 | Governments' Payment Discipline : The Macroeconomic Impact of Public Payment Delays and Arrears Author/Editor: Cristina Checherita-Westphal, Alexander D Klemm, Paul Viefers. Release Date:January, 2015 This paper considers the impact of changes in the payment discipline of governments on the private sector. We argue that increased delays in public payments can affect private sector liquidity and more...
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