The Credit Market Consequences of Job Displacement

Benjamin Keys

The Review of Economics and Statistics, 2018, vol. 100, issue 3, 405-415

Abstract: This paper studies the role of job displacement in the household bankruptcy decision. Using an event-study methodology, I find that NLSY respondents are over three times more likely to file for bankruptcy immediately following a job loss. Using county-level data, I find similar magnitudes in the aggregate, with significant effects lasting two to three years. The results suggest that unemployment spells can have significant long-term consequences on households’ credit market outcomes.

Date: 2018
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Working Paper: The credit market consequences of job displacement (2010)
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