The Relationship of Pari‐mutuel Wagering and Casino Gaming to Personal Bankruptcy

Thalheimer, Richard; Ali, Mukhtar M.

doi:10.1093/cep/byh031

Cited by 22 publications

(15 citation statements)

References 16 publications

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“…As Consistent with Barron et al (2002) and Thalheimer (2004), the influence of Mississippi casinos nationwide is very small and localized. As presented earlier, bankruptcies nationwide are predicted to be 3.2 per 10,000 people greater as a result of Mississippi casinos.…”

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confidence: 89%

“…After controlling for county-level fixed effects and the unemployment rate, the authors found no significant relationship between casino gambling available within 50 miles and personal bankruptcy filings. Thalheimer and Ali (2004) examined personal bankruptcy rates over the period 1990 to 1997 in the riverboat gambling states of Iowa, Illinois, Missouri, and Mississippi. Controlling for various social, economic, and legal factors, the authors found that access to casino gambling had no significant influence on personal bankruptcies.…”

Section: Personal Bankruptcy and Casino Gamblingmentioning

confidence: 99%

“…Controlling for various social, economic, and legal factors, the authors found that access to casino gambling had no significant influence on personal bankruptcies. However, Thalheimer and Ali (2004) estimated that personal bankruptcy rates, on average, would have been 0.4 percent lower in the absence of casino gambling. Nichols et al (2000) used a difference-in-difference methodology to compare bankruptcy rates in eight communities that adopted casino gambling during the 1990s with a group of control communities, matched by a set of fifteen economic and demographic characteristics.…”

Section: Personal Bankruptcy and Casino Gamblingmentioning

confidence: 99%

See 2 more Smart Citations

Do casinos export bankruptcy?

Garrett

Nichols

2008

The Journal of Socio-Economics

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This paper measures the extent to which destination resort casinos export bankruptcy back to visitors' home states. Previous literature has alluded to this possibility, but to date studies have only examined the influence of local casinos on local bankruptcy. Using various survey data, we calculate the number of visits from each state to casino resort destinations in Nevada, New Jersey, and Mississippi. We find strong evidence that states having more residents who visit out-of-state casino resorts have higher bankruptcy filings. This effect is dominant in the south, suggesting that casinos located in wealthier regions are less likely to export bankruptcy. AbstractThis paper measures the extent to which destination resort casinos export bankruptcy back to visitors' home states. Previous literature has alluded to this possibility, but to date studies have only examined the influence of local casinos on local bankruptcy. Using various survey data, we calculate the number of visits from each state to casino resort destinations in Nevada, New Jersey, and Mississippi. We find strong evidence that states having more residents who visit out-of-state casino resorts have higher bankruptcy filings. This effect is dominant in the south, suggesting that casinos located in wealthier regions are less likely to export bankruptcy.

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confidence: 89%

Section: Personal Bankruptcy and Casino Gamblingmentioning

confidence: 99%

Section: Personal Bankruptcy and Casino Gamblingmentioning

confidence: 99%

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Do casinos export bankruptcy?

Garrett

Nichols

2008

The Journal of Socio-Economics

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“…As illustrated by Figure 1 the increased use of credit cards and increased consumer debt (Durkin, 2000;White, 2007), the spread of casino gambling (Barron et al, 2002;Thalheimer and Ali, 2004;Garrett and Nichols, 2008), a reduced social stigma associated with filing for bankruptcy (Garrett, 2007), changes to state and federal bankruptcy laws (Nelson, 1999), and greater access to secured and unsecured credit (Gropp et al, 1997). …”

Section: The Personal-bankruptcy Literaturementioning

confidence: 99%

Personal-Bankruptcy Cycles

Garrett

Wall

2013

Macroecon. Dynam.

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This paper estimates the dynamics of the personal-bankruptcy rate over the business cycle by exploiting large cross-state variation. We find that bankruptcy rates are significantly higher than normal during a recession and rise as a recession persists. After a recession ends, there is a hangover whereby bankruptcy rates begin to fall but remain above normal for several more quarters. Recovery periods see a strong bounce-back effect with bankruptcy rates significantly below normal for several quarters. Despite the significant increases in bankruptcies during recessions, the largest contributor to rising bankruptcies during these periods has tended to be the longstanding upward trend. JEL: K35, D14, E32

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“…The literature on U.S. personal bankruptcy has focused on the dramatic rise in the increased use of credit cards and increased consumer debt (Durkin, 2000;White, 2007), the spread of casino gambling (Barron et al, 2002;Thalheimer and Ali, 2004;Garrett and Nichols, 2008), a reduced social stigma associated with filing for bankruptcy (Garrett, 2007), changes to state and federal bankruptcy laws (Nelson, 1999), and greater access to secured and unsecured credit (Gropp et al, 1997). …”

Section: The Personal-bankruptcy Literaturementioning

confidence: 99%