. That selection works against banks; large overdrafts cost more to supply and, if depositors default, banks lose more, so …

Program (HARP). We use a competing risk model to estimate the sensitivity of default risk to downward adjustments of borrowers … reduction that we estimate would result from refinancing under HARP, we find that the cumulative five-year default rate on prime … an average loss given default of 35.2 percent, this lower default risk implies reduced credit losses of 134 basis points …

CCP figure. Despite the credit card debt mismatch, bankruptcy history is reported comparably in the borrower and lender …

into a lower-rate mortgage on borrower balance sheet outcomes. Refinancing substantially reduces borrower default rates on …

Using a comprehensive panel dataset on U.S. households, we study the effects of the 2005 Bankruptcy Abuse Prevention … and Consumer Protection Act (BAPCPA), the most substantive reform of personal bankruptcy in the United States since the … Bankruptcy Reform Act of 1978. The 2005 legislation introduced a means test based on income to establish eligibility for Chapter …