{"id":"https://openalex.org/W2945293104","doi":"https://doi.org/10.1086/701902","title":"Borrowers\u2019 Distress and Debt Relief: Evidence from a Natural Experiment","display_name":"Borrowers\u2019 Distress and Debt Relief: Evidence from a Natural Experiment","publication_year":2018,"publication_date":"2018-11-01","ids":{"openalex":"https://openalex.org/W2945293104","doi":"https://doi.org/10.1086/701902","mag":"2945293104"},"language":"en","primary_location":{"id":"doi:10.1086/701902","doi":"https://doi.org/10.1086/701902","is_oa":true,"landing_page_url":"https://doi.org/10.1086/701902","pdf_url":"https://www.journals.uchicago.edu/doi/epdf/10.1086/701902","source":{"id":"https://openalex.org/S998097505","display_name":"The Journal of Law and Economics","issn_l":"0022-2186","issn":["0022-2186","1537-5285"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-2","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315672","host_organization_name":"University of Chicago Press","host_organization_lineage":["https://openalex.org/P4310315672","https://openalex.org/P4310315690"],"host_organization_lineage_names":["University of Chicago Press","University of Chicago"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Law and Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"https://www.journals.uchicago.edu/doi/epdf/10.1086/701902","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":null,"display_name":"Saptarshi Mukherjee","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Saptarshi Mukherjee","raw_affiliation_strings":["New York University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"New York University","institution_ids":["https://openalex.org/I57206974"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5059028483","display_name":"Krishnamurthy V. Subramanian","orcid":"https://orcid.org/0000-0001-7874-9749","observed_orcids":["https://orcid.org/0000-0001-7874-9749","https://orcid.org/0000-0003-4575-0967"]},"institutions":[{"id":"https://openalex.org/I122328836","display_name":"Indian School of Business","ror":"https://ror.org/027t6ka17","country_code":"IN","type":"education","lineage":["https://openalex.org/I122328836"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Krishnamurthy Subramanian","raw_affiliation_strings":["Indian School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Indian School of Business","institution_ids":["https://openalex.org/I122328836"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5046112048","display_name":"Prasanna L. Tantri","orcid":"https://orcid.org/0000-0001-9378-4980","observed_orcids":["https://orcid.org/0000-0001-9378-4980","https://orcid.org/0009-0009-2679-501X"]},"institutions":[{"id":"https://openalex.org/I122328836","display_name":"Indian School of Business","ror":"https://ror.org/027t6ka17","country_code":"IN","type":"education","lineage":["https://openalex.org/I122328836"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Prasanna Tantri","raw_affiliation_strings":["Indian School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Indian School of Business","institution_ids":["https://openalex.org/I122328836"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":4.2942,"has_fulltext":true,"cited_by_count":28,"citation_normalized_percentile":{"value":0.9456845,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":90,"max":99},"biblio":{"volume":"61","issue":"4","first_page":"607","last_page":"635"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.4587000012397766,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.4587000012397766,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10987","display_name":"Microfinance and Financial Inclusion","score":0.15800000727176666,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12509","display_name":"Corporate Insolvency and Governance","score":0.1298000067472458,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/debt-relief","display_name":"debt relief","score":0.9940000176429749},{"id":"https://openalex.org/keywords/loan-default","display_name":"loan default","score":0.7940000295639038},{"id":"https://openalex.org/keywords/loan-performance","display_name":"loan performance","score":0.9409999847412109},{"id":"https://openalex.org/keywords/microfinance","display_name":"microfinance","score":0.3880000114440918}],"concepts":[{"id":"https://openalex.org/C2777543875","wikidata":"https://www.wikidata.org/wiki/Q797551","display_name":"Waiver","level":2,"score":0.9528104066848755},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.6942791938781738},{"id":"https://openalex.org/C2777764128","wikidata":"https://www.wikidata.org/wiki/Q189539","display_name":"Loan","level":2,"score":0.6698006987571716},{"id":"https://openalex.org/C49630185","wikidata":"https://www.wikidata.org/wiki/Q6980675","display_name":"Natural experiment","level":2,"score":0.5475987195968628},{"id":"https://openalex.org/C66912227","wikidata":"https://www.wikidata.org/wiki/Q2138712","display_name":"Regression discontinuity design","level":2,"score":0.5325559377670288},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.453614741563797},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.41503870487213135},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.40685394406318665},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.36197352409362793},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2633057236671448},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.11976197361946106},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C142724271","wikidata":"https://www.wikidata.org/wiki/Q7208","display_name":"Pathology","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1086/701902","doi":"https://doi.org/10.1086/701902","is_oa":true,"landing_page_url":"https://doi.org/10.1086/701902","pdf_url":"https://www.journals.uchicago.edu/doi/epdf/10.1086/701902","source":{"id":"https://openalex.org/S998097505","display_name":"The Journal of Law and Economics","issn_l":"0022-2186","issn":["0022-2186","1537-5285"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-2","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315672","host_organization_name":"University of Chicago Press","host_organization_lineage":["https://openalex.org/P4310315672","https://openalex.org/P4310315690"],"host_organization_lineage_names":["University of Chicago Press","University of Chicago"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Law and Economics","raw_type":"journal-article"},{"id":"pmh:oai:eprints.exchange.isb.edu:1059","doi":null,"is_oa":false,"landing_page_url":"https://eprints.exchange.isb.edu/id/eprint/1059/1/Borrower%20Distress%20and%20Debt%20Relief%20Evidence%20From%20a%20Natural%20Experiment.pdf","pdf_url":"https://eprints.exchange.isb.edu/id/eprint/1059/1/Borrower%20Distress%20and%20Debt%20Relief%20Evidence%20From%20a%20Natural%20Experiment.pdf","source":{"id":"https://openalex.org/S4377196660","display_name":"Digital Eprints Services at ISB (DESI) (Indian School of Business)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I122328836","host_organization_name":"Indian School of Business","host_organization_lineage":["https://openalex.org/I122328836"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Article"},{"id":"pmh:oai:chicagounbound.uchicago.edu:jle-2593","doi":null,"is_oa":false,"landing_page_url":"https://chicagounbound.uchicago.edu/jle/vol61/iss4/3","pdf_url":null,"source":{"id":"https://openalex.org/S7407064349","display_name":"bepress Legal Repository","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Journal of Law and Economics","raw_type":"text"},{"id":"pmh:oai:eprints.exchange.isb.edu:1201","doi":null,"is_oa":false,"landing_page_url":"http://eprints.exchange.isb.edu/1201/","pdf_url":null,"source":{"id":"https://openalex.org/S4377196660","display_name":"Digital Eprints Services at ISB (DESI) (Indian School of Business)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I122328836","host_organization_name":"Indian School of Business","host_organization_lineage":["https://openalex.org/I122328836"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Article"}],"best_oa_location":{"id":"doi:10.1086/701902","doi":"https://doi.org/10.1086/701902","is_oa":true,"landing_page_url":"https://doi.org/10.1086/701902","pdf_url":"https://www.journals.uchicago.edu/doi/epdf/10.1086/701902","source":{"id":"https://openalex.org/S998097505","display_name":"The Journal of Law and Economics","issn_l":"0022-2186","issn":["0022-2186","1537-5285"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-2","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315672","host_organization_name":"University of Chicago Press","host_organization_lineage":["https://openalex.org/P4310315672","https://openalex.org/P4310315690"],"host_organization_lineage_names":["University of Chicago Press","University of Chicago"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Law and Economics","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.666700005531311,"id":"https://metadata.un.org/sdg/1","display_name":"No poverty"},{"score":0.5473999977111816,"id":"https://metadata.un.org/sdg/16","display_name":"Peace, justice, and strong institutions"},{"score":0.48510000109672546,"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth"}],"sustainable_development_goals_aurora":[],"study_designs":[{"id":"https://openalex.org/study-designs/observational-study","display_name":"Observational Study"}],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2945293104.pdf","grobid_xml":"https://content.openalex.org/works/W2945293104.grobid-xml"},"referenced_works_count":34,"referenced_works":["https://openalex.org/W1599469021","https://openalex.org/W1826015852","https://openalex.org/W1977031847","https://openalex.org/W1979493937","https://openalex.org/W1997400831","https://openalex.org/W2013011676","https://openalex.org/W2016268342","https://openalex.org/W2032014665","https://openalex.org/W2047511771","https://openalex.org/W2064482540","https://openalex.org/W2080717920","https://openalex.org/W2103680961","https://openalex.org/W2106477452","https://openalex.org/W2114242548","https://openalex.org/W2133756183","https://openalex.org/W2139142975","https://openalex.org/W2144969436","https://openalex.org/W2462685879","https://openalex.org/W2525562305","https://openalex.org/W2739858810","https://openalex.org/W3121485292","https://openalex.org/W3121492802","https://openalex.org/W3121611131","https://openalex.org/W3121955660","https://openalex.org/W3122175862","https://openalex.org/W3122958054","https://openalex.org/W3123265974","https://openalex.org/W3123521409","https://openalex.org/W3125891475","https://openalex.org/W4243583392","https://openalex.org/W4245849227","https://openalex.org/W4253983263","https://openalex.org/W4292321532","https://openalex.org/W4298863114"],"related_works":["https://openalex.org/W1535517339","https://openalex.org/W6990188469","https://openalex.org/W7096179751","https://openalex.org/W4248346907","https://openalex.org/W1918800633","https://openalex.org/W2507627938","https://openalex.org/W3121955660","https://openalex.org/W2337918531","https://openalex.org/W4400945259","https://openalex.org/W4417312080"],"abstract_inverted_index":{"Using":[0],"unique":[1],"borrower-level":[2,59],"data,":[3],"we":[4,61,97],"study":[5],"the":[6,13,33,54,68,87],"causal":[7],"effect":[8],"of":[9,16,48,73,79,89],"debt":[10,36,90],"relief":[11,91],"on":[12,42,64],"loan":[14],"performance":[15,63,72],"distressed":[17,80,93],"and":[18,46,94],"nondistressed":[19,74,95],"borrowers.":[20],"We":[21],"employ":[22],"a":[23],"regression":[24],"discontinuity":[25],"design":[26],"that":[27,78],"exploits":[28],"exogenous":[29,58],"cutoff":[30],"dates":[31],"underlying":[32],"2008":[34],"Indian":[35],"waiver":[37,55,69],"program":[38,56],"to":[39],"separate":[40],"defaulters":[41],"loans":[43,65],"into":[44],"beneficiaries":[45,75],"nonbeneficiaries":[47],"waivers.":[49],"By":[50],"identifying":[51],"distress":[52],"before":[53],"using":[57],"shocks,":[60],"examine":[62],"originated":[66],"after":[67],"program.":[70],"Loan":[71],"worsens,":[76],"while":[77],"borrowers":[81],"improves.":[82],"While":[83],"existing":[84],"studies":[85],"aggregate":[86],"effects":[88],"across":[92],"borrowers,":[96],"highlight":[98],"crucial":[99],"differences":[100],"between":[101],"them.":[102]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":7}],"updated_date":"2026-10-27T15:51:10.671819","created_date":"2019-05-29T00:00:00"}
