{"id":271820,"date":"2024-09-17T16:25:35","date_gmt":"2024-09-17T14:25:35","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/271820\/"},"modified":"2024-12-10T10:37:15","modified_gmt":"2024-12-10T09:37:15","slug":"consumer-bankruptcy-in-austria","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/271820\/","title":{"rendered":"Consumer Bankruptcy in Austria"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-271820","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"An Empirical Analysis","text":"Private bankruptcy offers over-indebted persons the possibility to obtain a discharge of debts under certain conditions. From 1995 to 2023, a total of about 215,000 private bankruptcy petitions were filed in Austria. The annual number of applications rose steadily until the end of the 2000s. Since then, major jumps in the number of cases have been observed, especially in connection with reforms and changes in the political framework, such as during the COVID-19 crisis. This paper analyses the determinants of personal bankruptcies in Austria since their introduction in 1995. The vast majority of studies on personal bankruptcies refer to the USA, while the situation in Austria has hardly been investigated. We aim to fill this gap by applying time series and panel econometric methods to Austrian consumer bankruptcy data. We examine their relationship with policy, macroeconomic and socio-demographic variables. Our results indicate relatively large effects of bankruptcy rules (i.e., the changing conditions for debt discharge) and private debt levels.","onlinedate":"20240917","lang":"German","publication_series":"","publication_date":"20240917","publication_date_year":"","publication_date_full":true,"publication_num_pages":"53","keywords":"[]","jelcodes":"[\"D18\",\"G51\",\"K35\"]","related_publications":"[]","pdf":419229,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"685","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44410],"research_groups":[3510],"collaboration":"","persons":[4999,5030],"persons_data":"[{\"personId\":4999,\"personName\":\"Stefan Angel\",\"organisationNames\":[]},{\"personId\":5030,\"personName\":\"Philipp Warum\",\"organisationNames\":[]}]","clients":[10660],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Angel, S.<\\\/span><span>, &amp; Warum, P.<\\\/span> (2024). <span>Consumer Bankruptcy in Austria: An Empirical Analysis<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (685).<\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Angel S<\\\/span><span>, Warum P<\\\/span>. <span class=\\\"title\\\"><span>Consumer Bankruptcy in Austria: <span class=\\\"subtitle\\\">An Empirical Analysis<\\\/span><\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2024 Sept 17;(685).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{4d6685cc57fa4833b40590d1e23b9366,<\\\/div><div>  title    = \\\"Consumer Bankruptcy in Austria: An Empirical Analysis\\\",<\\\/div><div>  abstract = \\\"Private bankruptcy offers over-indebted persons the possibility to obtain a discharge of debts under certain conditions. From 1995 to 2023, a total of about 215,000 private bankruptcy petitions were filed in Austria. The annual number of applications rose steadily until the end of the 2000s. Since then, major jumps in the number of cases have been observed, especially in connection with reforms and changes in the political framework, such as during the COVID-19 crisis. This paper analyses the determinants of personal bankruptcies in Austria since their introduction in 1995. The vast majority of studies on personal bankruptcies refer to the USA, while the situation in Austria has hardly been investigated. We aim to fill this gap by applying time series and panel econometric methods to Austrian consumer bankruptcy data. We examine their relationship with policy, macroeconomic and socio-demographic variables. Our results indicate relatively large effects of bankruptcy rules (i.e., the changing conditions for debt discharge) and private debt levels.\\\",<\\\/div><div>  keywords = \\\"Consumer bankruptcy, Austria, Debt counseling\\\",<\\\/div><div>  author   = \\\"Stefan Angel and Philipp Warum\\\",<\\\/div><div>  year     = \\\"2024\\\",<\\\/div><div>  month    = sep,<\\\/div><div>  day      = \\\"17\\\",<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Consumer Bankruptcy in Austria<\\\/p><p>T2  - An Empirical Analysis<\\\/p><p>AU  - Angel, Stefan<\\\/p><p>AU  - Warum, Philipp<\\\/p><p>PY  - 2024\\\/9\\\/17<\\\/p><p>Y1  - 2024\\\/9\\\/17<\\\/p><p>N2  - Private bankruptcy offers over-indebted persons the possibility to obtain a discharge of debts under certain conditions. From 1995 to 2023, a total of about 215,000 private bankruptcy petitions were filed in Austria. The annual number of applications rose steadily until the end of the 2000s. Since then, major jumps in the number of cases have been observed, especially in connection with reforms and changes in the political framework, such as during the COVID-19 crisis. This paper analyses the determinants of personal bankruptcies in Austria since their introduction in 1995. The vast majority of studies on personal bankruptcies refer to the USA, while the situation in Austria has hardly been investigated. We aim to fill this gap by applying time series and panel econometric methods to Austrian consumer bankruptcy data. We examine their relationship with policy, macroeconomic and socio-demographic variables. Our results indicate relatively large effects of bankruptcy rules (i.e., the changing conditions for debt discharge) and private debt levels.<\\\/p><p>AB  - Private bankruptcy offers over-indebted persons the possibility to obtain a discharge of debts under certain conditions. From 1995 to 2023, a total of about 215,000 private bankruptcy petitions were filed in Austria. The annual number of applications rose steadily until the end of the 2000s. Since then, major jumps in the number of cases have been observed, especially in connection with reforms and changes in the political framework, such as during the COVID-19 crisis. This paper analyses the determinants of personal bankruptcies in Austria since their introduction in 1995. The vast majority of studies on personal bankruptcies refer to the USA, while the situation in Austria has hardly been investigated. We aim to fill this gap by applying time series and panel econometric methods to Austrian consumer bankruptcy data. We examine their relationship with policy, macroeconomic and socio-demographic variables. Our results indicate relatively large effects of bankruptcy rules (i.e., the changing conditions for debt discharge) and private debt levels.<\\\/p><p>KW  - Consumer bankruptcy<\\\/p><p>KW  - Austria<\\\/p><p>KW  - Debt counseling<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[\"Grandner Lydia\"]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Consumer Bankruptcy in Austria - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/271820\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consumer Bankruptcy in Austria\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/271820\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-10T09:37:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/271820\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/271820\\\/\",\"name\":\"Consumer Bankruptcy in Austria - 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