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An Empirical Analysis of Personal Bankruptcy and Delinquency
Gross, David B. - 2001
This paper uses a new panel data set of credit card accounts to analyze credit card delinquency, personal bankruptcy …
Persistent link: https://www.econbiz.de/10012470309
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Ex Ante Costs of Violating Absolute Priority in Bankruptcy
Bebchuk, Lucian Arye - 2001
A basic question for the design of bankruptcy law concerns whether value should be divided in accordance with absolute …
Persistent link: https://www.econbiz.de/10012470332
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Rescue Packages and Output Losses Following Crises
Dooley, Michael P. - 2001
This paper examines the role of the third party (the IMF) in resolving sovereign default on external debt. We first show that the effects of third party intervention in debt negotiations are quite sensitive to the assumed enforcement mechanism for sovereign debt. The model is then adapted to an...
Persistent link: https://www.econbiz.de/10012470409
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A New Approach to Valuing Secured Claims in Bankruptcy
Bebchuk, Lucian Arye - 2001
would determine the value of collateral in such a way that no participant in the bankruptcy would have a basis for … of business bankruptcy and could constitute an important element of any proposal for bankruptcy reform …
Persistent link: https://www.econbiz.de/10012470448
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Different Approaches to Bankruptcy
Hart, Oliver - 2000
have turned their attention to the topic of bankruptcy. A large amount of work has resulted, both theoretical and empirical …, some of which has been concerned with the functioning of existing bankruptcy procedures and some with bankruptcy reform …, e.g., the goals of bankruptcy and some of the characteristics of an efficient bankruptcy procedure. This paper …
Persistent link: https://www.econbiz.de/10012470816
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Debt Restructuring
Friedman, Benjamin M. - 2000
What difference does it make, and for whom, whether the nonperforming debts of emerging market borrowers are restructured? This paper begins by positing a set of counterfactual conditions under which restructuring would not matter, and then shows how several ways in which the actual world of...
Persistent link: https://www.econbiz.de/10012471039
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Using Options to Divide Value in Corporate Bankruptcy
Bebchuk, Lucian Arye - 2000
This paper revisits the proposal to use options in corporate bankruptcy that was put forward in Bebchuk (1988 …). According to the proposed procedure, corporate bankruptcy should be implemented through the distribution to participants of … appropriately designed options. The paper starts by discussing the goals that should guide the design of bankruptcy procedures. The …
Persistent link: https://www.econbiz.de/10012471156
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An Economic Analysis of Transnational Bankruptcies
Bebchuk, Lucian Arye - 2000
territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy …
Persistent link: https://www.econbiz.de/10012471197
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Can Output Losses Following International Financial Crises be Avoided?
Dooley, Michael P. - 2000
Recent financial crises in emerging markets have been followed by temporary but substantial losses in output. This paper explores the possibility that threats of such losses are the dominant incentive for repayment of international debt. In this environment private debtors and creditors have...
Persistent link: https://www.econbiz.de/10012471243
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Capital Movements, Banking Insolvency, and Silent Runs in the Asian Financial Crisis
Kane, Edward J. - 2000
This paper supplies an agency-cost and contestable-markets perspective on the financial policies that triggered the Asian financial crisis. The agency-cost analysis hypothesizes that individual-country regulators knew that politically directed loans had made their banks insolvent, but...
Persistent link: https://www.econbiz.de/10012471262