NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Bankruptcy and the Collateral Channel

Efraim Benmelech, Nittai K. Bergman

NBER Working Paper No. 15708
Issued in January 2010

---- Acknowledgements -----

We thank Paul Asquith, Douglas Baird, John Campbell, Lauren Cohen, Shawn Cole, Joshua Coval, Sergei Davydenko, Oliver Hart, Andrei Shleifer, Jeremy Stein, Heather Tookes, Jeffrey Zwiebel, and seminar participants at Harvard University and the 2008 Financial Research Association Meeting. We also thank Robert Grundy and Phil Shewring from Airclaims Inc. Ricardo Enriquez and Apurv Jain provided excellent research assistance. All errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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