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Limited personal liability for debts has long been justified as a tool to promote entrepreneurial risk taking by providing insurance to the borrower in the event of low returns. Nonetheless, such limits erode repayment incentives, and so may increase unsecured borrowing costs. Our paper is the...
Persistent link: https://www.econbiz.de/10004965400
A debtor’s right to have his or her debts dismissed or discharged via a bankruptcy proceeding is referred to as the law …’s “fresh start” provision. Fresh start has been — and continues to be — a controversial feature of the U.S. bankruptcy law …. Lately, the law has come under scrutiny because of the dramatic rise in personal bankruptcy filings over the past 25 years …
Persistent link: https://www.econbiz.de/10004967339
Since 1980, the number of households filing for bankruptcy has more than tripled. This drastic increase in personal … bankruptcy filings led to substantial debate among economists and policymakers. That debate subsequently resulted in the … enactment of extensive reforms in 2005 when Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act …
Persistent link: https://www.econbiz.de/10004967480
The Federal Reserve System’s 2007 Community Development Research Conference was held in Washington, D.C., on March 29-30, 2007. This conference was the fifth in a biennial series that the Federal Reserve System established in 1999. In “Financing Community Development: Learning from the Past,...
Persistent link: https://www.econbiz.de/10004967504
A large literature has examined factors leading to filing for personal bankruptcy, but little is known about household … borrowing after bankruptcy. Using data from the Survey of Consumer Finances, we find that relative to comparable nonfilers …, bankruptcy filers generally have more limited access to unsecured credit but borrow more secured debt post bankruptcy, and they …
Persistent link: https://www.econbiz.de/10004967554
This paper studies the legislation on bankruptcy introduced into Brazil by D.João VI (1808-1821) and shows how this …-assessing the economic policies enforced in this period. In fact the study of the bankruptcy legislation suggests that one of the …
Persistent link: https://www.econbiz.de/10004968622
Bankruptcy is an interesting object of research, being habitually perceived as a shocking and scandalous event … in general) extensively compares its characteristics with the existing members. Since Croatian bankruptcy law is for the … especially interesting for Croatian bankruptcy researchers. Even though being a part of the EU, the United Kingdom’s Anglo …
Persistent link: https://www.econbiz.de/10005789381
This paper analyses two aspects of banking crises: the choices that banks make to passively roll over loans in default versus actively pursuing their claims; and choices by regulators to ‘punish’ passive and insolvent banks versus rescuing them. Banks may choose to roll over loans in order...
Persistent link: https://www.econbiz.de/10005791205
The restructuring of a bankrupt company often entails a change of control. By efficiency of a bankruptcy procedure it …
Persistent link: https://www.econbiz.de/10005791713
This paper looks at simple decision rules in bankruptcy procedures. It describes special issues of enterprise … economic transformation influence the impact of bankruptcy regulation in a way distorting it towards liquidation. …
Persistent link: https://www.econbiz.de/10005791908