I develop an equilibrium model of housing and default to jointly analyze the effects of bankruptcy and foreclosure … debt. I show that the interaction between foreclosure and bankruptcy decisions is crucial for explaining the observed cross …-state correlation between default policies and default rates. I use the model to argue that a major recent reform to bankruptcy reduced …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic … Bankruptcy policy …

bankruptcy asset exemptions and mortgage foreclosure laws on mortgage defaults across different segments of the mortgage market … statistically significant non-linear relationship between bankruptcy asset exemptions and mortgage defaults …This study analyzes whether bankruptcy asset exemptions and state foreclosure laws affect borrowers' decisions to …

In the U.S., individuals who file for bankruptcy can protect a certain amount of property from creditor liquidation … during the debt settlement process. Our analysis exploits changes in these laws to determine the impact on home mortgage …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic … Bankruptcy policy …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic … Bankruptcy policy. …

The recent explosion in personal bankruptcy filings has motivated research into whether credit markets are being … bankruptcy exemptions across states. We note that the literature has focused on aggregate household credit, making no distinction … significantly, property exemptions do not prevent the home mortgage lender from foreclosing on the home if not fully repaid …

Auto lenders were perhaps the biggest winners of the 2005 Bankruptcy Reform. Cars depreciate quickly, so borrowers … to the market value of the car through a "cramdown" in Chapter 13 bankruptcy. The Reform prohibited cramdowns during the … eliminating cramdowns affected only one of the two types of consumer bankruptcy: Chapter 13. They exploit persistent historical …

). The HDC can order an immediate repayment or grant a debt suspension. Exploiting the random assignment of bankruptcy … importance of regulation of credit distribution to avoid both entering into bankruptcy and re-filing for bankruptcy. …

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 …