{
  "title": "Firm Performance, Business Supports and Zombification over the Pandemic",
  "publication": "IMF Working Papers, January 31, 2025",
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  "summary": "Did the COVID-19 pandemic zombify the economy? Commentators have pointed to the pandemic and related business support measures potentially fueling zombification.",
  "sections": [
    {
      "heading": "Main findings",
      "content": "- Using administrative data covering the universe of Canadian firms, the share of zombie firms declined broadly across industries relative to pre-pandemic levels.\n- Business support measures kept firms alive and operating as non-zombie firms.\n- The decline in the zombie firm share was driven by would-be zombie firms exiting, indicating a cleansing effect of the pandemic.\n- Aggregate labour productivity worsened in Canada over the pandemic, but this deterioration was not driven by zombie firms."
    },
    {
      "heading": "Data and scope",
      "content": "- Coverage: Universe of Canadian firms (administrative data).\n- Pages: 40\n- Series: Working Paper No. 2025/029\n- Volume: 2025\n- Issue: 029"
    },
    {
      "heading": "Authors and publication",
      "content": "- By Alexander Amundsen, Amélie Lafrance-Cooke, Danny Leung\n- Publication date: January 31, 2025\n- DOI: https://doi.org/10.5089/9798400298776.001"
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: COVID-19, Employment, Health, Labor, National accounts, Production, Productivity\n- Keywords: Aggregate Productivity, business support measure, cleansing effect, COVID-19, COVID-19 Pandemic, Employment, Europe, exit component, firm performance, Productivity, zombie firm, Zombie Firms"
    },
    {
      "heading": "Identifiers",
      "content": "- ISBN: 9798400298776\n- ISSN: 1018-5941\n- Stock No: WPIEA2025029\n\nIMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2025/01/31/firm-performance-business-supports-and-zombification-over-the-pandemic-561239"
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    "Authors: Alexander Amundsen, Amélie Lafrance-Cooke, Danny Leung",
    "Published: January 31, 2025",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400298776.001",
    "Using administrative data covering the universe of Canadian firms, the share of zombie firms declined broadly across industries relative to pre-pandemic levels.",
    "Business support measures kept firms alive and operating as non-zombie firms.",
    "The decline in the zombie firm share was driven by would-be zombie firms exiting, indicating a cleansing effect of the pandemic.",
    "Aggregate labour productivity worsened in Canada over the pandemic, but this deterioration was not driven by zombie firms.",
    "Coverage: Universe of Canadian firms (administrative data).",
    "Pages: 40",
    "Series: Working Paper No. 2025/029",
    "Volume: 2025",
    "Issue: 029",
    "By Alexander Amundsen, Amélie Lafrance-Cooke, Danny Leung",
    "Publication date: January 31, 2025",
    "DOI: https://doi.org/10.5089/9798400298776.001",
    "Subject: COVID-19, Employment, Health, Labor, National accounts, Production, Productivity",
    "Keywords: Aggregate Productivity, business support measure, cleansing effect, COVID-19, COVID-19 Pandemic, Employment, Europe, exit component, firm performance, Productivity, zombie firm, Zombie Firms",
    "ISBN: 9798400298776",
    "ISSN: 1018-5941",
    "Stock No: WPIEA2025029",
    "**Working Paper**"
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