access to unsecured credit (because of bankruptcy costs) and aggregate shocks, we show that the cyclical behavior of … credit match the sizes of credit and bankruptcy volatilities. We also find that when the right to file for bankruptcy does …

What are the positive and normative implications of eliminating bankruptcy protection for indebted individuals? Without … bankruptcy protection, creditors can collect on defaulted debt to the extent permitted by wage garnishment laws. The elimination …

In this paper, we ask how bankruptcy law affects the financial decisions of corporations and its implications for firm … dynamics. According to current U.S. law, firms have two bankruptcy options: Chapter 7 liquidation and Chapter 11 reorganization … to include both bankruptcy options in a general equilibrium environment. Finally, we evaluate a bankruptcy policy change …

lent first are given priority in any bankruptcy or restructuring proceedings. The goal of this paper is to incorporate …

We are the first to show that the cost of personal bankruptcy filers traveling to their bankruptcy trustees affects … bankruptcy choices. We use detailed balance sheet, income statement, and location data from 400,000 Canadian bankruptcies. To … bankruptcy trustees (while filers interact with trustees, and trustees interact with local government, filers do not interact …

evaluate the 2005 bankruptcy law reform. The calibrated model indicates that the 2005 reform reduces bankruptcies, as seen in …