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Equilibrium Models of Personal Bankruptcy: A Survey - Economic Quarterly, Spring 2005 - Federal Reserve Bank of Richmond
Equilibrium Models of Personal Bankruptcy: A Survey Equilibrium Models of Personal Bankruptcy: A Survey - Economic Quarterly Spring 2005 Equilibrium Models of Personal Bankruptcy: A Survey - Economic Quarterly, Spring 2005 - Federal Reserve Bank of Richmond Article Spring 2005 Kartik B. Athreya {karart1} <p>A comparison of models and results from selected papers on personal bankruptcy establishes how particular modeling assumptions matter for the implications of bankruptcy. For example, it can be argued that only under income processes that allow for large shocks to net worth can bankruptcy play a role in improving welfare. However, despite the progress evident from the work so far, questions remain, the resolution of which is critical to forming a definitive view of the role for personal default.</p> /RichmondFedOrg/publications/research/economic_quarterly/2005/spring/pdf/athreya.pdf Consumer Finance <p>A comparison of models and results from selected papers on personal bankruptcy establishes how particular modeling assumptions matter for the implications of bankruptcy. For example, it can be argued that only under income processes that allow for large shocks to net worth can bankruptcy play a role in improving welfare. However, despite the progress evident from the work so far, questions remain, the resolution of which is critical to forming a definitive view of the role for personal default.</p> /email_updates/#tabview=tab1 1 Bankruptcy Consumer Finance
<p>A comparison of models and results from selected papers on personal bankruptcy establishes how particular modeling assumptions matter for the implications of bankruptcy. For example, it can be argued that only under income processes that allow for large shocks to net worth can bankruptcy play a role in improving welfare. However, despite the progress evident from the work so far, questions remain, the resolution of which is critical to forming a definitive view of the role for personal default.</p> Economic Quarterly Spring 2005