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CESifo DICE Report 4/2015

DICE Forum: Personal Bankruptcy

Personal bankruptcy has significant economic consequences not only for the insolvent individual, but also for society as a whole. For this reason, the institutional framework of the procedure that is applied in case of personal insolvency deserves attention. In the 4/2015 issue of the CESifo DICE Report, experts analyse personal bankrupcty laws and regulations in different countries.

Michelle J. White, University of California, discusses the basic features of bankruptcy law in the US and explains its economic objectives. Stefania Albanesi, The Ohio State University, and Jaromir Nosal, Boston College, analyse the effects of the reform of the US personal bankruptcy law in 2005. Ron Harris, Tel Aviv University, and Asher Meir, Jerusalem College of Technology, compare the recourse structure of mortgages between the US and Europe. Jeffrey Traczynski, University of Hawaii, discusses the general intentions of personal bankruptcy laws from a social insurance perspective. Frank M. Fossen and Johannes König, both Freie Universität Berlin, analyse the effects of bankruptcy law reforms in 2014 on entrepreneurial activity in Germany. Finally, Michel Robe, American University Washington, and Eva Maria Steiger, University of Munich, present an overview of the historical development of personal bankruptcy regulations around the world.


  1. White, Michelle J., "Economics of Personal Bankruptcy and Insolvency", CESifo DICE Report 13 (4), 2015, 03-07 | Details | PDF Download

  2. Albanesi, Stefania and Jaromir Nosal, "Personal Bankruptcy in the US: Effects of the 2005 Reform", CESifo DICE Report 13 (4), 2015, 08-14 | Details | PDF Download

  3. Harris, Ron and Asher Meir, "Recourse Structure of Mortgages: A Comparison between the US and Europe", CESifo DICE Report 13 (4), 2015, 15-22 | Details | PDF Download

  4. Traczynski, Jeffrey, "Personal Bankruptcy and Social Insurance", CESifo DICE Report 13 (4), 2015, 23-27 | Details | PDF Download

  5. Fossen, Frank M. and Johannes König, "Personal Bankruptcy Law and Entrepreneurship", CESifo DICE Report 13 (4), 2015, 28-34 | Details | PDF Download

  6. Robe, Michel and Eva Maria Steiger, "Insolvency and its Consequences: A Historical Perspective", CESifo DICE Report 13 (4), 2015, 35-40 | Details | PDF Download

Journal issue

  1. Cover Image "CESifo DICE Report 4/2015 (Winter): Personal Bankruptcy", Ifo Institute, Munich, 2015, 01-71, Section: Forum | Details | PDF Download | EPUB Download

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