| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15968 |
| 来源ID | Working Paper 15968 |
| Did Bankruptcy Reform Cause Mortgage Default to Rise? | |
| Wenli Li; Michelle J. White; Ning Zhu | |
| 发表日期 | 2010-05-06 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper argues that the U.S. bankruptcy reform of 2005 played an important role in the mortgage crisis and the current recession. When debtors file for bankruptcy, credit card debt and other types of debt are discharged--thus loosening debtors' budget constraints. Homeowners in financial distress can therefore use bankruptcy to avoid losing their homes, since filing allows them to shift funds from paying other debts to paying their mortgages. But a major reform of U.S. bankruptcy law in 2005 raised the cost of filing and reduced the amount of debt that is discharged. We argue that an unintended consequence of the reform was to cause mortgage default rates to rise. |
| 主题 | Financial Economics ; Financial Institutions ; Other ; Law and Economics ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w15968 |
| 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/573643 |
| 推荐引用方式 GB/T 7714 | Wenli Li,Michelle J. White,Ning Zhu. Did Bankruptcy Reform Cause Mortgage Default to Rise?. 2010. |
| 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 | ||
| w15968.pdf（513KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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