providing an overview of consumer bankruptcy law in the US and document the relevant institutional changes over time. We proceed … implications of various bankruptcy laws? And second, what caused the rise in filings over time? We end with a discussion of open …

providing an overview of consumer bankruptcy law in the US and document the relevant institutional changes over time. We proceed … implications of various bankruptcy laws? And second, what caused the rise in filings over time? We end with a discussion of open …

access to unsecured credit (because of bankruptcy costs) and aggregate shocks, we show that the cyclical behavior of … credit match the sizes of credit and bankruptcy volatilities. We also find that when the right to file for bankruptcy does …

When a new act on bankruptcy law entered into force on 1 January 2016, it introduced changes in the scope of personal … bankruptcy. The article points to the economic aspects of legal solutions provided for in the new regulation for indebted natural … persons, significant on a micro and macro scale. At the same time, it points to the problems in the personal bankruptcy …

What are the positive and normative implications of eliminating bankruptcy protection for indebted individuals? Without … bankruptcy protection, creditors can collect on defaulted debt to the extent permitted by wage garnishment laws. The elimination …

intermediation influence the welfare implications of consumer bankruptcy regulations? To quantitatively address these questions, I … stricter bankruptcy regimes, through either higher wage garnishment or longer borrowing exclusion, result in aggregate welfare … gains. The welfare sensitivity to bankruptcy strictness depends positively on the degree of financial frictions …