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International Comparative Household Finance

Badarinza, Cristian - 2016

This paper reviews the literature on international comparative household finance. The paper presents summary statistics … on household balance sheets for 13 developed countries, and uses these statistics to discuss common features and …

Persistent link: https://www.econbiz.de/10012997290

Corporate and Personal Bankruptcy Law

White, Michelle J. - 2011

Bankruptcy is the legal process by which the debts of firms, individuals, and occasionally governments in financial distress are resolved. Bankruptcy law always includes three components. First, it provides a collective framework for simultaneously resolving all debts of the bankrupt entity,...

Persistent link: https://www.econbiz.de/10013122219

Moral and Social Constraints to Strategic Default on Mortgages

Guiso, Luigi - 2009

defaults are strategic. We also find that no household would default if the equity shortfall is less than 10% of the value of …

Persistent link: https://www.econbiz.de/10013158025

Personal Bankruptcy and Credit Supply and Demand

Gropp, Reint - 2008

This paper examines how personal bankruptcy and bankruptcy exemptions affect the supply and demand for credit. While generous state-level bankruptcy exemptions are probably viewed by most policymakers as benefitting less-well-off borrowers, our results using data from the 1983 Survey of Consumer...

Persistent link: https://www.econbiz.de/10012774973

Bankruptcy Reform and Credit Cards

White, Michelle J. - 2007

From 1980 to 2004, the number of personal bankruptcy filings in the United States increased more than five-fold, from 288,000 to 1.5 million per year. Lenders responded to the high filing rate with a major lobbying campaign for bankruptcy reform that led to the adoption in 2005 of the Bankruptcy...

Persistent link: https://www.econbiz.de/10012776465

Targeted Debt Relief and the Origins of Financial Distress : Experimental Evidence from Distressed Credit Card Borrowers

Dobbie, Will - 2019

We study the drivers of financial distress using a large-scale field experiment that offered randomly selected borrowers a combination of (i) immediate payment reductions to target short-run liquidity constraints and (ii) delayed debt write-downs to target long-run debt constraints. We identify...

Persistent link: https://www.econbiz.de/10012901664

Designed to Fail : Effects of the Default Option and Information Complexity on Student Loan Repayment

Cox, James C. - 2018

We ask why so few student loan borrowers enroll in Income Driven Repayment when the majority would benefit from doing so. To do so we run an incentivized laboratory experiment using a facsimile of the government's Student Loan Exit Counseling website. We test the role information complexity,...

Persistent link: https://www.econbiz.de/10012907768

Insolvency after the 2005 Bankruptcy Reform

Albanesi, Stefania - 2018

the effects of the reform on bankruptcy, insolvency, and foreclosure, we explore the mechanism generating these responses … 25% permanent rise in insolvency, but had no effect on Chapter 13 filings. Exploiting the cross-district variation in … higher monetary cost of filing for bankruptcy. We show that insolvency is associated with worse outcomes than bankruptcy, in …

Persistent link: https://www.econbiz.de/10012912179

Macroeconomic Effects of Debt Relief : Consumer Bankruptcy Protections in the Great Recession

Auclert, Adrien - 2019

This paper argues that the debt forgiveness provided by the U.S. consumer bankruptcy system helped stabilize employment levels during the Great Recession. We document that over this period, states with more generous bankruptcy exemptions had significantly smaller declines in non-tradable...

Persistent link: https://www.econbiz.de/10012889963

Accounting for the Rise in Consumer Bankruptcies

Livshits, Igor - 2010

Personal bankruptcies in the United States have increased dramatically, rising from 1.4 per thousand working age population in 1970 to 8.5 in 2002. We use a heterogeneous agent life-cycle model with competitive financial intermediaries who can observe households' earnings, age and current asset...

Persistent link: https://www.econbiz.de/10012759871

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