The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Consumer Bankruptcy: A Fresh Start
Open accessAbstract
Consumer bankruptcy provides partial insurance against bad luck, but, by driving up interest rates, makes life-cycle smoothing more difficult. We argue that to assess this trade-off one needs a quantitative model of consumer bankruptcy with three key features: life-cycle component, idiosyncratic earnings uncertainty, and expense uncertainty (exogenous negative shocks to household balance sheets). We find that transitory and persistent earnings shocks have very different implications for evaluating bankruptcy rules. More persistent shocks make the bankruptcy option more desirable. Larger transitory shocks have the opposite effect. Our findings suggest the current US bankruptcy system may be desirable for reasonable parameter values. (JEL D14, D91, K35)
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
The nature of credit constraints and human capital
Lochner, L. J., & Monge-Naranjo, A. (2011) · American Economic Review · doi:10.1257/aer.101.6.2487 · Cited by 347
Cited by
Inequality, Leverage, and Crises
Kumhof, M., Rancière, R., & Winant, P. (2015) · American Economic Review · doi:10.1257/aer.20110683 · Cited by 664
The Economic Consequences of Hospital Admissions
Dobkin, C., Finkelstein, A., Kluender, R., & Notowidigdo, M. J. (2018) · American Economic Review · doi:10.1257/aer.20161038 · Cited by 555
The Household Bankruptcy Decision
Fay, S., Hurst, E., & White, M. J. (2002) · American Economic Review · doi:10.1257/00028280260136327 · Cited by 521
Default and the Maturity Structure in Sovereign Bonds
Arellano, C., & Ramanarayanan, A. (2012) · Journal of Political Economy · doi:10.1086/666589 · Cited by 428
The nature of credit constraints and human capital
Lochner, L. J., & Monge-Naranjo, A. (2011) · American Economic Review · doi:10.1257/aer.101.6.2487 · Cited by 347
Metadata
- Authors
- Livshits, I., MacGee, J., & Tertilt, M.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2007-02-01
- Volume
- 97
- Issue
- 1
- Pages
- 402-418
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2047511771
- Cited by
- 423
- References
- 1
- FWCI
- 76.27
- Type
- journal article
- Language
- en
- Open access
- green
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Consumer Bankruptcy: A Fresh Start. https://app.cochat.ai/papers/10.1257/aer.97.1.402
- The paper
- Livshits, I., MacGee, J., & Tertilt, M. (2007). Consumer Bankruptcy: A Fresh Start. American Economic Review. https://doi.org/10.1257/aer.97.1.402
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
