Recent Developments in Consumer Credit and Default Literature

This survey discusses recent contributions to the quantitative literature on unsecured consumer debt and default, and some ongoing challenges for the literature. Key topics include the sources of the rise in personal bankruptcies, the importance of asymmetric information and the effects of developme...

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Bibliographic Details
Published inA Collection of Reviews on Savings and Wealth Accumulation pp. 9 - 31
Main Author Livshits, Igor
Format Book Chapter
LanguageEnglish
Published Hoboken, NJ, USA John Wiley & Sons, Inc 12.04.2016
Subjects
Bankruptcy
Consumer credit
Default
Delinquency
Unsecseured debt
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Summary:This survey discusses recent contributions to the quantitative literature on unsecured consumer debt and default, and some ongoing challenges for the literature. Key topics include the sources of the rise in personal bankruptcies, the importance of asymmetric information and the effects of developments in information technologies on consumer credit markets, delinquency and informal bankruptcy, debt collection and restructuring of distressed debt, the cyclical behavior of consumer debt and default, and the insurance role of household debt. Implications for welfare analysis and policy design are discussed. Several theoretical contributions and approaches to modeling the consumer credit markets are also highlighted.
ISBN:9781119158387
1119158389
DOI:10.1002/9781119158424.ch2