This survey discusses recent contributions to the quantitative literature on unsecured
consumer debt and default, and some ongoing challenges for the literature. Key topics …

Unemployed households' access to unsecured revolving credit more than tripled over the
last three decades. This article analyses how both cyclical fluctuations and trend increases …

How do consumer credit markets affect the allocation of workers to firms, output, and labour
productivity? We address this question in two steps. First, we use new micro-data to estimate …

We use a labor‐search model to explain why the worst employment slumps often follow
expansions of household debt. We find that households protected by limited liability suffer …

Following the Basel II convention, consumer credit default is commonly defined as
delinquency beyond a period of 90 days. In this study, rather than considering default as a …

This study proposes an advanced credit evaluation method for nonperforming consumer
loans, which may serve as a new investment opportunity in the post-pandemic era. Our …

Purpose This study investigates the relation of bank loan delinquencies to Fed Survey
delinquency data from 2003 to 2017. Bank-generated loans have lower delinquencies than …

The Chapter 7 bankruptcy code was motivated by the notion of a “fresh start,” which was
justified in part by the Supreme Court on the grounds that it would encourage work …

The onset of the housing and subsequent financial crisis in 2008 marked the steepest
economic downturn in the United. States, since the Great Depression in the late 1920s and …

This paper quantifies the impact of borrowing constraints on consumption and earnings
inequality in a life-cycle model with labor market search and endogenous human capital …