Table 5.

Matching results for medium-run policy effects.

Panel A: Social security or employment stabilization subsidies
	Cash $<1$ Month	Reopen	Labor recovery$>50$%
Treatment group	0.158	0.936	0.855
Control group	0.174	0.878	0.793
ATT	−0.028	$0.037\ast$	$0.064\ast \ast$
	(0.027)	(0.020)	(0.027)
Number of matched pairs	716	716	670
Panel B: Tax exemptions or Extensions
	Cash $<1$ Month	Reopen	Labor recovery $>50$ %
Treatment group	0.135	0.932	0.830
Control group	0.195	0.877	0.811
ATT	$-0.057\ast \ast$	$0.040\ast \ast$	0.008
	(0.024)	(0.020)	(0.025)
Number of matched pairs	795	795	741
Panel C: Rent or Utilities reductions
	Cash $<1$ Month	Reopen	Labor recovery $>50$ %
Treatment group	0.110	0.945	0.835
Control group	0.206	0.931	0.816
ATT	$-0.119\ast \ast$	0.018	0.068
	(0.060)	(0.033)	(0.065)
Number of matched pairs	109	109	103
Panel D: Credit or Loan supports
	Cash $<1$ Month	Reopen	Labor recovery $>50$ %
Treatment group	0.127	0.922	0.830
Control group	0.175	0.899	0.818
ATT	−0.018	0.019	−0.027
	(0.033)	(0.026)	(0.038)
Number of matched pairs	268	268	247