Fig. 11
From: Firm bankruptcies and start-up activity in Switzerland during the COVID-19 crisis
Relationship of COVID-19 loans and bankruptcies across cantons. Notes: The scatter plot shows the correlation between the share of firms who took out COVID-19 loans and the change in bankruptcy rates across cantons. The change in bankruptcy rates is given by the difference in average bankruptcy rates 22 months before and after the start of the COVID-19 crisis. The results are robust to choosing a 12-month or 18-month comparison window. Abbreviations: Aargau (AG), Appenzell Ausserrhoden (AR), Appenzell Innerrhoden (AI), Basel-Landschaft (BL), Basel-Stadt (BS), Bern (BE), Fribourg (FR), Genève (GE), Glarus (GL), Graubünden (GR), Jura (JU), Luzern (LU), Neuchâtel (NE), Nidwalden (NW), Obwalden (OW), Schaffhausen (SH), Schwyz (SZ), Solothurn (SO), St. Gallen (SG), Thurgau (TG), Ticino (TI), Uri (UR), Valais (VS), Vaud (VD), Zug (ZG) and Zürich (ZH)