Albanesi, Stefania; Nosal, Jaromir B. - Federal Reserve Bank of New York - 2015
, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and … foreclosure. We find that the reform caused a permanent drop in the Chapter 7 bankruptcy rate relative to pre-reform levels, owing …. We find that the decline in bankruptcy filings resulted in a rise in the rate and persistence of insolvency as well as an …