The people involved in this context have some rank understand on some level, whether implicit or explicit.
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Implicit or explicit employment agreements also introduce rigidity into the economy.
The other, cleaner, approach would be to privatise them, so that the markets are left in no doubt that their debt carries no government guarantee, implicit or explicit.
It's a different job with every company, to figure out how to manage content and if it meets community standards--is it a violation or contradiction to explicit or implicit laws or unwritten community standards?
No market risk and the implicit (or even explicit) state guarantee: Pay a fixed amount now, and when Junior goes to a state college, his tuition is covered.
Beijing provided seed money for projects, and municipal officials would extend explicit or implicit guarantees to raise the funds to complete them.
But champions of the emerging markets note that some issuers have explicit or implicit government support and that the biggest private-sector borrowers, including multinationals such as Mexico's Cemex, a cement company, have geographically diverse revenues.
And taxpayers, whether explicit owners or implicit guarantors, will peer at the industry and its leaders with hostility, not admiration.
In America, Britain and Germany ten-year bond yields under 2% are now lower than the explicit (or implicit) inflation targets of their central banks.
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There was none of the pressure, implicit from teachers and explicit from classmates, to leap, climb or hurl projectiles.
Changes should "make explicit what is now implicit -- that foreign companies and individuals who manufacture or distribute drugs and drug components for use in the United States" are subject to the law, known as the Food, Drug and Cosmetic Act, Maher said.
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The argument that taxpayer money is needed to save or create jobs in America was the implicit purpose of TARP (Troubled Asset Relief Program) and the explicit purpose of the auto company bailouts.
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