Replication data for: Macroeconomic Effects of Bankruptcy and Foreclosure Policies
- Mitman, Kurt
AbstractI 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.
Is supplement to
DOI: 10.1257/aer.20120512 (Text)
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