Publication: Getting out of debt: Garnishment of wage in whose interest?
Getting out of debt: Garnishment of wage in whose interest?
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Zaborowski, C., & Zweifel, P. (1999). Getting out of debt: Garnishment of wage in whose interest? European Journal of Law and Economics, 8(3), 207–230. https://doi.org/10.1023/A:1008795309844
Abstract
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Garnishment of wage as a way for creditors to enforce payment by unwilling or insolvent debtors, while very common in Germany and Switzerland, is not very successful. Based on a dynamic model of debtor behaviour, this paper explores two alternatives of reform. One is to reduce the rate of garnishment, which at present amounts to 100 percent of the wage income exceeding a defined subsistence level, thus probably destroying incentives to work. According to model simulations, reducing the rate of garnishment is likely to result in an inc
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- Zaborowski, Christoph
- Zweifel, Peter
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Zaborowski, C., & Zweifel, P. (1999). Getting out of debt: Garnishment of wage in whose interest? European Journal of Law and Economics, 8(3), 207–230. https://doi.org/10.1023/A:1008795309844