1 Introduction -- 2 General Issues in Bankruptcy Law -- 3 Are Banks Special? Implications for Bank Bankruptcy Law -- 4 … Systemic Crises -- 5 General Issues on the structure of Banking Industry -- 6 Current Bank Bankruptcy Regimes and Recent … Developments -- 7 Optimal Design of Bank Bankruptcy Law and the Bank Failures from the 2007-2009 Financial Crisis -- 8 Conclusions …

countercyclicality of bankruptcy filings found in U.S. data? Yes, it does, but only if we explicitly model recessions as displaying … bankruptcy risk discouraging households from using credit. This finding contradicts the intuition that access to credit helps …