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An Economic Analysis of Transnational Bankruptcies
Bebchuk, Lucian Arye - 2000
territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy …
Persistent link: https://www.econbiz.de/10012471197
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Can Output Losses Following International Financial Crises be Avoided?
Dooley, Michael P. - 2000
Recent financial crises in emerging markets have been followed by temporary but substantial losses in output. This paper explores the possibility that threats of such losses are the dominant incentive for repayment of international debt. In this environment private debtors and creditors have...
Persistent link: https://www.econbiz.de/10012471243
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Reorganization
Hall, Robert E. - 1999
One of the productive activities engaging the work force is reorganizing. When factors of production are better matched, productivity is higher. The probabilistic matching model of Diamond, Mortensen, and others provides a way to make the idea of reorganization precise. Because the flow of...
Persistent link: https://www.econbiz.de/10012471607
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The Effect of Principal Reduction on Household Distress : Evidence from Mortgage Cramdown
Cespedes, Jacelly C.; Parra, Carlos R.; Sialm, Clemens - National Bureau of Economic Research - 2021
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 …
Persistent link: https://www.econbiz.de/10012585384
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Economic Consequences of Hospital Closures
Alexander, Diane E.; Richards, Michael R. - National Bureau of Economic Research - 2021
Hospitals anchor much of US health care and receive a third of all medical spending, including various subsidies. Nevertheless, some become insolvent and exit the market. Research has documented subsequent access problems; however, less is understood about broader implications. We examine over...
Persistent link: https://www.econbiz.de/10012599400
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Zombie Lending : Theoretical, International and Historical Perspectives
Acharya, Viral V.; Crosignani, Matteo; Eisert, Tim; … - National Bureau of Economic Research - 2022
This paper surveys the theory on zombie lending incentives and the consequences of zombie lending for the real economy. It also offers a historical perspective by reviewing the growing empirical evidence on zombie lending along three dimensions: (i) the role of under-capitalized banks, (ii)...
Persistent link: https://www.econbiz.de/10013190998
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Real and Financial Decisions of a Firm with Bankruptcy and Default : An Integration
Hayashi, Fumio - 1983
rich menu of tax rates and explicitly incorporates bankruptcy and default. The firm's multi-period optimization problem is …
Persistent link: https://www.econbiz.de/10012478005
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LDC Borrowing with Default Risk
Sachs, Jeffrey - 1982
This paper presents a theoretical model to describe the effects of default risk on international lending to LDC sovereign borrowers. The threat of defaults in international lending is shown to give rise to many characteristics of the syndicated loan market: (1) quantity rationing of loans; (2)...
Persistent link: https://www.econbiz.de/10012478182
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Designed to Fail : Effects of the Default Option and Information Complexity on Student Loan Repayment
Cox, James C. - 2018
We ask why so few student loan borrowers enroll in Income Driven Repayment when the majority would benefit from doing so. To do so we run an incentivized laboratory experiment using a facsimile of the government's Student Loan Exit Counseling website. We test the role information complexity,...
Persistent link: https://www.econbiz.de/10012480909
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Are Consumers Affected by Durable Goods Makers' Financial Distress? The Case of Auto Manufacturers
Hortaçsu, Ali - 2010
maintenance). Manufacturer bankruptcy, or even the possibility thereof, threatens this service provision and can substantially …
Persistent link: https://www.econbiz.de/10012462460