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Unsecured Credit and Self-Employment

  • Kartik Athreya

    (Federal Reserve Bank of Richmond)

  • Ahmet Akyol

    (York University)

by shifting borrowing away from younger and poorer households, to older, richer ones. In sum, strict limits to liability impede credit markets, and do so in a way that is quite regressive.

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Paper provided by Society for Economic Dynamics in its series 2007 Meeting Papers with number 49.

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Date of creation: 2007
Date of revision:
Handle: RePEc:red:sed007:49
Contact details of provider: Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA
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  1. Juan Carlos Cordoba, 2005. "U.S. Inequality: Debt Constraints or Incomplete Markets?," 2005 Meeting Papers 235, Society for Economic Dynamics.
  2. Pavan, Marina, 2008. "Consumer durables and risky borrowing: The effects of bankruptcy protection," Journal of Monetary Economics, Elsevier, vol. 55(8), pages 1441-1456, November.
  3. Robert W. Fairlie & Harry A. Krashinsky, 2012. "Liquidity Constraints, Household Wealth, and Entrepreneurship Revisited," CESifo Working Paper Series 3784, CESifo Group Munich.
  4. Igor Livshits & James MacGee & Michele Tertilt, 2003. "Consumer bankruptcy: a fresh start," Working Papers 617, Federal Reserve Bank of Minneapolis.
  5. Stefan Krasa & Tridib Sharma & Anne Villamil, 2008. "Bankruptcy and firm finance," Economic Theory, Springer, vol. 36(2), pages 239-266, August.
  6. Erik Hurst & Annamaria Lusardi, 2004. "Liquidity Constraints, Household Wealth, and Entrepreneurship," Journal of Political Economy, University of Chicago Press, vol. 112(2), pages 319-347, April.
  7. Hugo A. Hopenhayn & Galina Vereshchagina, 2003. "Risk Taking by Entrepreneurs," RCER Working Papers 500, University of Rochester - Center for Economic Research (RCER).
  8. Yaz Terajima & Cesaire Meh, 2005. "Housing, Personal Bankruptcy, Entrepreneurship," Computing in Economics and Finance 2005 415, Society for Computational Economics.
  9. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-35, June.
  10. Yaz Terajima, 2005. "Education and Self-Employment: Relationships between Earnings and Wealth Inequality," Computing in Economics and Finance 2005 423, Society for Computational Economics.
  11. Valery Polkovnichenko, 2003. "Human Capital and the Private Equity Premium," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(4), pages 831-845, October.
  12. Satyajit Chatterjee & Dean Corbae & Makoto Nakajima & José-Víctor Ríos-Rull, 2007. "A Quantitative Theory of Unsecured Consumer Credit with Risk of Default," Econometrica, Econometric Society, vol. 75(6), pages 1525-1589, November.
  13. Athreya, Kartik B. & Simpson, Nicole B., 2006. "Unsecured debt with public insurance: From bad to worse," Journal of Monetary Economics, Elsevier, vol. 53(4), pages 797-825, May.
  14. Ana M. Aizcorbe & Arthur B. Kennickell & Kevin B. Moore, 2003. "Recent changes in U.S. family finances: evidence from the 1998 and 2001 Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jan, pages 1-32.
  15. William M. Gentry & R. Glenn Hubbard, 2000. "Entrepreneurship and Household Saving," NBER Working Papers 7894, National Bureau of Economic Research, Inc.
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