In this paper we investigate whether a standard life-cycle model in which households
purchase nondurable consumption and consumer durables and face idiosyncratic income …

Bankruptcy is the legal process by which the debts of firms, individuals, and occasionally
governments in financial distress are resolved. Bankruptcy law always includes three …

I study the implications of two major debt-relief policies in the United States: the Bankruptcy
Abuse Prevention and Consumer Protection Act (BAPCPA) and the Home Affordable …

Using data from the PSID, we estimate a dynamic model of housing demand with nonconvex
adjustment costs, credit constraints, and uncertainty about income and home prices. We …

A rich literature uses law and social science methods to better understand household
financial distress and overindebtedness both inside and outside of bankruptcy. This …

Homeowners in financial distress can use bankruptcy to avoid defaulting on their mortgages,
since filing loosens their budget constraints. But the 2005 bankruptcy reform made …

ABSTRACT The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act
(BAPCPA) is the most important reform of personal bankruptcy in the United States in recent …

This paper examines how filing for bankruptcy under Chapter 13 helps financially distressed
homeowners. We develop a model of debtors' decisions to default on their mortgages and …

In this paper we examine the relationship between homeowners' bankruptcy decisions and
their mortgage default decisions and the relationship between homeowners' bankruptcy …

This paper measures the effects of subsidies in the Affordable Care Act on adverse financial
outcomes using administrative tax data and credit data on financial outcomes. Using a …