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An Equilibrium Model of the Timing of Bankruptcy Filings


  • Satyajit Chatterjee

    (FRB Philadelphia)


bankruptcy filing months later. While we possess reasonably sophisticated models of household default, we do not possess a comparably sophisticated model about the timing of a delinquent household's filing decision. The purpose of this project is to provide such a model and use it understand the determinants of such phenomena as "financial distress" (the period during which a delinquent debtor is pursued by creditors), "informal bankruptcy" (where a deliquent never repays but neither does he file for bankruptcy) and to infer something about the causal forces affecting the recently observed path of bankruptcy filings.

Suggested Citation

  • Satyajit Chatterjee, 2010. "An Equilibrium Model of the Timing of Bankruptcy Filings," 2010 Meeting Papers 1282, Society for Economic Dynamics.
  • Handle: RePEc:red:sed010:1282

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    References listed on IDEAS

    1. repec:wly:iecrev:v:58:y:2017:i::p:499-527 is not listed on IDEAS
    2. David B. Gross, 2002. "An Empirical Analysis of Personal Bankruptcy and Delinquency," Review of Financial Studies, Society for Financial Studies, vol. 15(1), pages 319-347, March.
    3. Viktar Fedaseyeu, 2012. "Debt Collection Agencies and the Supply of Consumer Credit," Working Papers 442, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    4. 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.
    5. Jonathan Eaton & Mark Gersovitz, 1981. "Debt with Potential Repudiation: Theoretical and Empirical Analysis," Review of Economic Studies, Oxford University Press, vol. 48(2), pages 289-309.
    6. Chatterjee, Satyajit & Gordon, Grey, 2012. "Dealing with consumer default: Bankruptcy vs garnishment," Journal of Monetary Economics, Elsevier, vol. 59(S), pages 1-16.
    7. Natalia Kovrijnykh & Igor Livshits, 2017. "Screening As A Unified Theory Of Delinquency, Renegotiation, And Bankruptcy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58, pages 499-527, May.
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    Cited by:

    1. Lukasz A. Drozd & Ricardo Serrano-Padial, 2013. "Modeling the credit card revolution: the role of debt collection and informal bankruptcy," Working Papers 13-12, Federal Reserve Bank of Philadelphia.
    2. Lukasz A. Drozd & Ricardo Serrano-Padial, 2017. "Modeling the Revolving Revolution: The Debt Collection Channel," American Economic Review, American Economic Association, vol. 107(3), pages 897-930, March.
    3. Xavier Mateos-Planas, 2011. "Consumer default with complete markets," 2011 Meeting Papers 954, Society for Economic Dynamics.

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