the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We … youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low …

A personal bankruptcy law that allows for a "fresh start" after bankruptcy reduces the individual risk involved in … entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy … forgiving personal bankruptcy law are less relevant for wealthy potential entrepreneurs who still risk losing their wealth, but …

the bankruptcy code in Germany that effectively removes their potential impact on CDS firms. Using a unique dataset on …

bankruptcy as a verifiable event that occurs whenever the agent makes a per period loss. This leads to less stringent truth …

We develop a theoretical model of mortgage loss rates that evaluates their main underlying risk factors. Following the … mortgage loss rates. In addition, we show potential applications of the model for different macroprudential instruments: stress …

This paper uses a unique data set on more than 600,000 mortgage contracts to estimate a credit supply function which … are suggestive of considerable risk heterogeneity with riskier borrowers penalised more for borrowing more. -- mortgage …

This paper uses mortgage data to construct a measure of terms on which households access to external finance, and … spread paid by risky borrowers in the mortgage market. There is evidence that the terms of access to external finance matter …