Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/60960 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorMorgan, Donald P.en
dc.contributor.authorIverson, Benjaminen
dc.contributor.authorBotsch, Matthewen
dc.date.accessioned2010-04-30-
dc.date.accessioned2012-08-17T14:38:36Z-
dc.date.available2012-08-17T14:38:36Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/60960-
dc.description.abstractWe argue that the 2005 bankruptcy abuse reform (BAR) 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. We identify 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. Difference-in-difference regressions confirm four predictions implied by that identification strategy. Our findings add to research trying to explain the surge in subprime foreclosures and to a broader literature on household bankruptcy demand and credit supply.en
dc.language.isoengen
dc.publisher|aFederal Reserve Bank of New York |cNew York, NYen
dc.relation.ispartofseries|aStaff Report |x358en
dc.subject.jelG21en
dc.subject.jelG33en
dc.subject.jelK35en
dc.subject.ddc330en
dc.subject.keywordBankruptcyen
dc.subject.keywordsubprime foreclosuresen
dc.subject.keywordsubprime mortgagesen
dc.subject.keywordunsecured debten
dc.subject.keywordcredit card debten
dc.subject.keywordhome equity exemptionsen
dc.subject.keywordcram-downen
dc.titleSeismic effects of the bankruptcy reform-
dc.typeWorking Paperen
dc.identifier.ppn593786254en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Datei(en):
Datei
Größe
732.64 kB





Publikationen in EconStor sind urheberrechtlich geschützt.