Should China Revisit the 1994 Fiscal Reforms?
... the budget and treasury systems (mandating the use of the Treasury Single Account system and injunctions on off-budget operations from the current year—although the effectiveness of the latter has yet to be determined) may lead to increasing reliance on indirect mechanisms to borrow for local invest ...
... the budget and treasury systems (mandating the use of the Treasury Single Account system and injunctions on off-budget operations from the current year—although the effectiveness of the latter has yet to be determined) may lead to increasing reliance on indirect mechanisms to borrow for local invest ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Privatizing Social Security
... come for only $15O.I4 Thus, forcing individuals to use the unfunded system dramatically increases their cost of buying retirement income. In the current example, a funded plan would permit individuals to buy retirement income at just 15 percent of the price that they must pay in the unfunded program ...
... come for only $15O.I4 Thus, forcing individuals to use the unfunded system dramatically increases their cost of buying retirement income. In the current example, a funded plan would permit individuals to buy retirement income at just 15 percent of the price that they must pay in the unfunded program ...
The Importance of Being Earnest
... needs relative to pre-retirement patterns. The reason: most median income retirees have greater inelastic spending needs that cannot be easily cut. For wealthier families in the Browns’ demographic, we assume greater conservation potential such that post-retirement cash flow needs can fall to 80% of ...
... needs relative to pre-retirement patterns. The reason: most median income retirees have greater inelastic spending needs that cannot be easily cut. For wealthier families in the Browns’ demographic, we assume greater conservation potential such that post-retirement cash flow needs can fall to 80% of ...
The Disappearing Corporate Tax Base
... Stock-based Pay Loophole – related to the executive compensation loophole above, the stock-based pay loophole allows companies to keep two sets of books. On the books the company shows to its shareholders, it reports stock options given to executives at the low value at the time they are issued. On ...
... Stock-based Pay Loophole – related to the executive compensation loophole above, the stock-based pay loophole allows companies to keep two sets of books. On the books the company shows to its shareholders, it reports stock options given to executives at the low value at the time they are issued. On ...
Boom, Bust or What? - Harry Walker Agency
... lecture hall at Columbia University, the economist and former adviser to both Bush presidents, Glenn Hubbard, wrote a series of words on the blackboard. Among them: Milton Friedman, Yeats, basketball. Hubbard, a mild and genial man, looks as if he entered the world fully formed, wearing a conservati ...
... lecture hall at Columbia University, the economist and former adviser to both Bush presidents, Glenn Hubbard, wrote a series of words on the blackboard. Among them: Milton Friedman, Yeats, basketball. Hubbard, a mild and genial man, looks as if he entered the world fully formed, wearing a conservati ...
A Portfolio Approach to the Optimal Funding of Pensions
... in less risky, lower return assets. While there may be other factors such as political independence of the investment board that are important, the level of risk in alternative available assets is also a crucial consideration. In the absence of another low risk alternative, individuals and pension f ...
... in less risky, lower return assets. While there may be other factors such as political independence of the investment board that are important, the level of risk in alternative available assets is also a crucial consideration. In the absence of another low risk alternative, individuals and pension f ...
Risk Management: a Review of Business Processes in the
... Initially this could be done by introducing a quarterly process split into monthly plans. The process should be implemented by appropriate enforcement of relevant commitments. Strengthen ties with procurement process, including options of introducing a portal or other mechanisms to disclose contract ...
... Initially this could be done by introducing a quarterly process split into monthly plans. The process should be implemented by appropriate enforcement of relevant commitments. Strengthen ties with procurement process, including options of introducing a portal or other mechanisms to disclose contract ...
4 Comparison with the Previous Convergence Programme and
... As a part of the EU’s multilateral fiscal surveillance and economic policy coordination process, the Czech Republic hereby submits the regularly updated Convergence Programme (the “CP”). The previous CP, submitted in March 2007, was based on the 2007 State Budget prepared by the former governments a ...
... As a part of the EU’s multilateral fiscal surveillance and economic policy coordination process, the Czech Republic hereby submits the regularly updated Convergence Programme (the “CP”). The previous CP, submitted in March 2007, was based on the 2007 State Budget prepared by the former governments a ...
CBO Long-Term Budget Outlook March 2017
... federal debt held by the public is now at its highest level since the end of World War II. If current laws generally remained unchanged, the Congressional Budget Office projects, growing budget deficits would boost that debt sharply over the next 30 years. During that period, federal spending for re ...
... federal debt held by the public is now at its highest level since the end of World War II. If current laws generally remained unchanged, the Congressional Budget Office projects, growing budget deficits would boost that debt sharply over the next 30 years. During that period, federal spending for re ...
Budget Review Full Version Final
... annual leave, wages and salaries and are calculated as follows: (i) Wages, Salaries, Annual Leave and Long Service Leave (Short-term Benefits) The provision for employees’ benefits to wages, salaries, annual leave and long service leave expected to be settled within 12 months represents the amount t ...
... annual leave, wages and salaries and are calculated as follows: (i) Wages, Salaries, Annual Leave and Long Service Leave (Short-term Benefits) The provision for employees’ benefits to wages, salaries, annual leave and long service leave expected to be settled within 12 months represents the amount t ...
TonenGeneral Sekiyu Consolidated Financial Results for 3rd
... Operating income in the oil segment and others decreased 37.2 billion yen versus the same period last year to negative 16.4 billion yen, due in large part to the following factors: The Dubai spot price increased from 36$/barrel at December end, 2008, to over 65$/barrel at September end this year. Th ...
... Operating income in the oil segment and others decreased 37.2 billion yen versus the same period last year to negative 16.4 billion yen, due in large part to the following factors: The Dubai spot price increased from 36$/barrel at December end, 2008, to over 65$/barrel at September end this year. Th ...
PowerPoint Template
... • Total interest expenses relative to the debt (including National Insurance) was 4.7% in 2010 as opposed to 5.0% in 2009. (decrease form 4.4% to 4.3% relative to GDP). • This decreased happened even though debt portfolio increased. • This decrease stems mainly from a drop in the interest rate, and ...
... • Total interest expenses relative to the debt (including National Insurance) was 4.7% in 2010 as opposed to 5.0% in 2009. (decrease form 4.4% to 4.3% relative to GDP). • This decreased happened even though debt portfolio increased. • This decrease stems mainly from a drop in the interest rate, and ...
The Spectre of Mortgage Fraud: A PRIMER
... or it could be both of us. That is, people who are relying on the unfunded systems--public sector pensions, Social Security, and Medicare--might find their benefits cut. Or people who are relying on personal savings could wind up having those savings taxed away in order to address the shortfalls in ...
... or it could be both of us. That is, people who are relying on the unfunded systems--public sector pensions, Social Security, and Medicare--might find their benefits cut. Or people who are relying on personal savings could wind up having those savings taxed away in order to address the shortfalls in ...
II. DOMESTIC ECONOMIC OUTLOOK
... Source: IMF, CBRT Calculations (1) In order to identify existence of a relation between credit growth rate and credit growth rate volatility, data (derived from the IMF database) regarding credits extended to private sector in 41 countries including ...
... Source: IMF, CBRT Calculations (1) In order to identify existence of a relation between credit growth rate and credit growth rate volatility, data (derived from the IMF database) regarding credits extended to private sector in 41 countries including ...
Liability - McGraw Hill Higher Education
... o Based on the response of legal counsel, the likelihood of the payment occurring was considered to be remote, so disclosure was not required. o However, because the amount was so large, and because there were concerns about the firm’s primary insurance carrier undergoing financial difficulty, Deloi ...
... o Based on the response of legal counsel, the likelihood of the payment occurring was considered to be remote, so disclosure was not required. o However, because the amount was so large, and because there were concerns about the firm’s primary insurance carrier undergoing financial difficulty, Deloi ...
Kenan Jarboe - National Academy of Sciences
... to regularize the intangibles-backed securities market. Undertake a review of the Basel II Accords to better understand their implications for intangible-backed lending. Coordinate with ongoing efforts at market reform, such as the President’s Working Group on Financial Markets, to ensure that intan ...
... to regularize the intangibles-backed securities market. Undertake a review of the Basel II Accords to better understand their implications for intangible-backed lending. Coordinate with ongoing efforts at market reform, such as the President’s Working Group on Financial Markets, to ensure that intan ...
Net revenue. Net revenue decreased slightly by 0.8 percent. This
... We generated adjusted EBITDA of EUR 18.0 billion, achieving the corporate target we originally communicated for the year. Positive effects included the focus on high-value revenue in connection with TV services and mobile data revenues (see Net revenue) and net exchange rate effects of EUR 0.3 billi ...
... We generated adjusted EBITDA of EUR 18.0 billion, achieving the corporate target we originally communicated for the year. Positive effects included the focus on high-value revenue in connection with TV services and mobile data revenues (see Net revenue) and net exchange rate effects of EUR 0.3 billi ...
PRESSRELEASE Downgraded to A4 , Brazilian economy gears
... rates and inflationary pressures have increased, while salaries have been growing very slowly. 2014 will be marked by low activity and high inflation. Thanks to the World Cup and presidential elections, the business calendar will be shorter in Brazil this year. The World Cup will only benefit specif ...
... rates and inflationary pressures have increased, while salaries have been growing very slowly. 2014 will be marked by low activity and high inflation. Thanks to the World Cup and presidential elections, the business calendar will be shorter in Brazil this year. The World Cup will only benefit specif ...
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... Support to firms liquidity through changes in the procedures and timing of some tax payments (-0.1% of GDP). ...
... Support to firms liquidity through changes in the procedures and timing of some tax payments (-0.1% of GDP). ...
pen04Conesa-2 225510 en
... Figure 1. The reason why we do that is because if the demographic shock is predictable the fiscal authority should have reacted to it in advance. However, we believe it is more interesting to focus on what should be done from now on, rather than focusing on what should have been done. In that sense ...
... Figure 1. The reason why we do that is because if the demographic shock is predictable the fiscal authority should have reacted to it in advance. However, we believe it is more interesting to focus on what should be done from now on, rather than focusing on what should have been done. In that sense ...
Budget 2017-18 - Budget Paper No. 1
... shown as positive, and increases to receipts are shown as negative. (b) Change in net cash flows from investments in financial assets for policy and liquidity purposes. Note: End of year data. ...
... shown as positive, and increases to receipts are shown as negative. (b) Change in net cash flows from investments in financial assets for policy and liquidity purposes. Note: End of year data. ...
2012-13 Executive Budget
... − Innovation Marketplace ~ The Innovation Marketplace portal will allow small companies to quickly find and investigate new technologies, startups to promote technologies to manufacturers and investors, and manufacturers to identify new customers and new markets. − Discovered in PA, Developed in PA ...
... − Innovation Marketplace ~ The Innovation Marketplace portal will allow small companies to quickly find and investigate new technologies, startups to promote technologies to manufacturers and investors, and manufacturers to identify new customers and new markets. − Discovered in PA, Developed in PA ...
United States of America Long-Term Rating Lowered To 'AA+' On
... growth of 3% and consumer price inflation near 2% annually over the decade. Our revised upside scenario--which, other things being equal, we view as consistent with the outlook on the 'AA+' long-term rating being revised to stable--retains these same macroeconomic assumptions. In addition, it incorp ...
... growth of 3% and consumer price inflation near 2% annually over the decade. Our revised upside scenario--which, other things being equal, we view as consistent with the outlook on the 'AA+' long-term rating being revised to stable--retains these same macroeconomic assumptions. In addition, it incorp ...
1520518
... In summary, the 2012 world economic have experienced a great number of difficulties. Economic growth and trade outcomes were lower than expected projections, unemployment was not been improved, risks of debt crisis continually strained macroeconomic stability and financial markets. Therefore, enhanc ...
... In summary, the 2012 world economic have experienced a great number of difficulties. Economic growth and trade outcomes were lower than expected projections, unemployment was not been improved, risks of debt crisis continually strained macroeconomic stability and financial markets. Therefore, enhanc ...
doc78
... creation and operation of the five major components of the program), plus support for contentspecific training workshops and TA consultations (done jointly by the partners). The Project Director also would be involved in offering training workshops and TA consultations in his areas of expertise, suc ...
... creation and operation of the five major components of the program), plus support for contentspecific training workshops and TA consultations (done jointly by the partners). The Project Director also would be involved in offering training workshops and TA consultations in his areas of expertise, suc ...
Expenditures in the United States federal budget
The United States federal budget contains a number of expenditures, which include mandatory programs such as the Medicare and Social Security programs, military spending, and discretionary funding for Cabinet Departments (e.g., United States Department of Justice) and agencies (e.g., Securities & Exchange Commission).During FY2014, the federal government spent $3.504 trillion on a budget or cash basis, up $50 billion or 1% vs. FY2013 spending of $3.455 trillion. Major categories of FY 2014 spending included: Social Security ($845B or 24% of spending), Healthcare such as Medicare and Medicaid ($831B or 24%), Defense Department ($596B or 17%), non-defense discretionary spending used to run federal Departments and Agencies ($583B or 17%), other mandatory programs such as food stamps and unemployment compensation ($420B or 12%) and interest ($229B or 6.5%).Expenditures are classified as mandatory, with payments required by specific laws, or discretionary, with payment amounts renewed annually as part of the budget process. Expenditures averaged 20.4% GDP over the past 40 years, generally ranging +/-2% GDP from that level. The 2014 spend was 20.3% GDP, versus 2013 spend of 20.8% GDP and a recent 2009 peak of 24.4% GDP.CBO projects that spending for Social Security, Healthcare programs and interest costs will rise relative to GDP over the 2015-2025 period, while defense and other discretionary spending will decline relative to GDP.Over the past 40 years, mandatory spending for programs such as Medicare and Social Security has grown as a share of the budget and relative to GDP, while other discretionary categories have declined. Medicare, Medicaid and Social Security grew from 4.3% of GDP in 1971 to 10.1% of GDP in 2012.In the long-run, expenditures related to Social Security, Medicare and Medicaid are growing considerably faster than the economy overall as the population matures. The Congressional Budget Office estimates that Social Security spending will rise from 4.8% of GDP in 2009 to 6.2% of GDP by 2035, where it will stabilize. However, CBO expects Medicare and Medicaid to continue growing, rising from 5.3% GDP in 2009 to 10.0% in 2035 and 19.0% by 2082. CBO has indicated healthcare spending per beneficiary is the primary long-term fiscal challenge. Further, multiple government and private sources have indicated the overall expenditure path is unsustainable.