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 …

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 …

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 …

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 …

. Following bankruptcy reform, wealthier households under 50 reduced their arrears between 2004 and 2007. During the sub …