The Paycheck Protection Program and small business performance: Evidence from craft breweries
In collaboration with Thomas P. Krumel Jr.
This study merges Small Business Administration data with a verified dataset of craft beer producers to examine the relationship between PPP funding and small business performance during COVID-19. Results suggest that firms that receive PPP funding are more likely to remain in operation and experience a smaller decline in annual production. Additionally, the study uses a quasi-experiment exploiting a natural break in the loan program to suggest a positive causal effect of the role of loan approval timing on short-run performance outcomes.
The impact of transitioning to cage-free eggs on U.S. egg farmers, retailers, and consumers
In collaboration with Vincenzina Caputo, Jayson Lusk, and Glynn Tonsor
Several states have now implemented legislation to ban the production of caged (conventional) eggs, and retailers have also made commitments to transition to 100% cage-free eggs by 2025. With these looming policy and pledge deadlines, it is important to understand how the supply chain will adjust to this impending transition. We use consumer and producer survey data to understand the long-run effects of cage-free egg mandates and pledges on U.S. egg markets. The results inform industry decisions and educate policymakers and consumers on the implications of the impending transition to cage-free production.
Employment and performance effects of the Paycheck Protection Program
In collaboration with Trey Malone, Craig Carpenter, and Christopher (Kit) Deming
Data from the PPP and Quarterly Census of Employment and Wages are merged with Colorado craft brewery data to understand the relationship between PPP funding, employment, and year-over-year production outcomes. The role of banks and networking effects are also analyzed to explore the equity concerns of the PPP.
Market outlook for new and developing meat alternatives: Challenges, opportunities, and forecasts
In collaboration with Vincenzina Caputo and Jiayu Sun
Plant-based meat alternatives have received heightened attention due to their expected environment, health, and animal welfare benefits. This project summarizes the state of the industry, reviews market reports forecasting the future of the industry, and provides an overview of the current challenges and opportunities in this market.
Halo effects in alcohol markets
In collaboration with Brenna Ellison, Vincenzina Caputo, and Trey Malone
Consumers habitually rely on food labels to make purchasing decisions, but they also use heuristics and other associations in judgment and decision-making. The halo effect, or the tendency to judge one product characteristic based on other product characteristics, is prevalent in food purchasing decisions. Using data from a panel of 1,087 beer and hard seltzer consumers across four metropolitan areas, we explore whether halo effects exist in the American alcohol marketplace.