A sovereign debt crisis is the consequence of a private sector crisis.
The analysis identified the advantages of a sectorally balanced, dynamic Nexus approach, in particular the ability to reveal either the emergence of cross-sectoral connections, or changes in those connections, as a consequence of single sector interventions.
This fact suggests that the role of the financial sector in partial correlation networks cannot be simply interpreted as a result of the large average correlation among the stocks belonging to it, but this role is mainly a consequence of inter-sector correlations.
PwC, a consultancy, said the other day that it thinks that another half a million private jobs could go over the coming five years as a direct consequence of public-sector austerity, although the chancellor insists that his medicine will be good for the country in the long run.
He added that an unintended consequence of a laudable aim might be a "labour light" service sector.
"The ordeal these families have endured highlights the dire consequences of public sector organisations getting it wrong and not communicating effectively".
In related work, Verner has also studied the real economic consequences of banking sector distress during financial crises around the world over the past 150 years.
"The really fundamental question is whether the overall level of financial services pay is a consequence of the swollen financial sector which has resulted from oversimplistic financial deregulation.
For example, the evidence presented in the existing literature, has failed to generate a consensus around the determinants and consequences of the informal sector among researchers.
Sweden has identified a dozen or so sectors where the consequences of a no-deal Brexit could be "immediate and serious", the country's EU minister, Ann Linde, said last week.
