We examine trends in bankruptcy completion times and financial characteristics for farmers filing for chapter 12 bankruptcy after it became a permanent fixture in bankruptcy law to assess justifications for the recently enacted Family Farmer Bankruptcy Clarification Act of 2017 and Family Farmer Relief Act of 2019. Since 2007, chapter 12 filers have seen noticeable increases in their debt levels whereas alternative business bankruptcies have either stagnated or declined in their debt. Using survival analysis methods to correct for the censored nature of open cases, we find that the average time to completion has consistently been longer for chapter 12 than the comparable chapters (7, 11, and 13) of business bankruptcies. Although chapter 12 completion times have not been increasing over time, we find that chapter 7 and 11 completion times have been declining over time for comparable businesses and that debt levels are a significant factor in increased completion times. Our results are consistent with claims that farmers have had rising debt levels in comparison to similar businesses filing for bankruptcy and provide evidence that farmers with increasing debt have had a more difficult time restructuring through chapter 12. EconLit citations: G33, K35, Q14, Q18.

中文翻译：

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农场破产申请的生存分析：评估完成第12章破产案件所需的时间

自2007年第12章申请成为永久破产法之后，我们研究了申请破产的农民的破产完成时间和财务特征的趋势，以评估最近颁布的2017年《家庭农民破产澄清法》和2019年《家庭农民救济法》的理由。自2007年以来，第12章的申报人的债务水平显着增加，而其他商业破产的债务则停滞不前或下降了。使用生存分析方法纠正未结案件的审查性质，我们发现第十二章的平均完成时间一直比商业破产的同类章节（第7、11和13章）更长。尽管第12章的完成时间并没有随着时间的推移而增加，我们发现，可比企业的第7章和第11章的完成时间一直在减少，而债务水平是增加完成时间的重要因素。我们的结果与声称农民相比申请破产的类似企业的债务水平上升的说法相符，并提供了证据表明负债不断增加的农民在第12章中进行重组的时间更加困难。EconLit引文：G33，K35，Q14，Q18 。