Table 5.

Firm Exit Rate, by Method and Sample.

Exit rate	Incorporated enterprises	Self-employed businesses
Official record	0.027	0.056
Based on completed sample from both waves of survey	0.078	0.088
Predicted based on February survey	0.153	0.224
Imputed	0.189	0.251

Note: The official exit rate is the ratio of firms that had officially cancelled their licenses or had their licenses revoked between January 1 and September 30, 2020, to all the firms surviving as of the end of 2019, as listed in the administrative business registration database. The exit rate of the survey sample is the share of firms that had closed before the May survey in the successfully interviewed sample. The predicted exit rate is the share of firms that would run out of money before their expected date of reopening, based on the February survey. The imputed exit rate is computed based on the survey data and the business registration data according to the formula given in Section 5.