Search Results
Working Paper
Household debt repayment behaviour: what role do institutions play?
Grant, Charles; Duygan-Bump, Burcu
(2008)
Household debt repayment behavior has been understudied, especially empirically, despite the heightened debate on rising household debt, personal bankruptcy filings, and arrears. In this paper, we use data from the European Community Household Panel to analyze the determinants of household debt arrears. The paper's primary aim is to understand the role of institutions in household arrears by exploiting cross-country differences and the panel nature of the data set. We start our analysis by showing that falling into arrears has important long-term consequences for employment, self-employment, ...
Supervisory Research and Analysis Working Papers
, Paper QAU08-3
Working Paper
Lending Standards and Borrowing Premia in Unsecured Credit Markets
Dempsey, Kyle; Ionescu, Felicia
(2021-06-24)
Using administrative data from Y-14M and Equifax, we find evidence for large spreads in excess of those implied by default risk in the U.S. unsecured credit market. These borrowing premia vary widely by borrower risk and imply a nearly flat relationship between loan prices and repayment probabilities, at odds with existing theories. To close this gap, we incorporate supply frictions – a tractably specified form of lending standards – into a model of unsecured credit with aggregate shocks. Our model matches the empirical incidence of both risk and borrowing premia. Both the level and ...
Finance and Economics Discussion Series
, Paper 2021-039
Journal Article
Will higher corporate debt worsen future recessions?
Faust, Jon
(1990-03)
Economic Review
, Volume 75
, Issue Mar
, Pages 19-34
Journal Article
A comparison of U.S. corporate and bank insolvency resolution
Kaufman, George G.; Bliss, Robert R.
(2006-04)
In the U.S., the insolvency resolution of most corporations is governed by the federal bankruptcy code and is administered by special bankruptcy courts. Most large corporate bankruptcies are resolved under Chapter 11 reorganization proceedings. However, commercial bank insolvencies are governed by the Federal Deposit Insurance Act and are administered by the FDIC. These two resolution processes?corporate bankruptcy and bank receiverships?differ in a number of significant ways, including the type of proceeding (judicial versus administrative); the rights of managers, stockholders, and ...
Economic Perspectives
, Volume 30
, Issue Q II
Working Paper
An anatomy of u.s. Personal bankruptcy under chapter 13
Li, Wenli; Eraslan, Hulya; Koşar, Gizem; Sarte, Pierre-Daniel G.
(2014-10-29)
We build a structural model of Chapter 13 bankruptcy that captures salient features of personal bankruptcy under Chapter 13. We estimate our model using a novel data set we construct from bankruptcy court dockets recorded in Delaware between 2001 and 2002. Our estimation results highlight the importance of debtor?s choice of repayment plan length on Chapter 13 outcomes under the restrictions imposed by the bankruptcy law. We use the estimated model to conduct policy experiments to evaluate the impact of more stringent provisions of Chapter 13 that impose additional restrictions on the length ...
Working Papers
, Paper 14-33
Working Paper
Unsecured debt with public insurance : from bad to worse
Simpson, Nicole B.; Athreya, Kartik B.
(2004)
In U.S. data, income interruptions, the receipt of public insurance, and the incidence of personal bankruptcy are all closely related. The central contribution of this paper is to evaluate both bankruptcy protection and public insurance in a unified setting where each program alters incentives in the other. Specifically, we explicitly allow for distortion created by the default option and public insurance to affect 1) risk-taking, 2) borrowing, and 3) search effort. Our analysis delivers two striking conclusions. First, we find that U.S. personal bankruptcy law is an important barrier to ...
Working Paper
, Paper 03-14
Working Paper
Credit access and credit performance after consumer bankruptcy filing: new evidence
Li, Wenli; Jagtiani, Julapa
(2013)
This paper uses a unique data set to shed new light on the credit availability and credit performance of consumer bankruptcy filers. In particular, our data allow us to distinguish between Chapter 7 and Chapter 13 bankruptcy filings, to observe changes in credit demand and supply explicitly, to differentiate existing and new credit accounts, and to observe the performance of each credit account directly. The paper has four main findings. First, despite speedy recovery in their risk scores after bankruptcy filing, most filers have much reduced access to credit in terms of credit limits, and ...
Working Papers
, Paper 13-24
Journal Article
Opinion : The economics of bankruptcy
Athreya, Kartik B.
(2005-07)
Econ Focus
, Volume 9
, Issue Sum
, Pages 56
Working Paper
Did bankruptcy reform cause mortgage default rates to rise?
White, Michelle J.; Li, Wenli; Zhu, Ning S.
(2010)
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. The authors argue ...
Working Papers
, Paper 10-16
Journal Article
Subprime foreclosures and the 2005 bankruptcy reform
Botsch, Matthew; Morgan, Donald P.; Iverson, Benjamin
(2012-03)
This article presents arguments and evidence suggesting that the bankruptcy abuse reform (BAR) of 2005 may have been one contributor to the destabilizing surge in subprime foreclosures. Before BAR took effect, overly indebted borrowers could file bankruptcy to free up income to pay their mortgage by having their credit card and other unsecured debts discharged. BAR eliminated that option for better-off filers through a means test and other requirements, thus making it harder to save one?s home by filing bankruptcy. By way of evidence, the authors show that the impact of BAR was greater in ...
Economic Policy Review
, Volume 18
, Issue Mar
, Pages 47-57
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of Philadelphia 34 items
Federal Reserve Bank of Richmond 25 items
Federal Reserve Bank of Chicago 24 items
Board of Governors of the Federal Reserve System (U.S.) 16 items
Federal Reserve Bank of St. Louis 15 items
Federal Reserve Bank of Boston 13 items
Federal Reserve Bank of Cleveland 11 items
Federal Reserve Bank of New York 9 items
Federal Reserve Bank of Kansas City 7 items
Federal Reserve Bank of Atlanta 5 items
Federal Reserve Bank of Minneapolis 3 items
Federal Reserve Bank of San Francisco 3 items
Federal Reserve Bank of Dallas 1 items
show more (8)
show less
FILTER BY Series
Working Papers 32 items
Finance and Economics Discussion Series 14 items
Working Paper 13 items
Chicago Fed Letter 8 items
Working Papers (Old Series) 8 items
Business Review 7 items
Economic Quarterly 7 items
Proceedings 7 items
Econ Focus 5 items
Speech 5 items
Communities and Banking 4 items
Staff Reports 4 items
Supervisory Research and Analysis Working Papers 4 items
Economic Commentary 3 items
Economic Review 3 items
Profitwise 3 items
Research Working Paper 3 items
Review 3 items
Working Paper Series 3 items
Conference Series ; [Proceedings] 2 items
Consumer Finance Institute discussion papers 2 items
Economic Perspectives 2 items
FRB Atlanta Working Paper 2 items
Federal Reserve Bulletin 2 items
Financial Update 2 items
Regional Review 2 items
The Regional Economist 2 items
Community Affairs Research Working Paper 1 items
Economic Insights 1 items
Economic Policy Review 1 items
FRBSF Economic Letter 1 items
Fedgazette 1 items
Globalization Institute Working Papers 1 items
Liberty Street Economics 1 items
New England Economic Review 1 items
On the Economy 1 items
Pacific Basin Working Paper Series 1 items
Research Rap Special Report 1 items
Staff Report 1 items
TEN 1 items
Working Paper Series, Issues in Financial Regulation 1 items
show more (36)
show less
FILTER BY Content Type
Working Paper 83 items
Journal Article 52 items
Conference Paper 9 items
Newsletter 8 items
Report 5 items
Speech 5 items
Discussion Paper 3 items
show more (2)
show less
FILTER BY Author
Athreya, Kartik B. 22 items
Li, Wenli 15 items
Sanchez, Juan M. 11 items
Mather, Ryan 8 items
Mustre-del-Rio, Jose 8 items
Chatterjee, Satyajit 6 items
Han, Song 5 items
Longhofer, Stanley D. 5 items
Sarte, Pierre-Daniel G. 5 items
Garrett, Thomas A. 4 items
Tam, Xuan S. 4 items
Young, Eric 4 items
Berlin, Mitchell 3 items
Bliss, Robert R. 3 items
Cohen-Cole, Ethan 3 items
Dempsey, Kyle 3 items
Duygan-Bump, Burcu 3 items
Edmiston, Kelly D. 3 items
Mattoon, Richard H. 3 items
Mester, Loretta J. 3 items
Mikhed, Vyacheslav 3 items
Mirza, Helen 3 items
Morgan, Donald P. 3 items
Rios-Rull, Jose-Victor 3 items
Scholnick, Barry 3 items
Wall, Howard J. 3 items
White, Michelle J. 3 items
Amromin, Gene 2 items
Baxter, Thomas C. 2 items
Berkowitz, Jeremy 2 items
Botsch, Matthew 2 items
Corbae, Dean 2 items
Dick, Astrid A. 2 items
Elul, Ronel 2 items
Eraslan, Hulya 2 items
Fitzpatrick, Thomas J. 2 items
Georgellis, Yannis 2 items
Grochulski, Borys 2 items
Helwege, Jean 2 items
Iverson, Benjamin 2 items
Jagtiani, Julapa 2 items
Keys, Benjamin J. 2 items
Kowalewski, K. J. 2 items
Lehnert, Andreas 2 items
Li, Geng 2 items
Paulson, Anna L. 2 items
Stavins, Joanna 2 items
Thomson, James B. 2 items
Traub, Paul 2 items
Wetmore, Sarah 2 items
anonymous 2 items
Acharya, Sankarshan 1 items
Agarwal, Sumit 1 items
Akyol, Ahmet 1 items
Ashcraft, Adam B. 1 items
Azariadis, Costas 1 items
Benton, Kenneth J. 1 items
Benzoni, Luca 1 items
Berkowitz, Daniel 1 items
Bernhardt, Dan 1 items
Boslett, Andrew J. 1 items
Brave, Scott 1 items
Brave, Scott A. 1 items
Brown, Jason 1 items
Campbell, Doug 1 items
Campbell, John 1 items
Carey, Mark S. 1 items
Cargill, Thomas F. 1 items
Carroll, Sarah W. 1 items
Chabot, Benjamin 1 items
Chomsisengphet, Souphala 1 items
Cole, Ross 1 items
Covitz, Daniel M. 1 items
Dahiya, Sandeep 1 items
Dahlgren, Sarah J. 1 items
Darolia, Rajeev 1 items
Denison, Erin 1 items
Dudley, William 1 items
Erce, Aitor 1 items
Espinosa-Vega, Marco A. 1 items
Eugeni, Francesca 1 items
Evans, Charles L. 1 items
Exler, Florian 1 items
Faust, Jon 1 items
Fisher, Kate 1 items
Fleming, Michael J. 1 items
Frederick, Cristin 1 items
Furletti, Mark 1 items
Garlappi, Lorenzo 1 items
Glick, Reuven 1 items
Goldstein, Robert S. 1 items
Gordon, Grey 1 items
Gordy, Michael B. 1 items
Gottardi, Piero 1 items
Gramlich, Edward M. 1 items
Grant, Charles 1 items
Gross, David B. 1 items
Himmelstein, David U. 1 items
Hines, Richard 1 items
Hugonnier, Julien 1 items
Ionescu, Felicia 1 items
James, Christopher M. 1 items
Janicki, Hubert P. 1 items
John, Kose 1 items
Jossi, Frank 1 items
Kaas, Leo 1 items
Kaufman, George G. 1 items
Kehoe, Timothy J. 1 items
Kotlikoff, Laurence J. 1 items
Koşar, Gizem 1 items
Lacker, Jeffrey M. 1 items
Levin, Andrew T. 1 items
Levine, David K. 1 items
Livshits, Igor 1 items
Long, Cheryl 1 items
Luckett, Charles A. 1 items
MacGee, James 1 items
Maki, Dean M. 1 items
Manuelli, Rodolfo E. 1 items
Marcuss, Mamie 1 items
Mason, Joseph R. 1 items
McDonald, Robert 1 items
Meghir, Costas 1 items
Monnet, Cyril 1 items
Montoriol-Garriga, Judit 1 items
Nakajima, Makoto 1 items
Nakamura, Leonard I. 1 items
Natalucci, Fabio M. 1 items
Neely, Michelle Clark 1 items
Nichols, Mark W. 1 items
Noe, Thomas H. 1 items
Normandin, Charles P. 1 items
Nosal, Ed 1 items
Oswald, Florian 1 items
Ott, Lesli S. 1 items
Parker, Elliott 1 items
Pellerin, Sabrina 1 items
Peristiani, Stavros 1 items
Peters, Stephen R. 1 items
Plosser, Charles I. 1 items
Puri, Manju 1 items
Ramirez, Gabriel G. 1 items
Ritter, Dubravka 1 items
Sabarwal, Tarun 1 items
Sarkar, Asani 1 items
Savino, Vanessa 1 items
Simpson, Nicole B. 1 items
Skiba, Paige M. 1 items
Slivinski, Stephen 1 items
Smith, Bruce 1 items
Smith, Stephen D. 1 items
Souleles, Nicholas S. 1 items
Tertilt, Michele 1 items
Tewari, Ishani 1 items
Tobacman, Jeremy 1 items
Venkataraman, Subu 1 items
Walker, John L. 1 items
Walter, John R. 1 items
Warren, Elizabeth 1 items
Weber, Jeremy G. 1 items
Wilson, Beth Anne 1 items
Woolhandler, Steffie 1 items
Yan, Ying 1 items
Ying, Chao 1 items
Zakrajšek, Egon 1 items
Zha, Tao 1 items
Zhu, Ning S. 1 items
show more (162)
show less
FILTER BY Jel Classification
E21 13 items
E44 10 items
G12 9 items
G21 9 items
G33 9 items
D31 8 items
D58 7 items
G11 7 items
K35 7 items
D14 3 items
G23 3 items
G32 3 items
G51 3 items
D82 2 items
E32 2 items
G18 2 items
G22 2 items
C14 1 items
D12 1 items
D18 1 items
D41 1 items
D52 1 items
D53 1 items
D91 1 items
E24 1 items
E43 1 items
E49 1 items
E51 1 items
G01 1 items
G02 1 items
G14 1 items
G28 1 items
H31 1 items
I22 1 items
J22 1 items
J31 1 items
K10 1 items
Q33 1 items
show more (33)
show less
FILTER BY Keywords
Bankruptcy 166 items
Credit 15 items
Consumer credit 15 items
Foreclosure 12 items
Financial Distress 9 items
Consumption 8 items
Debt 8 items
Delinquency 8 items
Finance, Personal 6 items
Financial crises 6 items
Financial markets 6 items
Mortgage 6 items
Corporations - Finance 5 items
Default 5 items
Bank loans 4 items
Credit cards 4 items
Default (Finance) 4 items
Geography 4 items
Insurance 4 items
Loans 4 items
Risk 4 items
Capital 4 items
Credit Card Debt 4 items
Bank failures 3 items
Credit Card 3 items
Financial institutions 3 items
Great Recession 3 items
Liquidity (Economics) 3 items
Loans, Personal 3 items
Mortgage loans 3 items
Recession 3 items
Systemic risk 3 items
Unemployment 3 items
Bank capital 2 items
Bank liquidity 2 items
Bank supervision 2 items
Banking law 2 items
Bonds 2 items
Business enterprises 2 items
Business failures 2 items
Consumption (Economics) 2 items
Federal Reserve Bank of New York 2 items
Federal Reserve System 2 items
Financial risk management 2 items
Financial stability 2 items
Global financial crisis 2 items
Home ownership 2 items
Mortgages 2 items
Small business 2 items
Subprime mortgage 2 items
Taxation 2 items
Bankruptcy Reform 2 items
Consumer Debt 2 items
Credit Scores 2 items
Financial Literacy 2 items
Labor Supply 2 items
Unsecured Consumer Credit 2 items
Agricultural credit 1 items
American International Group (AIG) 1 items
Asset Pricing 1 items
Assets 1 items
BAPCPA 1 items
Bank competition 1 items
Bank mergers 1 items
Banking structure 1 items
Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) 1 items
Banks and banking - Asia 1 items
Bond Interest Rates 1 items
Borrowing premia 1 items
Business conditions 1 items
Business cycle 1 items
Business cycles 1 items
COVID-19 1 items
Capital Structure 1 items
Capital and Ownership Structure 1 items
Chapter 11 1 items
China 1 items
Coase Conjecture 1 items
Commitment 1 items
Conspicuous consumption 1 items
Consumer behavior 1 items
Consumer credit - Law and legislation 1 items
Consumer finance 1 items
Consumer protection 1 items
Contracts 1 items
Coronavirus 1 items
Credit Spreads 1 items
Credit derivatives 1 items
Credit performance 1 items
Credit risk 1 items
Credit scoring systems 1 items
Creditor protection 1 items
Cross-Subsidization 1 items
Debt default 1 items
Derivative securities 1 items
Detroit 1 items
Detroit Economic Activity Index 1 items
Detroit economic activity index (DEAI) 1 items
Discrimination in consumer credit 1 items
Econometric models 1 items
Economic policy 1 items
Economy 1 items
Education 1 items
Employment 1 items
Exogenous shocks 1 items
Federal Deposit Insurance Corporation 1 items
Federal Reserve District, 10th 1 items
Federal Reserve District, 8th 1 items
Federal Reserve District, 9th 1 items
Financial Mistakes 1 items
Financial Regulation 1 items
Financial Regulatory Reform (Dodd-Frank Act) 1 items
Financial Risk and Risk Management 1 items
Financial crisis 1 items
Financing Policy 1 items
Fore- closure 1 items
Gambling industry 1 items
Georgia 1 items
Globalization 1 items
Goodwill 1 items
Health care reform 1 items
Heterogeneous agents 1 items
Households 1 items
Housing 1 items
Idiosyncratic risk 1 items
Income inequality 1 items
Income shocks 1 items
Incomplete markets 1 items
Indonesia 1 items
Inequality 1 items
Interest rates 1 items
Issuance Costs 1 items
Korea 1 items
Law and legislation 1 items
Lehman Brothers 1 items
Leverage 1 items
Life cycle 1 items
Lifecycle 1 items
Liquidation 1 items
Liquidity 1 items
Local government 1 items
Lottery 1 items
Maturity 1 items
Means Test 1 items
Money 1 items
Moral hazard. 1 items
Mortgage Default 1 items
Mortgage credit 1 items
Mortgage-backed securities 1 items
Municipal bonds 1 items
Natural disasters 1 items
Over-Optimism 1 items
Over-the-counter markets 1 items
Persistent Private Information. 1 items
Persistent private information 1 items
Portfolio management 1 items
Poverty 1 items
Predatory lending 1 items
Private Investment 1 items
Reccession 1 items
Recessions 1 items
Resource booms 1 items
Restrictions 1 items
Retail trade 1 items
Russia 1 items
Securities 1 items
Securities and Exchange Commission 1 items
Self-employed 1 items
Stocks 1 items
Stored-value cards 1 items
Strip-down 1 items
Student Loans 1 items
Swaps (Finance) 1 items
Taiwan 1 items
Thailand 1 items
Trading Volume 1 items
Travel Costs 1 items
Type Score 1 items
Unbanked 1 items
Value of Firms 1 items
credit limits 1 items
crisis 1 items
customer employee losses 1 items
options 1 items
poor fiscal conditions 1 items
recovery rates 1 items
regulation 1 items
show more (192)
show less