Similar Search Results

Debt Moratoria : Evidence from Student Loan Forbearance

Dinerstein, Michael; Yannelis, Constantine; Chen, Ching-Tse - National Bureau of Economic Research - 2023

We evaluate the effects of the 2020 student debt moratorium that paused payments for student loan borrowers. Using administrative credit panel data, we show that the payment pause led to a sharp drop in student loan payments and delinquencies for borrowers subject to the debt moratorium, as well...

Persistent link: https://www.econbiz.de/10014287348

Framing Effects, Earnings Expectations, and the Design of Student Loan Repayment Schemes

Abraham, Katharine G. - 2018

Income-driven student loan repayment (IDR) plans provide protection against unaffordable loan payments and default by linking loan payments to borrowers' earnings. Despite the advantages IDR would offer to many borrowers, take-up remains low. We investigate how take-up is affected by the framing...

Persistent link: https://www.econbiz.de/10012453231

Default and Repayment Among Baccalaureate Degree Earners

Lochner, Lance J. - 2014

More than low default rates, lenders are interested in the expected return on their loans. In this paper, we consider a number of other measures of repayment and nonpayment that are likely to be of direct interest to lenders. Using data from the Baccalaureate and Beyond Longitudinal Study, we...

Persistent link: https://www.econbiz.de/10012458781

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/10012479637

Macroeconomic-Driven Prepayment Risk and the Valuation of Mortgage-Backed Securities

Chernov, Mikhail - 2016

We introduce a reduced-form modeling framework for mortgage-backed securities in which we solve for the implied prepayment function from the cross section of market prices. From the implied prepayment function, we find that prepayment rates are driven not only by interest rates, but also by two...

Persistent link: https://www.econbiz.de/10012456578

Student Loans and Repayment : Theory, Evidence and Policy

Lochner, Lance - 2015

Rising costs of and returns to college have led to sizeable increases in the demand for student loans in many countries. In the U.S., student loan default rates have also risen for recent cohorts as labor market uncertainty and debt levels have increased. We discuss these trends as well as...

Persistent link: https://www.econbiz.de/10012457817

The Effect of Principal Reduction on Household Distress : Evidence from Mortgage Cramdown

Cespedes, Jacelly C.; Parra, Carlos R.; Sialm, Clemens - National Bureau of Economic Research - 2021

Mortgage cramdown enabled bankruptcy judges to discharge the underwater portion of a mortgage during Chapter 13 bankruptcy before the Supreme Court disallowed this practice in 1993. We exploit the random assignment of cases to judges to quantify the ex-post effects of Chapter 13 bankruptcy over...

Persistent link: https://www.econbiz.de/10012585384

Personal Bankruptcy and Credit Supply and Demand

Gropp, Reint - 1996

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/10012473189

Competitive Lending with Partial Knowledge of Loan Repayment

Brock, William A. - 2008

We study a competitive credit market in which lenders with partial knowledge of loan repayment use one of three decision criteria - maximization of expected utility, maximin, or minimax regret - to make lending decisions. Lenders allocate endowments between loans and a safe asset, while...

Persistent link: https://www.econbiz.de/10012464269

A Simple Test of Adverse Events and Strategic Timing Theories of Consumer Bankruptcy

Gan, Li - 2005

the bankruptcy decision or not. For the strategic timing theory such decisions are endogenous, while for the adverse … events theory they are not. Hausman tests for endogeneity show that financial benefit, unsecured debt, and non-exempt assets … are exogenous with the bankruptcy decision, consistent with the adverse events theory …

Persistent link: https://www.econbiz.de/10012466908

1
2
3
4
5
6
7
8
9
10
Next
Last