| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26254 |
| 来源ID | Working Paper 26254 |
| The Economic Consequences of Bankruptcy Reform | |
| Tal Gross; Raymond Kluender; Feng Liu; Matthew J. Notowidigdo; Jialan Wang | |
| 发表日期 | 2019-09-16 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | 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. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Financial Institutions ; Other ; Law and Economics ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w26254 |
| 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/583927 |
| 推荐引用方式 GB/T 7714 | Tal Gross,Raymond Kluender,Feng Liu,et al. The Economic Consequences of Bankruptcy Reform. 2019. |
| 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 | ||
| w26254.pdf（1035KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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