Author: Vito Gala
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
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Book Description
In this paper we study the political and economic determinants of US states' choices of homestead exemptions. We develop a political economy model in which homestead exemptions are ex-post beneficial to borrowers who default (because they shield some of their wealth from creditors) but ex-ante costly to all borrowers (because they increase borrowing costs). Assuming that state residents vote on homestead exemptions, we predict that states with higher levels of income inequality adopt higher levels of homestead exemptions. We test this prediction for three sample periods: cross-sectional data for 1975 and for 1860, and panel data over the 1978-2005 period. Across these three samples, we find evidence consistent with the prediction of the model. Our findings are robust to controls for other differences across states, including state fixed effects (in the panel regressions).
Author: Joseph Spooner
Publisher: Cambridge University Press
ISBN: 1107166942
Category : Business & Economics
Languages : en
Pages : 309
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Book Description
Excessive household debt has allowed for economic growth, but this model has become increasingly unstable. Spooner examines bankruptcy law as a potential solution.
Author: Eric A. Posner
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 80
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Book Description
Author: Stijn Claessens
Publisher: World Bank Publications
ISBN:
Category : Bankruptcy
Languages : en
Pages : 40
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Book Description
Author: David A. Skeel Jr.
Publisher: Princeton University Press
ISBN: 1400828503
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Bankruptcy in America, in stark contrast to its status in most other countries, typically signifies not a debtor's last gasp but an opportunity to catch one's breath and recoup. Why has the nation's legal system evolved to allow both corporate and individual debtors greater control over their fate than imaginable elsewhere? Masterfully probing the political dynamics behind this question, David Skeel here provides the first complete account of the remarkable journey American bankruptcy law has taken from its beginnings in 1800, when Congress lifted the country's first bankruptcy code right out of English law, to the present day. Skeel shows that the confluence of three forces that emerged over many years--an organized creditor lobby, pro-debtor ideological currents, and an increasingly powerful bankruptcy bar--explains the distinctive contours of American bankruptcy law. Their interplay, he argues in clear, inviting prose, has seen efforts to legislate bankruptcy become a compelling battle royale between bankers and lawyers--one in which the bankers recently seem to have gained the upper hand. Skeel demonstrates, for example, that a fiercely divided bankruptcy commission and the 1994 Republican takeover of Congress have yielded the recent, ideologically charged battles over consumer bankruptcy. The uniqueness of American bankruptcy has often been noted, but it has never been explained. As different as twenty-first century America is from the horse-and-buggy era origins of our bankruptcy laws, Skeel shows that the same political factors continue to shape our unique response to financial distress.
Author: Eva-Maria Steiger
Publisher: Deutscher Universitätsverlag
ISBN: 9783824483440
Category : Business & Economics
Languages : en
Pages : 117
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Book Description
Eva-Maria Steiger classifies the mechanisms triggered by U.S. and European consumer bankruptcy regulations and tests them within a hidden action model. She identifies an influence on consumer effort choice at two dates - prior to distress and post filing -, appraises the capacity of the regulations to implement the efficient choice at both dates, and proposes a regulation to mitigate the identified distortions.
Author: United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 1088
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Book Description
Author: Eva-Maria Steiger
Publisher: Deutscher Universitätsverlag
ISBN: 9783322819659
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Eva-Maria Steiger classifies the mechanisms triggered by U.S. and European consumer bankruptcy regulations and tests them within a hidden action model. She identifies an influence on consumer effort choice at two dates - prior to distress and post filing -, appraises the capacity of the regulations to implement the efficient choice at both dates, and proposes a regulation to mitigate the identified distortions.
Author: Jacob S. Hacker
Publisher: Cambridge University Press
ISBN: 1316516369
Category : History
Languages : en
Pages : 487
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Book Description
Drawing together leading scholars, the book provides a revealing new map of the US political economy in cross-national perspective.
Author: Kenneth Ayotte
Publisher: Edward Elgar Publishing
ISBN: 9781849808972
Category : Law
Languages : en
Pages : 417
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Book Description
Leading scholars in the field of law and economics contribute their original theoretical and empirical research to this major Handbook. Each chapter analyzes the basic architecture and important features of the institutions of property law from an economic point of view, while also providing an introduction to the issues and literature. Property rights and property systems vary along a large number of dimensions, and economics has proven very conducive to analyzing these patterns and even the nature of property itself. The contributions found here lend fresh perspectives to the current body of literature, examining topics including: initial acquisition; the commons, anticommons, and semicommons; intellectual property; public rights; abandonment and destruction; standardization of property; property and firms; marital property; bankruptcy as property; titling systems; land surveying; covenants; nuisance; the political economy of property; and takings. The contributors employ a variety of methods and perspectives, demonstrating the fruitfulness of economic modeling, empirical methods, and institutional analysis for the study of both new and familiar problems in property. Legal scholars, economists, and other social scientists interested in property will find this Handbook an often-referenced addition to their libraries.
