for example 4.5% in 1994. The German legislator has reacted to this incessant trend by establishing in 1999 an insolvency … examination focusses on the analysis of the possible effects of an insolvency code on the problem of private overindebtedness in …

. This paper uses household-level data from the 'experiment' of German reunification that (exogenously) offered to East …-unification participation of former East and West Germans in financial products, controlling for relevant household characteristics. We vary … familiarity differentials by considering (i) both unfamiliar 'capitalist' products (stocks, bonds, and consumer credit) and ones …

Household access to financial products is often conditioned on previous use. However, banning access when learning is …