In contrast, in the market equilibrium a larger debt induces a higher volatility of consumption (recall that ( b; w ) is monotone increasing in b –see Lemma 1 –so higher debt

If the planner can observe (as do investors in the competitive equilibrium) the reform e¤ort, the optimal contract with observable e¤ort is qualitatively di¤erent from the

Keywords: Debt Overhang, Default, Dynamic Principal-Agent Model, European Debt Cri- sis, Markov Equilibrium, Moral hazard, Renegotiation, Risk premia, Sovereign Debt,

In our approach we reorder the constituents in a parse of the German sentence to give the following word order, which is much closer to the target English word order (words which

In many years, authors have proved commutative theorems for prime rings with

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During the 12 months ending January 2012, the available inventory of new and exist - ing homes in the HMA averaged a 9-month supply compared with the average 10-month

This research paper provides information on the teaching and practicing of pronunciation in EFL [English as a Foreign Language] classrooms and proposes, as its main purpose,

Right now to evaluate the AT Commands on GPRS Shield, one needs to install it on an Arduino compatible board which is running a sketch to relay characters to and fro between

Eurozone, treasury, fiscal union, sovereign debt crisis, moral hazard, adverse selection, Eurobonds, EMU, structural reforms, fiscal rules.. Zona euro, Tresor, Unió fiscal, crisis

The visual target coordinates then flow into the Reactive Visual TPV Storage module (Section A10, equation (116)) and activates the Reactive DV module (Figure 10 and Section

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If English is not your native language, you are required to take the Test of English as a Foreign Language (TOEFL) or IELTS and have an official score report sent to

3 ） Increase the max FACH power to +3dB to optimize the RRC failures brought by decreased SF gain. Remember to use the old value when making

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The PowerPivot for Excel 2010 add-in provides the integration of data from multiple sources and lightning-fast manipulation of large data sets with up to millions of rows..

In the 2005 guideline “Controlling Tuberculosis in the United States: Recommendations from the American Thoracic Society, Centers for Disease Control and Prevention (CDC), and