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dc.creatorCorradin, Stefano
dc.creatorGropp, Reint E.
dc.creatorHuizinga, Harry
dc.creatorLaeven, Luc
dc.date.accessioned2021-09-28T09:17:09Z
dc.date.available2021-09-28T09:17:09Z
dc.date.issued2013-05-01
dc.identifier.urihttps://fif.hebis.de/xmlui/handle/123456789/2122
dc.description.abstractHomestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data for the period 1996 to 2006, we find that household demand for real estate is relatively high if the marginal investment in home equity is covered by the exemption. The home equity bias is more pronounced for younger households that face more financial uncertainty and therefore have a higher ex ante probability of bankruptcy.
dc.rightsAttribution-ShareAlike 4.0 International
dc.rights.urihttp://creativecommons.org/licenses/by-sa/4.0/
dc.subjectFinancial Institutions
dc.subjectTransparency Lab
dc.titleWho Invests in Home Equity to Exempt Wealth from Bankruptcy?
dc.typeWorking Paper
dcterms.referenceshttps://fif.hebis.de/xmlui/handle/123456789/1493?SIPP
dc.source.filename21_SSRN-id2268926
dc.identifier.safeno21
dc.subject.keywordshomestead exemptions
dc.subject.keywordspersonal bankruptcy
dc.subject.keywordsportfolio allocation
dc.subject.keywordshome ownership
dc.subject.jelG11
dc.subject.jelK35
dc.subject.jelR21
dc.subject.topic1exclusion
dc.subject.topic1utility
dc.subject.topic1welfare
dc.subject.topic2variable
dc.subject.topic2indicator
dc.subject.topic2ownership
dc.subject.topic3iowa
dc.subject.topic3kansas
dc.subject.topic3south
dc.subject.topic1nameMonetary Policy
dc.subject.topic2nameHousehold Finance
dc.subject.topic3nameSaving and Borrowing
dc.identifier.doi10.2139/ssrn.2268926


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Attribution-ShareAlike 4.0 International
Except where otherwise noted, this item's license is described as Attribution-ShareAlike 4.0 International