One is leverage.

Emerging Europe s Deleveraging Dilemma

Thereafter, the earnings from these projects serve to leverage additional projects and to replenish the administrative budget.

So consumers got overleveraged.

The Secretariat leverages the technologies it has in place to protect its own systems and anticipates increasing this leveraging effect for the benefit of the missions within current resources.

It's because there's a little more leverage in terms of the Chinese.

It shows leverage, trended out from 1919 to 2009.

Leveraging resources and results for children

Seeing such data, one cannot help but be stupefied. According to the statistical data of Suning Financial Research Institute, the leverage ratio of Chinese households was only 3 in 1996 and 18 in 2008. But this figure doubled in just six years since the trend of rapid growth of leverage ratio set in, reaching 36.4 . By the third quarter of 2017, the leverage ratio of households has reached 48.6 .

The US is adjusting structurally and generating real (inflation adjusted) GDP growth (though well below its potential annual rate of 3 3.5 ). The tradable sector is expanding and is not dependent on leverage to generate aggregate demand.

Official Development Assistance (ODA)

One explanation is that the advanced economies had taken on too much debt and needed to deleverage, contributing to a pattern of public sector underinvestment and depressing consumption and private investment as well. But deleveraging is a temporary process, not one that limits growth indefinitely.

But it was a bubble and a highly leveraged one at that. While periodic bubbles may be unavoidable, and no bubble is without consequences, a highly leveraged bubble tends to cause far more damage, owing to its impact on the real economy and the duration of the deleveraging process.

And it has all kinds of levers and ball bearings and gadgets and gauges.

With insufficient profits to use for investment, nonfinancial corporations will become increasingly dependent on external finance. As their leverage ratios increase, so will their risk premiums, causing their borrowing costs to rise and undermining their profitability further.

We started with a motor with a little lever, a little force transfuser.

What policy levers and instruments can be used to provide appropriate incentives?

Without disputing the need for some deleveraging, a new incarnation of the Vienna Initiative Vienna 2.0 seeks to make the process orderly. After all, excessive and chaotic deleveraging by lenders to emerging Europe and the ensuing credit crunch would destabilize this economically and institutionally fragile region.

Decisions are taken by an elite that controls the levers of power and uses them for its own benefit to ensure that it is continually re elected.

But there remains the question of whether consumption share growth is sustainable that is, whether it is the result of income share growth or rising leverage. If it is supported by excessive leverage, effectively shifting future consumption to the present, China could face a significant slowdown or even a major crisis.

Regulators are already talking about imposing leverage ratios, as well as limits on risk weighted assets. If they follow through, as I expect, there will be no return to the strategies of the last two decades.

Don t go there in the first place avoid whatever it is whether external pressure under the gold standard, asset price bubbles, or leverage and panic cycles such as that of 2003 2009 that creates the desire to deleverage.

And the problem with leverage is it makes the U.S. financial system look like this.

1. Don t go there in the first place avoid whatever it is whether external pressure under the gold standard, asset price bubbles, or leverage and panic cycles such as that of 2003 2009 that creates the desire to deleverage.

It's starting to play with them as levers, to get conscious about them and to move to different places.

If you put up a prize, you can get literally a 50 to one leverage on your dollars.

Recent IMF research suggests that, given excess capacity, governments would probably benefit from substantial short run multipliers. More important, the focus on investment would improve prospects for long term sustainable growth, which would enable governments and households to pursue responsible deleveraging.

At the end of the day, resolving private sector leverage problems by fully socializing private losses and re leveraging the public sector is risky. At best, taxes will eventually be raised and spending cut, with a negative effect on growth at worst, the outcome may be direct capital levies (default) or indirect ones (inflation).

Translating policies, legislation, plans and budgets into large scale accelerated action

Meanwhile, savers are being repressed, asset prices distorted, and incentives to maintain or even increase leverage enhanced. Competitive devaluations, even if they are not policymakers stated objectives, are becoming increasingly tempting though they will not solve the aggregate demand problem.

That pattern came to a sudden stop in the financial crisis of 2008. Private sector leverage declined and public sector leverage reached and exceeded sustainable limits, with Greece being only the most extreme example.

The residents sector accounts for an increasing share of the total debt in the real economy, and the leverage ratio has risen rapidly.

And I learned about profit and revenue, about leverage, all sorts of things, from farmers, from seamstresses, from goat herders.

Other promising avenues for leveraging resources and results for children will be assessed.

What this line of research explicitly does not tell us is that deleveraging will restore growth by itself. No one believes that fiscal balance is the whole growth model anywhere.

Real gains in arms control and disarmament depend not on leverage or altruism, but on what is possible at a given moment as a matter of security.

If the economy as a whole desires to deleverage, a depression ensues. It is then the central bank s job to intervene in the banking system in order to push the market interest rate to the natural interest rate, thereby balancing the economy at full employment without excess inflation.

The first key factor is deleveraging and the resulting shortfall in aggregate demand. Since the financial crisis began in 2008, several developed countries, having sustained demand with excessive leverage and consumption, have had to repair both private and public balance sheets, which takes time and has left them impaired in terms of growth and employment.

The initial export shock was likely to reduce growth. The sudden deleveraging imposed by foreign creditors requires the current account balance to adjust further and faster.

As a result, predictions for the United States where household deleveraging continues to constrain economic growth have fallen short only modestly. The April 2010 report forecast a US growth rate of roughly 2.5 annually in 2012 2013 current projections put the rate a little higher than 2 .

If public sector deleveraging is not a complete growth policy and it isn t why is there so much attention on fiscal austerity and so little action (as opposed to lip service) on growth and employment?

Implementation approach A Leveraging policies, legislation, plans and budgets through enhanced knowledge and evidence

Uncertainty about how, exactly, the liabilities of highly leveraged banks and over leveraged peripheral governments are to be guaranteed is shrinking the supply of safe savings vehicles at a time when macroeconomic rebalancing calls for it to be rising. And the rapid reductions in budget deficits that European governments are now pledged to undertake can only increase the likelihood of a full double dip recession.

One is that, facing declining growth, policymakers will resort to excess investment or leverage (or both), creating instability. The other is that they will resort to neither, and that no alternative growth engines will have been started, leading to an extended slowdown with unpredictable political consequences at home and serious economic consequences abroad.

UNOPS provides start up funds from its administrative budget only in order to leverage the first one or two projects.