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JSPES, Vol. 47, No. 1-2 (Spring-Summer 2022)
pp. 47-62

Lessons From the Subprime Years For the Covid Years

Jorge Vasconcellose Sá
Natália Teixeira
Instituto Superior de Gestão (ISG), Portugal

This study aims to draw lessons about the subprime crisis and how it differentially affected different business sectors. Based on empirical data from Eurostat, it aims to assess the resilience of firms during the subprime crisis (years 2008-2014) and whether they belong to some industries and economic sectors. It is also intended to analyse whether, regardless of whether an industry is resilient on average or not, it holds resilient segments. Finally, we evaluate the changes in the structure of the economy during the crisis; as well as draw whether the inferences drawn about the subprime crisis are compatible with recent Covid 2020 data.