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... however, continues to be how to achieve more rapid underlying rates of output growth, and break the decade-long pattern of anemic performance interspersed with recession. This cannot be achieved by macroeconomic policies alone, but requires decisive action to deal with long-standing structural imped ...
... however, continues to be how to achieve more rapid underlying rates of output growth, and break the decade-long pattern of anemic performance interspersed with recession. This cannot be achieved by macroeconomic policies alone, but requires decisive action to deal with long-standing structural imped ...
Community Currency Systems
... or indirectly by selling its bonds to commercial banks who use it as a legal reserve to issue more loans. In 1944, before the end of World War II, the major Western powers considered monetary stability as a absolute condition for the reconstruction of their economies. The USA held two-thirds of the ...
... or indirectly by selling its bonds to commercial banks who use it as a legal reserve to issue more loans. In 1944, before the end of World War II, the major Western powers considered monetary stability as a absolute condition for the reconstruction of their economies. The USA held two-thirds of the ...
Free Full text
... reforms to enhance competitiveness. While recognizing that the burden of adjustment has fallen disproportionately on wage earners, Directors emphasized the need to preserve and not reverse existing labor market reforms and complement them with additional efforts to bring Greece’s collective-dismissa ...
... reforms to enhance competitiveness. While recognizing that the burden of adjustment has fallen disproportionately on wage earners, Directors emphasized the need to preserve and not reverse existing labor market reforms and complement them with additional efforts to bring Greece’s collective-dismissa ...
n ation, Stock Prices And Leverage In Emerging Markets:
... inflation on the equity price. Noteworthy, not all sectors, but the big ones (above average capitalization) are the ones that show a positive correlation of inflation on stock prices conditional on leverage. One possible way to explain this is that small firms in small sectors suffer more financial ...
... inflation on the equity price. Noteworthy, not all sectors, but the big ones (above average capitalization) are the ones that show a positive correlation of inflation on stock prices conditional on leverage. One possible way to explain this is that small firms in small sectors suffer more financial ...
St. Kitts and Nevis
... Stand-By Arrangement in July 2014, with purchases of 532 percent of quota fully repaid as of end-April 2016. In 2015, economic activity remained robust and there was a sizeable fiscal surplus. This surplus, however, was significantly weaker than in recent years, owing to a slowdown in receipts from ...
... Stand-By Arrangement in July 2014, with purchases of 532 percent of quota fully repaid as of end-April 2016. In 2015, economic activity remained robust and there was a sizeable fiscal surplus. This surplus, however, was significantly weaker than in recent years, owing to a slowdown in receipts from ...
Inflation, default and sovereign debt
... contribute to the answer by sharpening our understanding of the role that debt ownership and denomination plays in determining macroeconomic outcomes including default and ination risk. The framework of our analysis is a dynamic general equilibrium theory of optimal monetary and scal policy with i ...
... contribute to the answer by sharpening our understanding of the role that debt ownership and denomination plays in determining macroeconomic outcomes including default and ination risk. The framework of our analysis is a dynamic general equilibrium theory of optimal monetary and scal policy with i ...
What Are Services?
... use or to give away, acquired from an economy by nonresidents during visits to that economy Travel debits cover goods and services for own use or to give away acquired from other economies by residents during visits to other economies The standard component breakdown of travel is between business an ...
... use or to give away, acquired from an economy by nonresidents during visits to that economy Travel debits cover goods and services for own use or to give away acquired from other economies by residents during visits to other economies The standard component breakdown of travel is between business an ...
The Aggregate Demand for Treasury Debt
... supply of Treasury securities traces out a downward sloping demand curve for Treasuries. We estimate the semi-elasticity of the corporate bond spread to the Debt/GDP ratio, finding that a hypothetical increase in the Debt/GDP ratio from the current level of 0.37 to a new level of 0.38 will raise lon ...
... supply of Treasury securities traces out a downward sloping demand curve for Treasuries. We estimate the semi-elasticity of the corporate bond spread to the Debt/GDP ratio, finding that a hypothetical increase in the Debt/GDP ratio from the current level of 0.37 to a new level of 0.38 will raise lon ...
The Determinants of Corporate Bond Yield Spreads in
... 1. Introduction The cost of capital - in particular the cost of debt - is an important determinant of economic growth in emerging economies. Borrowers in emerging countries – be it the government itself or the country's firms – that are able to tap international capital markets generally pay a cons ...
... 1. Introduction The cost of capital - in particular the cost of debt - is an important determinant of economic growth in emerging economies. Borrowers in emerging countries – be it the government itself or the country's firms – that are able to tap international capital markets generally pay a cons ...
The fiscal space in emerging market economies
... limit is not defined, which means that the paths of the debt ratio are explosive. Other authors such as Zandi et al (2011), Fournier and Fall (2015) and Pommier (2015) have used this methodology to estimate the debt limit for other samples of advanced economies. In the second approach, a threshold o ...
... limit is not defined, which means that the paths of the debt ratio are explosive. Other authors such as Zandi et al (2011), Fournier and Fall (2015) and Pommier (2015) have used this methodology to estimate the debt limit for other samples of advanced economies. In the second approach, a threshold o ...
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... major creditors in that same month and ceased interest payments on its bonds in early December of 2006. The payment suspension thus occurred just prior to the finalization of its debt exchange in January of 2007, but more than three months after the start of negotiations. In addition, the governmen ...
... major creditors in that same month and ceased interest payments on its bonds in early December of 2006. The payment suspension thus occurred just prior to the finalization of its debt exchange in January of 2007, but more than three months after the start of negotiations. In addition, the governmen ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... gains from greater business capital accumulation from reducing even modest rates of inflation.* Indeed, the present value of gains from reducing inflation substantially exceeds the costs of disinflation estimated by Ball (1994). In this paper, we extend prior approaches to estimating the impact of d ...
... gains from greater business capital accumulation from reducing even modest rates of inflation.* Indeed, the present value of gains from reducing inflation substantially exceeds the costs of disinflation estimated by Ball (1994). In this paper, we extend prior approaches to estimating the impact of d ...
MONETARY POLICY REPORT CENTRAL BANK OF THE REPUBLIC OF TURKEY APRIL 2003
... crude oil prices and exchange rates coupled with rapid increase in agricultural and food prices led to a halt in the downward trend of inflation in the first quarter of 2003. However, continued sluggish domestic demand restricted the effect of the rise in costs on consumer prices. Consequently, annu ...
... crude oil prices and exchange rates coupled with rapid increase in agricultural and food prices led to a halt in the downward trend of inflation in the first quarter of 2003. However, continued sluggish domestic demand restricted the effect of the rise in costs on consumer prices. Consequently, annu ...
The Dollar Hegemony And The US-china Monetary Disputes
... other industrialized countries on exchange rate level in the 1980s were early precedent for today’s disputes. This thesis tries to explain the current Sino-American monetary frictions from the political economy perspective. Both national and international political economy analyses are used to see ...
... other industrialized countries on exchange rate level in the 1980s were early precedent for today’s disputes. This thesis tries to explain the current Sino-American monetary frictions from the political economy perspective. Both national and international political economy analyses are used to see ...
Award - italaw
... difficulties that would have serious consequences for the country, its people, and its investors, both foreign and national. Indeed, the country would within a short time plunge into the worst economic and political crisis in its history. As described in the Decision on Liability (¶¶ 41-57), the Arg ...
... difficulties that would have serious consequences for the country, its people, and its investors, both foreign and national. Indeed, the country would within a short time plunge into the worst economic and political crisis in its history. As described in the Decision on Liability (¶¶ 41-57), the Arg ...
OPTIMAL TAXATION WITH ENDOGENOUS DEFAULT UNDER INCOMPLETE MARKETS
... faces exogenous offers to pay a fraction of the defaulted debt that arrive at an exogenous rate.5 The government has the option to accept the offer – and thus exit financial autarky – or to stay in financial autarky until a new offer comes. Since these offers may not arrive immediately, during tempo ...
... faces exogenous offers to pay a fraction of the defaulted debt that arrive at an exogenous rate.5 The government has the option to accept the offer – and thus exit financial autarky – or to stay in financial autarky until a new offer comes. Since these offers may not arrive immediately, during tempo ...
Austerity: The History of a Dangerous Idea
... Take the reason S&P’s gave for downgrading the US credit rating. They claimed that, “the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate … will remain a contentious and fitful process.”3 Yet the DJIA didn’t fall off a cliff because of the downgrade ...
... Take the reason S&P’s gave for downgrading the US credit rating. They claimed that, “the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate … will remain a contentious and fitful process.”3 Yet the DJIA didn’t fall off a cliff because of the downgrade ...
gentherm incorporated - corporate
... regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the audited annual consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitte ...
... regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the audited annual consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitte ...
Author`s Note, Crash Proof 2.0
... economy to be science fiction. More than two years later, in mid-2009, the business and investment shelves of bookstores were filled with new releases analyzing the calamities of the previous two years and offering various theories about the future. With all due respect to my fellow authors, however ...
... economy to be science fiction. More than two years later, in mid-2009, the business and investment shelves of bookstores were filled with new releases analyzing the calamities of the previous two years and offering various theories about the future. With all due respect to my fellow authors, however ...
2013 IMF Article IV Staff Report for South Africa
... been among the highest for main EM currencies. During August 2012–April 2013, the yield on the 10-year South African government bond rose by 40 bps, while those of most of EMs declined. In May and June 2013, South Africa’s currency and bond sell-offs have been among the largest in EMs, accompanied b ...
... been among the highest for main EM currencies. During August 2012–April 2013, the yield on the 10-year South African government bond rose by 40 bps, while those of most of EMs declined. In May and June 2013, South Africa’s currency and bond sell-offs have been among the largest in EMs, accompanied b ...
Kingdom of Lesotho: 2015 Article IV Consultation -
... than 6 percent, anchored by the loti’s parity with the South African rand under the Common Monetary Area (CMA). Despite this performance, unemployment rates have remained high, especially among the youth, and the incidence of poverty (57 percent of the total population) is virtually unchanged from a ...
... than 6 percent, anchored by the loti’s parity with the South African rand under the Common Monetary Area (CMA). Despite this performance, unemployment rates have remained high, especially among the youth, and the incidence of poverty (57 percent of the total population) is virtually unchanged from a ...
Financial Aspects of Recent Trends in the Global Economy
... Thus, the goal of this book - Financial Aspects of the Recent Trends in the Global Economy (FINART) - is to encourage the exchange of new ideas about challenges in global trends in finance in the view of wide aspects of current financial and (public, corporate, households) debt crisis. The book cons ...
... Thus, the goal of this book - Financial Aspects of the Recent Trends in the Global Economy (FINART) - is to encourage the exchange of new ideas about challenges in global trends in finance in the view of wide aspects of current financial and (public, corporate, households) debt crisis. The book cons ...
MINISTRY OF FINANCE REPUBLIC OF MACEDONIA Skopje
... Still, despite the normalization of the political and security situation, the Republic of Macedonia enters 2003 with fragile macroeconomic stability and heavy social burden. The last-year GDP growth rate of 0.3% postponed hopes for fast recovery of the Macedonian economy, and the exacerbation of pro ...
... Still, despite the normalization of the political and security situation, the Republic of Macedonia enters 2003 with fragile macroeconomic stability and heavy social burden. The last-year GDP growth rate of 0.3% postponed hopes for fast recovery of the Macedonian economy, and the exacerbation of pro ...
A Study on a Currency peg in the GCC Region with a Special Focus
... one currency and the value can be determined of one currency with respect to another currency. This is helpful especially when there are two different countries which are entering into a trading contract. The currency in which exchange would be made can be decided by the countries beforehand. This ...
... one currency and the value can be determined of one currency with respect to another currency. This is helpful especially when there are two different countries which are entering into a trading contract. The currency in which exchange would be made can be decided by the countries beforehand. This ...
How to do a Debt Sustainability Analysis for Low
... Short-term external debt is any debt with an original maturity of one year or less. Trade credits, for example, often have a maturity of less than one year. Short-term external debt may by public and publicly guaranteed, however it is generally shown separately. The LIC external template has therefo ...
... Short-term external debt is any debt with an original maturity of one year or less. Trade credits, for example, often have a maturity of less than one year. Short-term external debt may by public and publicly guaranteed, however it is generally shown separately. The LIC external template has therefo ...