We examine how the composition of public debt, broken down by currency, maturity, holder profile and marketability, has responded to major debt accumulation and consolidation episodes during 1900-2011. Covering thirteen advanced economies, we focus on debt structure shifts that occurred around the two World Wars and global economic downturns, and the subsequent debt consolidations. Notwithstanding data gaps, we are able to recover some broad common patterns. Episodes of large debt accumulation—essentially, large increases in debt supply— were typically absorbed by increases in short-term, foreign currency-denominated, and banking-system-held debt. However, this pattern did not hold during the debt build-ups starting in the 1980s and 1990s, which were compositionally skewed toward long-term local-currency debt. We attribute this change to higher structural demand for sovereign paper, linked to capital account liberalization in advanced economies, the emergence of a large contractual saving sector, and innovative sovereign debt products. With regard to debt consolidations, we find support for the financial repression-cum-inflation channel for post World War II debt reductions. However, the scope for a repeat of this strategy appears limited unless financial liberalization and globalization were materially rolled back or the current globally agreed monetary policy regime built around price stability abandoned. Neither are significant favorable structural demand shifts, as witnessed in the 1980s and 1990s, likely.
Rhetoric in the Time of Torture offers a renewed attention to the rhetorical and temporal dimensions of torture, in light of the U.S.’s post-9/11 reliance on heavy interrogation techniques. Laura A. Sparks highlights where rhetorical theory fits into a world in which people torture others to make them speak.
Fort DuPont is named in honor of Rear Adm. Samuel Francis Du Pont and located on the Reeden Point tract, land initially granted to Henry Ward in 1675. Fort DuPont originated during the Civil War as a heavily armed earthwork fortification. In 1864, Sgt. Bishop Crumrine wrote, "these guns command the channel and could blow to atoms any vessel rash enough to attempt to pass." In the decades to follow, the battery at Delaware City was gradually modernized into a formidable military post that remained active through World War II. Declared surplus, the site reopened in 1948 as the Governor Bacon Health Center. By 1996, over 300 acres were reestablished as Fort DuPont State Park.
A How-To Guide for the Modern Leader Inspired by Peter Drucker's groundbreaking book The Effective Executive, Laura Stack details precisely how 21st-century leaders and managers can obtain profitable, productive results by managing the intersection of two critical values: effectiveness and efficiency. Effectiveness, Stack says, is identifying and achieving the best objectives for your organization—doing the right things. Efficiency is accomplishing them with the least amount of time, effort, and cost—doing things right. If you're not clear on both, you're wasting your time. As Drucker put it, “There is nothing so useless as doing efficiently that which should not be done at all.” Stack's 3T Leadership offers twelve practices that will enable executives to be effective and efficient, grouped into three areas where leaders spend their time: Strategic Thinking, Teamwork, and Tactics. With her expert advice, you'll get scores of new ideas on how you, your team, and your organization can boost productivity.
We often think of ancient times as simpler and more basic, but the ancient Mesopotamians were a complex society, in which people used their geography to their advantage. This informative resource explores the rise of the city-state as well as what led to their development, including the heights and densities of the buildings and levels of government. Readers will also learn how city-states differ from simple settlements. This thoroughly researched volume also delves into Mesopotamian empires and how the ancient Mesopotamians governed, such as by using a set of laws called the Code of Hammurabi.
Where do we turn when our hopes are dashed, when we look at best-laid plans and see only shattered dreams? With fresh perspectives on Jeremiah’s plans for “a future of hope,” Jesus’ agony in the garden, and Isaiah’s promise of “a way in the wilderness,” Laura Kelly Fanucci offers hope for those wondering what comes next when life feels broken.
Loss comes to each of us, without fail. Scripture can serve as a companion to us in the grief we bear and ultimately in our surrender to our compassionate God. Through this set of insightful reflections on the stories of Ruth and Naomi, the death and raising of Jesus' friend Lazarus, and the promise of a new heaven and earth, Laura Kelly Fanucci invites us to a deepening experience of God's healing presence in our lives.
We use a new, comprehensive data set on the sovereign debt investor base to document three novel empirical facts: (i) sovereign debt is repatriated - that is, shifted from external private to domestic investors - prior to sovereign defaults; (ii) not all crises are equal: evidence for repatriation during banking and currency crises is more limited; and (iii) the nature of defaults matters: external investors do not leave during preemptive debt restructurings. We further show that repatriation appears to be prevalent when defaults happen in large markets with low capital controls. The data set we use is uniquely suited to analyzing investor base dynamics during rare crises due to its large cross-section and time series, covering 180 countries from 1989 to 2020.
When St. Benedict wrote his little rule for beginners in the fifth century, he could not have known it would shape the lives of religious men and women for more than fifteen hundred years. Offering instruction on prayer and community life, Benedict's Rule espouses the values of humility, prayer, and hospitality that have marked the lives of Benedictines throughout the ages. Benedictines are those persons who commit themselves to the Rule of Benedict, and have been popes and widows, scholars and mystics and lay people from many religious traditions, including Catholics, Anglicans, Methodists, and Lutherans. They have lived in monasteries and ashrams, in busy urban centers, and in desert hermitages. Dedicated to God and the practices of the Liturgy of the Hours and monastic life, Benedictines have made significant contributions to chant, theology, and the preservation of spiritual works of literature and scholarship. Represented here is the work of major Benedictine figures throughout the ages, beginning with Pope Gregory's account of the life of Benedict and arriving at recent statements by the Conference of Benedictine Prioresses on conflict in the world. Along with the Rule, the writing of these Benedictines remains as relevant today as in any age. Laura Swan, OSB, writer and spiritual director, holds graduate degrees in theology and spirituality. She is a member and former prioress of Saint Placid Priory in Lacey, Washington, and is the author of Engaging Benedict: What the Rule Can Teach Us Today (Christian Classics, 2005).
Jesus calls us to be merciful as his heavenly Father is merciful (Luke 6:36). Explore one of the psalms that offers thanks for God's mercy in salvation history, and reflect on two gospel stories that illustrate the meaning of mercy then and now.
A collaborative effort in which the three authors address the controversies that arise in the regulation of chemicals that are known or suspected to cause cancer. Annotation copyrighted by Book News, Inc., Portland, OR
Comprehensive in scope and thoroughly up to date, Wintrobe’s Clinical Hematology, 15th Edition, combines the biology and pathophysiology of hematology as well as the diagnosis and treatment of commonly encountered hematological disorders. Editor-in-chief Dr. Robert T. Means, Jr., along with a team of expert section editors and contributing authors, provide authoritative, in-depth information on the biology and pathophysiology of lymphomas, leukemias, platelet destruction, and other hematological disorders as well as the procedures for diagnosing and treating them. Packed with more than 1,500 tables and figures throughout, this trusted text is an indispensable reference for hematologists, oncologists, residents, nurse practitioners, and pathologists.
A pilot's widow, Stephanie Olmstead isn't afraid of flying…until the plane takes off, triggering a panic attack! Suddenly, the single mother of twins has a new man in her life. Brady McGuire, the pilot who saved her from a major meltdown, now sees himself as her protector. And friend. Between flying and moving across the country to be closer to his daughter, Brady's life is hectic enough. But ever since he played hero, he can't stay away from the gorgeous single mom and her infant girls. That's when things start happening really fast. But is Stephanie ready to move on? Brady has his doubts. One thing's for sure, it's going to be a bumpy ride!
We examine how the composition of public debt, broken down by currency, maturity, holder profile and marketability, has responded to major debt accumulation and consolidation episodes during 1900-2011. Covering thirteen advanced economies, we focus on debt structure shifts that occurred around the two World Wars and global economic downturns, and the subsequent debt consolidations. Notwithstanding data gaps, we are able to recover some broad common patterns. Episodes of large debt accumulation—essentially, large increases in debt supply— were typically absorbed by increases in short-term, foreign currency-denominated, and banking-system-held debt. However, this pattern did not hold during the debt build-ups starting in the 1980s and 1990s, which were compositionally skewed toward long-term local-currency debt. We attribute this change to higher structural demand for sovereign paper, linked to capital account liberalization in advanced economies, the emergence of a large contractual saving sector, and innovative sovereign debt products. With regard to debt consolidations, we find support for the financial repression-cum-inflation channel for post World War II debt reductions. However, the scope for a repeat of this strategy appears limited unless financial liberalization and globalization were materially rolled back or the current globally agreed monetary policy regime built around price stability abandoned. Neither are significant favorable structural demand shifts, as witnessed in the 1980s and 1990s, likely.
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