Release: 2020
Genre:
ISBN:

We develop a flexible framework for tracking business failures during economic downturns. Our framework combines firm-level data with a model of cost-minimization where firms react to a rich set of shocks and fail if illiquid. After verifying that our methodology approximates past official failure rates, we apply it to the COVID-19 crisis in 11 countries. Absent government support, SME failures would have increased by 6.15 percentage points, representing 3.15 percent of employment. We find little threat to financial stability. Commonly implemented COVID-19 policies saved firms but were costly because funds were directed to firms that could survive without support.

The State as Financier of Last Resort

The State as Financier of Last Resort
Author: Bryn Battersby
Publisher: International Monetary Fund
Total Pages: 37
Release: 2022-10-13
Genre: Business & Economics
ISBN:

During the COVID-19 pandemic and global financial crisis, governments swiftly served as financiers of last resort through large financial support measures (FSMs) such as loan and guarantee programs and equity injections in firms. This Staff Discussion Note argues that such FSMs prevented bankruptcies and attenuated the recession by increasing firms’ liquidity, reducing risk premiums, and boosting confidence. But FSMs also carry large and long-lasting fiscal costs and risks. The note presents recommendations for managing the legacies of the COVID-19 programs and preparing for future crises. Ideally, FSMs should be assessed and included in budget plans, though a balance needs to be struck between speed and scrutiny.

Fiscal Monitor, October 2022

Fiscal Monitor, October 2022
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 100
Release: 2022-10-12
Genre: Business & Economics
ISBN:

The report explores how fiscal policy can foster resilience by protecting households against large income and employment losses. Governments face increasingly difficult trade-offs in tackling the spikes in food and energy prices when policy buffers are largely exhausted after two years of pandemic. They should prioritize protecting vulnerable groups through targeted support while keeping a tight fiscal stance to help reduce inflation. Building fiscal buffers in normal times would allow governments to respond swiftly and flexibly during adversities. Several fiscal tools, such as job-retention schemes, have proven useful to preserve jobs and income for workers. Social safety nets should be made more readily scalable and better targeted, leveraging digital technologies. Exceptional support to firms should be reserved for severe situations and requires sound fiscal risk management.

What Policy Combinations Worked? The Effect of Policy Packages on Bank Lending During COVID-19

What Policy Combinations Worked? The Effect of Policy Packages on Bank Lending During COVID-19
Author: Mr. Divya Kirti
Publisher: International Monetary Fund
Total Pages: 41
Release: 2023-02-03
Genre: Business & Economics
ISBN:

This paper analyzes the impact of fiscal, monetary, and prudential policies during the COVID-19 pandemic on bank lending across a broad sample of countries. We combine a comprehensive announcementlevel dataset of policy actions with bank and firm-level information to analyze the effectiveness of different types of policies. We document that different types of policies were introduced together and hence accounting for policy combinations, or packages, is crucial. Lending grew faster at banks in countries that announced packages combining fiscal, monetary, and prudential measures relative to those that relied on some, but not all, policy dimensions. Within packages including all three types of policy measures, banks in countries with more and larger measures saw faster loan growth. The impact was larger among more constrained banks with low equity levels. Large packages combining fiscal, monetary and prudential policies also increased liquidity for bank dependent firms, but did not disproportionately benefit unviable firms.

Evaluation of Luxembourg's COVID-19 Response Learning from the Crisis to Increase Resilience

Evaluation of Luxembourg's COVID-19 Response Learning from the Crisis to Increase Resilience
Author: OECD
Publisher: OECD Publishing
Total Pages: 250
Release: 2022-11-20
Genre:
ISBN: 9264931813

As countries seek to learn from the COVID-19 crisis and increase their resilience for the future, evaluations are important tools to understand what worked or not, why and for whom. This report is the first of its kind. It evaluates Luxembourg’s responses to the COVID-19 crisis in terms of risk preparedness, crisis management, as well as public health, education, economic and fiscal, and social and labour market policies.

SME Mineral Processing and Extractive Metallurgy Handbook

SME Mineral Processing and Extractive Metallurgy Handbook
Author: Courtney A. Young
Publisher: Society for Mining, Metallurgy & Exploration
Total Pages: 2258
Release: 2019-02-01
Genre: Technology & Engineering
ISBN: 0873353854

This landmark publication distills the body of knowledge that characterizes mineral processing and extractive metallurgy as disciplinary fields. It will inspire and inform current and future generations of minerals and metallurgy professionals. Mineral processing and extractive metallurgy are atypical disciplines, requiring a combination of knowledge, experience, and art. Investing in this trove of valuable information is a must for all those involved in the industry—students, engineers, mill managers, and operators. More than 192 internationally recognized experts have contributed to the handbook’s 128 thought-provoking chapters that examine nearly every aspect of mineral processing and extractive metallurgy. This inclusive reference addresses the magnitude of traditional industry topics and also addresses the new technologies and important cultural and social issues that are important today. Contents Mineral Characterization and AnalysisManagement and ReportingComminutionClassification and WashingTransport and StoragePhysical SeparationsFlotationSolid and Liquid SeparationDisposalHydrometallurgyPyrometallurgyProcessing of Selected Metals, Minerals, and Materials

Agile Estimation Techniques and Innovative Approaches to Software Process Improvement

Agile Estimation Techniques and Innovative Approaches to Software Process Improvement
Author: Colomo-Palacios, Ricardo
Publisher: IGI Global
Total Pages: 399
Release: 2014-02-28
Genre: Computers
ISBN: 1466651830

Applying methodologies of Software Process Improvement (SPI) is an effective way for businesses to remain competitive in the software industry. However, many organizations find implementing software process initiatives challenging. Agile Estimation Techniques and Innovative Approaches to Software Process Improvement reviews current SPI techniques and applications through discussions on current and future trends as well as the presentation of case studies on SPI implementation. Ideal for use by academics, students, and policy-makers, as well as industry professionals and managers, this publication provides a complete overview of current tools and methodologies regarding Software Process Improvement.

Grand Successes and Failures in IT: Public and Private Sectors

Grand Successes and Failures in IT: Public and Private Sectors
Author: Yogesh K. Dwivedi
Publisher: Springer
Total Pages: 688
Release: 2013-06-22
Genre: Computers
ISBN: 3642388620

This book constitutes the refereed proceedings of the IFIP WG 8.6 International Working Conference on Transfer and Diffusion of IT, TDIT 2013, held in Bangalore, India, in June 2013. The 35 revised full papers presented together with an invited paper, 12 short papers and 3 poster papers were carefully reviewed and selected from 65 submissions. The full papers are organized in the following topical sections: IS success and failure; studies of IT adoption; software development; IT in the public sector; and theory and methods.

SME Technical Paper

SME Technical Paper
Author: Society of Manufacturing Engineers
Publisher:
Total Pages: 534
Release: 2005
Genre: Industrial engineering
ISBN:

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies
Author: Mr.Federico J Diez
Publisher: International Monetary Fund
Total Pages: 29
Release: 2021-04-02
Genre: Business & Economics
ISBN: 1513574566

The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.