random assignment of bankruptcy judges as a source of exogenous variation in the probability of liquidation. We find that …How do different bankruptcy approaches affect the local economy? Using U.S. Census microdata at the establishment level …, we explore the spillover effects of reorganization and liquidation on geographically proximate firms. We exploit the …

Unionized workers are entitled to special treatment in bankruptcy court. This can be detrimental to other corporate … bankruptcy states. Closely won union elections lead to significant bond value losses, especially when firms approach bankruptcy …, and costlier bankruptcy court proceedings. Unions further depress bondholders' recovery values as they are assigned seats …

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

. The bankruptcy and liquidation of a retail chain weakens the economies of agglomeration in any given local area, reducing …

liquidation resulting from past over-investment. According to the main proponents of this view, government spending should not be … used to mitigate such a liquidation process, as doing so would simply result in a needed adjustment being postponed. In … countered by activist fiscal policy. In this paper we reexamine the liquidation perspective of recessions in a setup where …