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 …

driving asset prices to ‘overshoot’ equilibrium when an asset bubble bursts - threatening widespread insolvency and what … to crisis resolution. The usual bankruptcy procedures for doing this fail to internalise the price effects of asset ‘fire …

under limited liability should be characterized by higher than average insolvency and employment growth rates. We test these … without losses to creditors, and bankruptcy as forced liquidation. We demonstrate that firms under limited liability are … characterized by higher growth and higher insolvency rates than comparable firms under full liability. Surprisingly, the likelihood …

, 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 …

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