This study evaluates the impact of “group subsidies,” a policy intervention intended to repair and reinstall damaged capital goods and facilities of small‐ and medium‐sized enterprises after the Great East Japan earthquake. Employing a propensity‐score‐matching and difference‐in‐differences approach, we find a positive effect of the subsidies on post‐disaster sales and employment of small recipient firms. We also find a positive indirect effect of group subsidies on firms in disaster‐hit prefectures that did not receive any group subsidy but were linked through supply chains with a recipient firm. Our results indicate the propagation of post‐disaster policy effects through supply chains. (JEL H20, L14, Q54)

中文翻译：

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灾后政策通过供应链的正效应传播

这项研究评估了“团体补贴”的影响，“团体补贴”是旨在修复和重新安装东日本大地震后中小型企业受损的资本品和设施的政策干预措施。我们采用倾向得分匹配和差异方法，发现补贴对受灾小企业的灾后销售和就业产生了积极影响。我们还发现，团体补贴对受灾地区没有获得团体补贴但通过供应链与受援企业联系起来的企业产生了积极的间接影响。我们的结果表明，灾难后政策的影响通过供应链传播。（ JEL H20，L14，Q54）