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Insolvency After the 2005 Bankruptcy Reform
Albanesi, Stefania; Nosal, Jaromir - C.E.P.R. Discussion Papers - 2015
, 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 … that insolvency is associated with worse financial outcomes than bankruptcy, as insolvent individuals have less access to …
Persistent link: https://www.econbiz.de/10011252618
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Costly Contracts and Consumer Credit
Livshits, Igor; MacGee, James; Tertilt, Michèle - C.E.P.R. Discussion Papers - 2011
Financial innovations are a common explanation of the rise in consumer credit and bankruptcies. To evaluate this story, we develop a simple model that incorporates two key frictions: asymmetric information about borrowers’ risk of default and a fixed cost to create each contract offered by...
Persistent link: https://www.econbiz.de/10009322977
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Who Invests in Home Equity to Exempt Wealth from Bankruptcy?
Corradin, Stefano; Gropp, Reint; Huizinga, Harry; … - C.E.P.R. Discussion Papers - 2010
Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income...
Persistent link: https://www.econbiz.de/10008692314
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The Housing Crisis and Bankruptcy Reform: The Prepackaged Chapter 13 Approach
Posner, Eric A; Zingales, Luigi - C.E.P.R. Discussion Papers - 2009
The housing crisis threatens to destroy hundreds of billions of dollars of value by causing homeowners with negative equity to walk away from their houses. A house in foreclosure is worth 30 to 50 percent less than a house that a homeowner either retains or sells on the market, and a foreclosed...
Persistent link: https://www.econbiz.de/10005666502
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Gender and Competition
Booth, Alison L - C.E.P.R. Discussion Papers - 2009
In almost all European Union countries, the gender wage gap is increasing across the wages distribution. In this lecture I briefly survey some recent studies aiming to explain why apparently identical women and men receive such different returns and focus especially on those incorporating...
Persistent link: https://www.econbiz.de/10005082540
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Estimating Gender Differences in Access to Jobs: Females Trapped at the Bottom of the Ladder
Gobillon, Laurent; Meurs, Dominique; Roux, Sébastien - C.E.P.R. Discussion Papers - 2009
In this paper, we propose a job assignment model allowing for a gender difference in access to jobs. Males and females compete for the same job positions. They are primarily interested in the best-paid jobs. A structural relationship of the model can be used to empirically recover the...
Persistent link: https://www.econbiz.de/10008459767
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When do 'Female' Occupations Pay More?
Harmgart, Heike; Jurajda, Stepan - C.E.P.R. Discussion Papers - 2004
We compare the importance of occupational gender segregation for the gender wage gap in East and West Germany in 1995 using a sample of social-security wage records for full-time workers. East Germany, which features a somewhat higher degree of occupational segregation, has a gender wage gap in...
Persistent link: https://www.econbiz.de/10005662124
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Discrimination in the Swiss Labour Market: an Empirical Analysis
Golder, Stefan M.; Straubhaar, Thomas - C.E.P.R. Discussion Papers - 1999
Recent studies have shown that there are significant earnings differentials between immigrants and natives in Switzerland. The goal of this paper is to determine whether these differences can be attributed to diverging socio-economic endowments or to discrimination. We use the well-known...
Persistent link: https://www.econbiz.de/10005666559
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Gender Segregation in Employment Contracts
Petrongolo, Barbara - C.E.P.R. Discussion Papers - 2004
This Paper presents evidence on gender segregation in employment contracts in 15 EU countries, using micro data from the ECHPS. Women are over-represented in part-time jobs in all countries considered, but while in northern Europe such allocation roughly reflects women’s preferences and their...
Persistent link: https://www.econbiz.de/10005789141
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Gender Wage Differentials in a Competitive Labour Market: The Household Interaction Effect
Francois, Patrick; Ours, Jan C van - C.E.P.R. Discussion Papers - 2000
We present a theoretical explanation of the gender wage gap that turns on the interaction between men and women in households. In equilibria where men are over-represented in full-time work, we show that firms rationally choose to hire women only at strictly lower wages to men. The model...
Persistent link: https://www.econbiz.de/10005791202