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•We examine the impact of the BAPCPA’s homestead exemption restrictions and means test.•State-level panel data from 2000 to 2007 is used.•We form a treatment group from states that have greater exposure to these provisions.•Homestead exemption restrictions increased the Chapter 13 share by 3.6 percentage points in treated states.•Means test increased the Chapter 13 share by 3 percentage points in...
This paper provides evidence of a negative association between macroeconomic uncertainty and the cross sectional dispersion of investment rate for a panel of Japanese manufacturing firms. We show that an increase in uncertainty leads to the narrowing of the cross section dispersion of investment rate and vice versa. This finding suggests that firms’ fixed capital investment behavior becomes more homogeneous...
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