| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24934 |
| 来源ID | Working Paper 24934 |
| Insolvency After the 2005 Bankruptcy Reform | |
| Stefania Albanesi; Jaromir Nosal | |
| 发表日期 | 2018-08-27 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) is the most important reform of personal bankruptcy in the United States in recent years. This legislation overhauled eligibility requirements and increased monetary costs of filing for bankruptcy. Using administrative credit file data from a nationally representative panel, we quantify the effects of the reform on bankruptcy, insolvency, and foreclosure, we explore the mechanism generating these responses and examine the consequences for households. We find that the reform caused a 50% permanent drop in Chapter 7 filings, a 25% permanent rise in insolvency, but had no effect on Chapter 13 filings. Exploiting the cross-district variation in filing costs resulting from the reform, we show that these responses are driven by liquidity constraints associated with the higher monetary cost of filing for bankruptcy. We show that insolvency is associated with worse outcomes than bankruptcy, in terms of access to credit and credit scores, suggesting that BAPCPA may have removed an important form of relief for financially distressed borrowers. |
| 主题 | Macroeconomics ; Consumption and Investment ; Money and Interest Rates ; Financial Economics ; Financial Markets ; Other ; Law and Economics |
| URL | https://www.nber.org/papers/w24934 |
| 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/582608 |
| 推荐引用方式 GB/T 7714 | Stefania Albanesi,Jaromir Nosal. Insolvency After the 2005 Bankruptcy Reform. 2018. |
| 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 | ||
| w24934.pdf（498KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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