Accounting for the Rise in Consumer Bankruptcies
---- Acknowledgements -----
We thank Kartik Athreya, Satyajitt Chatterjee, Huberto Ennis, Martin Gervais, Jeremy Greenwood, Karen Pence, Jose-Victor Rios-Rull, Stephen Zeldes and seminar participants at the 2005 Philadelphia Fed Consumer Credit & Payments conference, November 2005 NBER ME conference, the SITE 2004 conference, the 2003 Western-Toronto Macro conference, the SED Meetings in Paris and Florence, the Federal Reserve Banks of Minneapolis, Richmond, and Chicago, the Bank of Canada, the European Central Bank, and UC Davis, Illinois, Iowa, New Brunswick, Pennsylvania, Rochester, Texas-Austin, Wharton, York and Queen's Universities for helpful comments. Livshits acknowledges financial support from the Arts, Humanities & Social Sciences Fund of the UWO. Livshits and MacGee acknowledge financial support from SSHRCC and from the Economic Policy Research Institute. Tertilt is grateful to financial support from NSF grant No. 0519324. We would like to thank Jie Zhou for excellent research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.