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 …

By compiling a novel data set from bankruptcy court dockets recorded in Delaware between 2001 and 2002, the authors … build and estimate a structural model of Chapter 13 bankruptcy. This allows them to quantify how key debtor characteristics …, including whether they are experiencing bankruptcy for the first time, their past-due secured debt at the time of filing, and …

Bankruptcy reform in 2005 eliminated debtors' ability to discharge private student loan debt in bankruptcy. This law … bankruptcy even if they had sufficient income to service their debt. Using a unique, nationally representative sample of … anonymized credit bureau files, we examine the bankruptcy filing and delinquency rates of private student loan borrowers in …

assets (cash and pensions), appearing on the balance sheets of neighboring bankruptcy filers …

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 …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic … Bankruptcy policy …