territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy …

Mortgage cramdown enabled bankruptcy judges to discharge the underwater portion of a mortgage during Chapter 13 … bankruptcy before the Supreme Court disallowed this practice in 1993. We exploit the random assignment of cases to judges to … quantify the ex-post effects of Chapter 13 bankruptcy over the period from 1989 to 1993. We find that a successful Chapter 13 …

rich menu of tax rates and explicitly incorporates bankruptcy and default. The firm's multi-period optimization problem is …

This paper argues that the debt forgiveness provided by the U.S. consumer bankruptcy system helped stabilize employment … levels during the Great Recession. We document that over this period, states with more generous bankruptcy exemptions had …-post debt forgiveness provided by the consumer bankruptcy system during the Great Recession increased aggregate employment by …

A more generous consumer bankruptcy system provides greater insurance against financial risks, but it may also raise … the cost of credit to consumers. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer … Protection Act (BAPCPA), which raised the costs of filing for bankruptcy. We identify the effects of BAPCPA on borrowing costs by …

The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) is the most important reform of personal … bankruptcy in the United States in recent years. This legislation overhauled eligibility requirements and increased monetary … costs of filing for bankruptcy. Using administrative credit file data from a nationally representative panel, we quantify …