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Foreclosure loss severity and distressed home mortgage refinance

Graff, Richard A. - In: Journal of property investment & finance 35 (2017) 3, pp. 244-263

Persistent link: https://www.econbiz.de/10011706869

How Much Should Debtors be Punished in Case of Default?

Araujo, Aloisio; Funchal, Bruno - In: Journal of Financial Services Research 47 (2015) 2, pp. 229-245

This study investigates the relationship between debtor punishment and the development of the credit market. We empirically analyze how the level of debtor punishment relates to the credit market expansion. We find evidence that an increase in debtor punishment tends to produce a positive effect...

Persistent link: https://www.econbiz.de/10011241839

Effects of the BAPCPA on the chapter composition of consumer bankruptcies

Cornwell, Christopher; Xu, Bing - In: Economics Letters 124 (2014) 3, pp. 439-442

The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act limited homestead exemptions and imposed means test to …

Persistent link: https://www.econbiz.de/10010930716

Health insurance and the consumer bankruptcy decision: Evidence from expansions of Medicaid

Gross, Tal; Notowidigdo, Matthew J. - In: Journal of Public Economics 95 (2011) 7, pp. 767-778

fraction of consumer bankruptcy decisions. In this paper, we assess the contribution of medical costs to household bankruptcy …

Persistent link: https://www.econbiz.de/10010574322

Optimal Personal Bankruptcy Design under Moral Hazard

Grochulski, Borys - In: Review of Economic Dynamics 13 (2010) 2, pp. 350-378

In this paper, we develop a normative theory of unsecured consumer credit and personal bankruptcy based on the optimal … unsecured debts in bankruptcy. The structure of this equilibrium and the associated restrictions on debt discharge closely match … the main qualitative features of personal credit markets and bankruptcy law that actually exist in the United States …

Persistent link: https://www.econbiz.de/10005009768

The Housing Crisis and Bankruptcy Reform: The Prepackaged Chapter 13 Approach

Posner, Eric A; Zingales, Luigi - C.E.P.R. Discussion Papers - 2009

reform of Chapter 13 that would allow homeowners to strip down the value of their mortgages in a prepackaged bankruptcy. Such … rubber stamp by a bankruptcy judge or other official, thus preserving judicial resources. Other plans, including that of the …

Persistent link: https://www.econbiz.de/10005666502

Costly Contracts and Consumer Credit

Livshits, Igor; MacGee, James; Tertilt, Michèle - C.E.P.R. Discussion Papers - 2011

Financial innovations are a common explanation of the rise in consumer credit and bankruptcies. To evaluate this story, we develop a simple model that incorporates two key frictions: asymmetric information about borrowers’ risk of default and a fixed cost to create each contract offered by...

Persistent link: https://www.econbiz.de/10009322977

Design of insolvency regimes across countries

McGowan, Muge Adalet; Andrews, Dan - 2018

This paper explores cross-country differences in the design of insolvency regimes, based on quantitative indicators constructed from countries’ responses to a recent OECD policy questionnaire. The indicators – which are available for 36 countries for 2010 and 2016 – aim to better capture...

Persistent link: https://www.econbiz.de/10011914641

Insolvency regimes, zombie firms and capital reallocation

McGowan, Muge Adalet; Andrews, Dan; Millot, Valentine - 2017

This paper explores cross-country differences in the design of insolvency regimes and their potential links with two inter-related sources of labour productivity weakness: the survival of “zombie” firms (firms that would typically exit in a competitive market) and capital misallocation. New...

Persistent link: https://www.econbiz.de/10011700546

Confronting the zombies : policies for productivity revival

Andrews, Dan; McGowan, Muge Adalet; Millot, Valentine - 2017

Policies that spur more efficient corporate restructuring can revive productivity growth by targeting three inter-related sources of labour productivity weakness: the survival of “zombie” firms (low productivity firms that would typically exit in a competitive market), capital misallocation...

Persistent link: https://www.econbiz.de/10011779088