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Simulated <strong>in</strong>strument<br />

CHAPTER 1. BANKRUPTCY 45<br />

11<br />

10.5<br />

10<br />

9.5<br />

9<br />

8.5<br />

8<br />

Figure 1.5: Simulated Instrument by State<br />

DE PANJMIOHSCNELAALKYTNWYILMONCUTHIINNYMDGAORWAIDCACONMWIVAMANDCTARMTAKIAFLMNOKAZSDWVMSMEVTNHRINVKSDCTX<br />

States<br />

Notes: The simulated <strong>in</strong>strument is log seizable assets for a constant, nationally<br />

representative sample of households as though they lived <strong>in</strong> each state. The sample is<br />

made up of un<strong>in</strong>sured <strong>and</strong> privately <strong>in</strong>sured households, exclud<strong>in</strong>g households with a head<br />

age 65 or older. Pooled 1999 to 2005 PSID, <strong>in</strong>flation-adjusted to 2005 us<strong>in</strong>g the CPI-U.<br />

See text for details on the seizable assets calculation.

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