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This paper shows that concerted debt reduction may be welfare-improving even when the investment disincentive effect of a debt overhang is not large enough to place the debtor country on the wrong side of the debt Laffer curve. Whether the appropriate relief scheme involves debt reduction or new money, however, depends on whether investment disincentives or liquidity constraints dominate. It is shown that, except under very special circumstances, mixed policy packages involving both debt and liquidity relief may not yield the desired results.

Asset and liability management --- Debt burden --- Debt buyback arrangements --- Debt Management --- Debt reduction --- Debt service --- Debt --- Debts, External --- Economic & financial crises & disasters --- Economics --- Exports and Imports --- External debt --- Finance --- Finance: General --- Financial Crises --- Financial crises --- Financial Risk Management --- International economics --- International Lending and Debt Problems --- Investment Decisions --- Liquidity --- Portfolio Choice --- Sovereign Debt --- Mexico

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What all of us can do to fight the pervasive human tendency to enable wrongdoing in the workplace, politics, and beyondIt is easy to condemn obvious wrongdoers such as Elizabeth Holmes, Adam Neumann, Harvey Weinstein, and the Sackler family. But we rarely think about the many people who supported their unethical or criminal behavior. In each case there was a supporting cast of complicitors: business partners, employees, investors, news organizations, and others. And, whether we're aware of it or not, almost all of us have been complicit in the unethical behavior of others. In Complicit, Harvard Business School professor Max Bazerman confronts our complicity head-on and offers strategies for recognizing and avoiding the psychological and other traps that lead us to ignore, condone, or actively support wrongdoing in our businesses, organizations, communities, politics, and more.Complicit tells compelling stories of those who enabled the Theranos and WeWork scandals, the opioid crisis, the sexual abuse that led to the #MeToo movement, and the January 6th U.S. Capitol attack. The book describes seven different behavioral profiles that can lead to complicity in wrongdoing, ranging from true partners to those who unknowingly benefit from systemic privilege, including white privilege, and it tells the story of Bazerman's own brushes with complicity. Complicit also offers concrete and detailed solutions, describing how individuals, leaders, and organizations can more effectively prevent complicity.By challenging the notion that a few bad apples are responsible for society's ills, Complicit implicates us all--and offers a path to creating a more ethical world.

Business ethics. --- Ethics --- Corporations --- Psychological aspects. --- Corrupt practices. --- Addiction. --- Adviser. --- Agnotology. --- American Capitalism. --- Anne Applebaum. --- Auditor. --- Barack Obama citizenship conspiracy theories. --- Branch Davidians. --- Business school. --- Buyback. --- Code of silence. --- Complicity (novel). --- Complicity. --- Compromise of 1790. --- Conspiracy theory. --- Core business. --- Corruption. --- Customer. --- Dan Ariely. --- Deliberation. --- Dictator game. --- Diederik Stapel. --- Discipline. --- Disparagement. --- Economics. --- Economist. --- Education. --- Electoral fraud. --- Elizabeth Holmes. --- Employment. --- Enron. --- Escrow. --- Eugenics. --- Expense. --- False prophet. --- Fiat money. --- Financial crisis of 2007–08. --- Fraud. --- Free trade. --- Friedrich List. --- God. --- Harvey Weinstein. --- Impossibility. --- Insurance. --- Interest of the company. --- Investor. --- Jeffrey Wigand. --- Jehovah's Witnesses. --- John F. Kennedy. --- Ku Klux Klan. --- Layoff. --- Liberalism. --- Loyalty. --- Mail and wire fraud. --- McKesson. --- McKinsey & Company. --- Medal. --- Moral equivalence. --- Mortgage discrimination. --- Nanny state. --- Nazi Party. --- New Departure (Democrats). --- Nudge (book). --- Omission bias. --- Opioid. --- Oxycodone. --- Patient safety. --- Peter Singer. --- Physician. --- Physiocracy. --- Political economy. --- Profiles in Courage. --- Protectionism. --- Purdue Pharma. --- Quota System (Royal Navy). --- Racism. --- Redlining. --- Self-interest. --- Sexual assault. --- Shareholder. --- Socialism. --- Something Fishy. --- Tax. --- That Night. --- The Dissident. --- The Other Hand. --- The Theory of Moral Sentiments. --- The Wealth of Nations. --- Theranos. --- Thomas Robert Malthus. --- Tobacco industry. --- Utilitarianism. --- Venture capital. --- Volkswagen emissions scandal. --- Walgreens. --- War crime. --- WeWork. --- White supremacy. --- Wrongdoing.