scholarly journals Trajectories of unsecured debt and health at midlife

2021 ◽  
pp. 100846
Author(s):  
Adrianne Frech ◽  
Jason Houle ◽  
Dmitry Tumin
Keyword(s):  
Unsecured Debt

scholarly journals Trajectories of Unsecured Debt across the Life Course and Mental Health at Midlife

2018 ◽  
Vol 10 (1) ◽  
pp. 61-79 ◽  
Author(s):  
Amy Ruining Sun ◽  
Jason N. Houle
Keyword(s):  
Mental Health ◽  
Depressive Symptoms ◽  
Life Course ◽  
Debt Accumulation ◽  
Unsecured Debt ◽  
Trajectory Models ◽  
Low Levels ◽  
Using Data ◽  
The Life Course ◽  
Substantial Heterogeneity

In this paper, we contribute to a growing literature on debt and mental health and ask whether patterns of unsecured debt accumulation and repayment over two decades are associated with depressive symptoms at age 50. Using data from the National Longitudinal Study of Youth 1979 Cohort and group trajectory models, we have three key findings. First, we find substantial heterogeneity in debt trajectories across the life course. Second, respondents who report consistently high debt levels across the life course or who cycle in and out of high debt report significantly more depressive symptoms than respondents who hold consistently low levels of debt. These findings hold for both absolute and relative (debt-to-income) debt. Third, we find that the association between debt and depressive symptoms is strongest among respondents with less than a college degree, but we find less evidence for heterogeneity by race in this cohort.

THE IMPACT OF LEARNING ON BUSINESS CYCLE FLUCTUATIONS IN THE CONSUMER UNSECURED CREDIT MARKET

2018 ◽  
Vol 24 (5) ◽  
pp. 1087-1123 ◽  
Author(s):  
Matthew N. Luzzetti ◽  
Seth Neumuller
Keyword(s):  
Business Cycle ◽  
Interest Rates ◽  
Default Risk ◽  
Credit Market ◽  
Credit Spread ◽  
Cross Sectional ◽  
Business Cycle Fluctuations ◽  
Unsecured Debt ◽  
Consumer Default ◽  
The Impact

We document that the credit spread on consumer unsecured debt exhibits a persistent, hump-shaped response to an increase in the charge-off rate. This stylized fact poses a significant challenge for a standard model of consumer default in which lenders have rational expectations and, therefore, the credit spread continuously adjusts to reflect the true default incentives of each borrower. In an effort to explain this feature of the data, we construct a model of consumer default with countercyclical income risk in which lenders learn about default risk over time by observing the history of repayment decisions, as is the case in practice. In addition to matching credit spread dynamics, allowing lenders to learn about default risk substantially improves the model’s ability to generate realistic business cycle fluctuations in the consumer unsecured credit market and match the cross-sectional distribution of unsecured debt and dispersion of interest rates observed in the data.

scholarly journals Social Security and Unsecured Debt

2004 ◽  
Author(s):  
Erik Hurst ◽  
Paul Willen
Keyword(s):  
Social Security ◽  
Unsecured Debt

Part I Elements of Bank Resolution Regimes, 2 Bank Resolution Techniques

2016 ◽  
Author(s):  
Gleeson Simon ◽  
Guynn Randall
Keyword(s):  
Bank Failure ◽  
Residual Value ◽  
Bank Resolution ◽  
Unsecured Debt ◽  
Commercial Company ◽  
Commercial World ◽  
Collective Benefit ◽  
Bail Out ◽  
Case Basis

This chapter discusses the available ‘toolkits’—or mechanisms—for resolving all types of banks and their affiliates, with the caveat that such tools can only be implemented on a case-by-case basis. In order to demonstrate the coverage of these methods, the hierarchy of approaches to bank failure is as follows: sale of the business by the purchase of assets and the assumption of liabilities (i.e. a purchase and assumption transaction), write-down or conversion of long-term unsecured debt into equity (bail-in), liquidation, and state aid (bail-out). Additionally, the normal state of resolution for a business in the commercial world is a restructuring in which creditors consent to a variation in their rights in order to maximize the residual value of an insolvent commercial company for the collective benefit of all its stakeholders and preserve its critical operations for the benefit of the broader market—a method that should be adapted for use in the banking industry.

scholarly journals Unsecured debt with public insurance: From bad to worse

2006 ◽  
Vol 53 (4) ◽  
pp. 797-825 ◽  
Author(s):  
Kartik B. Athreya ◽  
Nicole B. Simpson
Keyword(s):  
Public Insurance ◽  
Unsecured Debt

scholarly journals Secured and Unsecured Debt Over the Business Cycle

2017 ◽  
Vol 2017 (1) ◽  
Author(s):  
Maria A. Arias ◽  
Yi Wen
Keyword(s):  
Business Cycle ◽  
Unsecured Debt ◽  
The Business Cycle

Part III Sovereign Debt Restructuring, 11 Litigation Aspects of Sovereign Debt

2016 ◽  
Author(s):  
Olivares-Caminal Rodrigo ◽  
Douglas John ◽  
Guynn Randall ◽  
Kornberg Alan ◽  
Paterson Sarah ◽  
...  
Keyword(s):  
Sovereign Debt ◽  
Close Reading ◽  
Debt Restructuring ◽  
Unsecured Debt ◽  
Syndicated Loan

This chapter starts the study of litigation aspects of a sovereign debt by looking at the effect of a disruption in the economy in terms of legal options for recovery. The chapter also looks at the pari passu clause in sovereign debt instruments. A pari passu clause is a standard clause included in public or private international unsecured debt obligations (syndicated loan agreements and bond issuances). From a close reading of the clause, it can be argued that it has two limbs: firstly, an internal limb, ie that the bonds will rank pari passu with each other; and, secondly, an external limb, ie that the bonds will rank pari passu with other unsecured (present or future) indebtedness of the issuer. Not all pari passu clauses are drafted in the same way, and they will vary according to the drafter. The chapter considers various relevant cases.

Sign in / Sign up

Export Citation Format

Share Document