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. 2022 Jul 12;145(3):725–761. doi: 10.1016/j.jfineco.2022.05.006

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Fig. 11 — PPPE and Post-PPP Outcomes (Matched Sample Analysis). Fig. 11 investigates business shutdowns, changes in the ratio of hours worked, and changes in the number of employees for firms in the Homebase sample that are name-matched to the PPP data set from SBA. We compare firms that received PPP approval in week 12 or earlier to those that received PPP approval in week 16 or later. Data is from Call Reports, SBA, and Homebase.