NBER WORKING PAPER SERIES Joshua Aizenman Nancy Marion
... about 30 percent to over 40 percent, reaching a proportion last seen in the mid-1980s. Treasury inflation-protected securities, or TIPS, were first introduced in 1997 for notes and in 1998 for bonds. In nominal terms, they have increased from $24.4 billion in 1997 to $531.9 billion in June, 2009. Ho ...
... about 30 percent to over 40 percent, reaching a proportion last seen in the mid-1980s. Treasury inflation-protected securities, or TIPS, were first introduced in 1997 for notes and in 1998 for bonds. In nominal terms, they have increased from $24.4 billion in 1997 to $531.9 billion in June, 2009. Ho ...
Document
... • Non-systemic events—such as for example, people being persuaded by the failure of the system that the system must be changed – There is a limit to modelling—institutions and evolution and human agency must also be understood… – But we do at least get a better handle on the system by knowing its ch ...
... • Non-systemic events—such as for example, people being persuaded by the failure of the system that the system must be changed – There is a limit to modelling—institutions and evolution and human agency must also be understood… – But we do at least get a better handle on the system by knowing its ch ...
Chapter 9 - Cost of Capital
... A break point is a level of financing at which ka increases because one of the individual costs increased. In the example that follows only retained earnings break points will be illustrated. In practice, however, changes in the costs of all components (e.g., debt, preferred stock) must be taken ...
... A break point is a level of financing at which ka increases because one of the individual costs increased. In the example that follows only retained earnings break points will be illustrated. In practice, however, changes in the costs of all components (e.g., debt, preferred stock) must be taken ...
Bond Issues
... What are project financing arrangement? Classification of liabilities Entries for bond transactions Entries for non-interest –bearing debt Long-term debt disclosure ...
... What are project financing arrangement? Classification of liabilities Entries for bond transactions Entries for non-interest –bearing debt Long-term debt disclosure ...
Using Inflation to Erode the US Public Debt
... about 30 percent to over 40 percent, reaching a proportion last seen in the mid-1980s. Treasury inflation-protected securities, or TIPS, were first introduced in 1997 for notes and in 1998 for bonds. In nominal terms, they have increased from $24.4 billion in 1997 to $531.9 billion in June, 2009. Ho ...
... about 30 percent to over 40 percent, reaching a proportion last seen in the mid-1980s. Treasury inflation-protected securities, or TIPS, were first introduced in 1997 for notes and in 1998 for bonds. In nominal terms, they have increased from $24.4 billion in 1997 to $531.9 billion in June, 2009. Ho ...
Markov-Perfect Optimal Fiscal Policy: The Case of
... an optimal policy with income taxation, issues of debt and, consequently, positive wedges. As we show below, the existence of this latter equilibrium hinges on the assumption that the economy runs for an infinite number of periods, and therefore there is no last government unable to pass on the burd ...
... an optimal policy with income taxation, issues of debt and, consequently, positive wedges. As we show below, the existence of this latter equilibrium hinges on the assumption that the economy runs for an infinite number of periods, and therefore there is no last government unable to pass on the burd ...
Questioni di Economia e Finanza
... in October 2010, on having distressed sovereigns restructure their debts to private creditors. Although some challenge the causal link (e.g. Mody, 2015), others point out that ‘even as late as April 2010, after the first sampling indicated the scale of the [Irish] banking losses, sovereign spreads w ...
... in October 2010, on having distressed sovereigns restructure their debts to private creditors. Although some challenge the causal link (e.g. Mody, 2015), others point out that ‘even as late as April 2010, after the first sampling indicated the scale of the [Irish] banking losses, sovereign spreads w ...
Pakistan: Defense Expenditures and External Debt: Patterns of Causation and Constraint
... by the country's lagging foreign exchange earnings and rapidly growing import requirements. They may also be indicative of increased levels of arms imports. Particularly that from foreign governments and banks during the period of rapid defense expenditures in the 1960s. As noted earlier, little emp ...
... by the country's lagging foreign exchange earnings and rapidly growing import requirements. They may also be indicative of increased levels of arms imports. Particularly that from foreign governments and banks during the period of rapid defense expenditures in the 1960s. As noted earlier, little emp ...
Government Debt and Deficits
... evangelicals making strong statements against debt accumulation and politically liberal evangelicals agreeing that debt is a moral issue but pointing out that other policy issues such as poverty and war are equally compelling moral issues. The causes of debt accumulation in modern western economies ...
... evangelicals making strong statements against debt accumulation and politically liberal evangelicals agreeing that debt is a moral issue but pointing out that other policy issues such as poverty and war are equally compelling moral issues. The causes of debt accumulation in modern western economies ...
Issuance of New Money Bonds Remains Low in Large U.S. Cities
... projects such as roads, bridges, schools, and libraries. For example, all local governments accounted for 35 percent of total highway and transit spending from 2008 through 2012.1 To pay for these projects, cities often sell bonds on the municipal market. In the years following an economic downturn, ...
... projects such as roads, bridges, schools, and libraries. For example, all local governments accounted for 35 percent of total highway and transit spending from 2008 through 2012.1 To pay for these projects, cities often sell bonds on the municipal market. In the years following an economic downturn, ...
Ind.
... strong liquidity position (which is good) or excessive cash ( which is bad) because excess cash is non earning assets. Example 2, high fixed turnover ratio may indicate either the firm uses its assets efficiently, or that it is short of cash and cannot afford to make the needed investment in fixed a ...
... strong liquidity position (which is good) or excessive cash ( which is bad) because excess cash is non earning assets. Example 2, high fixed turnover ratio may indicate either the firm uses its assets efficiently, or that it is short of cash and cannot afford to make the needed investment in fixed a ...
Company Overview - Cabot Credit Management
... publication, availability or use would be contrary to law or regulation of such jurisdiction or which would require any registration or licensing within such jurisdiction. The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of ...
... publication, availability or use would be contrary to law or regulation of such jurisdiction or which would require any registration or licensing within such jurisdiction. The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of ...
Fiscal Governance in the Eurozone: How Effectively Does
... interest rates for euro countries than non-euro counties with comparable debt levels like Japan, the United States and the United Kingdom (EIU 2011). The political consequences of the European sovereign debt crisis are particularly severe for the euro countries Greece, Portugal and Ireland, which ca ...
... interest rates for euro countries than non-euro counties with comparable debt levels like Japan, the United States and the United Kingdom (EIU 2011). The political consequences of the European sovereign debt crisis are particularly severe for the euro countries Greece, Portugal and Ireland, which ca ...
THE DETERMINANTS OF CORPORATE CAPITAL STRUCTURE
... 1958. Their theory evolved into two main theories; static trade off theory by Krauz & Litzebnerger (1973), and pecking order theory by Myers & Majluf (1984). The studies related to corporate capital structure often use firms in developed countries as their sample data. Japan, which is one of the lar ...
... 1958. Their theory evolved into two main theories; static trade off theory by Krauz & Litzebnerger (1973), and pecking order theory by Myers & Majluf (1984). The studies related to corporate capital structure often use firms in developed countries as their sample data. Japan, which is one of the lar ...
Download Full Article
... because they have more strength to absorb the risk of bankruptcy. If larger firm defaults in any case the bankruptcy costs for such firm will be low as proportion of their total worth, which is the prime reason of taking more debt by larger firms. The smaller firms take less debt because of their fe ...
... because they have more strength to absorb the risk of bankruptcy. If larger firm defaults in any case the bankruptcy costs for such firm will be low as proportion of their total worth, which is the prime reason of taking more debt by larger firms. The smaller firms take less debt because of their fe ...
M F L
... raises the issue of its stability and sustainability. Debt (inclusive of the public account liabilities) is considered sustainable if the debt/GDP ratio does not grow to explosive proportion. A necessary condition for this stability is that the average interest rate on total debt should be less than ...
... raises the issue of its stability and sustainability. Debt (inclusive of the public account liabilities) is considered sustainable if the debt/GDP ratio does not grow to explosive proportion. A necessary condition for this stability is that the average interest rate on total debt should be less than ...
The State of Full Cost Pricing: - Florida Rural Water Association
... pricing practices are diverse for both big and small systems alike. Many large systems have good asset management and capital financing programs that are tied to a full cost rates as exemplified by Charlotte‐ Mecklenburg Utilities (CMU). In addition to their fully funded annual budget, CMU has a ...
... pricing practices are diverse for both big and small systems alike. Many large systems have good asset management and capital financing programs that are tied to a full cost rates as exemplified by Charlotte‐ Mecklenburg Utilities (CMU). In addition to their fully funded annual budget, CMU has a ...
CHAPTER 17 Financial Planning and Forecasting
... supported by the current level of assets is: ◦ Capacity sales = Actual sales / % of capacity ...
... supported by the current level of assets is: ◦ Capacity sales = Actual sales / % of capacity ...
1 - Blackwell Publishing
... What three factors should financial managers consider when setting a firm’s capital structure? How might each factor affect the capital structure choice? When setting a firm’s capital structure, financial managers should consider taxes, risk, and the types of the firm assets. A firm with large taxab ...
... What three factors should financial managers consider when setting a firm’s capital structure? How might each factor affect the capital structure choice? When setting a firm’s capital structure, financial managers should consider taxes, risk, and the types of the firm assets. A firm with large taxab ...
Public Debt Overhangs: Advanced- Economy Episodes Since 1800 †
... by Reinhart and Rogoff (2009) to examine the growth and interest rates associated with prolonged periods of exceptionally high public debt, defined as episodes where public debt to GDP exceeded 90 percent for at least five years. (The basic results here are reasonably robust to choices other than 90 ...
... by Reinhart and Rogoff (2009) to examine the growth and interest rates associated with prolonged periods of exceptionally high public debt, defined as episodes where public debt to GDP exceeded 90 percent for at least five years. (The basic results here are reasonably robust to choices other than 90 ...
LO 3 Explain the accounting for stock investments.
... Pension funds and banks regularly invest in debt and stock securities to: a. house excess cash until needed. b. generate earnings. c. meet strategic goals. d. avoid a takeover by disgruntled investors. ...
... Pension funds and banks regularly invest in debt and stock securities to: a. house excess cash until needed. b. generate earnings. c. meet strategic goals. d. avoid a takeover by disgruntled investors. ...
A Probabilistic Approach to Fiscal Space and Prudent Debt Level
... is that it applies the methodology to LIDCs, a group with limited estimation of fiscal space in the literature. Our proposed approach parallels Ostry and others (2010), where the authors compute the available fiscal space for a panel of 23 advanced economies as the difference between the current lev ...
... is that it applies the methodology to LIDCs, a group with limited estimation of fiscal space in the literature. Our proposed approach parallels Ostry and others (2010), where the authors compute the available fiscal space for a panel of 23 advanced economies as the difference between the current lev ...
A Graceful Return of the Drachma
... future tax obligations, and external debt does not increase. Therefore, our model must not exhibit the standard Ricardian Equivalence. And not only must domestic agents fail to save to acquire growing government debt – foreign agents must be willing to acquire the growing debt of the small open eco ...
... future tax obligations, and external debt does not increase. Therefore, our model must not exhibit the standard Ricardian Equivalence. And not only must domestic agents fail to save to acquire growing government debt – foreign agents must be willing to acquire the growing debt of the small open eco ...
Chapter 11: Accounting
... 3. Easier to Borrow in the Future: a bank would consider the debt equity ratio when determining if a business is likely to be able to repay its loan. 4. Easy to sell shares in the future: higher dividends should attract more shareholders in the future. ...
... 3. Easier to Borrow in the Future: a bank would consider the debt equity ratio when determining if a business is likely to be able to repay its loan. 4. Easy to sell shares in the future: higher dividends should attract more shareholders in the future. ...
Financial Planning, PowerPoint Show
... additional financing. If AFN is negative, then you have more financing than is needed. ...
... additional financing. If AFN is negative, then you have more financing than is needed. ...
Government debt
Government debt (also known as public debt, national debt and sovereign debt) is the debt owed by a central government. (In federal states, ""government debt"" may also refer to the debt of a state or provincial, municipal or local government.) By contrast, the annual ""government deficit"" refers to the difference between government receipts and spending in a single year, that is, the increase of debt over a particular year.Government debt is one method of financing government operations, but it is not the only method. Governments can also create money to monetize their debts, thereby removing the need to pay interest. But this practice simply reduces government interest costs rather than truly canceling government debt, and can result in hyperinflation if used unsparingly.Governments usually borrow by issuing securities, government bonds and bills. Less creditworthy countries sometimes borrow directly from a supranational organization (e.g. the World Bank) or international financial institutions.As the government draws its income from much of the population, government debt is an indirect debt of the taxpayers. Government debt can be categorized as internal debt (owed to lenders within the country) and external debt (owed to foreign lenders). Another common division of government debt is by duration until repayment is due. Short term debt is generally considered to be for one year or less, long term is for more than ten years. Medium term debt falls between these two boundaries. A broader definition of government debt may consider all government liabilities, including future pension payments and payments for goods and services the government has contracted but not yet paid.