Publication: Getting Out of Debt: Attachment of wage in whose interest?
Getting Out of Debt: Attachment of wage in whose interest?
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Zaborowski, C., & Zweifel, P. (1998). Getting Out of Debt: Attachment of wage in whose interest? (No. 9802; Working Paper Series / Socioeconomic Institute).
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Attachment of wage as a way for creditors to enforce payment by unwilling or insolvent debtors is not very successful in several countries. Based on a dynamic model of debtor behaviour, this paper explores two alternatives of reform. One is to reduce the rate of attachment, which at present amounts to 100 percent of the wage income exceeding the subsistence level, thus probably destroying incentives to work. According to model simulations, reducing the attachment rate is likely to result in an increase of labour supply but a decrease
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K29
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Zaborowski, C., & Zweifel, P. (1998). Getting Out of Debt: Attachment of wage in whose interest? (No. 9802; Working Paper Series / Socioeconomic Institute).
