| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13363 |
| 来源ID | Working Paper 13363 |
| Accounting for the Rise in Consumer Bankruptcies | |
| Igor Livshits; James MacGee; Michèle Tertilt | |
| 发表日期 | 2007-09-06 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Personal bankruptcies in the United States have increased dramatically, rising from 1.4 per thousand working age population in 1970 to 8.5 in 2002. We use a heterogeneous agent life-cycle model with competitive financial intermediaries who can observe households' earnings, age and current asset holdings to evaluate several commonly offered explanations. We find that increased uncertainty (income shocks, expense uncertainty) cannot quantitatively account for the rise in bankruptcies. Instead, the rise in filings appears to mainly reflect changes in the credit market environment. We find that credit market innovations which cause a decrease in the transactions cost of lending and a decline in the cost of bankruptcy can largely accounting for the rise in consumer bankruptcy. We also argue that the abolition of usury laws and other legal changes are unimportant. |
| 主题 | Macroeconomics ; Consumption and Investment ; Money and Interest Rates ; Financial Economics ; Financial Markets ; Other ; Law and Economics |
| URL | https://www.nber.org/papers/w13363 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571035 |
| 推荐引用方式 GB/T 7714 | Igor Livshits,James MacGee,Michèle Tertilt. Accounting for the Rise in Consumer Bankruptcies. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13363.pdf（531KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
