Law of Bankruptcy, 1838, traders in France were under a legal obligation to keep accounts of their business activities. In … the event of bankruptcy, traders were potentially subject to severe sanctions for failure to comply. However, research … the seventeenth and eighteenth centuries. Utilising 500 bankruptcy case files covering the period 1847 to 1887, contained …

Under the assumption that asset markets are incomplete, this paper introduces bankruptcy in an intertemporal … argues that intervention in the form of a level of bankruptcy exemption can enhance not only social welfare but also … distributive equity. The bankruptcy law is carefully specified in the model. The model generates distributional changes in …

general equilibrium model. Binding ceilings on loan rates reduce the probability of bankruptcy. Lower bankruptcy rates result … in lower bankruptcy and liquidation costs. The authors state conditions under which the resources freed by this cost …