منابع مشابه
New Statistical and Econometric Approaches to Assessing Financial Processes (Banking Sector, Public Debt, Financial Management)
The results of studies on the development of new statistical and econometric approaches to modeling budget policy is presented. The obtained results are applied on the example of tax revenue modeling. The authors note the importance of ensuring transparency and predictability of state financial policy, the realisticness of economic forecasts, because this is the basis of budget modeling. It is ...
متن کاملSovereign debt , government myopia , and the financial sector 1 Viral
What determines the sustainability of sovereign debt? In this paper, we develop a model where myopic governments seek electoral popularity but can nevertheless commit credibly to service external debt. They do not default when they are poor even though default costs are low because they would lose access to debt markets and be forced to reduce spending; they do not default when they become rich...
متن کاملGermany: The public sector in the financial and debt crisis
In this article I analyse the changing contours of public sector employment relations in Germany during and after the financial and debt crisis. In order to understand what is distinctive in German experience and what is similar with that elsewhere, I provide a comparative perspective of selected EU member states, especially Austria. First, I describe in some detail the impact of various auster...
متن کاملSovereign debt, government myopia, and the financial sector
What determines the sustainability of sovereign debt? In this paper, we develop a model where myopic governments seek electoral popularity but can nevertheless commit credibly to service external debt. They do not default when they are poor even though default costs are low because they would lose access to debt markets and be forced to reduce spending; they do not default when they become rich...
متن کاملDebt Structure and Financial Flexibility
I study the relation between firm debt structure and future financial flexibility. I consider how the total level of debt, maturity, security, and priority may potentially impact a firm’s ability to raise new financing and undertake profitable investments. I find that firms with lower total debt (high debt capacity) are more financially flexible. Lower leverage increases future new debt issues ...
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ژورنال
عنوان ژورنال: Journal of Banking & Finance
سال: 2019
ISSN: 0378-4266
DOI: 10.1016/j.jbankfin.2019.07.017