Government Debt
... and to avoid suspended payments. In the long run, the country is dependent of a wellfunctioning government finance and high growth. Countries have the opportunity to borrow as long as they are able to repay loans, although the problems arise when the confidence in a country's ability of paying back ...
... and to avoid suspended payments. In the long run, the country is dependent of a wellfunctioning government finance and high growth. Countries have the opportunity to borrow as long as they are able to repay loans, although the problems arise when the confidence in a country's ability of paying back ...
crowding
... Debt has a positive, but significant effect on the interest rate, but the Durbin-Watson statistic is very low -- this implies autocorrelation in the residuals After correction for autocorrelation, the coefficient estimate becomes negative and insignificant ...
... Debt has a positive, but significant effect on the interest rate, but the Durbin-Watson statistic is very low -- this implies autocorrelation in the residuals After correction for autocorrelation, the coefficient estimate becomes negative and insignificant ...
FASB Update Name of Event
... Effective Date: First annual period after Dec. 15, 2015, and interim periods within annual periods after Dec. 15, 2016. Early adoption for any annual period for which the annual financial statements have not yet been made available for issuance 1st annual & interim periods thereafter period ...
... Effective Date: First annual period after Dec. 15, 2015, and interim periods within annual periods after Dec. 15, 2016. Early adoption for any annual period for which the annual financial statements have not yet been made available for issuance 1st annual & interim periods thereafter period ...
Politics, Surpluses, Deficits, and Debt Chapter 12
... When the government runs a deficit, it might be spending on projects that increase its assets. If the assets are valued at more than their costs, then the deficit is making the society better off. ...
... When the government runs a deficit, it might be spending on projects that increase its assets. If the assets are valued at more than their costs, then the deficit is making the society better off. ...
Mauro Alessandro
... markets that sovereigns face after a default and analyze empirically its determinants. 3 We then present a DSGE model of endogenous sovereign borrowing that rationalizes our novel empirical findings on the political factors that influence market reaccess. In order to study the duration of the perio ...
... markets that sovereigns face after a default and analyze empirically its determinants. 3 We then present a DSGE model of endogenous sovereign borrowing that rationalizes our novel empirical findings on the political factors that influence market reaccess. In order to study the duration of the perio ...
Debt financing, soft budget constraints, and government
... as over 900 billion US dollars, more than in any other country, although the current official statistics show NPL as 133 billion.6 As NPLs are larger than net assets, some banks are technically insolvent. These bad loans are not a legacy of the planned economy, but have been accumulated during the r ...
... as over 900 billion US dollars, more than in any other country, although the current official statistics show NPL as 133 billion.6 As NPLs are larger than net assets, some banks are technically insolvent. These bad loans are not a legacy of the planned economy, but have been accumulated during the r ...
NBER WORKING PAPER SERIES THE ROLE OF COLLATERALIZED HOUSEHOLD DEBT
... Prior to the Great Depression, typical mortgage payments were only interest, and homeowners refinanced their loans’ principles every few years. Semer et. al. (1986) report that first mortgages had low loan-to-value ratios, but second and third mortgages with higher interest rates were common. For ot ...
... Prior to the Great Depression, typical mortgage payments were only interest, and homeowners refinanced their loans’ principles every few years. Semer et. al. (1986) report that first mortgages had low loan-to-value ratios, but second and third mortgages with higher interest rates were common. For ot ...
Bonds
... What is the price of two-year, 10% coupon bond (semi-annual coupon payments) with a face value of $1,000 and a required rate of ...
... What is the price of two-year, 10% coupon bond (semi-annual coupon payments) with a face value of $1,000 and a required rate of ...
Public debt in 2020: A sustainability analysis for DM
... i.e. we do not differentiate debt by holders (resident vs. nonresident), by currency denomination (domestic vs. foreign currency), by maturity (short, medium, long-term) and/or instruments (e.g. floating vs. fixed interest rate). It goes without saying that the factors listed above are all relevant ...
... i.e. we do not differentiate debt by holders (resident vs. nonresident), by currency denomination (domestic vs. foreign currency), by maturity (short, medium, long-term) and/or instruments (e.g. floating vs. fixed interest rate). It goes without saying that the factors listed above are all relevant ...
C. Ad hoc guarantees - WTO Documents Online
... amount of the guaranteed debt that would eventually be recovered, including the realistic recovery value of any collateral formally held by the government (assuming that the government became responsible for the debt once a default occurred). ...
... amount of the guaranteed debt that would eventually be recovered, including the realistic recovery value of any collateral formally held by the government (assuming that the government became responsible for the debt once a default occurred). ...
No.305 / November 2009 Emerging Markets Capital Structure and Financial Integration
... and the leverage of small firms does not appear to be significantly affected by stock market development. Using several measures of financial development, Rajan and Zingales (1998) find that a high level of financial market depth reduces the cost of external finance to firms and therefore facilitate ...
... and the leverage of small firms does not appear to be significantly affected by stock market development. Using several measures of financial development, Rajan and Zingales (1998) find that a high level of financial market depth reduces the cost of external finance to firms and therefore facilitate ...
Chapter 5 M F L
... accounted for more than 27 per cent of the revenue receipts. This figure rose sharply in 2008-09 to around 55 per cent and fell marginally to around 50 per cent in the current year. In comparison with revenue expenditure, on an average for the X Plan period, revenue deficit amounted to over 21 per c ...
... accounted for more than 27 per cent of the revenue receipts. This figure rose sharply in 2008-09 to around 55 per cent and fell marginally to around 50 per cent in the current year. In comparison with revenue expenditure, on an average for the X Plan period, revenue deficit amounted to over 21 per c ...
Financial Markets and the Financing Choice of Firms
... practice, however, the existence of significant flotation costs implies fluctuation of the debtequity ratios around their target level, over time. Clearly any empirical work needs to identify this target level and how it might change due to exogenous shocks. However, since the target level is unobs ...
... practice, however, the existence of significant flotation costs implies fluctuation of the debtequity ratios around their target level, over time. Clearly any empirical work needs to identify this target level and how it might change due to exogenous shocks. However, since the target level is unobs ...
Average Debt and Equity Returns: Puzzling?
... capital generating this income ow. (These data are available from the U.S. Bureau of Economic Analysis, 1929–2002.) Our construction uses the noncorporate sector because investment of corporate intangible capital is large but is not included in national income (see McGrattan and Prescott, 2002). T ...
... capital generating this income ow. (These data are available from the U.S. Bureau of Economic Analysis, 1929–2002.) Our construction uses the noncorporate sector because investment of corporate intangible capital is large but is not included in national income (see McGrattan and Prescott, 2002). T ...
NBER WORKING PAPER SERIES Marco Battaglini Stephen Coate
... political systems in which legislators have geographically-defined constituencies. In a well-known paper, Weingast, Shepsle and Johnsen (1981) argue that pork-barrel spending will lead to a government that is too large. They do not model the process of passing legislation, assuming instead that legi ...
... political systems in which legislators have geographically-defined constituencies. In a well-known paper, Weingast, Shepsle and Johnsen (1981) argue that pork-barrel spending will lead to a government that is too large. They do not model the process of passing legislation, assuming instead that legi ...
alba`s irony. urban autonomy and public finance in the
... early as the 13th century, followed by cities in Brabant and Holland during the 14th century. As often as not such loans were raised to finance urban expenditure on fortifications or other war costs, but they were also used to fund the extraordinary subsidies. That practice led to the dukes, constra ...
... early as the 13th century, followed by cities in Brabant and Holland during the 14th century. As often as not such loans were raised to finance urban expenditure on fortifications or other war costs, but they were also used to fund the extraordinary subsidies. That practice led to the dukes, constra ...
Moody`s Report - December 5, 2013
... sovereigns and a comparatively low debt burden against a small economy heavily dependent on two industries and a deterioration of the fiscal accounts in the wake of the global financial crisis. At $53,037 in 2012, Cayman's per capita GDP is a key support of the ratings. Higher economic development g ...
... sovereigns and a comparatively low debt burden against a small economy heavily dependent on two industries and a deterioration of the fiscal accounts in the wake of the global financial crisis. At $53,037 in 2012, Cayman's per capita GDP is a key support of the ratings. Higher economic development g ...
Banks` Sovereign Exposures and the Feedback Loop
... percentage points since 2007. Back-of-the-envelope calculations show that if Italian real GDP had since grown at a similar rate as in the previous ten years and the deflator had risen in line with the euro area’s inflation target, the debt to GDP ratio would now be just 3 points, and not 33 points, ...
... percentage points since 2007. Back-of-the-envelope calculations show that if Italian real GDP had since grown at a similar rate as in the previous ten years and the deflator had risen in line with the euro area’s inflation target, the debt to GDP ratio would now be just 3 points, and not 33 points, ...
Pakistan`s Debt Position and the Question of Debt Retirement
... been embezzled and misappropriated by different governments in the country. Quoting Mr. James Wolfensohn the President of IBRD, “to end poverty we must fight corruption. It is central to our mission. Corruption is a cancer in the body politic, a tax on the poor”. Pakistan’s ever increasing debt burd ...
... been embezzled and misappropriated by different governments in the country. Quoting Mr. James Wolfensohn the President of IBRD, “to end poverty we must fight corruption. It is central to our mission. Corruption is a cancer in the body politic, a tax on the poor”. Pakistan’s ever increasing debt burd ...
Q-Aslam - Lahore School of Economics
... has been embezzled and misappropriated by different governments in the country. Quoting Mr. James Wolfensohn the President of IBRD, “to end poverty we must fight corruption. It is central to our mission. Corruption is a cancer in the body politic, a tax on the poor”. Pakistan’s ever increasing debt ...
... has been embezzled and misappropriated by different governments in the country. Quoting Mr. James Wolfensohn the President of IBRD, “to end poverty we must fight corruption. It is central to our mission. Corruption is a cancer in the body politic, a tax on the poor”. Pakistan’s ever increasing debt ...
CEPR POLICY INSIGHT No . 51 - Centre for Economic Policy
... In fact, only a limited number of small industrial countries are in reasonable fiscal-financial shape. The origins of this widespread loss of fiscal control are shared by most countries and can be traced to pro-cyclical fiscal policy during the boom period preceding the financial crisis that started ...
... In fact, only a limited number of small industrial countries are in reasonable fiscal-financial shape. The origins of this widespread loss of fiscal control are shared by most countries and can be traced to pro-cyclical fiscal policy during the boom period preceding the financial crisis that started ...
Entrepreneurship and Public Policy
... – A reduction in the capital gains tax rate would in theory lower the required expected (pre-tax) rate of return on venture investments for taxable investors – However, since most VC investors after 1980 have been tax-exempt institutions, the supply effect may have been very small – Lower capital ta ...
... – A reduction in the capital gains tax rate would in theory lower the required expected (pre-tax) rate of return on venture investments for taxable investors – However, since most VC investors after 1980 have been tax-exempt institutions, the supply effect may have been very small – Lower capital ta ...
Public Debt
... 11,932 billion representing an increase of Rs. 1,012 billion, whereas, external debt posed at Rs. 5,004 billion representing a decrease of Rs. 72 billion as compared to end June 2014. The external debt declined despite net external inflows which is mainly attributed to huge translational gain of aro ...
... 11,932 billion representing an increase of Rs. 1,012 billion, whereas, external debt posed at Rs. 5,004 billion representing a decrease of Rs. 72 billion as compared to end June 2014. The external debt declined despite net external inflows which is mainly attributed to huge translational gain of aro ...
Financial Planning, PowerPoint Show
... secure additional financing. If AFN is negative, then you have more financing than is needed. Pay off debt. Buy back stock. ...
... secure additional financing. If AFN is negative, then you have more financing than is needed. Pay off debt. Buy back stock. ...
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.