We estimate how the marginal propensity to consume (MPC) out of liquidity varies over the
business cycle. Ten years after a Chapter 7 bankruptcy, the bankruptcy flag is removed from …

Chapter 11 is thought to preserve the going-concern surplus of a financially distressed
business-the extra value that its assets possess in their current configuration. Financial …

This paper studies the role of job displacement in the household bankruptcy decision. Using
an event-study methodology, I find that NLSY respondents are over three times more likely …

We propose a theory of unsecured consumer credit where:(i) borrowers have the legal
option to default;(ii) defaulters are not exogenously excluded from future borrowing;(iii) there …

Studies have shown that a growing number of divorced women were experiencing debt
repayment problems during the 1980s. This study uses data from the Panel Study of Income …

This study examined the impact of declaring consumer bankruptcy on the physical and
mental health of adult women and if outcomes differed depending on whether the filer …

Conventional wisdom holds that individuals who have gone bankrupt face difficulties getting
credit for at least some time. However, there is very little non-survey based empirical …

We examine the effects of the bankruptcy benefit and adverse events on the consumer
bankruptcy decision. Employing zero‐inflated ordered probit models and a unique …

Conventional wisdom holds that individuals find it difficult to obtain new credit post-
bankruptcy. Using credit bureau data, we test this hypothesis and show that more than 90 …

This article takes a first step in evaluating a commonly used assumption in recent
quantitative analyses of unsecured household borrowing--the temporary exclusion of …