论文标题
破产冲击和合法劳动力市场：法院竞争时代的证据
Bankruptcy Shocks and Legal Labor Markets: Evidence from the Court Competition Era
论文作者
论文摘要
我们研究第11章破产如何影响当地的法律劳动力市场。我们记录说，破产冲击会增加县的法律就业，并通过利用法院竞争时代（1991-1996）法律的法律规定来证实这一发现。我们从公司论坛上量化了向当地社区购物的损失，如下所示。首先，我们计算出降低的结果所隐含的未实现的潜在就业收益。其次，我们从结构上估算合法劳动力市场的模型并量化福利损失。我们从宽松的破产场地法律中发现了有意义的成本。
We study how Chapter 11 bankruptcies affect local legal labor markets. We document that bankruptcy shocks increase county legal employment and corroborate this finding by exploiting a stipulation of the law known as Forum Shopping during the Court Competition Era (1991-1996). We quantify losses to local communities from firms forum shopping away from their local area as follows. First, we calculate the unrealized potential employment gains implied by our reduced-form results. Second, we structurally estimate a model of legal labor markets and quantify welfare losses. We uncover meaningful costs to local communities from lax bankruptcy venue laws.
