Search results for " debt"
showing 10 items of 158 documents
The impact of international influence on microbanks’ performance: A global survey
2011
NOTICE: this is the author’s version of a work that was accepted for publication in International Business Review. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in International Business Review, 20(2), 163-176. http://dx.doi.org/10.1016/j.ibusrev.2010.07.006 Microbanks serve micro-enterprises and poor people with financial services. This study examines how various aspects of international influence affect microbanks' financi…
Commento agli articoli 543-566, in Codice di procedura civile ragionato.
2017
Il lavoro consiste in un commento a tutte le disposizioni del codice di procedura civile in materia di espropriazione presso terzi, con richiami alle principali leggi speciali, e in un commento alle norme del codice di procedura civile sul pignoramento immobiliare e sull'intervento dei creditori nella espropriazione immobiliare The essay is a commentary on civile procedure rules concernig enforcement of civil obbligation, with reference to the seizure of debtors's credit towards other people (e.g. attaching of erarnings) and with respect to the seizure of real estate.
Investigating the causal mechanisms underlying the customization of software development methods
2017
Over the last four decades, software development has been one of the mainstream topics in the Software Engineering and Information Systems disciplines. Thousands of methods have been put forward offering prescriptions for software development processes. The goal of these methods is to produce high-quality software in a systematic manner. However, it is widely known that these methods are rarely followed as prescribed – developers often modify or skip different steps, practices, or quality rules recommended by software development methods. While a group of previous studies suggests that maximizing the flexibility and leanness of software development processes is the key driver of such custom…
Keeping Public Debt Sustainable in an Equitable Way
2022
The COVID-19 pandemic has claimed over 5 million lives thus far. This grim figure would have been higher still without the strong and timely fiscal support provided by governments around the globe, including support for health sector and the development and deployment of vaccines. The IMF has noted that “in 2020, fiscal policy proved its worth. The increasing public debt in 2020 was fully justified by the need to respond to COVID 19 and its economic, social, and financial consequences” (Gaspar, 2021). How to keep debt sustainable is becoming a policy imperative, made all the more challenging by the lingering effects of the pandemic, particularly on low-income groups. In this article we summ…
Testing for public debt sustainability using band spectrum regression analysis "
2014
In this note we focus on the response of the primary surplus to debt (ratios to GDP)over a low frequency band (associated with cycles with period between eight and sixteen years) to filter out business cycle effects. For this purpose, we use band spectrum regression, using both the Fourier Transform and the Discrete Wavelet transform, fitted to pooled panel dataset of 18 EMU countries. The empirical findings give evidence of fiscal fatigue within Eurozone:the response of primary surplus to debt will decrease over a finite debt limit.
Political determinants of the fiscal sustainability: evidence from six individual developed countries.
2007
This paper aims at assessing the fiscal sustainability and its political determinants in six countries, namely France, Germany, Greece, Italy, the United Kingdom, the United States. First, using the recent sustainability approach of Bohn (1998) based on fiscal reaction function, econometric findings using OLS reveal a positive response of the primary surplus to changes in debt in several countries. In other words, fiscal policy is sustainable in France, Italy, the United Kingdom, the United States, but not in Germany and Greece. Second, by introducing political dummy variables, we test the electoral budget cycle, the partisan cycle and the government coalition theories. We find the presence…
Endeudamiento municipal en la región de Lleida a finales del siglo XVII
2018
Este articulo quiere analizar la evolución del endeudamiento de los municipios de la región económica de Lleida a finales del siglo XVII para poner de relieve no solo el enorme peso que este tuvo sobre los municipios catalanes de los siglos modernos, sino también el efecto que causó la expansión económica de los años previos a la guerra de Sucesión sobre esta deuda. Durante los años estudiados hemos podido observar una mejora evidente sobre el nivel de endeudamiento comunal, pero también la persistencia de problemas crónicos en las finanzas municipales. In this paper is analyzed the municipal debt evolution of the Lleida region during the late seventeenth century. It highlights the importan…
The Power of Fiction in Creating a Territory’s Image
2021
The current economic crisis, and its effects on the European sovereign debt, has resulted in a significant reduction in Italian investments in the field of preservation and enhancement of cultural heritage. In fragile contexts, such as Sicily, the contraction of investments has put further into crisis the already weak manage- ment and planning system. Despite this scenario of crisis, in South-Eastern Sicily, the province of Ragusa shows a significant resilience to the crisis also due to the “Mon- talbano effect” and the capability to rethink the traditional heritage policies (Maga- zzino and Mantovani 2012). The paper, based on the analysis of the South-Eastern Sicily case study, reflects o…
Risk Management Optimization for Sovereign Debt Restructuring
2015
Abstract Debt restructuring is one of the policy tools available for resolving sovereign debt crises and, while unorthodox, it is not uncommon. We propose a scenario analysis for debt sustainability and integrate it with scenario optimization for risk management in restructuring sovereign debt. The scenario dynamics of debt-to-GDP ratio are used to define a tail risk measure, termed conditional Debt-at-Risk. A multi-period stochastic programming model minimizes the expected cost of debt financing subject to risk limits. It provides an operational model to handle significant aspects of debt restructuring: it collects all debt issues in a common framework, and can include contingent claims, m…
Stochastic debt sustainability analysis for sovereigns and the scope for optimization modeling
2017
We express the opinion that sovereign debt sustainability analysis must be augmented by stochastic correlated risk factors and a risk measure to capture tail effects. Crisis situations can thus be adequately specified and analyzed with sufficient accuracy to warrant the relevance of policy decisions. In this context there is significant scope for optimization modeling for both strategic planning and operational management. We discuss diverse aspects of the problem of debt sustainability and highlight modeling approaches that can be brought to bear on the problem. Results with the fictitiuous, but nor unrealistic, Kingdom of Atlantis, which is sinking under excessive debt, illustrate the pro…