Replication data for: Debt Portfolios and Homestead Exemptions

Principal Investigator(s): View help for Principal Investigator(s) Thomas Hintermaier; Winfried Koeniger

Name	File Type	Size	Last Modified
replication_files_Debt_Portfolios_TH_WK			10/26/2021 02:34:PM
LICENSE.txt	text/plain	14.6 KB	12/07/2019 09:17:AM

Project Citation:

Hintermaier, Thomas, and Koeniger, Winfried. Replication data for: Debt Portfolios and Homestead Exemptions. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116394V1

Project Description

Summary: This paper investigates the economic relevance of the large differences in homestead exemptions across US states. We build a structural model for an equilibrium analysis of debt-portfolio choices over the life cycle. Our analysis captures key patterns from the observed cross-sectional distributions of secured debt, unsecured debt, and of home equity. The model predicts that harmonizing the amount of home equity exempt in bankruptcy procedures has quantitatively negligible effects on the interest rate of unsecured debt and on welfare, unless the exemption is eliminated. The small welfare effect may rationalize why the differences in homestead exemptions are so persistent.

Scope of Project

Subject Terms: numerical solution; Debt portfolios; Survey of Consumer Fices; Program code

JEL Classification:
      D14 Household Saving; Personal Finance
      D15 Intertemporal Household Choice; Life Cycle Models and Saving
      E21 Macroeconomics: Consumption; Saving; Wealth
      G11 Portfolio Choice; Investment Decisions
      H71 State and Local Taxation, Subsidies, and Revenue
      R31 Housing Supply and Markets

Geographic Coverage: United States

Time Period(s): 2001 – 2010 (2000s)

Universe: US households

Data Type(s): survey data

Methodology

Data Source: Federal Reserve Board

Unit(s) of Observation: Households,

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Published Versions

V1 [2019-12-07]

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