Thousands of U.S. households filed for bankruptcy just before the bankruptcy law changed in 2005. That rush-to-file was … more pronounced, we find, in states with more generous bankruptcy exemptions and lower credit scores. We take that finding … as evidence that the new law effectively reduces exemptions, which in turn should reduce the ?demand? for bankruptcy and …

We argue that the 2005 bankruptcy abuse reform (BAR) contributed to the surge in subprime foreclosures that followed … its passage. Before BAR, distressed mortgagors could free up income by filing bankruptcy and having their unsecured debts … home equity bankruptcy exemptions; filers in low-exemption states were not very protected before BAR, so they would be less …

market competition, lending to households, and personal bankruptcy rates in the United States. We exploit the exogenous … decreased, and (3) bankruptcy rates rose. Further, we find that lending and bankruptcy rates increased more in states with …

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

the distribution probability of the shock, evaluate a bankruptcy risk and, at the second stage, firms are engaged in a … increases the bankruptcy probability of the merging firms while a similar merger concerning unleveraged firms or between the two … categories of firms leads to a decrease in the bankruptcy probability of leveraged firms. Moreover, the minimum number of firms …

The evolutions of the bankruptcy law seek to reach many aims: economic safety, firms' creation and expansion in a … ability to protect creditors' interest of the bankruptcy law. We show that far from being only one means of selection thanks … to which the market could be cleared of its failing agents, the bankruptcy law opens a non commercial space of resolution …