This paper takes an early look at the Paycheck Protection Program (PPP), a large and novel small business support program that was part of the initial policy response to the COVID-19 pandemic. We use new data on the distribution of PPP loans and high-frequency micro-level employment data to consider two dimensions of program targeting. First, we do not find evidence that funds flowed to areas more adversely affected by the economic effects of the pandemic, as measured by declines in hours worked or business shutdowns. If anything, funds flowed to areas less hard hit. Second, we find significant heterogeneity across banks in terms of disbursing PPP funds, which does not only reflect differences in underlying loan demand. The top-4 banks alone account for 36% of total pre-policy small business loans, but disbursed less than 3% of all PPP loans. Areas that were significantly more exposed to low-PPP banks received much lower loan allocations. As data become available, we will study employment and establishment responses to the program and the impact of PPP support on the economic recovery. Measuring these responses is critical for evaluating the social insurance value of the PPP and similar policies.

Inmates were coughing and sneezing, and guards wore no personal protective equipment, said Hassan Chunn, 46, who fears the disease is spreading through the Metropolitan Detention Center.

The mayhem began when the assailant went berzerk inside an apartment building on Dorchester Road and East 21 St. in Flatbush about 10:50 p.m. Saturday, punching and kicking two men before stabbing one multiple times, police said.

The “community schools” program, which infuses schools with mental health counselors, free vision and dental care, and classes for parents, boosted attendance and on-time graduation rates in participating schools from 2015-2018, according to the report from the research group RAND Corporation.

Education officials, in a Friday morning webinar, instructed all city principals to prepare for an extended shutdown by assembling materials to send home with students, reviewing how to use online teaching platforms and deciding how to communicate with families, according to a copy of the presentation obtained by The News.

The bulk of students taking the test do so before starting Kindergarten—an aspect of the process critics say privileges parents with the money and savvy to prepare their young kids for the high-stakes exams.

New updated Reseller Program brochure for download. We work with Casual Resellers, Authorized Reseller Partners and Distributors in the following industries: IT hardware or software sales, IT consultancy, Website design and General design.

We propose a novel measure of bond market liquidity that does not depend on transaction data: the strength of the cross-sectional relationship between mutual fund cash holdings and fund flow volatility. Our measure captures how liquid funds perceive their portfolio holdings to be at a given point in time. The perceived liquidity of speculative grade and Rule 144A bonds is significantly lower than investment grade bonds in the cross section and deteriorated significantly following the 2008-9 financial crisis. Our measure can be applied in settings where either transaction data are not available or transactions are rare, including the markets for asset-backed securities, syndicated loans, and municipal bonds.

Both treatments rely on infusing patients with antibodies that latch onto the virus and block it from invading cells.

Don't hate Bolinas, California for having the means to undertake a mass testing program. Thank them for doing the rest of us a favor.

Clippers coach Doc Rivers spent time Thursday speaking to Rams players and answering questions about winning through teamwork.

Vanessa Bryant took to Instagram on Monday, the fourth anniversary of Kobe's 60-point farewell game, to share some heart-wrenching thoughts about late husband.

Vanessa Bryant celebrated the anniversary of her wedding to her late husband Kobe by posting a photo and a heartfelt message on Instagram.

The Lakers have paid back $4.6 million in federal coronavirus relief the franchise applied for as part of the Paycheck Protection Program.

Malik Thomas of La Verne Damien committed to USC on Friday as the Trojans' 2021 class landed another highly rated shooting guard within the same week.

The COVID-19 pandemic has scrambled plans for college football. USC coach Clay Helton said the Trojans would need about four weeks of preparation before the start of fall camp.

Angels pitcher JC Ramírez could be a starting pitcher or throw out of the bullpen depending on how much velocity he has coming off Tommy John surgery.

Despite early glitches and overwhelming demand, the Small Business Administration processed more than 100,000 Paycheck Protection Program loans by more than 4,000 lenders.

Joe Biden has vowed to pick a woman as running mate. L.A. Mayor Eric Garcetti will help the presumptive Democratic presidential nominee in his search.

Comedians Ashley Nicole Black and Chelsea Devantez join forces to unscramble two-word phrases where both words are anagrams of each other.

Coverage of the shooting rampage Friday night in Isla Vista, which killed six UCSB students along with the gunman, raised a question: Why were only three of the six victims pictured on the front page of Monday's print edition?

Liam Dillon (@dillonliam) an accomplished investigative journalist, is joining our State Capitol bureau in Sacramento.

A proposal that would allow Division I sports teams to be cut amid the coronavirus crisis has created concern among coaches and athletics officials.

The founder of the Museum of California Design organized shows related to women in design and California pottery.

Veteran Broadway actor, best known for playing Roy Biggins on "Wings," has died in New York at 73.

Ruggable's two-part rug system is driving social media crazy — in a good way. We talk to the Los Angeles-based entrepreneur behind it all, and she explains how it all started with her dog, and an accident. And a rug empire was born.

One in three cases of COVID-19 in Sacramento County have been linked to church gatherings, public health officials said.

The program had worked with labs in Wuhan, China, and around the world to detect deadly viruses that could jump from animals to humans.

An uneven response from schools is disrupting the lives of students who rely on campuses for education and essential services like food and healthcare.

How do you bring people together when social distancing forces them apart? Pablo Helguera and Grand Central Art Center in Santa Ana have a way, and it's free.

The tale of a black queer writer wins one of theater's top prizes. David Henry Hwang and Jeanine Tesori's musical, "Soft Power," is a finalist.

The solitude of social distancing gives the faithful an opportunity to reflect on the core principles of Ramadan.

Using chopsticks to stir melted butter and eggs results in a delicious hot breakfast.

This buttery, silky scrambled egg recipe comes together in five minutes and uses chopsticks to make cooking easy.

What crime novelist Laura Lippman is reading and watching in quarantine

When COVID-19 hit, spoken-word venues like Da Poetry Lounge and Olivia Open Mic went online, keeping verse flowing and raising funds for artists.

The language of the 2nd Amendment suggests that the Constitution's framers did not want to empower rifle-wielding protesters to invade statehouses.

As a divorce lawyer in 'Marriage Story,' Laura Dern calls out societal bias against mothers. She helped craft the speech with writer-director Noah Baumbach.

Appearing on "The Ellen DeGeneres Show," Grammys host Alicia Keys detailed the backstage frenzy that preceded her poignant tribute to Kobe Bryant.

In his first in-depth interview as Academy Museum director, Bill Kramer talks budget, construction time lines and, most important, what you'll see inside.

Malibu's offbeat pyramid house has sold to a former Warner Bros. executive for $2.02 million.

The Ram 1500 has knocked Chevy's Silverado out of second place in pickup-truck sales.

The HBO movie "Bad Education" explores a wild true story with one of Hugh Jackman's best film performances and strong support from Allison Janney.

Amber Havard and Rob Morgan co-star in "Bull," a drama about a troubled teen in a poor Houston neighborhood who comes under the tutelage of her neighbor.

Directed by Alex Rivera and Cristina Ibarra, "The Infiltrators" is a mix of documentary footage and staged fiction scenes to tell the story of undocumented young immigration activists taking their work inside a Florida detention facility.

Ashton Sanders ("Moonlight") stars in this film from "Black Panther" cowriter Joe Robert Cole.

R&B singer, songwriter and producer Babyface was initially wary of battling fellow legend Teddy Riley on IG Live. Then old friend Diddy stepped in.

For her new Netflix series "Never Have I Ever," Mindy Kaling picked Canadian teen Maitreyi Ramakrishnan from an open call of 15,000 hopefuls.

Like most scripted TV series, CBS legal drama "All Rise" was on hold for the coronavirus outbreak — until producers hatched a plan for a virtual season finale.

Novak Djokovic has been involved in controversial talks with a friend on Instagram.