First published on
22 January 2021

What Types of Firms Become Illiquid as a Result of COVID-19? A Firm-Level Perspective Using French Data


This paper looks at the capacity of French firms to weather the COVID-19 crisis by considering characteristics such as cash reserves, operational flexibility and policy intervention.


William Connell Garcia and Victor Ho. European Commission.

Information and identifiers

Discussion Paper 136. January 2021. Brussels. PDF. 42pp. Tab. Graph. Bibliogr. Free.

KC-BD-20-004-EN-N (online)
ISBN 978-92-76-23765-5  (online)
ISSN 2443-8022 (online)
doi:10.2765/73924 (online)

JEL classification: C25, C54, D22, D24, G30.


European Economy Discussion Papers are written by the staff of the European Commission’s Directorate-General for Economic and Financial Affairs, or by experts working in association with them, to inform discussion on economic policy and to stimulate debate. The views expressed in this document are solely those of the author(s) and do not necessarily represent the official views of the European Commission.


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