Metadata

Replication data for: Macroeconomic Effects of Bankruptcy and Foreclosure Policies

Version
1
Resource Type
Dataset
Creator
  • Mitman, Kurt
Publication Date
2016-08-01
Description

  • Abstract

    I study the implications of two major debt-relief policies in the United States: the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) and the Home Affordable Refinance Program (HARP). To do so, I develop a model of housing and default that includes relevant dimensions of credit-market policy and captures rich heterogeneity in household balance sheets. The model also explains the observed cross-state variation in consumer default rates. I find that BAPCPA significantly reduced bankruptcy rates, but increased foreclosure rates when house prices fell. HARP reduced foreclosures by 1 percentage point and provided substantial welfare gains to households with high loan-to-value mortgages.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.20120512 (Text)
Publications
  • Mitman, Kurt. “Macroeconomic Effects of Bankruptcy and Foreclosure Policies.” American Economic Review 106, no. 8 (August 2016): 2219–55. https://doi.org/10.1257/aer.20120512.
    • ID: 10.1257/aer.20120512 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-06