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Recent events have shown that sovereigns, just like banks, can be subject to runs, highlighting the importance of the investor base for their liabilities. This paper proposes a methodology for compiling internationally comparable estimates of investor holdings of sovereign debt. Based on this methodology, it introduces a dataset for 24 major advanced(More)
The Russian 'flat tax' reform SUMMARY In 2001, Russia dramatically reduced its higher rates of personal income tax (PIT), establishing a single marginal rate at the low level of 13%. In the following year, real revenue from the PIT increased by about 26%. This 'flat tax' experience has attracted much attention (and emulation), making it perhaps the most(More)
We prove precise upper bounds for the minimum weight of a path on three vertices in several natural classes of plane graphs with minimum degree 2 and girth g from 5 to 7. In particular, we disprove a conjecture by S. Jendrol' and M. Maceková concerning the case g = 5 and prove the tightness of their upper bound for g = 5 when no vertex is adjacent to more(More)
A graph G is (k, 0)-colorable if its vertices can be partitioned into subsets V1 and V2 such that in G[V1] every vertex has degree at most k, while G[V2] is edgeless. For every integer k ≥ 1, we prove that every graph with the maximum average degree smaller than 3k+4 k+2 is (k, 0)-colorable. In particular, it follows that every planar graph with girth at(More)
This chapter investigates whether fiscal policy should be used to combat business cycle fluctuations, especially downturns. Can discretionary fiscal policy successfully stimulate output? Or does it do more harm than good? New evidence presented here, from emerging as well as advanced economies, indicates that the effects of fiscal stimulus can be positive,(More)
A graph G is called (k, 1)-colorable, if the vertex set of G can be partitioned into subsets V1 and V2 such that the graph G[V1] induced by the vertices of V1 has maximum degree at most k and the graph G[V2] induced by the vertices of V2 has maximum degree at most 1. We prove that every graph with a maximum average degree less than 10k+22 3k+9 admits a (k,(More)
BACKGROUND Type 2 diabetes mellitus is a complex, progressive disease which requires a variety of quality improvement strategies. Limited information is available on the feasibility and effectiveness of interdisciplinary diabetes care teams (IDCT) operating on the interface between primary and specialty care. A first study hypothesis was that the(More)