Boston University Libraries OpenBU
    JavaScript is disabled for your browser. Some features of this site may not work without it.
    View Item 
    •   OpenBU
    • BU Open Access Articles
    • BU Open Access Articles
    • View Item
    •   OpenBU
    • BU Open Access Articles
    • BU Open Access Articles
    • View Item

    A general equilibrium analysis of personal bankruptcy law

    Thumbnail
    Date Issued
    2016-01-01
    Publisher Version
    10.1111/ecca.12167
    Author(s)
    von Lilienfeld-Toal, Ulf
    Mookherjee, Dilip
    Share to FacebookShare to TwitterShare by Email
    Export Citation
    Download to BibTex
    Download to EndNote/RefMan (RIS)
    Metadata
    Show full item record
    Permanent Link
    https://hdl.handle.net/2144/35579
    Version
    Accepted manuscript
    Citation (published version)
    Ulf von Lilienfeld-Toal, Dilip Mookherjee. 2016. "A General Equilibrium Analysis of Personal Bankruptcy Law." ECONOMICA, Volume 83, Issue 329, pp. 31 - 58 (28). https://doi.org/10.1111/ecca.12167
    Abstract
    We analyse an economy where principals and agents match and contract subject to moral hazard. Bankruptcy law defines the limited liability constraint in these contracts. We analyse Walrasian allocations to generate the following predictions: (i) weakening bankruptcy law causes redistribution of debt and welfare from poor agents and principals to rich agents; (ii) exemption limits Pareto‐dominate other bankruptcy laws if project size is fixed; (iii) means‐testing (as in recent US personal bankruptcy law) that is ex post pro‐poor in intent makes the poor worse off ex ante.
    Collections
    • CAS: Economics: Scholarly Papers [187]
    • BU Open Access Articles [3664]


    Boston University
    Contact Us | Send Feedback | Help
     

     

    Browse

    All of OpenBUCommunities & CollectionsIssue DateAuthorsTitlesSubjectsThis CollectionIssue DateAuthorsTitlesSubjects

    Deposit Materials

    LoginNon-BU Registration

    Statistics

    Most Popular ItemsStatistics by CountryMost Popular Authors

    Boston University
    Contact Us | Send Feedback | Help