Stefania Albanesi, Jaromir Nosal, Zachary Bleemer, and Matthew Ploenzke
Our previous post showed that the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was associated with a sizable rise in foreclosure, in addition to a decline in bankruptcy filings and a rise in insolvency.
Stefania Albanesi, Jaromir Nosal, Zachary Bleemer, and Matthew Ploenzke
Personal bankruptcy was introduced in the United States through the Bankruptcy Act of 1978.
Meta Brown, Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw
Student debt continues to make headlines because of its high balances and high rates of delinquency and default—troubling issues that we discussed in our previous posts this week.
Meta Brown, Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw
An analysis of student loan borrower distress uncovers some new facts. First, cohort default rates appear to have been worsening over time, Second, defaults appear to be concentrated among the lowest-balance borrowers, who may not have completed their schooling, or may have earned credentials with lower payoffs than a four-year college degree. Finally, snapshots of delinquency and default rates miss the fact that many borrowers who are current today have had serious stress in the past.
Meta Brown, Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw
Student loans have recently attracted a huge amount of attention from the press and policymakers.
Meta Brown, Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw
Meta Brown, Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw Today, the New York Fed released the Quarterly Report on Household Debt and Credit for the fourth quarter of 2014. The report is based on data from the New York Fed’s Consumer Credit Panel, a nationally representative sample drawn from anonymized […]
Amy Farber
It’s almost Valentine’s Day, and we’re not asking you questions or dispensing advice about it — that’s not (yet) our business.
James Vickery, Angela Deng, and Tara Sullivan
It’s natural to think of banks as intermediaries that take in deposits and use them to make loans to businesses and individuals.
Nina Boyarchenko
Forming long-term partnerships with customers and suppliers often creates a competitive advantage for firms because it permits resource sharing, eases financial constraints, and encourages investment in relationship-specific capital.
Linda Goldberg, John Rogers, Luca Dedola, and Livio Stracca
International financial flows are a key feature of the global landscape and are relevant in many ways for central banks.
Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.
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