Busy bankruptcy courts and the cost of credit
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DOI: 10.1016/j.jfineco.2021.08.010
Abstract: Abstract This paper estimates the effect of bankruptcy court caseload on access to credit by exploiting firms’ plausibly exogenous exposure to the largest recorded drop in court backlog in the United States following the 2005… read more here.
Keywords: credit; bankruptcy; courts cost; bankruptcy courts ... See more keywords
High‐Cost Credit and Consumption Smoothing
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DOI: 10.1111/jmcb.12465
Abstract: In this paper, I show that high‐cost credit helps households smooth consumption following periods of temporary financial distress. After experiencing distress—that is, extreme weather events—I find that access to high‐cost payday lending mitigates declines in… read more here.
Keywords: consumption smoothing; high cost; cost credit; credit ... See more keywords