Abstract This article examines the heterogeneous impact of state exemption laws and state garnishment laws on bankruptcy. Using a new household-level dataset, my empirical specification simultaneously examines the impact these laws have on a household’s bankruptcy decision as well as a household’s assets and unsecured debts. I find that high exemption laws have a positive impact on bankruptcy and that this effect is increasing in assets. Additionally, I find that high garnishment rates have a positive impact on bankruptcy, which is increasing in income. Moreover, I examine the policy implications of standardizing state exemption laws and state garnishments laws. Understanding the heterogeneous effects of these laws is crucial as they suggest that a household with a given set of financial characteristics will seek bankruptcy relief if it resides in one state but will have to use alternative consumption smoothing measures if it lives in a different state.

中文翻译：

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谁申请破产？州法律对家庭破产决定的异质影响

摘要 本文研究了州豁免法和州扣押法对破产的不同影响。使用新的家庭级数据集，我的实证规范同时检验了这些法律对家庭破产决定以及家庭资产和无担保债务的影响。我发现高豁免法对破产有积极影响，而且这种影响在资产中正在增加。此外，我发现高担保率对破产有积极影响，这会增加收入。此外，我研究了标准化州豁免法和州扣押法的政策含义。