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Corporate failures and accounting scandals had shaken the foundations of investors’ confidence in the transparency, integrity and accountability of corporations and financial markets. There had also been public disquiet about the role of professional auditors and audit firms, who had been...
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Prolog -- Wirtschaftskrieg als neues ökonomisches Paradigma -- Die Geburt des Wirtschaftskriegs aus dem Geiste der Rivalität -- Das Menschen- und das Ordnungsbild im Wirtschaftskrieg -- Der institutionelle Rahmen des Wirtschaftskriegs -- Kooperative und agonale Theorien des Staats --...
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Bankruptcy reform in 2005 eliminated debtors’ ability to discharge private student loan debt in bankruptcy. This law … bankruptcy even if they had sufficient income to service their debt. Using a unique, nationally representative sample of … anonymized credit bureau files, we examine the bankruptcy filing and delinquency rates of private student loan borrowers in …
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In many countries, lenders are restricted in their access to information about borrowers' past defaults. The authors study this provision in a model of repeated borrowing and lending with moral hazard and adverse selection. They analyze its effects on borrowers' incentives and access to credit,...
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