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Household Savings in Selected Southern European Countries Evidence from Cross-Country Micro-Level Data
The paper looks into the puzzle of low household savings in three Southern European (SE3) countries – Cyprus, Greece, and Portugal. Building on the household saving drivers literature, we employ cross-country micro-level data and investigate the key saving patterns, examining their heterogeneity across households in SE3 countries relative to the EA average. The results confirm the prominent role of income, along with interest rate, inflation, fiscal balance, and debt in shaping household savings in SE3 countries. Quantile regressions employed to analyze saving behavior across the distribution of households suggest that households with lower savings tend to see their savings dip (or dissavings rise) more-than-proportionately with shocks to income, interest rate, inflation, and government balance. Our policy simulations across the distribution of households suggest that targeted rather than universal policy intervention could improve household savings, especially of the most vulnerable ones.
Demographic Headwinds in Central and Eastern Europe
The populations of Central and Eastern European (CESEE) countries—with the exception of Turkey—are expected to decrease significantly over the next 30 years, driven by low or negative net birth rates and outward migration. These changes will have significant implications for growth, living standards and fiscal sustainability.
Introduction to Multicopter Design and Control
This book is the first textbook specially on multicopter systems in the world. It provides a comprehensive overview of multicopter systems, rather than focusing on a single method or technique. The fifteen chapters are divided into five parts, covering the topics of multicopter design, modeling, state estimation, control, and decision-making. It differs from other books in the field in three major respects: it is basic and practical, offering self-contained content and presenting hands-on methods; it is comprehensive and systematic; and it is timely. It is also closely related to the autopilot that users often employ today and provides insights into the code employed. As such, it offers a va...
Material Engineering And Mechanical Engineering - Proceedings Of Material Engineering And Mechanical Engineering (Meme2015)
The aim of proceeding of International Conference on Material Engineering and Mechanical Engineering [MEME2015] is to provide a platform for researchers, engineers, and academicians, as well as industrial professionals, to present their research results and applications developed for Material Engineering and Mechanical Engineering. It provides an opportunities for the delegates to exchange new ideas and application experiences, to enhance business or research relations and to find global partners for future collaboration. The object is to strengthen national academic exchanges and cooperation in the field, promote the rapid development of machinery, materials science and engineering application, effectively improve China's machinery, materials science and engineering applications in the field of academic status and international influence.
Republic of Fiji
The Fijian economy has recovered strongly from the pandemic. Real GDP rebounded by around 30 percent cumulatively in 2022–23, surpassing pre-pandemic levels. Inflation has recently ticked up modestly largely due to a temporary effect of the hike in Value-Added Tax rates. Supported by the economic recovery, the fiscal deficit and debt-to-GDP ratios continued to decline but remain at elevated levels. The FY2024 (August–July) budget included significant revenue enhancing measures, partially offset by spending increases, which, on balance, are expected to reduce the fiscal deficit and debt ratios. The monetary policy stance has remained accommodative, although the Reserve Bank of Fiji has begun tightening liquidity. The banking sector is sound overall, and asset quality is improving (although still lower than pre-pandemic levels). The coalition government is developing a program of growth-enhancing reforms, particularly in the National Development Plan due in June.
Routing in Opportunistic Networks
Routing in Opportunistic Networks focuses on the basics of opportunistic networks, modeling and communication in opportunistic networks, routing in opportunistic networks, and collaboration and cooperation in opportunistic networks. The editors will cover such topics as mobility characterization and discovery in opportunistic networks, scheduling and medium access control in opportunistic networks as well as testbed, tools, and measurements for opportunistic networks.
IMF Financial Operations 2015
IMF Financial Operations 2015 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and also provides background detail of the financial statements for the IMF's activities during the most recent financial year. This publication (currently in its second edition) updates a previous report entitled Financial Organization and Operations of the IMF, first published in 1986 and last issued in 2001 (the sixth edition). That 2001 report reflected the seismic shifts in the global economy and in the IMF's structure and operations that occurred after the fall of the Soviet Union and the various currency and financial crises of the 1990s. This revised and updated report covers more recent developments, including measures taken in response to the global financial crisis of 2007–09 and the institutional reforms aimed at ensuring that the IMF's governance structure evolves in line with developments in the global economy, measures to enhance the financial safety net for developing economies, as well as reforms to the IMF's income model.
State-Owned Enterprises in Bosnia and Herzegovina: Assessing Performance and Oversight
Based on a new database of State-Owned Enterprise (SOE) financial statements, we find that SOEs in Bosnia and Herzegovina are mostly in poor financial shape. We estimate the overall size and composition of the SOE sector, and identify individual companies that affect fiscal and macroeconomic performance. Financial analysis suggests that SOEs are not contributing enough to the economy. We also review the SOE governance framework and find that governments do not exercise their ownership function in line with WB/OECD guidelines. Reforms to the governance frameworks are necessary to foster transparency and improve accountability. More fundamental reform of the SOE sector might increase overall GDP by 3 percent per year.
