Implicit
in sentence
376 examples of Implicit in a sentence
The BoE has given an explicit answer, and the other major central banks
implicit
answers, to that question.
Given that the
implicit
nominal exchange rates are fixed “forever” within the euro, these countries have accumulated major deficits relative to Germany.
China faces additional debt risks from contingent liabilities and inter-departmental risk conversion, especially in the form of
implicit
guarantees on debts incurred by local governments and state-owned enterprises.
But the
implicit
guarantees on these bonds – as well as on existing bank loans – amount to hidden extra-budgetary liabilities for the central government.
The
implicit
guarantees on this debt, too, suggest that the government’s liabilities are much higher than its balance sheet indicates.
The German election will not produce a political earthquake and will not suddenly open the door to a federal Europe on the model of the United States, with large
implicit
fiscal transfers and highly centralized defense and foreign policies.
The danger for central banks stems from the fact that the
implicit
subsidies provided to major financial institutions are not measured in any budget.
Higher leverage creates macroeconomic risk – not least for fiscal balances when
implicit
guarantees must be honored.
Because the credit system has been designed around
implicit
state guarantees, much of the financing is misallocated to the economy’s less efficient, highly indebted sectors.
This is difficult, because getting rid of the
implicit
guarantee enjoyed by a state-owned company is virtually impossible.
If Germany wants the rest of Europe to swallow the bitter pill of fiscal retrenchment, it will eventually have to recognize the
implicit
quid pro quo.
Warren’s message is simple: remove the
implicit
government subsidies that support the too-big-to-fail banks.
Another shift
implicit
in Sadat’s strategy was to keep Egypt at a distance from pan-Arabism.
The
implicit
immunity from prosecution these groups received in exchange for their demobilization has done little to help.
Rather than reflecting a lack of political will to come together and speak with a single voice on strategic issues – the conventional interpretation – diverse voices are the result of an
implicit
choice that Europeans make.
The
implicit
preferred-creditor status is based on central-bank practices that establish that the lender of last resort is the “last in and first out.”
As for the official banking sector, liberalization of interest rates on deposits, scheduled for 2016, will reduce financial repression and
implicit
investment subsidies.
No
implicit
alliance can be taken for granted.
For the serious argument against monetary finance lies not in the technicalities of future
implicit
taxes, but in the danger that if we break the taboo and treat monetary finance as an acceptable option, politicians will be tempted to draw again and again from the well of monetary finance.
Virtually all of the debt repayments due in the next few years are to the IMF, whose
implicit
status as “senior” creditor ensures that it is repaid first.
Even if China agreed to buy the debt, it would likely consider buying some of the special paper that the EFSF plans to issue only if it obtained some political concessions and an
implicit
guarantee from Germany.
Sovereign-debt restructurings are even more complicated than domestic bankruptcy, plagued as they are by problems of multiple jurisdictions,
implicit
as well as explicit claimants, and ill-defined assets upon which claimants can draw.
India should seek to play the role of honest broker to defuse the threat of military hostilities, which would most likely shut down the world’s most important oil-export route, the Strait of Hormuz (a danger that Iran has said is also
implicit
in an oil-export embargo against it).
For economists, the debate focuses on the moral hazard created by ex ante expectations of a bailout, which reduce market discipline on excessive risk-taking – as well as on the unfair advantage that such
implicit
guarantees give to large players over their small-enough-to-fail competitors.
But its share is declining, while China, using both carrots (like tax holidays and special enterprise zones) and sticks (like explicit and
implicit
local-content requirements) to attract foreign companies, has become the second-largest destination.
On the other hand,
implicit
subsidies to too-big-to-fail banks must be dropped.
Financial conditions could be controlled with one tool – the short-term interest rate – deployed exclusively in pursuit of a target,
implicit
or explicit, for consumer price inflation.
Her statement, with its allusion to the Cold War-era Iron Curtain, amounted to an
implicit
admission that the central assumption guiding US policy on China since the 1990’s – that assisting China’s economic rise would usher in greater political openness there – has gone awry.
Recent economic and monetary policy changes have exposed a crucial ambiguity that had always been
implicit
in the way the NBER thought about business cycles.
Putin’s show of strength involved military force and the
implicit
threat of a gas embargo, not monetary power (which he does not have).
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