reducing their exposure to bad firms; and (4) tax arrears in CEEFSU economies have emerged as a major source of soft budget … constraints in recent years, but enterprise-level data for China show that as of the early 1990s, tax arrears were not an …

, exacerbating imbalances and adding to external payments arrears. Total budgetary revenue as a share of GDP fell and noninterest …

its contracts decrease with the arrears in its labor market. The model is estimated on panel data for workers and firms in … attenuated by neighborhood arrears. We also study a nonlinear case with two stable equilibria: a punctual payment and a late …

. Any attempts to conduct contractionary monetary policy led on impact to worsening of arrears problem. The arrears chain … appeared in the economy since 1993, and inter-enterprise arrears fast growth has caused severe financial crisis through whole … economy resulted in the appearance with three-year lag socially dangerous tax arrears, wage arrears, and pension arrears. The …

them by the market and by increasingly illiquid local governments. Accumulating inter-enterprise arrears, as well as …

recession for more than a decade has been accompanied by a sustained decline in the level of mortgage arrears, as reported by … major lenders. This paper seeks to examine the factors which have driven the reduction in mortgage arrears and, in doing so …, identify those factors which are most likely to cause arrears to increase in the future, should economic conditions deteriorate …

question through an examination of the widespread practice of wage arrears, the late and non-payment of wages, in Russia during … the 1990s. Existing research on wage arrears most often examines this practice as a means of flexible wage adjustment … under difficult economic conditions. We develop an alternative theory that explains wage arrears through their acceptance as …

Three hypotheses about the nature of federal tax arrears in Russia in the second half of the 1990s are tested … empirically. Tax arrears can be a result of: 1) liquidity problems in firms, 2) redistribute subsidies of the federal government … variation in tax arrears. Regional political resistance to federal tax collectors was also an important factor: for a given …

’s arrears affect the late payment costs faced by other firms in the same local labor market, resulting in a strategic …, effort, strikes, and legal penalties – imply that costs of delays are attenuated by neighborhood arrears. We also study a …

find that wage arrears and payment in-kind attenuated wage discrimination, particularly amongst the lowest paid workers …