, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and … to the rise in filing costs associated with the reform, which can be interpreted as resulting from liquidity constraints …. We find that the decline in bankruptcy filings resulted in a rise in the rate and persistence of insolvency as well as an …

driving asset prices to ‘overshoot’ equilibrium when an asset bubble bursts - threatening widespread insolvency and what …

under limited liability should be characterized by higher than average insolvency and employment growth rates. We test these … characterized by higher growth and higher insolvency rates than comparable firms under full liability. Surprisingly, the likelihood … liquidation, while the propensity to insolvency is not affected by the owner’s age. The basic empirical results hold in pooled …

liquidity is inefficient. The reason is that liquidity affects prices and the welfare of others, and creators do not internalize … government must restrict the creation of liquidity by the private sector. …

During the recent financial crisis, central banks have provided liquidity and governments have set up rescue programmes … bank suffering from liquidity shocks, we find that the unregulated bank keeps too much liquidity and monitors too little. A … central bank can alleviate the liquidity problem, but induces moral hazard. Therefore, we introduce an additional authority …