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Why It Pays to File for Bankruptcy: A Critical Look at Incentives Under U.S. Bankruptcy Laws and A Proposal for Change

Author

Listed:
  • White, M.J.

Abstract

This article rst examines the economic justication for having a personal bankruptcy procedure at all. I argue that it is economically worthwhile to have a bankruptcy pro- cedure, but that costs rise more quickly than benets as the exemption level increases.

Suggested Citation

  • White, M.J., 1998. "Why It Pays to File for Bankruptcy: A Critical Look at Incentives Under U.S. Bankruptcy Laws and A Proposal for Change," Papers 98-02, Michigan - Center for Research on Economic & Social Theory.
  • Handle: RePEc:fth:michet:98-02
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    Citations

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    Cited by:

    1. Lin, Emily Y. & White, Michelle J., 2001. "Bankruptcy and the Market for Mortgage and Home Improvement Loans," Journal of Urban Economics, Elsevier, vol. 50(1), pages 138-162, July.
    2. Krueger, Dirk & Perri, Fabrizio, 2011. "Public versus private risk sharing," Journal of Economic Theory, Elsevier, vol. 146(3), pages 920-956, May.
    3. Yannis Georgellis & Howard J. Wall, 2006. "Entrepreneurship and the policy environment," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 95-112.
    4. Fan, Wei & White, Michelle J, 2003. "Personal Bankruptcy and the Level of Entrepreneurial Activity," Journal of Law and Economics, University of Chicago Press, vol. 46(2), pages 543-567, October.
    5. Nadja K├Ânig, 2016. "Household Debt and Macrodynamics - How do Income Distribution and Insolvency Regulations interact?," Macroeconomics and Finance Series 201603, Hamburg University, Department Wirtschaft und Politik.
    6. repec:ces:ifodic:v:13:y:2016:i:4:p:19191585 is not listed on IDEAS
    7. Henry, Ruby, 2013. "Business, Bankruptcy, and Beliefs: The Financial Demise of NBA Stars," IZA Discussion Papers 7238, Institute for the Study of Labor (IZA).

    More about this item

    Keywords

    BANKRUPTCY ; DECISION MAKING;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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