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Table 7 Relevance of varied combinations of adjustment strategies to firms, by type and severity of shock (percentage)

From: European firm adjustment during times of economic crisis

Reduce price

Reduce margins

Reduce output

Reduce costs

All firms

Weak demand shock

Strong demand + weak credit shock

Strong demand + strong credit shock

  

●

●

15.9

9.4

26.9

22.6

   

●

15.6

20.3

8.8

8.2

●

●

●

●

13.9

9.7

18.1

28.3

●

●

 

●

10.8

11.1

10.4

8.9

 

●

●

●

5.8

2.9

7.9

18.5

x

x

x

x

21.1

29.9

8.9

1.9

  1. Source: WDN surveys. Note: Each of the top five rows shows the proportion of firms responding that a given “combination” of adjustment channels is either “relevant” or “very relevant” to its crisis response. The bottom row designates the proportion of firms responding that none of the four channels is relevant. Figures are employment-weighted and rescaled excluding “do not know” answers
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