Are there Spillover Effects From Munis?

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Publisher : International Monetary Fund
ISBN 13 : 146392724X
Total Pages : 19 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis Are there Spillover Effects From Munis? by : Mr.Rabah Arezki

Download or read book Are there Spillover Effects From Munis? written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2011-12-01 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the spillover effects both within the bond markets for individual U.S. states and between the latter and the market for U.S. Treasury securities. We perform the Forbes and Rigobon (2002) spillover test using daily bond yield data over the period 2005 to 2011. Results are twofold. First, we find that between most markets for individual U.S. state bonds there are negative spillovers. In other words, an increase in borrowing costs in one U.S. state results in better borrowing conditions for other states. Second, we find no substantial spillover effect between shocks originating from state securities and from federal markets, except for a few large issuers. Using causality tests in the frequency domain, we find that the Treasury bond market directly causes changes in the markets for municipal bonds in both the short and long run. There is also some evidence of causality from the municipal to the Treasury bond market, but only of a long-run nature. Our results shed some light on the policy debate on the nature of spillover effects within fiscal unions.

In a Bad State

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Publisher : Oxford University Press
ISBN 13 : 0197629156
Total Pages : 249 pages
Book Rating : 4.1/5 (976 download)

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Book Synopsis In a Bad State by : David Schleicher

Download or read book In a Bad State written by David Schleicher and published by Oxford University Press. This book was released on 2023-06 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative review of the long history of federal responses to state and local budget crises, from Alexander Hamilton through the COVID-19 pandemic, that reveals what is at stake when a state or city can't pay its debts and provides policy solutions to an intractable American problem. What should the federal government do if a state like Illinois or a city like Chicago can't pay its debts? From Alexander Hamilton's plan to assume state debts to Congress's efforts to respond to the COVID-19 pandemic, many of the most important political disputes in American history have involved federal government responses to state or local fiscal crises. In a Bad State provides the first comprehensive historical and theoretical analysis of how the federal government has addressed subnational debt crises. Tracing the long history of state and local borrowing, David Schleicher argues that federal officials want to achieve three things when a state or city nears default: prevent macroeconomic distress, encourage lending to states and cities to build infrastructure, and avoid creating incentives for reckless future state budgeting. But whether they demand state austerity, permit state defaults, or provide bailouts-and all have been tried-federal officials can only achieve two of these three goals, at best. Rather than imagining that there is a single easy federal solution, Schleicher suggests some ways the federal government could ameliorate the problem by conditioning federal aid on future state fiscal responsibility, spreading losses across governments and interests, and building resilience against crises into federal spending and tax policy. Authoritative and accessible, In a Bad State offers a guide to understanding the pressing fiscal problems that local, state, and federal officials face, and to the policy options they possess for responding to crises.

United States

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Publisher : International Monetary Fund
ISBN 13 : 1498396674
Total Pages : 113 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis United States by : International Monetary Fund. Western Hemisphere Dept.

Download or read book United States written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2014-07-23 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper on the United States of America examines the recent US labor force penetration rate (LFPR) dynamics. LFPR dynamics can be driven by structural factors and cyclical ones related to job prospects. With participation rates for older workers lower than for prime age workers, demographic models suggest that aging of the baby boom generation explains about 50 percent of the near 3p.p. LFPR decline during 2007–2013. State-level panel regression analysis is used to tie down the cyclical effect, which is estimated to account for about 30–40 percent of the decline. Significant remaining slack in the labor market points to an important role for macroeconomic and labor supply policies. This suggests a still important role for stimulative macroeconomic policies to help reach full employment. Macroeconomic policy should remain accommodative for a while given sizeable labor market slack. This slack goes beyond that signaled by the unemployment rate and takes account of the LFPR being below trend and many employees working part time ‘involuntarily’.

Modern Urban and Regional Economics

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Publisher : Oxford University Press, USA
ISBN 13 : 0199582009
Total Pages : 433 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis Modern Urban and Regional Economics by : Philip McCann

Download or read book Modern Urban and Regional Economics written by Philip McCann and published by Oxford University Press, USA. This book was released on 2013-01-31 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of this accessible text provides an integrated framework of the study of urban and regional economics. It offers a concise and up-to-date introduction to the main foundational models, principles, and theories of the subject, and uses a range of international examples to illustrate ideas.

IMF Research Bulletin, March 2012

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Publisher : International Monetary Fund
ISBN 13 : 1475502184
Total Pages : 18 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis IMF Research Bulletin, March 2012 by : International Monetary Fund. Research Dept.

Download or read book IMF Research Bulletin, March 2012 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2012-03-08 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The research summaries in the March 2012 issue of the IMF Research Bulletin are "Foreign Direct Investment and the Crisis: Is This Time Different?" (by Yuko Kinoshita) and "Food Prices and Inflation" (by James P. Walsh). The Q&A covers seven questions on "Unemployment through the Prism of the Great Recession" (by Prakash Loungani). This issue also launches a new feature "Conversations with Visiting Scholars" with an interview with Tom Sargent, winner of the 2011 Nobel Prize in Economic Sciences. Also included in this issue are details on visiting scholars at the IMF, a listing of recently published IMF Working Papers, and information on the next issue of "IMF Economic Review."

The Bonds of Inequality

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Author :
Publisher : University of Chicago Press
ISBN 13 : 022672168X
Total Pages : 318 pages
Book Rating : 4.2/5 (267 download)

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Book Synopsis The Bonds of Inequality by : Destin Jenkins

Download or read book The Bonds of Inequality written by Destin Jenkins and published by University of Chicago Press. This book was released on 2021-04-29 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indebtedness, like inequality, has become a ubiquitous condition in the United States. Yet few have probed American cities’ dependence on municipal debt or how the terms of municipal finance structure racial privileges, entrench spatial neglect, elide democratic input, and distribute wealth and power. In this passionate and deeply researched book, Destin Jenkins shows in vivid detail how, beyond the borrowing decisions of American cities and beneath their quotidian infrastructure, there lurks a world of politics and finance that is rarely seen, let alone understood. Focusing on San Francisco, The Bonds of Inequality offers a singular view of the postwar city, one where the dynamics that drove its creation encompassed not only local politicians but also banks, credit rating firms, insurance companies, and the national municipal bond market. Moving between the local and the national, The Bonds of Inequality uncovers how racial inequalities in San Francisco were intrinsically tied to municipal finance arrangements and how these arrangements were central in determining the distribution of resources in the city. By homing in on financing and its imperatives, Jenkins boldly rewrites the history of modern American cities, revealing the hidden strings that bind debt and power, race and inequity, democracy and capitalism.

Estimating and Interpreting Forward Interest Rates

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Publisher : International Monetary Fund
ISBN 13 : 1451853750
Total Pages : 76 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Estimating and Interpreting Forward Interest Rates by : Mr.Lars E. O. Svensson

Download or read book Estimating and Interpreting Forward Interest Rates written by Mr.Lars E. O. Svensson and published by International Monetary Fund. This book was released on 1994-09-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of forward interest rates as a monetary policy indicator is demonstrated, using Sweden 1992-1994 as an example. The forward rates are interpreted as indicating market expectations of the time-path of future interest rates, future inflation rates, and future currency depreciation rates. They separate market expectations for the short-, medium-, and long-term more easily than the standard yield curve. Forward rates are estimated with an extended and more flexible version of Nelson and Siegel’s functional form.

Artificial Intelligence Perspective for Smart Cities

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Publisher : CRC Press
ISBN 13 : 1000784630
Total Pages : 269 pages
Book Rating : 4.0/5 (7 download)

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Book Synopsis Artificial Intelligence Perspective for Smart Cities by : Vahap Tecim

Download or read book Artificial Intelligence Perspective for Smart Cities written by Vahap Tecim and published by CRC Press. This book was released on 2022-11-23 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of a "smart city" is used widely in general; however, it is hard to explain because of the complexity and multidimensionality of this notion. However, the essential qualification for being a smart city is to achieve "sustainable social, environmental, and economic development" and boost the living standards of society based on Information and Communication Technology (ICT) and Artificial intelligence (AI). AI in smart cities has become an important aspect for cities that face great challenges to make smart decisions for social well-being, particularly cybersecurity and corporate sustainability. In this context, we aim to contribute literature with a value-added approach where various AI applications of smart cities are discussed from a different perspective. First, we start by discussing the conceptual design, modeling, and determination of components for the sustainability of a smart city structure. Since smart cities operate on spatial-based data, it is important to design, operate, and manage smart city elements using Geographical Information Systems (GIS) technologies. Second, we define the structure, type, unit, and functionality of the layers to be placed on the GIS to achieve best practices based on Industry 4.0 components. Transportation is one of the key indicators of smart cities, so it is critical to make transportation in smart cities accessible for different disabled groups by using AI technologies. Third, we demonstrate what kinds of technologies should be used for which disabled groups in different transportation vehicles with specific examples. Finally, we create a discussion platform for processes and sub-processes such as waste management, emergency management, risk management, and data management for establishing smart cities including the financial and ethical aspects.

Government Policies and the Delayed Economic Recovery

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Publisher : Hoover Press
ISBN 13 : 0817915362
Total Pages : 263 pages
Book Rating : 4.8/5 (179 download)

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Book Synopsis Government Policies and the Delayed Economic Recovery by : Lee E. Ohanian

Download or read book Government Policies and the Delayed Economic Recovery written by Lee E. Ohanian and published by Hoover Press. This book was released on 2013-09-01 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the reasons for the unprecedented weak recovery following the recent US recession and explores the possibility that government economic policy is the problem. Drawing on empirical research that looks at issues from policy uncertainty to increased regulation, the volume offers a broad-based assessment of how government policies are slowing economic growth and provides a framework for understanding how those policies should change to restore prosperity in America.

Coronavirus Disease (COVID- 19): The Impact on Psychology of Sustainability, Sustainable Development, and Global Economy

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Author :
Publisher : Frontiers Media SA
ISBN 13 : 2889745872
Total Pages : 258 pages
Book Rating : 4.8/5 (897 download)

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Book Synopsis Coronavirus Disease (COVID- 19): The Impact on Psychology of Sustainability, Sustainable Development, and Global Economy by : Muddassar Sarfraz

Download or read book Coronavirus Disease (COVID- 19): The Impact on Psychology of Sustainability, Sustainable Development, and Global Economy written by Muddassar Sarfraz and published by Frontiers Media SA. This book was released on 2022-02-28 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Fiscal Politics

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Publisher : International Monetary Fund
ISBN 13 : 1475547900
Total Pages : 548 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Fiscal Politics by : Vitor Gaspar

Download or read book Fiscal Politics written by Vitor Gaspar and published by International Monetary Fund. This book was released on 2017-04-07 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.

Until Debt Do Us Part

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Publisher : World Bank Publications
ISBN 13 : 0821397672
Total Pages : 654 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Until Debt Do Us Part by : Otaviano Canuto

Download or read book Until Debt Do Us Part written by Otaviano Canuto and published by World Bank Publications. This book was released on 2013-02-13 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: With decentralization and urbanization, the debts of state and local governments and of quasi-public agencies have grown in importance. Rapid urbanization in developing countries requires large-scale infrastructure financing to help absorb influxes of rural populations. Borrowing enables state and local governments to capture the benefits of major capital investments immediately and to finance infrastructure more equitably across multiple generations of service users. With debt comes the risk of insolvency. Subnational debt crises have reoccurred in both developed and developing countries. Restructuring debt and ensuring its sustainability confront moral hazard and fiscal incentives in a multilevel government system; individual subnational governments might free-ride common resources, and public officials at all levels might shift the cost of excessive borrowing to future generations. This book brings together the reform experiences of emerging economies and developed countries. Written by leading practitioners and experts in public finance in the context of multilevel government systems, the book examines the interaction of markets, regulators, subnational borrowers, creditors, national governments, taxpayers, ex-ante rules, and ex-post insolvency systems in the quest for subnational fiscal discipline. Such a quest is intertwined with a country s historical, political, and economic context. The formal legal framework interacts with political reality to influence the dynamics of and incentives for reform. Often, the resolution of a subnational debt crisis unfolds in the context of macroeconomic stabilization and structural reforms. The book includes reforms that have not been covered by previous literature, such as those of China, Colombia, France, Hungary, Mexico, and South Africa. The book also presents a comprehensive review of how the United States developed its debt market for state and local governments, through a series of reforms that are path dependent, including the reforms and lessons learned following state defaults in the 1840s and the debates that shaped the enactment of Chapter 9 of the Bankruptcy Code in 1937. Looking forward, pressures on subnational finance are likely to continue from the fragility of global recovery, the potentially higher cost of capital, refinancing risks, and sovereign risks. This book is essential reading for anyone wanting to know the challenges and reform options in debt restructuring, insolvency frameworks, and public debt market development.

Plant Growth-Promoting Microbes for Sustainable Biotic and Abiotic Stress Management

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Author :
Publisher : Springer Nature
ISBN 13 : 3030665879
Total Pages : 672 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis Plant Growth-Promoting Microbes for Sustainable Biotic and Abiotic Stress Management by : Heba I. Mohamed

Download or read book Plant Growth-Promoting Microbes for Sustainable Biotic and Abiotic Stress Management written by Heba I. Mohamed and published by Springer Nature. This book was released on 2021-05-02 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abiotic and biotic stress factors, including drought, salinity, waterlog, temperature extremes, mineral nutrients, heavy metals, plant diseases, nematodes, viruses, and diseases, adversely affect growth as well as yield of crop plants worldwide. Plant growth-promoting microorganisms (PGPM) are receiving increasing attention from agronomists and environmentalists as candidates to develop an effective, eco-friendly, and sustainable alternative to conventional agricultural (e.g., chemical fertilizers and pesticide) and remediation (e.g., chelators-enhanced phytoremediation) methods employed to deal with climate change-induced stresses. Recent studies have shown that plant growth-promoting bacteria (PGPB), rhizobia, arbuscular mycorrhizal fungi (AMF), cyanobacteria have great potentials in the management of various agricultural and environmental problems. This book provides current research of biofertilizers and the role of microorganisms in plant health, with specific emphasis on the mitigating strategies to combat plant stresses.

Biological Control of Insect and Mite Pests in Iran

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Author :
Publisher : Springer Nature
ISBN 13 : 3030639908
Total Pages : 621 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis Biological Control of Insect and Mite Pests in Iran by : Javad Karimi

Download or read book Biological Control of Insect and Mite Pests in Iran written by Javad Karimi and published by Springer Nature. This book was released on 2021-04-28 with total page 621 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a reference to biological control of arthropod pests in agriculture and of public health importance in Iran. A quick glance over the literature shows a long history of biocontrol attempts in the country. Some historically important events highlighting the interest of Iranian academic, research and extension fields to the natural enemies and their applied aspects are provided. Iran, with an exception of the former USSR, was a pioneer in both basic and applied biocontrol in West Asia. The book consists of four parts: three parts for predators, parasitoids and pathogens, and last part for other approaches and analyses of the current state of biological control in Iran. The book provides the most up-to-date information on pest control and related topics of entomology in Iran. The chapters are written by scholars from major Universities and research centers in Iran.

Market Liquidity

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Publisher : Oxford University Press
ISBN 13 : 0197542069
Total Pages : 531 pages
Book Rating : 4.1/5 (975 download)

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Book Synopsis Market Liquidity by : Thierry Foucault

Download or read book Market Liquidity written by Thierry Foucault and published by Oxford University Press. This book was released on 2023 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The process by which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. This book offers a more accurate and authoritative take on this process. The book starts from the assumption that not everyone is present at all times simultaneously on the market, and that participants have quite diverse information about the security's fundamentals. As a result, the order flow is a complex mix of information and noise, and a consensus price only emerges gradually over time as the trading process evolves and the participants interpret the actions of other traders. Thus, a security's actual transaction price may deviate from its fundamental value, as it would be assessed by a fully informed set of investors. The book takes these deviations seriously, and explains why and how they emerge in the trading process and are eventually eliminated. The authors draw on a vast body of theoretical insights and empirical findings on security price formation that have come to form a well-defined field within financial economics known as "market microstructure." Focusing on liquidity and price discovery, the book analyzes the tension between the two, pointing out that when price-relevant information reaches the market through trading pressure rather than through a public announcement, liquidity may suffer. It also confronts many striking phenomena in securities markets and uses the analytical tools and empirical methods of market microstructure to understand them. These include issues such as why liquidity changes over time and differs across securities, why large trades move prices up or down, and why these price changes are subsequently reversed, and why we observe temporary deviations from asset fair values"--

Phytoremediation Potential of Bioenergy Plants

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Author :
Publisher : Springer
ISBN 13 : 9811030847
Total Pages : 482 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis Phytoremediation Potential of Bioenergy Plants by : Kuldeep Bauddh

Download or read book Phytoremediation Potential of Bioenergy Plants written by Kuldeep Bauddh and published by Springer. This book was released on 2017-03-29 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: The globally escalating population necessitates production of more goods and services to fulfil the expanding demands of human beings which resulted in urbanization and industrialization. Uncontrolled industrialization caused two major problems – energy crisis and accelerated environmental pollution throughout the world. Presently, there are technologies which have been proposed or shown to tackle both the problems. Researchers continue to seek more cost effective and environmentally beneficial pathways for problem solving. Plant kingdom comprises of species which have the potential to resolve the couple problem of pollution and energy. Plants are considered as a potential feedstock for development of renewable energy through biofuels. Another important aspect of plants is their capacity to sequester carbon dioxide and absorb, degrade, and stabilize environmental pollutants such as heavy metals, poly-aromatic hydrocarbons, poly-aromatic biphenyls, radioactive materials, and other chemicals. Thus, plants may be used to provide renewable energy generation and pollution mitigation. An approach that could amalgamate the two aspects can be achieved through phytoremediation (using plants to clean up polluted soil and water), and subsequent generation of energy from the phyto-remediator plants. This would be a major advance in achieving sustainability that focuses on optimizing ‘people’ (social issues), ‘planet’ (environmental issues), and ‘profit’ (financial issues). The “Phytoremediation-Cellulosic Biofuels” (PCB) process will be socially beneficial through reducing pollution impacts on people, ecologically beneficial through pollution abatement, and economically viable through providing revenue that supplies an energy source that is renewable and also provides less dependence on importing foreign energy (energy-independence). The utilization of green plants for pollution remediation and energy production will also tackle some other important global concerns like global climate change, ocean acidification, and land degradation through carbon sequestration, reduced emissions of other greenhouse gases, restoration of degraded lands and waters, and more. This book addresses the overall potential of major plants that have the potential to fulfil the dual purposes of phytoremediation and energy generation. The non-edible bioenergy plants that are explored for this dual objective include Jatropha curcas, Ricinus communis, Leucaena leucocephalla, Milletia pinnata, Canabis sativa, Azadirachta indica, and Acacia nilotica. The book addresses all possible aspects of phyto-remediaton and energy generation in a holistic way. The contributors are one of most authoritative experts in the field and have covered and compiled the best content most comprehensively. The book is going to be extremely useful for researchers in the area, research students, academicians and also for policy makers for an inclusive understanding and assessment of potential in plant kingdom to solve the dual problem of energy and pollution.

Missionary Tropics

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Author :
Publisher : University of Michigan Press
ISBN 13 : 9780472114900
Total Pages : 410 pages
Book Rating : 4.1/5 (149 download)

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Book Synopsis Missionary Tropics by : Ines G. Županov

Download or read book Missionary Tropics written by Ines G. Županov and published by University of Michigan Press. This book was released on 2005 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: A provocative contribution to the history of early modern Euro-Asian interactions that provides new perspectives on the encounter between Catholicism and Hinduism in India