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The Economic Consequences Of Bankruptcy Reform
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Book Synopsis The Economic Consequences of Bankruptcy Reform by : Tal Gross
Download or read book The Economic Consequences of Bankruptcy Reform written by Tal Gross and published by . This book was released on 2019 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: A more generous consumer bankruptcy system provides greater insurance against financial risks, but it may also raise the cost of credit to consumers. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which raised the costs of filing for bankruptcy. We identify the effects of BAPCPA on borrowing costs by exploiting variation in the effects of the reform on bankruptcy risk across credit-score segments. Using a combination of administrative records, credit reports, and proprietary market-research data, we find that the reform reduced bankruptcy filings, and reduced the likelihood that an uninsured hospitalization received bankruptcy relief by 70 percent. BAPCPA led to a decrease in credit card interest rates, with an implied pass-through rate of 60-75 percent. Overall, BAPCPA decreased the gap in offered interest rates between prime and subprime consumers by roughly 10 percent.
Book Synopsis The Economics of Bankruptcy Reform by : Philippe Aghion
Download or read book The Economics of Bankruptcy Reform written by Philippe Aghion and published by . This book was released on 1992 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a new bankruptcy procedure. Initially, a firm's debts are cancelled, and cash and non-cash bids are solicited for the 'new" (all-equity) firm. Former claimants are given shares, or options to buy shares, in the new firm on the basis of absolute priority. Options are exercised once the bids are in. Finally, a shareholder vote is taken to select one of the bids. In essence, our procedure is a variant on the U.S. Chapter 7, in which non-cash bids are possible; this allows for reorganization. We believe our scheme is superior to Chapter 11 since it is simpler, quicker, market-based, avoids conflicts, and places appropriate discipline on management.
Book Synopsis Seismic Effects of the Bankruptcy Reform (rev. Ed. ) by : Donald P. Morgan
Download or read book Seismic Effects of the Bankruptcy Reform (rev. Ed. ) written by Donald P. Morgan and published by DIANE Publishing. This book was released on 2010-08 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2005 Bankruptcy Abuse Reform (BAR) act contributed to the surge in subprime foreclosures that followed its passage. Before BAR, over-indebted mortgagors could free up income to pay the mortgage by filing bankruptcy and having their unsecured debts discharged. BAR blocks that maneuver for better-off filers by way of a means test. Identifies the effects of BAR using state home equity bankruptcy exemptions; filers in low-exemption states were not very protected before BAR, so they would be less affected by the reform. Regressions confirm four predictions implied by that identification strategy. Adds to research trying to explain the surge in subprime foreclosures and to a broader literature on household bankruptcy demand and credit supply. Illustrations.
Book Synopsis The Economics of Bankruptcy Reform by :
Download or read book The Economics of Bankruptcy Reform written by and published by . This book was released on 1977 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Making Failure Feasible by : Kenneth E. Scott
Download or read book Making Failure Feasible written by Kenneth E. Scott and published by Hoover Institution Press. This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Working Group on Economic Policy"--Page opposite title page.
Book Synopsis Bankruptcy Reform and Its Implication on the Economy by : Harish Kamal
Download or read book Bankruptcy Reform and Its Implication on the Economy written by Harish Kamal and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study investigates the impact of bankruptcy reform, Insolvency and Bankruptcy Code (IBC) 2016, on the bank's transformation risk across Indian states. Using state-level data over the period of 2012 to 2019 and by employing a difference-in-difference methodology, we find a significant increase in the financial depth among states with high bank transformation risk compared to other states in the post-IBC period. Further exploration suggests that the IBC has relaxed entrepreneurs' financial constraints, causing an increase in the real economic activities among states with high transformation risk than those with low transformation risk. Furthermore, we find that the reform has significantly increased household income and reduced their reliance on the government-sponsored employment guarantee scheme. Our results are robust to a battery of tests on potential endogeneity concerns. Our study highlights the importance of a sound bankruptcy design to optimally balance the bargaining power of borrowers and lenders which essentially increases the pay-off of both parties during bankruptcy proceedings. That, in turn, contributes significantly to the financial and economic development across states.
Book Synopsis Bankrupt in America by : Mary Eschelbach Hansen
Download or read book Bankrupt in America written by Mary Eschelbach Hansen and published by University of Chicago Press. This book was released on 2020-02-05 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2005, more than two million Americans—six out of every 1,000 people—filed for bankruptcy. Though personal bankruptcy rates have since stabilized, bankruptcy remains an important tool for the relief of financially distressed households. In Bankrupt in America, Mary and Brad Hansen offer a vital perspective on the history of bankruptcy in America, beginning with the first lasting federal bankruptcy law enacted in 1898. Interweaving careful legal history and rigorous economic analysis, Bankrupt in America is the first work to trace how bankruptcy was transformed from an intermittently used constitutional provision, to an indispensable tool for business, to a central element of the social safety net for ordinary Americans. To do this, the authors track federal bankruptcy law, as well as related state and federal laws, examining the interaction between changes in the laws and changes in how people in each state used the bankruptcy law. In this thorough investigation, Hansen and Hansen reach novel conclusions about the causes and consequences of bankruptcy, adding nuance to the discussion of the relationship between bankruptcy rates and economic performance.
Book Synopsis Two Hundred Years of Bankruptcy by : Ian Domowitz
Download or read book Two Hundred Years of Bankruptcy written by Ian Domowitz and published by . This book was released on 1997 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bankruptcy Reform by : A.S. Pratt & Sons
Download or read book Bankruptcy Reform written by A.S. Pratt & Sons and published by . This book was released on 2005 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of Bankruptcy Reform by : John Hampton Moore
Download or read book The Economics of Bankruptcy Reform written by John Hampton Moore and published by . This book was released on 1978 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Regulatory Relief Publisher : ISBN 13 : Total Pages :112 pages Book Rating :4.F/5 ( download)
Book Synopsis Bankruptcy Reform by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Regulatory Relief
Download or read book Bankruptcy Reform written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Regulatory Relief and published by . This book was released on 1999 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Why So Many Bankruptcies and what to Do about it by : Todd J. Zywicki
Download or read book Why So Many Bankruptcies and what to Do about it written by Todd J. Zywicki and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis More on the Impact of Bankruptcy Reform by : Jocelyn Martel
Download or read book More on the Impact of Bankruptcy Reform written by Jocelyn Martel and published by . This book was released on 1996 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Courts Publisher : ISBN 13 : Total Pages :260 pages Book Rating :4.:/5 ( download)
Book Synopsis Bankruptcy Reform Act of 1978 by : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Courts
Download or read book Bankruptcy Reform Act of 1978 written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Courts and published by . This book was released on 1981 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Analysis of the Impact of the Bankruptcy Reform Act of 1978 by : William J. Boyes
Download or read book An Analysis of the Impact of the Bankruptcy Reform Act of 1978 written by William J. Boyes and published by . This book was released on 1985* with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Insolvency After the 2005 Bankruptcy Reform by : Stefania Albanesi
Download or read book Insolvency After the 2005 Bankruptcy Reform written by Stefania Albanesi and published by . This book was released on 2015 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a comprehensive panel data set on U.S. households, we study the effects of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), the most substantive reform of personal bankruptcy in the United States since the Bankruptcy Reform Act of 1978. The 2005 legislation introduced a means test based on income to establish eligibility for Chapter 7 bankruptcy and increased the administrative requirements to file, leading to a rise in the opportunity cost and, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and foreclosure. We find that the reform caused a permanent drop in the Chapter 7 bankruptcy rate relative to pre-reform levels, due to the rise in filing costs associated with the reform, which can be interpreted as resulting from liquidity constraints. We find that the decline in bankruptcy filings resulted in a rise in the rate and persistence of insolvency as well as an increase in the rate of foreclosure. We find no evidence of a link between the decline in bankruptcy and a rise in the number of individuals who are current on their debt. We document that these effects are concentrated at the bottom of the income distribution, suggesting that the income means tests introduced by BAPCPA did not serve as an effective screening device. We show that insolvency is associated with worse financial outcomes than bankruptcy, as insolvent individuals have less access to new lines of credit and display lower credit scores than individuals who file for bankruptcy. Since bankruptcy filings declined much more for low income individuals, our findings suggest that BAPCPA may have removed an important form of relief from financial distress for this group.
Book Synopsis Institutions, Incentives, and Consumer Bankruptcy Reform by : Todd J. Zywicki
Download or read book Institutions, Incentives, and Consumer Bankruptcy Reform written by Todd J. Zywicki and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
