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A comparison of U.S. corporate and bank insolvency resolution

Bliss, Robert R.; Kaufman, George - In: Economic Perspectives (2006) Q II, pp. 44-55

In the U.S., the insolvency resolution of most corporations is governed by the federal bankruptcy code and is … administered by special bankruptcy courts. Most large corporate bankruptcies are resolved under Chapter 11 reorganization … FDIC. These two resolution processes—corporate bankruptcy and bank receiverships—differ in a number of significant ways …

Persistent link: https://www.econbiz.de/10005499167

FARMER BANKRUPTCIES AND FARM EXITS IN THE UNITED STATES, 1899-2002

Stam, Jerome M.; Dixon, Bruce L. - Economic Research Service, Department of Agriculture - 2004

Farmer bankruptcies, bankruptcy rates, and related issues are explored from the beginning of modern bankruptcy … legislation over a century ago. Farmer bankruptcies historically have been controversial because they are thought to indicate …. Bankruptcy data for Chapters 7, 11, and 13 exist for farmers for the 1899-1980 period, but there are no Chapter 7, 11, or 13 …

Persistent link: https://www.econbiz.de/10005500221

Lorenz comparisons of nine rules for the adjudication of conflicting claims

Bosmans, Kristof; Lauwers, Luc - Centrum voor Economische Studiën, Faculteit Economie … - 2007

Consider the following nine rules for adjudicating conflicting claims: the proportional, constrained equal awards, constrained equal losses, Talmud, Piniles’, constrained egalitarian, adjusted proportional, random arrival, and minimal overlap rules. For each pair of rules in this list, we...

Persistent link: https://www.econbiz.de/10005503865

Two Derivations of the Uniform Rule and an Application to Bankruptcy

Schummer, J.; Thomson, W. - University of Rochester - Center for Economic Research … - 1996

We consider the problem of allocating a single infinitely divisible commodity to agents with single-peaked preferences, and establish two properties of the rule that has played the central role in the analysis of this problem, the uniform role. Among the efficient allocations, it selects (1) the...

Persistent link: https://www.econbiz.de/10005503955

Back to Keynes?

van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 2005

After a brief review of classical, Keynesian, New Classical and New Keynesian theories of macroeconomic policy, we assess whether New Keynesian Economics captures the quintessential features stressed by JM Keynes. Particular attention is paid to Keynesian features omitted in New Keynesian...

Persistent link: https://www.econbiz.de/10005504355

Multiple Lenders and Corporate Distress: Evidence on Debt Restructuring

Brunner, Antje; Krahnen, Jan Pieter - C.E.P.R. Discussion Papers - 2004

In the recent theoretical literature on lending risk, the common pool problem in multi-bank relationships has been analysed extensively. In this Paper we address this topic empirically, relying on a unique panel dataset that includes detailed credit-fie information on distressed lending...

Persistent link: https://www.econbiz.de/10005504452

Business Debt and Default in France

Bordes, Christian; Melitz, Jacques - C.E.P.R. Discussion Papers - 1989

and financial factors, insolvency and illiquidity, are all important, separate influences on the defaults of French firms …

Persistent link: https://www.econbiz.de/10005504522

Competition, Financial Discipline and Growth

Aghion, Philippe; Dewatripont, Mathias; Rey, Patrick - C.E.P.R. Discussion Papers - 1999

This paper develops a general equilibrium model of technological adoption in an economy populated by 'satisficing' entrepreneurs whose main objective is to minimise innovative effort while keeping the firm alive. In such an economy, product market competition is shown to have a stimulating...

Persistent link: https://www.econbiz.de/10005504632

DEFAULT AND RENEGOTIATION: A DYNAMIC MODEL OF DEBT.

HART, O.; MOORE, J. - Economics Department, Massachusetts Institute of … - 1989

Persistent link: https://www.econbiz.de/10005450558

Competitive Equilibria With Incomplete Markets and Endogenous Bankruptcy

Sabarwal, Tarun - In: Contributions to Theoretical Economics 3 (2003) 1, pp. 1060-1060

This paper constructs a model of an exchange economy in which bankruptcy arises in a manner similar to what we observe …. Therefore, bankruptcy can co-exist with smoothly functioning competitive markets in fairly general economies. Examples highlight … some welfare effects of bankruptcy. …

Persistent link: https://www.econbiz.de/10005458971