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The Overhang Hangover
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Book Synopsis The Overhang Hangover by : Jean Imbs
Download or read book The Overhang Hangover written by Jean Imbs and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors revisit the debt overhang question. They first use nonparametric techniques to isolate a panel of countries on the downward sloping section of a debt Laffer Curve. In particular, overhang countries are ones where a threshold level of debt is reached in sample, beyond which (initial) debt ends up lowering (subsequent) growth. On average, significantly negative coefficients appear when debt face value reaches 60 percent of GDP or 200 percent of exports, and when its present value reaches 40 percent of GDP or 140 percent of exports. Second, the authors depart from reduced form growth regressions and perform direct tests of the theory on the thus selected sample of overhang countries. In the spirit of event studies, they ask whether, as the overhang level of debt is reached: (1) investment falls precipitously as it should when it becomes optimal to default; (2) economic policy deteriorates observably, as it should when debt contracts become unable to elicit effort on the part of the debtor; and (3) the terms of borrowing worsen noticeably, as they should when it becomes optimal for creditors to preempt default and exact punitive interest rates. The authors find a systematic response of investment, particularly when property rights are weakly enforced, some worsening of the policy environment, and a fall in interest rates. This easing of borrowing conditions happens because lending by the private sector virtually disappears in overhang situations, and multilateral agencies step in with concessional rates. Thus, while debt relief is likely to improve economic policy (and especially investment) in overhang countries, it is doubtful that it would ease their terms of borrowing or the burden of debt.
Book Synopsis The overhang hangover by : Jean Imbs
Download or read book The overhang hangover written by Jean Imbs and published by World Bank Publications. This book was released on 2005 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors revisit the debt overhang question. They first use nonparametric techniques to isolate a panel of countries on the downward sloping section of a debt Laffer Curve. In particular, overhang countries are ones where a threshold level of debt is reached in sample, beyond which (initial) debt ends up lowering (subsequent) growth. On average, significantly negative coefficients appear when debt face value reaches 60 percent of GDP or 200 percent of exports, and when its present value reaches 40 percent of GDP or 140 percent of exports. Second, the authors depart from reduced form growth regressions and perform direct tests of the theory on the thus selected sample of overhang countries. In the spirit of event studies, they ask whether, as the overhang level of debt is reached: (1) investment falls precipitously as it should when it becomes optimal to default; (2) economic policy deteriorates observably, as it should when debt contracts become unable to elicit effort on the part of the debtor; and (3) the terms of borrowing worsen noticeably, as they should when it becomes optimal for creditors to preempt default and exact punitive interest rates. The authors find a systematic response of investment, particularly when property rights are weakly enforced, some worsening of the policy environment, and a fall in interest rates. This easing of borrowing conditions happens because lending by the private sector virtually disappears in overhang situations, and multilateral agencies step in with concessional rates. Thus, while debt relief is likely to improve economic policy (and especially investment) in overhang countries, it is doubtful that it would ease their terms of borrowing or the burden of debt. "--World Bank web site.
Download or read book Hangover Cure written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis This Time They Are Different by : Mr.Markus Eberhardt
Download or read book This Time They Are Different written by Mr.Markus Eberhardt and published by International Monetary Fund. This book was released on 2013-12-17 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the long-run relationship between public debt and growth in a large panel of countries. Our analysis takes particular note of theoretical arguments and data considerations in modeling the debt-growth relationship as heterogeneous across countries. We investigate the issue of nonlinearities (debt thresholds) in both the cross-country and within-country dimensions, employing novel methods and diagnostics from the time-series literature adapted for use in the panel. We find some support for a nonlinear relationship between debt and long-run growth across countries, but no evidence for common debt thresholds within countries over time.
Book Synopsis Propose To Me, A Romance Anthology by : Charmaine Pauls
Download or read book Propose To Me, A Romance Anthology written by Charmaine Pauls and published by Lulu.com. This book was released on 2015-06-19 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: including the following stories:Artificial Tears by Charmaine Pauls, Cappuccino Dreaming by Louise Redmann, Proposal Unexpected by Elena Kane, Running Late by Caroline Andrus, The Spark by Ellyse Roberts
Book Synopsis The Financial Crisis of 2008 by : Barrie A. Wigmore
Download or read book The Financial Crisis of 2008 written by Barrie A. Wigmore and published by Cambridge University Press. This book was released on 2021-11-04 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supported by ten years of research, Wigmore has gathered extensive data covering the 2008 financial crisis and subsequent recovery to provide the first comprehensive history of the period. Financial crises cannot occur unless institutional investors finance the bubbles that created them. Wigmore follows the trail of data putting pressure on institutional investors to achieve higher levels of returns that led to over-leverage throughout the financial system and placed such a burden on recovery. Here is a 'very good picture - and painful reminder - of the crisis' evolution across multiple asset classes, structures, participants, and geographies.' This work serves as a critical analysis of modern portfolio management and an important reference work for financial professionals, academics, investors, and students.
Book Synopsis Rock Climbing Washington by : Jeff Smoot
Download or read book Rock Climbing Washington written by Jeff Smoot and published by Rowman & Littlefield. This book was released on 2019-05-01 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: This updated edition of Rock Climbing Washington features more than 1,500 routes throughout the state of Washington. Explore the granite cliffs of Index, Leavenworth, Darrington, and Tieton River Canyon; tackle the exposed alpine routes on the spires at Washington Pass; or hang from steep sport climbs at North Bend, Frenchman Coulee, and Marcus and China Bend near Spokane.
Book Synopsis Debt Relief and Beyond by : Carlos A. Primo Braga
Download or read book Debt Relief and Beyond written by Carlos A. Primo Braga and published by World Bank Publications. This book was released on 2009-10-02 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: The history of debt relief goes back several decades. It reveals that a country s accumulation of unsustainable debt stems from such factors as deficiencies in macroeconomic management, adverse terms-of-trade shocks, and poor governance. Debt-relief initiatives have provided debt-burdened countries with the opportunity for a fresh start, but whether the benefits of debt relief can be preserved depends on transformations in a country s policies and institutions. In 1996, the Heavily Indebted Poor Countries (HIPC) Initiative was launched as the first comprehensive, multilateral, debt-relief framework for low-income countries. In 2005, the Multilateral Debt Relief Initiative was established, which increased the level of debt relief provided to HIPCs. As of early 2009, assistance through these two initiatives had been committed to 35 countries and amounted to US$117 billion in nominal terms, or half of the 2007 GDP of these countries. 'Debt Relief and Beyond' assesses the implications of debt relief for low-income countries and how its benefits can be preserved and used to fight poverty. The chapter authors bring unique operational experience to their examination of debt relief, debt sustainability, and debt management. Several key questions are addressed, including, what consequences does debt relief have for poverty-reducing expenditures, growth, and access to finance? Can debt relief guarantee debt sustainability? How can debt management at all levels of government be improved? What lessons can be learned from countries that have experienced debt restructuring? Finally, this book provides sound empirical evidence using current econometric techniques.
Download or read book IMF Staff Papers written by and published by . This book was released on 2010 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Autumn's Dying written by Gavin Cathcart and published by Lulu.com. This book was released on 2018-10-08 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Immortality can be a tough row to hoe, particularly when you have to continually kill folks to keep on going. Since being slain by a female vampire in the autumn of 1944, Luke Bennek has stuck to the shadows, carving out a gritty existence in the decaying sections of America's cities. To avoid detection, he feeds only when necessary, taking those that will be little missed. For over seven decades it'd been going fairly well, but time catches up with everyone. In a rapidly changing world, Luke is finding it harder and harder to stay under the radar, and now someone has discovered what he is. When the predator becomes the prey, all bets are off, and something's gotta give.
Book Synopsis Data Structure Practice by : Yonghui Wu
Download or read book Data Structure Practice written by Yonghui Wu and published by CRC Press. This book was released on 2016-02-22 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining knowledge with strategies, Data Structure Practice for Collegiate Programming Contests and Education presents the first comprehensive book on data structure in programming contests. This book is designed for training collegiate programming contest teams in the nuances of data structure and for helping college students in computer-related
Book Synopsis Who's Who When Everyone is Someone Else by : C. D. Rose
Download or read book Who's Who When Everyone is Someone Else written by C. D. Rose and published by Melville House. This book was released on 2018-04-10 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: A hilariously charming novel about a heartbroken man trying to redeem himself by championing forgotten books Fleeing heartbreak, an unnamed author goes to an unnamed city to give a series of lectures at an unnamed university about forgotten books ... only to find himself involved in a mystery when the professor who invited him is no where to be found, and no one seems quite sure why he's there.... So begins this Wes Anderson-like novel hilariously spoofing modernist literature even as it tells a stirring -- and eerily suspenseful -- story about someone desperate to prove the redeeming power of reading -- and writing -- books. And as the narrator gives his lectures, attends vague functions where no one speaks English, never quite meets his host professor and wonders the city looking for the grave of his literary hero, the reader begins to suspect this man's relentless faith in literature may be the only thing getting him through the mystery enveloping him.
Book Synopsis Compounds and Compounding by : Laurie Bauer
Download or read book Compounds and Compounding written by Laurie Bauer and published by Cambridge University Press. This book was released on 2017-10-12 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are compounds words or phrases - or are they neither or both? How should we classify compounds? How can we deal with the fact that the relationship between the elements of sugar pill ('pill made of sugar') is different from that in sea-sickness pill ('pill to prevent sea-sickness')? Are compounds a linguistic universal? How much do languages vary in the way their compounds work? Why do we need compounds, when there are other ways of creating the same meanings? Are so-called neoclassical compounds like photograph really compounds? Based on more than forty years' research, this controversial new book sets out to answer these and many other questions.
Download or read book Rousseau's Ghost written by Terence Ball and published by State University of New York Press. This book was released on 1999-09-02 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: A long-missing manuscript from a famous eighteenth-century philosopher with a dark secret, the late twentieth-century murder in Paris of a prominent Princeton professor—and the connection between the two—form the core of this fast-paced mystery novel. Set primarily in Paris and Oxford, Rousseau's Ghost weaves a riveting tale of scholarly intrigue and murder. An urgent but cryptic request from Professor Ted Porter summons his old friend and former Rhodes Scholar Jack Davis to Paris. Once there Jack finds his friend dead, apparently electrocuted by a faulty laptop computer. The Parisian police rule the death an accident and close the case. But Jack well knew his friend's deep aversion to modern technology, and to computers in particular, and believes the computer was not Ted's and his death no accident. Unable to convince the police, Jack begins his own investigation, aided by Danielle, a beautiful young French woman who claims to have been Ted's research assistant and sometime lover. Sifting through Ted's notes and an unfinished manuscript titled Rousseau's Ghost, he finds a mysterious entry: "Inst Pol??!!" Not knowing what this might mean, he travels to Oxford to see his old tutor, who surmises that Ted's shorthand query refers to the Institutions Politiques, a manuscript on which Rousseau worked in the 1750s but later abandoned and burned, except for the small section we now know as the Social Contract. Could the rest of the manuscript have survived? Could Ted have found it? If so, was he murdered for his discovery? Could Jack and Danielle be next?
Book Synopsis Angel Hunts by : Leslie Claire Waker
Download or read book Angel Hunts written by Leslie Claire Waker and published by Secret Fire Press. This book was released on 2016-04-23 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens when a cold-blooded magical assassin finds her heart? To protect her found family, Night Sanchez must battle the forces of Heaven and Hell. When the Order of Assassins she betrayed tracks her down, Night braces for battle. She never expects a threat more dangerous than the Order to strike... Then the Angel of Death comes to town. To stop him, she must face her blood-drenched past. Can Night unlock the secrets of her magic before the Angel destroys everyone she loves? Start reading this suspense-filled series for free today! Soul Forge Books (Series Complete) Angel Hunts Angel Rises Angel Falls Angel Strikes Angel Roars Angel Burns Related Books The Faery Chronicles - Complete YA Urban Fantasy Trilogy Faery Novice Faery Prophet Faery Sovereign
Book Synopsis A Climber's Guide to the Teton Range by : Leigh N. Ortenburger
Download or read book A Climber's Guide to the Teton Range written by Leigh N. Ortenburger and published by The Mountaineers Books. This book was released on 1996 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: * Approximately 800 climbing routes in the Tetons and more than 200 peaks * 90 climbing route topos in this Wyoming climbing guidebook For many years, A Climber's Guide to the Teton Range has been the first choice for climbers of all levels of experience looking for comprehensive information on this popular Wyoming climbing destination. You'll find complete route descriptions with difficulty ratings, as well as detailed information on access, approach considerations, and region-specific safety measures. The Tetons climbing history, geology and climate are also detailed, along with hiking routes, equipment recommendations, and more. Everything you need to know about the Teton Range is available in this one source -- it's a must-have for all mountaineers.
Book Synopsis Debt and Development in Small Island Developing States by : D. King
Download or read book Debt and Development in Small Island Developing States written by D. King and published by Springer. This book was released on 2014-12-17 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debt and Development in Small Island Developing States draws on the expertise of established researchers and public officials from within the SIDS community to answer the following pressing questions related to sustainability, debt accumulation, and prospects for future growth.
