Bankruptcy Reform Act of 1978. The 2005 legislation introduced a means test based on income to establish eligibility for Chapter …, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and …. 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 … to crisis resolution. The usual bankruptcy procedures for doing this fail to internalise the price effects of asset ‘fire …

under limited liability should be characterized by higher than average insolvency and employment growth rates. We test these … without losses to creditors, and bankruptcy as forced liquidation. We demonstrate that firms under limited liability are … characterized by higher growth and higher insolvency rates than comparable firms under full liability. Surprisingly, the likelihood …

by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the … in homestead exemptions, which are an important part of U.S. bankruptcy regulation, have a small effect on the quantity …

defaults and bankruptcy. Building on a simple model for the joint determination of the repayments of interbank claims, this …

outside bankruptcy. The approach to bankruptcy is contract-based, with lenders and borrowers relying on procedures written … the decision to place the distressed firm in bankruptcy. …

. Regulators can reduce creditor passivity through their ex-ante choice of monitoring capability and their ex-post choice of policy …