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2 edition of Government solvency, Ponzi finance and the redundancy and usefulness of public debt found in the catalog.

Government solvency, Ponzi finance and the redundancy and usefulness of public debt

Willem H. Buiter

Government solvency, Ponzi finance and the redundancy and usefulness of public debt

by Willem H. Buiter

  • 344 Want to read
  • 28 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Fiscal policy -- Mathematical models.

  • Edition Notes

    StatementWillem H. Buiter, Kenneth M. Kletzer.
    SeriesNBER working papers series -- working paper no. 4076, Working paper series (National Bureau of Economic Research) -- working paper no. 4076.
    ContributionsKletzer, Kenneth., National Bureau of Economic Research.
    The Physical Object
    Pagination45 p. ;
    Number of Pages45
    ID Numbers
    Open LibraryOL22439181M

    Eiopa cuts Solvency II infrastructure charges. Channels: SAA/ALM, Regulation Companies: European Insurance and Occupational Pensions Authority, Eiopa, European Commission Paragraph 7 of this article, describing the capital charges, was amended on 6 July following feedback from Eiopa. Solvency II is a comprehensive programme of regulatory requirements for insurers, covering authorisation, cor-porate governance, supervisory reporting, public disclosure, risk assessment and management, as well as sol-vency and reserving. It is one of, if not, the most sophisticated regulatory regimes in the world. As a conse-. to pay the interest on the public debt took 7 percent of Nigeria's economic output in Taken as a whole, the debt — some $31 billion — represents more than 71 percent of the country's entire gross domestic product after debt cancellation or buy back form. of external-debt (SRED) as an analytical tool, by applying it to the case of Turkish external debt between and Analysis of our results indicated that the SRED was a powerful indicator of Turkey’s external debt crisis. Key words: External debt, financial crisis, Turkish foreign debt, solvency ratio of external debt. Jel classificationFile Size: KB.

    A country’s public debt is considered sustainable when government budget constraints can be met without disrupting its monetary and fiscal policies. As the chapter will clarify, this implies that the amount of the public debt should not exceed the present value of all future primary surpluses. 5 Based on six financial indicators, the City of Chicago ranked in the less favorable half of the 13 cities over the five-year period. Those six indicators are the continuing services ratio (8th), operating deficit ratio (9th), net worth ratio (8th), expenses per capita (10th), liabilities per capita (11th) and taxes and fees per capita (9th). Basel III versus Solvency II Malcolm Kemp Comparative advantage Screen and finance short-term projects (as investors) invest long-term Greater public disclosure if SCR not covered, and more explicit deferral of payments on capital instruments qualifying for Tier 2. accounting rules for determining book assets and liabilities. Capital requirements are measured with direct recognition of the interaction of its assets and liabilities and how its risk profile changes as economic conditions change. Capital requirements are also based on the covariance of risks that affect asset and liability cash flows.

    Regulatory frameworks and government auditing of public debt by Laércio M. Vieira 1 Introduction This chapter provides an overview of the regulatory framework and auditing process with respect to Brazil’s public debt. These two areas are critical . By Henry C.K. Liu Part I: Crisis of Wealth Destruction Part II: Two Different Banking Crises - and Part III: The Fed’s No-Exit Strategy Part IV: The Fed’s Extraordinary Section 13(3) Programs Part V: Public Debt, Fiscal Deficit and Sovereign Insolvency This article appeared in AToL on Ap as Too Big to Save It is sometimes said that war’s legitimate child is. Nevertheless, Charles Ferguson, of Ferguson Solicitors, says investment banks have good reason to keep redundancy payments elevated. Payments in unfair dismissal cases in the UK are capped at £: Sarah Butcher. Following receipt of evidence from a range of stakeholders, the Treasury Committee has published its report on Solvency 2 and its impact on the UK insurance industry.. The report covers a range of areas including the background to Solvency 2 and the way it has been implemented in the UK, concerns over Risk Margin, proportionality and Brexit.


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Government solvency, Ponzi finance and the redundancy and usefulness of public debt by Willem H. Buiter Download PDF EPUB FB2

"Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt," NBER Working PapersNational Bureau of Economic Research, Inc.

Buiter, W.H. & Kletzer, K.M., "Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt," PapersYale - Economic Growth Center. Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt Willem H.

Buiter, Kenneth M. Kletzer. NBER Working Paper No. Issued in May NBER Government solvency Economics. Government solvency, Ponzi finance and the redundancy and usefulness of public debt. Cambridge, MA: National Bureau of Economic Research, [] (OCoLC) Material Type: Internet resource: Document Type: Book, Internet Resource: All Authors / Contributors: Willem H Buiter; Kenneth Kletzer; National Bureau of Economic Research.

Willem H. Buiter & K.M. Kletzer, "Ponzi Finance, Government Solvency and the Redundancy or Usefulness of Public Debt," Cowles Foundation Discussion PapersCowles Foundation for Research in Economics, Yale : RePEc:cwl:cwldpp Get this from a library.

Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt. [Kenneth M Kletzer; Willem H Buiter; National Bureau of Economic Research.;] -- We investigate how the ability of the government to depart from budget balance and issue debt expands the set of equilibria that can be supported using lump-sum tax-transfer.

Buiter and Kletzer: w Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt: Mendoza and Ostry: w International Evidence on Fiscal Solvency: Is Fiscal Policy Government solvency Mendoza and Government solvency w Public Debt, Fiscal Solvency and Macroeconomic Uncertainty in Latin America: The Cases of Brazil, Colombia.

The macroeconomic effect of government debt can be analyzed in several ways. Among others, it is important to investigate the plausibility of debt neutrality in the Japanese economy. There are two types of debt neutrality, Ricardian neutrality and Barro’s neutrality.

Ability of a borrower to make required payments on debt. For a person or firm, lack of solvency, or insolvency, usually leads to bankruptcy. For a government, no facility for bankruptcy exists, so insolvency leads either to default and consequent loss of the ability to borrow, or to Bailout by another government or international financial.

Government solvency, Ponzi finance and the redundancy and usefulness of public debt (NBER working paper No). Cambridge, MA: National Bureau of Economic Research. Cambridge, MA: National Bureau of Economic Research. Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty.

Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt. Article. Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt Working Papers, Yale - Economic Growth Center View citations (5) Also in NBER Working Papers, National Bureau of Economic Research, Inc () View citations (5) CEPR Discussion Papers, C.E.P.R.

Discussion Papers () View citations (4). Chapter 9 ♦ Some Tools for Public Sector Debt Analysis LICs are expressed in present value terms because their debt is predominantly concessional.

Finally, for LICs, the DSA framework is extended to include an explicit rating of the risk of external debt distress. Usually, a large component of external debt is public sector Size: KB. Intergenerational Transfers and the Stability of Public Debt with Short-Lived Governments.

Government Solvency and the Redundancy or Usefulness of Public Debt. Author: Jean-Pierre Laffargue. Regulatory insight Impact of government-related private loans under Solvency II David van Bragt, May 8, On January 1,Solvency II has become the new regulatory framework for European insurance companies.

Similar to asel II, Solvency II consists of different “pillars” in order to structure the regulatory process. The three pillars of. Working Paper File Downloads Abstract Views; Last month: 3 months: 12 months: Total: Last month: 3 months: 12 months: Total: A "Gold Standard" Isn't Viable Unless Supported by Sufficiently FlexibleMonetary and Fiscal Policy.

Mendoza and Oviedo: Public Debt, Fiscal Solvency and Macroeconomic Uncertainty in Latin America lower average growth rates or higher real interest rates. Moreover, sustainable debt ratios fall sharply when default risk is taken into account. Keywords: fiscal sustainability, public debt, sovereign default, default risk, so-vereign debt.

"Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public debt", with Kenneth M Kletzer, Yale University Economic Growth Center Discussion Paper, NoApril ; revised as "Ponzi Finance, Government Solvency and the Redundancy and Usefulness of Public Debt", November and May In the case of Ponzi scheme/game, which considers that public debt can be reimbursed on due date by contracting new debt without increasing fees and taxes, considering that the economic growth is higher than the interest rate of public credit, File Size: KB.

5 W. Buiter, K.M. Kletzer: Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt, NBER Working Papers, No.The primary surplus equals the total surplus minus interest payments on outstanding debt.

for the ratio of public debt to exports ( percent), or the ratio of debt to fiscal revenue ( percent). In these ratios, the present value of debt is used, and only a subset of external debt is taken into consider-ation, namely medium- and long-term public and publicly guaranteed debt.8 Several widely used debt ratios are discussedFile Size: KB.

proper management of domestic public debt in promoting macroeconomic-financial stability. Reinhart and Rogoff () pdf out that cases of default and restructuring of domestic public debt are far more common than those of external public debt, implying that more attention should be devoted to the domestic debt episodes.A Ponzi, or pyramid, scheme is a scam in which people are persuaded to invest through promises of unusually high returns, with early investors paid their returns out of money put in by later.Ebook is the ability of a ebook to meet its long-term financial obligations.

This ratio group is concerned with identifying absolute and relative levels of debt, financial leverage, and capital ratios allow users to gauge the degree of inherent financial risk, as well as the potential of insolvency. Financial risk is a relative measure; the absolute amount of debt used .