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The potentially more dangerous default outcome is if Greece decides to leave or is forced to leave the euro, according to Mr. Buiter.
The exact reason for the shift from parole approval to a "default" outcome of denial is not clear, but the paper speculates that breaks may replenish mental resources by providing "rest, improving mood or by increasing glucose levels in the body".
"While we recognize that both parties are strongly opposed to allowing sequestration to happen, we remain deeply concerned that sequestration could occur as the default outcome if negotiations fail," Marillyn A. Hewson, the chief executive of Lockheed Martin, told investors in January.
The default outcome, then, is catastrophe".
We begin by analyzing the relationship between the default outcome and borrowers' choice to disclose their microblog account.
This result demonstrates the exact nature of commitment powers required by the principal: to design the default outcome and to ensure that she has almost no formal control over the agent's decisions.
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Willem Buiter, the chief economist at Citigroup, presents two possible default outcomes.
We wanted a default, an outcome that would be a true reflection of the terrible extent to which we were dispirited by the choices.
Or would they simply allow them to default — an outcome that would have major repercussions for Europe and financial markets worldwide?
The overall percent quarterly change for all smear positive TB patients in South Africa from Q1 2007 through the end of the TB Tracer Project in Q1 2009 showed a significant decrease in default treatment outcomes and a significant increase in successful treatment outcomes among tracer subdistricts.
For all provinces combined, the percent quarterly change decreased significantly for default treatment outcomes among tracer subdistricts (−0.031%; p < 0.001) and increased significantly for successful treatment outcomes among tracer subdistricts (0.003%; p = 0.03).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com