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Governments’ Payment Discipline
This paper considers the impact of changes in the payment discipline of governments on the private sector. We argue that increased delays in public payments can affect private sector liquidity and profits and hence ultimately economic growth. We test this prediction empirically for European Union countries using two complementary approaches. First, we use annual panel data, including a newly constructed proxy for government arrears. We find that payment delays and to some extent estimated arrears lead to a higher likelihood of bankruptcy, lower profits, and lower economic growth. However, while this approach allows a broad set of variables to be included, it restricts the number of time periods. We therefore complement it with a Bayesian VAR approach on quarterly data for selected countries faced with significant payment delays. We again find that the likelihood of bankruptcies rises when governments increase the average payment period.
Research Bulletin, March 2015
Articles in the March 2015 Research Bulletin focus on the oil market, energy subsidies, and output. The Research Summary on "An Exploration in Deep Corners of the Oil Market," authored by Rabah Arezki, Douglas Laxton, Armen Nurekyan, and Hou Wang, examines fluctuations in oil prices. "The State Budget May Afford It All," by Christian Ebeke and Constant Lonkeng Ngbouana, reviews energy subsidies and their fiscal, distributional, and environmental costs. In the “Q&A” column Pau Rabanal takes a look at “Seven Questions on Potential Output.” The Bulletin includes a listing of recent IMF Working Papers, Staff Discussion Notes, recommended readings from IMF Publications, and a call for papers for the next Annual Research Conference. A link with information and free access to IMF Economic Review is also included.
Regional Economic Outlook, April 2015: Western Hemisphere Department
The economic outlook for Latin America and the Caribbean remains very challenging. Regional growth is projected to decline for a fifth consecutive year in 2015, dipping below 1 percent. Weakness is concentrated among South America's commodity exporters, where falling global commodity prices have compounded country-specific challenges. Meanwhile, growth is projected to be steady or stronger for most of the Caribbean, Central America, and Mexico, supported by lower oil bills for importers and robust economic recovery in the United States. The analysis in this report examines core challenges facing the region: the impact of lower commodity prices on fiscal and external positions, the drivers of the slowdown in investment, and the role of economic diversification for longer-term growth prospects.
Doing Business 2017
Fourteenth in a series of annual reports comparing business regulation in 190 economies, Doing Business 2017 measures aspects of regulation affecting 10 areas of everyday business activity: • Starting a business • Dealing with construction permits • Getting electricity • Registering property • Getting credit • Protecting minority investors • Paying taxes • Trading across borders • Enforcing contracts • Resolving insolvency These areas are included in the distance to frontier score and ease of doing business ranking. Doing Business also measures features of labor market regulation, which is not included in these two measures. This year’s report introduces major improveme...
Contro la sinistra neoliberale
Sahra Wagenknecht è stata la leader del gruppo parlamentare del principale partito della sinistra radicale tedesca, Die Linke, dal 2015 al 2019, ottenendo più del 9% dei voti alle elezioni del 2017. Si è dimessa due anni dopo, ufficialmente per ragioni di stress. Ma sono in molti a sospettare che la sua decisione sia stata motivata dal progressivo scivolamento del suo partito verso quella forma di “neoliberismo progressista” che ormai sembra aver contagiato tutte le sinistre occidentali e che, secondo Wagenknecht, rischia di rappresentare la pietra tombale per la sinistra (per la cronaca, nelle elezioni del 2021, il partito, ora nelle mani della corrente liberal-progressista, ha dimez...
Perspectivas económicas, abril de 2015: Las Américas,
Perspectivas económicas: Las Américas, abril de 2015
Academic Belonging in Higher Education
The concept of belonging has been increasingly understood as the missing piece in diversity, equity, and inclusion efforts in higher education. This book explores the need to recognize and account for institutional-level factors that shape academic belonging, thereby improving student experience and outcomes. Though recent scholarship has identified several factors that are associated with student belonging in academics, there is little research that addresses what faculty can do in concrete terms to promote belonging, particularly in the domains where they have the most influence. The 12 chapters in this volume introduce readers to an array of collaborative, cutting-edge efforts to develop pedagogies, programs, strategies, and environments that help students develop academic belonging; that is, a sense of connection, competence, and confidence in academic domains. This book is written for higher education faculty, administrators, and researchers who wish to enhance their students’ sense of academic belonging by taking informed, practical measures to make them feel valued and supported.
Composite Fermions
This book was first published in 2007. When electrons are confined to two dimensions, cooled to near absolute zero temperature, and subjected to a strong magnetic field, they form an exotic new collective state of matter. Investigations into this began with the observations of integral and fractional quantum Hall effects, which are among the most important discoveries in condensed matter physics. The fractional quantum Hall effect and a stream of other unexpected findings are explained by a new class of particles: composite fermions. This textbook is a self-contained, pedagogical introduction to the physics and experimental manifestations of composite fermions. Ideal for graduate students and academic researchers, it contains numerous exercises to reinforce the concepts presented. The topics covered include the integral and fractional quantum Hall effects, the composite-fermion Fermi sea, various kinds of excitations, the role of spin, edge state transport, electron solid, bilayer physics, fractional braiding statistics and fractional local charge.
