Seismic Effects Of The Bankruptcy Reform
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Author | : Donald P. Morgan |
Publisher | : DIANE Publishing |
Total Pages | : 30 |
Release | : 2010-08 |
Genre | : Law |
ISBN | : 1437929818 |
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.
Author | : Donald P. Morgan |
Publisher | : |
Total Pages | : 30 |
Release | : 2012 |
Genre | : |
ISBN | : |
We argue that the 2005 bankruptcy abuse reform (BAR) contributed to the surge in subprime foreclosures that followed its passage. Before BAR, distressed mortgagors could free up income 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.
Author | : Merchants' Association of New York. Committee on Bankruptcy Reform |
Publisher | : |
Total Pages | : 0 |
Release | : 1924 |
Genre | : Bankruptcy |
ISBN | : |
Author | : Commerce and Industry Association of New York. Committee on Bankruptcy Reform |
Publisher | : |
Total Pages | : 0 |
Release | : 1924 |
Genre | : Bankruptcy |
ISBN | : |
Author | : United States. Congress. Senate. Committee on the Judiciary |
Publisher | : |
Total Pages | : 272 |
Release | : 2008 |
Genre | : Law |
ISBN | : |
Author | : Mark G. DeGiacomo |
Publisher | : |
Total Pages | : 470 |
Release | : 1996 |
Genre | : Bankruptcy |
ISBN | : |
Author | : American Bar Association. Section of Corporation, Banking, and Business Law |
Publisher | : |
Total Pages | : 68 |
Release | : 1981 |
Genre | : Bankruptcy |
ISBN | : |
Author | : A.S. Pratt & Sons |
Publisher | : |
Total Pages | : 24 |
Release | : 2005 |
Genre | : Bankruptcy |
ISBN | : |
Author | : Michelle Laque Johnson |
Publisher | : |
Total Pages | : 92 |
Release | : 1994 |
Genre | : Bankruptcy |
ISBN | : |
Author | : Kenneth E. Scott |
Publisher | : Hoover Institution Press |
Total Pages | : 0 |
Release | : 2015 |
Genre | : Business & Economics |
ISBN | : 9780817918842 |
"Working Group on Economic Policy"--Page opposite title page.