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Credit, Bankruptcy, and Aggregate Fluctuations
Nakajima, Makoto - 2014
We ask two questions related to how access to credit affects the nature of business cycles. First, does the standard theory of unsecured credit account for the high volatility and procyclicality of credit and the high volatility and countercyclicality of bankruptcy filings found in U.S. data?...
Persistent link: https://www.econbiz.de/10013044939
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Credit, Bankruptcy, and Aggregate Fluctuations
Nakajima, Makoto - 2014
We ask two questions related to how access to credit affects the nature of business cycles. First, does the standard theory of unsecured credit account for the high volatility and procyclicality of credit and the high volatility and countercyclicality of bankruptcy filings found in U.S. data?...
Persistent link: https://www.econbiz.de/10013045963
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Credit, bankruptcy, and aggregate fluctuations
Nakajima, Makoto; Ríos-Rull, José-Víctor - 2019
We document the cyclical properties of unsecured consumer credit (procyclical and volatile) and of consumer bankruptcies (countercyclical and very volatile). Using a growth model with household heterogeneity in earnings and assets with access to unsecured credit (because of bankruptcy costs) and...
Persistent link: https://www.econbiz.de/10012197797
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Consumer Bankruptcy : The Role of Financial Frictions
Li, Tsung-Hsien - 2022
How do financial frictions affect household borrowing and default behavior? To what extent does frictional financial intermediation influence the welfare implications of consumer bankruptcy regulations? To quantitatively address these questions, I develop an Aiyagari-type model with consumer...
Persistent link: https://www.econbiz.de/10013403726
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Minimum wage and financially distressed firms: another one bites the dust
Alexandre, Fernando; Bação, Pedro; Cerejeira, João; … - 2020
Since late 2014, Portuguese Governments adopted ambitious minimum wage policies. Using linked employer-employee data, we provide an econometric evaluation of the impact of those policies. Our estimates suggest that minimum wage increases reduced employment growth and profitability, in particular...
Persistent link: https://www.econbiz.de/10012256211
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Minimum Wage and Financially Distressed Firms : Another One Bites the Dust
Alexandre, Fernando - 2020
Since late 2014, Portuguese Governments adopted ambitious minimum wage policies. Using linked employer-employee data, we provide an econometric evaluation of the impact of those policies. Our estimates suggest that minimum wage increases reduced employment growth and profitability, in particular...
Persistent link: https://www.econbiz.de/10012827335
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Insolvency after the 2005 bankruptcy reform
Albanesi, Stefania; Nosal, Jaromir - 2015
, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and …. We find that the decline in bankruptcy filings resulted in a rise in the rate and persistence of insolvency as well as an … that insolvency is associated with worse financial outcomes than bankruptcy, as insolvent individuals have less access to …
Persistent link: https://www.econbiz.de/10010505950
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The effect of minimum wages on consumer bankruptcy
Legal, Diego; Young, Eric R. - 2022
Persistent link: https://www.econbiz.de/10013375146
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The effect of minimum wages on consumer bankruptcy
Legal, Diego; Young, Eric R. - In: Journal of economics and business 129 (2024), pp. 1-25
Persistent link: https://www.econbiz.de/10015066055
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Who invests in home equity to exempt wealth from bankruptcy?
Corradin, Stefano; Gropp, Reint; Huizinga, Harry - 2011
Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income...
Persistent link: https://www.econbiz.de/10009006623