How does bankruptcy affect the dynamics of aggregate consumption? We quantify the trade-off between the insurance and … creditworthiness effects of bankruptcy in response to tighter credit. We show that bankruptcy dampens the effect of tighter credit on … market reduces consumption smoothing over time and slows the recovery. Default costs play a crucial role in bankruptcy …

Spanish Insolvency Law dates back to 2003, but Spain is one of very few European countries lacking specific legislation … on consumer insolvency, even though the latest amendment to this law envisaged regulations on consumer insolvency in the …. This explains the need for a special approach to the issue of consumer insolvency, recently more geared towards specific …

This paper argues that the debt forgiveness provided by the U.S. consumer bankruptcy system helped stabilize employment … levels during the Great Recession. We document that over this period, states with more generous bankruptcy exemptions had …-post debt forgiveness provided by the consumer bankruptcy system during the Great Recession increased aggregate employment by …

already reduced their non-housing expenditures to below the recommended minimum level used in the personal insolvency system …

Bankruptcy Demographics Report is the second year of research to capture information on American debtors filing bankruptcy during … demographics of debtors that may be attributable to the recession. These two years show 24 months of Americans filing bankruptcy … bankruptcy process.As in years past, the average American in financial distress and seeking credit counseling and financial …

This study aims to develop nine different consumer bankruptcy forecasting models with the help of three types of … following questions - (a) Are the three commonly implemented types of neural networks useful in forecasting personal bankruptcy … maximum effectiveness?; (d) Are the newly developed types of ratios effective in forecasting personal risk bankruptcy? The …