\BOOKMARK [1][-]{section.1}{Introduction}{}% 1
\BOOKMARK [1][-]{section.2}{Startups\040during\040the\040COVID-19\040pandemic}{}% 2
\BOOKMARK [1][-]{section.3}{The\040Startup\040Calculator}{}% 3
\BOOKMARK [2][-]{subsection.3.1}{Data}{section.3}% 4
\BOOKMARK [2][-]{subsection.3.2}{Accounting\040for\040startups:\040methodology}{section.3}% 5
\BOOKMARK [3][-]{subsubsection.3.2.1}{Interpolation\040of\040age-specific\040information}{subsection.3.2}% 6
\BOOKMARK [3][-]{subsubsection.3.2.2}{Extrapolation\040of\040information\040until\0402019}{subsection.3.2}% 7
\BOOKMARK [3][-]{subsubsection.3.2.3}{Constructing\040alternative\040scenarios}{subsection.3.2}% 8
\BOOKMARK [2][-]{subsection.3.3}{Adjusting\040for\040equilibrium\040effects}{section.3}% 9
\BOOKMARK [1][-]{section.4}{Results}{}% 10
\BOOKMARK [2][-]{subsection.4.1}{Baseline\040scenario\040-\040the\040historical\040worst\040case}{section.4}% 11
\BOOKMARK [2][-]{subsection.4.2}{Scenario\040based\040on\040the\040most\040recent\040BDM\040data}{section.4}% 12
\BOOKMARK [2][-]{subsection.4.3}{Bounce-back\040scenarios}{section.4}% 13
\BOOKMARK [2][-]{subsection.4.4}{Specificities\040of\040the\040Covid\040Recession\040and\040Lessons\040for\040Policy}{section.4}% 14
\BOOKMARK [1][-]{section.5}{Application\040to\040France,\040Germany,\040Italy\040and\040Spain}{}% 15
\BOOKMARK [2][-]{subsection.5.1}{Data}{section.5}% 16
\BOOKMARK [2][-]{subsection.5.2}{Results\040from\040the\040calculator}{section.5}% 17
\BOOKMARK [1][-]{section.6}{Policy\040Implications\040and\040Concluding\040Remarks}{}% 18
