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 …

Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at … the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home … bankruptcy on account of unpaid medical bills. The bias is further stronger for households with mortgage finance, shorter house …

During the three decades following the enactment of the Bankruptcy Code, courts and commentators have been vexed by the … continues to abound.The main goal of this Article is to reconceptualize present-value analysis in consumer bankruptcy. It argues … that, as a positive matter, the Bankruptcy Code compels use of a discount rate that solely accounts for expected inflation …

The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) includes two educational provisions which … require debtors to complete an approved credit counseling course prior to filing for bankruptcy and a financial education …'s educational mandates. The goal was to track debtors through the entire bankruptcy process and assess the long-term impacts of the …

to the U.S. economy, and then consider the effect of alternative personal bankruptcy regimes. For reasonable parameter … values, a less lenient (higher post bankruptcy garnishment of income) bankruptcy law deters households with moderate … entrepreneurial ability from entering entrepreneurship, while variations in bankruptcy systems have negligible effects on higher …