Sanchez, Juan M.; Athreya, Kartik B.; Tam, Xuan S.; … - Federal Reserve Bank of St. Louis - 2014
decades. In this paper, we aim to measure the role jointly played by recent bankruptcy reforms and labor market risks during … the Great Recession in accounting for the use of consumer credit and debt default. We use a setting that features high … before. Shortly after, the US began to experience its most severe recession in seventy years. While personal bankruptcy rates …