This is especially bad for debt-laden households, businesses and governments in Southern Europe, which will have little scope to 'inflate away' their debt burden by increasing nominal wages," Brosens said.
Using a gene-based approach, we identified 17 genes with nominal burden signals.
A total of 17 genes had a nominal burden signal of association (P <0.05), most of which had two or more nonsynonymous rare variants, although they did not reach the threshold for significance after Bonferroni correction (P <1.2 × 10−4) (Table 2, Figure S5 in Additional file 1).
Evidence (from the Bank of England here) and theory (from Paul Krugman here and Mervyn King here) suggest that when there's a shock and confidence collapses, households think less about their net worth and more about their gross nominal debt burden – specifically its relation to their expected future incomes.
In this context, it is noteworthy that ETR has a mean of 29%, which is lower than the nominal overall burden of 31.2% but still relatively high (BDI and VCI 2013; see Langkau and Rubart 2013, for comparably high levels of effective tax rates of German enterprises).
A reasonable assumption is that identification of recurrent disease at the earliest moment will allow for initiation of auxiliary therapies against a nominal tumor burden that has accumulated fewer oncogenic events.
This is because it lowers real debt burdens and increases the nominal value of real assets.
Higher inflation also chips away at nominal debt burdens and thus hastens deleveraging.
Since, with the exception of index-linked bonds, debt obligations are set in nominal terms, its burden rises in real terms when deflation sets in.The ECB faces difficult choices, which are set out in an article in this week's print edition.
"This in turn could result in slower rates of growth of nominal incomes, increasing the burden of existing debts," the Bank of England said.
