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PPP

Purchasing power parity (PPP) is an economic concept and measurement technique that equalizes the purchasing power of different currencies by comparing the cost of a standard basket of goods and services across countries, thereby providing a rate at which one currency would need to be converted into another to purchase equivalent volumes of goods domestically and abroad.^[1]^[2] Coined by Swedish economist Gustav Cassel in 1918 amid post-World War I currency discussions, PPP builds on earlier ideas tracing back to 16th-century observations on exchange rates and price levels, evolving into a tool for assessing real economic output and living standards rather than relying solely on volatile market exchange rates.^[3] Institutions like the International Monetary Fund and World Bank employ PPP conversions to compute adjusted gross domestic product (GDP) figures, which reveal disparities in economic welfare more accurately than nominal values—for instance, highlighting higher real incomes in developing nations when local prices are lower for non-tradable goods.^[1]^[4] The theory posits two forms: absolute PPP, where exchange rates should align identical basket prices across borders absent frictions, and relative PPP, focusing on inflation differentials driving exchange rate adjustments over time.^[5] While PPP offers stable benchmarks for cross-country comparisons and policy analysis, empirical tests often reveal deviations due to factors like transportation costs, trade barriers, and productivity differences in tradable versus non-tradable sectors, sparking ongoing debates about its long-run validity and practical refinements.^[1]^[3]

Economics and Finance

Purchasing Power Parity

Purchasing power parity (PPP) is an economic measurement that equalizes the purchasing power of different currencies by accounting for the relative prices of a comparable basket of goods and services across countries.^[5] It derives from the law of one price, which asserts that, absent transportation costs, trade barriers, or other frictions, identical goods should command the same price when expressed in a common currency across efficient markets.^[6] Absolute PPP applies this directly to price levels, implying exchange rates should reflect the ratio of national price indices, while relative PPP focuses on changes, positing that exchange rate adjustments should offset differential inflation rates between countries.^[7] The concept was formalized by Swedish economist Gustav Cassel in 1918, amid post-World War I hyperinflation and currency disruptions, as a tool to estimate equilibrium exchange rates based on relative purchasing powers rather than gold standards or fixed parities.^[8] ^[9] Cassel argued that wartime money supply expansions had altered price levels, necessitating exchange rate realignments to restore trade balances via PPP deviations. Earlier roots trace to 16th-century mercantilists like Gerard de Malynes, but Cassel's version emphasized empirical applicability for policy, influencing interwar reparations debates and League of Nations analyses.^[10] PPPs are calculated through multilateral price comparisons, primarily via the International Comparison Program (ICP) coordinated by the World Bank since 1968, which collects price data for thousands of items in household consumption, government, and capital formation categories across participating economies.^[11] Basic heading PPPs at the finest aggregation level use methods like the Jevons (geometric mean) index, made transitive via the Gini-Éltető-Köves-Szulc (GEKS) formula to ensure consistency across countries, then aggregated upward using expenditure weights from national accounts.^[12] The ICP conducts benchmarks every few years—most recently in 2021 covering 176 economies—with interim updates via bilateral extrapolations or consumer price indices.^[13] Resulting PPP conversion factors express national currencies in terms of international dollars, enabling volume comparisons stripped of price distortions. In practice, PPP underpins international economic benchmarks, such as GDP per capita in purchasing power terms, which the International Monetary Fund (IMF) uses to assess living standards and productivity beyond nominal exchange rates distorted by capital flows or speculation.^[1] As of the IMF's April 2025 World Economic Outlook projections, global GDP per capita at PPP stands at approximately 18,420 international dollars, with advanced economies averaging 73,770 and emerging markets 18,420, highlighting China's lead in total PPP GDP but trailing per capita figures behind smaller high-income nations like Luxembourg.^[14] These metrics inform poverty thresholds (e.g., World Bank's $2.15 daily line in 2017 PPP terms, adjusted for ICP updates) and resource allocation, though they assume basket representativeness across diverse consumption patterns.^[15] Despite theoretical appeal, PPP exhibits significant empirical limitations, failing to hold precisely due to non-tradable goods (e.g., housing, services comprising 60-70% of advanced economies' baskets), where Balassa-Samuelson effects drive higher prices in richer countries via productivity gaps in tradables.^[16] Transportation costs, tariffs, taxes, and monopolistic pricing introduce persistent deviations, with short-run violations common from sticky prices and barriers; even long-run tests show half-lives of 3-5 years for convergence.^[7] ^[17] Measurement challenges compound this: ICP data collection is resource-intensive, prone to quality inconsistencies in low-income settings, and baskets may underweight informal sectors or rapid shifts like digital goods.^[1] Thus, while superior for welfare comparisons, PPP overstates convergence in volatile periods and requires supplementation with nominal metrics for trade or debt analyses.^[18]

Paycheck Protection Program

The Paycheck Protection Program (PPP) was a U.S. federal initiative enacted as Title I of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, to provide forgivable loans to small businesses, nonprofits, and certain self-employed individuals to maintain payroll and operational continuity amid COVID-19 shutdowns.^[19]^[20] Administered by the Small Business Administration (SBA) through participating lenders, the program authorized up to $953 billion in funding across two phases, with initial loans calculated as 2.5 times a borrower's average monthly payroll costs over the prior year, capped at $10 million per first-draw loan and covering an eight- to 24-week covered period depending on subsequent extensions.^[19]^[21] Eligibility initially targeted businesses with fewer than 500 employees, though rules expanded to include larger entities in specific industries and second-draw loans for those with reduced revenues; loans were fully forgivable if at least 60% of proceeds funded payroll (with caps at $100,000 annualized per employee), rent, utilities, and interest on pre-existing debt, incentivizing retention of full-time equivalent staff levels from a reference period.^[22]^[23] By program close on May 31, 2021, approximately 11.5 million PPP loans totaling $793 billion had been approved, with $763 billion subsequently forgiven, representing over 96% of disbursed funds and supporting an estimated 51 million jobs at peak.^[24] Empirical analyses indicate short-term efficacy in preserving employment: one study estimated the program sustained 2.97 million jobs weekly in Q2 2020 by subsidizing payroll directly, while another found a 2-5% employment boost at eligible firms around mid-May 2020, equivalent to preventing roughly 4.5-4.8% of projected job losses based on pre-policy trends.^[25]^[26] However, effects diminished rapidly post-summer 2020 as economic reopening reduced shutdown pressures, with job preservation estimates fading to negligible levels by September amid broader recovery factors like state reopenings and fiscal multipliers from other CARES provisions.^[27] U.S. Treasury data corroborated that PPP backed over 60 million paychecks through August 2020, though counterfactual analyses suggest many supported jobs would have persisted absent the program due to uneven shutdown impacts and firm liquidity.^[28] Implementation faced logistical strains, including initial application surges overwhelming SBA systems in April 2020, leading to prioritization for small lenders serving underserved communities via $330 billion in set-aside funds under the "First PPP" tranche.^[19] Public scrutiny arose over disproportionate allocations to larger borrowers—firms with 500+ employees received about 25% of funds despite eligibility caps—and cases of prominent companies like Shake Shack and Ruth's Hospitality initially accessing loans before repaying amid backlash, highlighting gaps in real-time verification for affiliates and foreign ownership.^[24] Forgiveness processing, handled via lender reviews or SBA appeals, approved over 10.5 million applications by early 2023, but delays affected thousands of small borrowers awaiting final determinations.^[29] Fraud posed a significant vulnerability due to expedited rollout without robust pre-disbursement audits, with SBA Inspector General estimates indicating $64 billion in suspected PPP fraud—about 8% of total lending—through schemes like fabricated payrolls, shell companies, and identity theft, often linked to organized crime or ineligible applicants.^[30] Government Accountability Office reports identified common indicators such as loans exceeding verifiable payroll multiples or to businesses formed post-March 2020, contributing to over 1,000 criminal convictions by 2023; recovery efforts recouped only a fraction, underscoring causal risks from high forgiveness rates reducing repayment incentives.^[21]^[31] While the program's design prioritized speed over scrutiny to avert mass layoffs—preserving causal links between funding and payroll stability in shutdown-hit sectors—post-hoc reviews affirm that tighter eligibility and verification could have mitigated waste without undermining core job-retention goals.^[32]

Computing and Technology

Point-to-Point Protocol

The Point-to-Point Protocol (PPP) is a data link layer (Layer 2) communications protocol that establishes a direct connection between two nodes, enabling the transport of multi-protocol datagrams over point-to-point links such as serial cables or phone lines.^[33] Defined in RFC 1661, published in July 1994, PPP succeeded earlier protocols like Serial Line Internet Protocol (SLIP) by incorporating standardized framing, error detection via cyclic redundancy check (CRC), and support for dynamic IP address assignment.^[33] ^[34] It operates over various physical media, including asynchronous and synchronous serial lines, and supports protocols beyond IP, such as IPX and AppleTalk, through extensible negotiation mechanisms.^[33] PPP's architecture consists of three primary components: the Link Control Protocol (LCP) for link establishment, configuration, and termination; a family of Network Control Protocols (NCPs) for specific network-layer protocols like IPCP for IP; and the datagram encapsulation method.^[33] LCP handles link quality monitoring, authentication options (via protocols defined in RFC 1334, including Password Authentication Protocol and Challenge-Handshake Authentication Protocol), and multilink capabilities for aggregating multiple physical links.^[33] ^[35] NCPs negotiate parameters such as IP addresses and compression algorithms, ensuring compatibility between peers.^[33] The protocol frame format includes a flag sequence (0x7E) for delimiting, address and control fields (fixed at 0xFF and 0x03 for unnumbered information), a protocol field identifying the payload type, information field for data, and a 16- or 32-bit FCS for integrity.^[33] Asynchronous implementations add byte stuffing to escape special characters, preventing frame misinterpretation.^[33] Operation occurs in phases: dead (link inactive), establish (LCP negotiation), authenticate (optional credential verification), network (NCP activation for data transfer), and terminate (link shutdown).^[33] This phased approach allows graceful error recovery and option negotiation, with LCP packets using codes like Configure-Request (1) and Echo-Request (9) for monitoring.^[33] PPP supports optional features like Van Jacobson header compression (RFC 1144) for reducing overhead in low-bandwidth environments and callback mechanisms for security.^[33] Commonly deployed in dial-up modems until the early 2000s and extended via PPP over Ethernet (PPPoE, RFC 2516, February 1999) for DSL broadband, PPP remains relevant in embedded systems and VPN tunneling, though largely supplanted by Ethernet and MPLS in modern core networks.^[36] Its design emphasizes simplicity and extensibility, with over 100 RFCs defining extensions, ensuring backward compatibility while addressing evolving needs like IPv6 support (RFC 5072).^[33]

Government and Partnerships

Public-Private Partnership

A public-private partnership (PPP) is a contractual agreement between a government entity and one or more private companies to finance, design, build, operate, or maintain public infrastructure or services, with risks and rewards shared according to predefined terms.^[37] These arrangements aim to leverage private sector expertise and capital to address public sector funding constraints, particularly for large-scale projects like highways, hospitals, and energy facilities.^[38] PPPs typically span 20-30 years, involving private investment upfront in exchange for revenue streams such as user fees, availability payments, or long-term concessions.^[39] The modern framework of PPPs emerged in the 1990s amid fiscal pressures on governments, with the United Kingdom's Private Finance Initiative (PFI), launched in 1992, serving as a pioneering model that emphasized private financing to bypass public borrowing limits.^[40] By the early 2000s, PPPs proliferated globally, supported by multilateral institutions like the World Bank, which promoted them for infrastructure gaps in developing countries; between 1990 and 2020, over 2,000 PPP projects were tracked worldwide, concentrating in sectors like transport and power.^[41] Post-2015, PPPs aligned with the UN Sustainable Development Goals, shifting toward "people-first" models emphasizing accountability and sustainable outcomes, though early implementations often prioritized risk mitigation over development impacts.^[42] Proponents argue PPPs enhance efficiency through private sector incentives, such as performance-based contracts that transfer construction and operational risks to firms better equipped to manage them, potentially reducing public sector overruns—traditional public procurement averages 20-30% cost escalations due to delays.^[43] In theory, this yields value for money (VfM) via lifecycle costing, where private operators optimize maintenance to minimize long-term expenses.^[44] Successful cases include the TEXpress Lanes project in Dallas-Fort Worth, completed in 2014, which expanded highways via private tolling and generated over $2.6 billion in private investment while improving traffic flow by up to 30% during peak hours.^[45] However, empirical evaluations reveal mixed results, with many PPPs failing to deliver promised savings; a 2014 UCL study of UK PFI found no overwhelming evidence of cost reductions compared to conventional procurement, attributing premiums to higher private borrowing rates (often 2-3% above public bonds).^[46] UK audits around 2015 and a 2018 European Court of Auditors report documented cost overruns and flawed risk allocation, where governments retained hidden liabilities, leading to taxpayer bailouts in cases like hospital projects exceeding budgets by 20-50%.^[42] ^[47] A 2021 Toulouse School of Economics analysis of infrastructure PPPs confirmed little difference in costs or quality versus public methods, often due to opportunistic private bidding and inflexible contracts that hinder adaptations to demand changes.^[48] Critics highlight systemic issues, including inadequate public negotiation capacity and incentives for governments to mask debt, as seen in early PFI where off-balance-sheet accounting inflated perceived fiscal health.^[49] In developing contexts, PPP failure rates stem from weak institutions and monopolistic private markets, with post-conflict cases like Lebanon's showing breakdowns from political interference despite initial successes.^[50] Globally, PPP activity continues to grow, with U.S. market projections reaching $61.4 billion by 2032 at a 7.5% CAGR, driven by transport and social infrastructure needs.^[51] Effective PPPs require robust legal frameworks, transparent bidding, and genuine risk transfer, but causal analysis indicates success hinges on competitive markets and independent oversight rather than inherent private superiority.^[52]

Politics

Pakistan Peoples Party

The Pakistan Peoples Party (PPP) is a centre-left political party in Pakistan, established by Zulfikar Ali Bhutto on 1 December 1967 in Lahore as a response to the perceived failures of the country's ruling elite and military-dominated politics.^[53]^[54] Its founding manifesto, drafted by Bhutto and ideologues like Mubashir Hasan, centered on "Islamic socialism," advocating land reforms, nationalization of key industries, and expanded social welfare to address economic disparities, though critics later argued this rhetoric masked populist appeals for electoral gain rather than consistent ideological application.^[53]^[55] The party rapidly gained support among rural and urban working classes, positioning itself against the establishment through slogans like Roti, Kapra, Makaan (Food, Clothing, Shelter). Bhutto's PPP secured a landslide victory in the 1970 general elections, capturing 81 of 138 seats in West Pakistan, leading to his appointment as president in 1971 and prime minister in 1973 after the adoption of a new constitution.^[56] The party implemented policies such as nationalizing ten major industries in 1972 and enacting land reforms that redistributed approximately 1.3 million acres, though these measures faced implementation challenges and backlash from feudal landowners, contributing to internal party fractures and opposition mobilization.^[55] Bhutto's government was overthrown in a military coup by General Zia-ul-Haq on 5 July 1977 following disputed elections, with Bhutto executed on 4 April 1979 on charges of authorizing murder, a verdict upheld by Pakistan's Supreme Court but widely contested as politically motivated by PPP supporters.^[56] Under Benazir Bhutto, Zulfikar's daughter, the PPP returned to power in the 1988 elections, making her Pakistan's first female prime minister on 2 December 1988; her government lasted until dismissal in 1990 amid corruption allegations.^[56] She regained office in 1993 but was removed again in 1996, with her husband Asif Ali Zardari imprisoned on graft charges during much of the 1990s. Following Benazir's assassination on 27 December 2007, the PPP won the 2008 elections, forming a coalition government and electing Zardari as president on 9 September 2008, during which the 18th Amendment devolved powers to provinces in 2010.^[56] The party has since maintained a stronghold in Sindh province, winning 54 National Assembly seats there in the 2018 elections, but struggled nationally, securing only 43 seats in 2013 and relying on alliances.^[57] In the 8 February 2024 elections, marred by allegations of rigging and PTI suppressions, the PPP emerged as the largest party in the National Assembly with 54 directly elected seats, enabling a coalition with PML-N that installed Shehbaz Sharif as prime minister and re-elected Zardari as president on 9 March 2024 with 411 of 728 electoral college votes.^[58]^[59] Current co-chair Bilawal Bhutto Zardari, Benazir's son, leads party operations, emphasizing anti-establishment rhetoric while navigating feudal influences in its Sindh base, where it has governed uninterrupted since 2008.^[59] The PPP has faced persistent corruption allegations, particularly against its leadership; Swiss authorities in 1998 transferred documents to Pakistan implicating Benazir Bhutto and Zardari in kickbacks from contracts worth millions, leading to convictions abroad that were later appealed or quashed on procedural grounds.^[60] Zardari earned the moniker "Mr. Ten Percent" for reputedly demanding commissions on deals during PPP governments, with Transparency International's Corruption Perceptions Index ranking Pakistan 140th out of 180 in 2009 amid scandals like the fake Swiss accounts probe.^[59] In Sindh, under PPP rule since 2008, critics highlight entrenched graft in public procurement and recruitment, exemplified by 2025 party accusations against rivals mirroring its own historical issues, though PPP attributes many charges to political vendettas by military and judicial actors.^[61]^[60] These scandals have eroded national support, confining the party's influence largely to Sindh's rural and feudal networks, despite its historical role in resisting military dictatorships.

Arts and Entertainment

Pianississimo

Pianississimo, abbreviated as ppp in musical notation, is an Italian term directing performers to play or sing very, very softly, representing an extreme level of quiet intensity softer than pianissimo (pp).^[62]^[63] This marking indicates a dynamic level approaching the threshold of audibility, often requiring delicate control to maintain tone without silence.^[64] The term derives from the Italian adjective piano ("soft"), intensified by the superlative suffix -issimo, which denotes "extremely" or "to the utmost degree," as seen in related dynamics like fortississimo (fff).^[65]^[66] In scores, pianississimo appears as three lowercase ps, distinguishing it from pp (very soft) and rarer extensions like pppp (even softer).^[67] These gradations form part of a relative scale of dynamics, not fixed decibel measurements, allowing interpretive flexibility based on context, ensemble size, and venue acoustics.^[66] Historically, basic dynamic indications like piano and forte emerged in the early 18th century with the development of the pianoforte, enabling expressive volume contrasts absent in earlier harpsichord or organ music.^[68] More nuanced markings, including pianissimo and eventually pianississimo, proliferated in the Classical and Romantic eras as composers like Beethoven and Mahler exploited orchestral capabilities for subtle shading, though ppp remained uncommon until the 19th century to evoke ethereal or haunting effects.^[66] In performance, achieving pianississimo demands precise technique: string players use minimal bow pressure and placement near the bridge; wind instrumentalists control breath support to avoid multiphonics or silence; vocalists employ head voice or falsetto with reduced resonance.^[62] Interpretation varies; some conductors view ppp as a baseline for further crescendi, while others treat it as absolute quiet, risking imbalance in large ensembles.^[69] Modern recordings often amplify these passages for clarity, diverging from historical acoustics where natural decay enhanced their impact.^[66]

References

[1]
Purchasing Power Parity: Weights Matter
The rate at which the currency of one country would have to be converted into that of another country to buy the same amount of goods and services in each ...
[2]
[PDF] Purchasing Power Parities - The World Bank
PPPs measure the total amount of goods and services that a single unit of a country's currency can buy in another country.
[3]
[PDF] Purchasing Power Parity and the Real Exchange Rate
Although the term “purchasing power parity” was coined as recently as 80 years ago (Cassel, 1918), it has a much longer history in economics.1 While very few ...
[4]
Purchasing power parities (PPPs): a new overview of available ...
Oct 12, 2023 · The primary use of PPPs is to convert volume and per capita measures of GDP and its expenditure components into a common currency, while also ...
[5]
Purchasing power parities (PPP) - OECD
Purchasing power parities (PPPs) are the rates of currency conversion that try to equalise the purchasing power of different currencies, by eliminating the ...
[6]
Explaining Purchasing Power Parity and the Law of One Price
Jan 8, 2025 · The law of one price (LOP) says that identical goods should have the same price (after adjusting for exchange rates) in any market, so long as there are no ...
[7]
What Is Purchasing Power Parity (PPP), and How Is It Calculated?
Purchasing power parity (PPP) is a macroeconomic tool that compares the buying power of different countries' currencies using a common “basket of goods.” It ...What Is Purchasing Power... · Calculation · Pairing PPP and GDP
[8]
Gustav Cassel - Econlib
1866-1945. POST: Gustav Cassel, a Swedish economist, developed the theory of exchange rates known as purchasing power parity in a series of post-World War I ...
[9]
[PDF] The Purchasing-Power-Parity Theory of Exchange Rates
ORIGINS OF THE PURCHASING-POWER-PARITY THEORY The term "purchasing power parity" was originated by Cassel (1918, p. 413), but he presented his PPP theory ...
[10]
Exchange rates and prices: The historical evidence - ScienceDirect
The paper briefly surveys the historical evolution of the purchasing power parity theory (PPP) as it was developed, beginning with Gerard de Malynes in 1601 ...<|separator|>
[11]
International Comparison Program (ICP) - Methodology - World Bank
Two basic methods are used in the ICP to calculate basic-heading PPPs. The first approach is based on the Jevons index made transitive by the Gini-Éltető-Köves ...
[12]
PPP Calculation and Estimation - World Bank
Jan 30, 2017 · Two basic methods are used in the ICP to calculate basic-heading PPPs. The first approach is based on the Jevons index made transitive by ...
[13]
How do you extrapolate the PPP conversion factors estimated by the ...
The International Comparison Program (ICP) provides PPP conversion factors for the three most recent ICP benchmark years (2011, 2017 and 2021) and years in ...Missing: Purchasing Power Parity calculation<|separator|>
[14]
GDP per capita, current prices - International Monetary Fund (IMF)
Purchasing power parity; international dollars per capita · Emerging market and developing economies. 18.42 thousand · Advanced economies. 73.77 thousand · World.GDP per capita, current pricesPurchasing power parity
[15]
PPPs for policy making: a visual guide to using data from the ICP
Purchasing power parities (PPPs) are primarily used to convert economies' national accounts expenditures on GDP and its components into a common currency.
[16]
[PDF] Long Run Purchasing Power Parity: Cassel or Balassa-Samuelson?
Purchasing Power Parity (PPP) is one of the oldest and most studied topics in international economics. As articulated by Cassel (1918), the absolute version of ...
[17]
Trading Frictions and Deviations from Purchasing Power Parity
This paper builds on the argument that frictions in international markets for goods limit the opportunity to exercise arbitrage.
[18]
6.4 Problems and Extensions of PPP
Problems with the PPP Theory. The main problem with the purchasing power parity (PPP) theory is that the PPP condition is rarely satisfied within a country.
[19]
Paycheck Protection Program | U.S. Small Business Administration
Paycheck Protection Program · Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.PPP loan forgiveness · PPP data · First Draw PPP loan · PPP lender information
[20]
Paycheck Protection Program: Overview & FAQs - Thomson Reuters
Jan 5, 2024 · PPP is part of the CARES Act to help small businesses by providing forgivable federally guaranteed loans to maintain their payroll during ...
[21]
[PDF] GAO-23-105331, COVID RELIEF: Fraud Schemes and Indicators in ...
May 18, 2023 · Estimated first draw Paycheck Protection Program loan = 2.5 x [Total estimated payroll costs] + [COVID-19 Economic Injury Disaster Loan].
[22]
PPP loan forgiveness | U.S. Small Business Administration
Oct 3, 2024 · All borrowers, regardless of loan size, can use SBA's direct forgiveness portal. Applying for forgiveness using the portal can take as little as 15 minutes.SBA form 3508S · SBA PPP Direct Forgiveness · SBA Form 3508
[23]
[PDF] The CARES Act created a new SBA loan program to cover payroll ...
The loan can be used to cover up to 8 weeks of payroll and any new Economic Injury. Disaster Loan balances under $10 million. • Eligible applicants will apply ...
[24]
Tracking PPP: Search Every Company Approved for Federal Loans
Tracking PPP ; 11.5M · Loans Approved ; 968,524. Organizations approved for loans between $150,000 and $10 million ; $793B · Amount Approved ; $763B · Amount Forgiven.Trucking · Television · Hospice · 90210
[25]
https://www.stlouisfed.org/publications/regional-economist/2022/jul/was-paycheck-protection-program-effective
[26]
An evaluation of the Paycheck Protection Program using ...
About 5.2 million PPP loans were approved in 2020 worth around $525 billion, which is about equal to 10 weeks of total payroll (the maximum permitted loan ...
[27]
[PDF] utta et al. NBER WORKING PAPER SERIES THE $800 BILLION ...
It disappeared altogether by September of 2020. Our formal econometric analysis of the employment effects of the Paycheck Protection Program in Autor et al. ( ...
[28]
[PDF] The Job-Preservation Effects of Paycheck Protection Program Loans
Sep 17, 2024 · The Paycheck Protection Program (PPP) supported over 60 million jobs through August 2020. How many of those jobs would have otherwise been lost?
[29]
Update: 10.5 million PPP loans were forgiven. Here's why.
Feb 13, 2025 · More than 11.5 million Paycheck Protection Program (PPP) loans were issued as of October 2, 2022, with 649 borrowers receiving the maximum ...
[30]
How the FBI is Combating COVID-19 Related Fraud
Jan 12, 2024 · The U.S. Small Business Administration inspector general estimates $136 billion in fraud from the EIDL and $64 billion in fraud from the PPP.Missing: forgiven | Show results with:forgiven
[31]
Majority of Paycheck Protection Program loans have been forgiven ...
Jan 9, 2023 · ... estimated that at least 70,000 loans are potentially fraudulent. An ... estimates ranging from as few as 1.5 million to as many as 18.6 million.
[32]
"Funding Crises: An Empirical Study of the Paycheck Protection ...
Other studies present mixed findings on whether the PPP successfully protected paychecks. The PPP's greatest weakness was its failure to reach businesses unable ...
[33]
RFC 1661 - The Point-to-Point Protocol (PPP) - IETF Datatracker
The Point-to-Point Protocol (PPP) provides a standard method for transporting multi-protocol datagrams over point-to-point links.
[34]
RFC 1134 - Point-to-Point Protocol: A proposal for multi-protocol ...
Mar 2, 2013 · The Point-to-Point Protocol (PPP) provides a method for transmitting datagrams over serial point-to-point links.
[35]
RFC 1334 - PPP Authentication Protocols - IETF Datatracker
This document defines two protocols for Authentication: the Password Authentication Protocol and the Challenge-Handshake Authentication Protocol.<|control11|><|separator|>
[36]
RFC 2516 - A Method for Transmitting PPP Over Ethernet (PPPoE)
Abstract The Point-to-Point Protocol (PPP) [1] provides a standard method for transporting multi-protocol datagrams over point-to-point links. This document ...
[37]
Understanding Public-Private Partnerships: How They Work and ...
A public-private partnership (PPP) is a collaboration between a government agency and a private-sector company to finance, build, and operate public ...
[38]
[PDF] Chapter 1 Introduction to Public-Private Partnerships
Highlights. ❖ Public-private partnerships (PPPs), if implemented well, can help overcome inadequate infrastructure that constrains economic growth, ...Missing: criticisms | Show results with:criticisms
[39]
A smarter way to think about public–private partnerships | McKinsey
Sep 10, 2021 · Public–private partnerships (PPPs) have become an increasingly popular way to get major infrastructure projects built.
[40]
[PDF] PFI: meeting the investment challenge - World Bank PPP
1.1. This document explains the PFI programme's small but important role in the delivery of the Government's investment plans for public services.
[41]
Data | Public Private Partnership - World Bank PPP
This section provides a wide array of legal reference materials, PPP tools and insightful articles on public-private partnership and Infrastructure.
[42]
A short history of PPPs for development: the good, the bad, and the ...
Sep 8, 2022 · Public-private partnerships (PPPs) have undergone an important shift in recent years: from being understood as a risk mitigation exercise for the public and ...Missing: definition | Show results with:definition
[43]
Public-Private Partnerships: The Good, Bad and Ugly
Apr 28, 2014 · A public-private partnership involves an arrangement between a federal, state or local government and private-sector entities.
[44]
[PDF] Public-Private Partnerships and State and Local Economic ...
In our two economic development categories, the potential advantages of partnership include increasing the return from underutilized public assets (including ...Missing: criticisms | Show results with:criticisms
[45]
Public-Private Partnerships: A Model for America's Infrastructure
Sep 20, 2024 · One of the most successful examples of P3s in action is TEXpress Lanes in Dallas-Fort Worth—a project that has transformed the region's mobility ...
[46]
An empirical approach to PFI | Research Impact - UCL
Dec 12, 2014 · In further work in 1998, Dr Edkins and his colleague Graham Ive found there was no overwhelming evidence of cost saving from the use of PFI, and ...
[47]
https://www.eca.europa.eu/Lists/ECADocuments/INSR18_09/INSR_PPP_EN.pdf
[48]
[PDF] “The Impact of Public-Private Partnerships (PPPs) in Infrastructure ...
Sep 14, 2021 · In practice, there is little evidence for this. Early studies mostly fail to find meaningful differences in cost and quality between PFI and ...
[49]
[PDF] Review of the VFM assessment process for PFI - National Audit Office
The VFM quantitative tool did not answer what we believe is the key question, namely, whether the benefits of private finance outweigh the additional cost of ...<|separator|>
[50]
Success and Failure Mechanisms of Public Private Partnerships ...
Aug 6, 2025 · very few PPP failures have been openly reported in the literature. Research methodology. An in-depth investigation of one post-war PPP ...
[51]
U.S. Public-Private Partnership Market Size, and Growth Report, 2032
The U.S. public-private partnership market will grow from USD 34.8 billion in 2024 to USD 61.4 billion by 2032, at a CAGR of 7.5% during 2025-2032.Missing: global | Show results with:global<|control11|><|separator|>
[52]
The Problem of Success and Failure in Public-private Innovation ...
Mar 19, 2021 · For example, a programme may fail to achieve desired outcomes whilst simultaneously proving successful in enhancing leaders' reputations. Table ...Missing: rates | Show results with:rates
[53]
[PDF] Ideological Orientation of Pakistan People's Party - Punjab University
Pakistan People‟s Party was founded by Zulfikar Ali Bhutto on December 1,. 1967 at Lahore. Bhutto was accompanied by stalwart ideologues like Mubashir. Hasan ...
[54]
Pakistan Peoples Party - DAWN.COM
Jan 18, 2024 · The Pakistan Peoples Party (PPP) was founded by the late Zulfiqar Ali Bhutto in 1967, with an aim to implement the ideology of what he called Islamic socialism.
[55]
Pakistan People's Party: A Historical Analysis of Ideological Debates ...
Apr 30, 2024 · ... ideology of the Pakistan People's Party (PPP) ... was a populist leader who exploited socialist rhetoric for personal and party gains.
[56]
About PPP - RCC Bilawal House Karachi
From 1967 to 2018, PPP has held on firmly to our values, and the principles laid down by Quaid-e-Awam Zulfikar Ali Bhutto when he founded the Party.
[57]
The Peculiar Case of the Pakistan Peoples Party as an Opposition ...
Mar 7, 2022 · The PPP has been an important player in the ongoing opposition to the PTI government. Since the 2018 general elections, the party has resisted ...
[58]
What to know about Pakistan's turbulent national elections | Brookings
Feb 6, 2024 · This week, Pakistan holds national elections. Voters in the world's fifth most populous nation go to the polls to elect representatives to Pakistan's ...<|separator|>
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Villain to some, hero to others: Asif Ali Zardari returns as Pakistan ...
Apr 1, 2024 · Many have alleged that under Zardari's PPP government, corruption became so deeply entrenched in Sindh that nothing took place without money ...
[60]
The Fall of PPP Governments in the 1990s: Political Rivalries and ...
May 10, 2025 · The research demonstrates how corruption scandals significantly damaged PPP government credibility yet such allegations served multiple ...
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Peoples Party alleges massive corruption in KP - Newspaper - Dawn
Mar 6, 2025 · The PPP leader alleged that corruption was common in wheat procurement and recruitment in different public departments. He resented the “poor” ...
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PIANISSISSIMO definition | Cambridge English Dictionary
in an extremely quiet way: used in written music to show how a piece, or part of a piece, should be performed: The last four bars are marked pianississimo.Missing: history | Show results with:history
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https://www.m5music.hk/en/dictionary/pianississimo/
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pianississimo - OnMusic Dictionary - Term
Jun 6, 2016 · A directive to perform the indicated passage of a composition very softly, even softer than pianissimo (pp), but not as soft as pianissississimo (pppp).Missing: history usage
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Other Aspects of Notation – Open Music Theory - VIVA's Pressbooks
The Italian suffix -issimo means “very” or “extremely.” Musicians say pianissimo to mean “very quiet” and fortissimo to mean “very loud.” This suffix can be ...
[66]
Guide to Dynamics in Music: How to Notate Changes in Volume - 2025
Jun 7, 2021 · From softest to loudest, they are: ppp: abbreviation of pianississimo meaning "very, very soft" pp: abbreviation of pianissimo meaning "very ...
[67]
PIANISSISSIMO definition in American English - Collins Dictionary
Music (to be performed) even more quietly or softly than pianissimo Symbol: ppp.... Click for pronunciations, examples sentences, video.Missing: history | Show results with:history
[68]
The ABCs Of Music: All You Need To Know About Dynamic Markings
Feb 20, 2024 · Composers used Italian words like “piano” (soft) and “forte” (loud) to convey the desired intensity. However, these indications were often more ...
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https://www.m5music.hk/en/musical-term/dynamic-marking-en/