Search results for "overhang"

showing 3 items of 3 documents

Structural reforms in a debt overhang

2014

We assess the effects of reforms in product and labor markets in a model economy featuring credit restrictions and pre-existing long-term debt. Both elements, which are core features of the current scenario faced by some euro area countries, combine to produce a slow and protracted deleveraging of the private sector and a persistent recession following a negative financial shock. In this environment, we show that product and labor market reforms may stimulate output and employment even in the short run, despite their defl ationary effects. Furthermore, by favoring a faster recovery of investment and collateral values, product market reforms bring forward the end of deleveraging and the exit…

MacroeconomicsEconomics and EconometricsProduct marketCollateralmedia_common.quotation_subjecteducationjel:E43jel:E65jel:E44Monetary economicsRecessionjel:G21deleveraging collateral constraints long-run debt structural reformsDebt0502 economics and businessEconomics050207 economicshealth care economics and organizations050205 econometrics media_commonShort run05 social sciencesInvestment (macroeconomics)Debt overhangShock (economics)DeleveragingFinanceJournal of Monetary Economics
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Sizing analysis of interior lighting using tubular daylighting devices

2017

Abstract Daylight access and indoor thermal comfort are key issues for high design level of sustainable buildings. In fact, daylight provides energy savings and visual comfort condition that can foster higher productivity and performance. This paper proposes a case study of sizing of daylight devices for zenith light. It enables the decision-making process of the designer to reach high levels of daylight factor. The proposed method is shown with an example of application. For the case study, a room in south of Italy, 24 different solar tunnels configurations and 12 cases with different number of skylights have been evaluated.

EngineeringArchitectural engineeringnatural lightreflectance020209 energy0211 other engineering and technologies02 engineering and technologyKey issuesinternal comfortoverhangrooflightdaylight systemtransmittancedaylight factorenergy consumption021105 building & construction0202 electrical engineering electronic engineering information engineeringDaylightDaylightingZenithSettore ING-IND/11 - Fisica Tecnica Ambientalebusiness.industrydaylightingsolar tunnelThermal comfortSizingskylightDaylight factorEnergy (all)Daylight systemilluminancebusinessDaylightingenergy
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Fiscal sustainability in EMU countries: A continued fiscal commitment?

2017

Abstract The aim of this paper is to study the sustainability of public finances in the Eurozone particularly after the 2007 financial crisis. This paper goes beyond the standard analysis of the univariate properties of the fiscal variables through the estimation of a time-varying fiscal reaction function on a 11-country panel for a period spanning from 1970 to 2014. Even if panel unit root or stationary tests may provide a rough first insight on the sustainability of the public finances, they fail to highlight the adjustment mechanisms to debt overhang in recent years. The main advantage of our empirical approach is that it clearly captures the government’s dynamic response to debt accumul…

MacroeconomicsEconomics and EconometricsGovernment050208 financemedia_common.quotation_subject05 social sciencesFiscal unionDebt overhangDebt0502 economics and businessFinancial crisisSustainabilityEconomicsUnit root050207 economicsFiscal sustainabilityFinancemedia_commonJournal of International Financial Markets, Institutions and Money
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