is hardly likely to have distorted the results, as this
denomination is not likely to be used much in non-euro-area countries. The approach had to
be modified when applied to individual denominations [...]
sales (EHI Retail Institute 2010). The huge surge is therefore likely to be due to domestic
hoarding and especially to foreign demand for euro banknotes. This foreign demand may
originate from [...] affected by this is likely to be fairly limited in relation to the total value of banknotes circulating
outside Germany.
page
6
(net) banknote shipments from Germany to non-euro-area countries
is hardly likely to have distorted the results, as this
denomination is not likely to be used much in non-euro-area countries. The approach had to
be modified when applied to individual denominations [...]
sales (EHI Retail Institute 2010). The huge surge is therefore likely to be due to domestic
hoarding and especially to foreign demand for euro banknotes. This foreign demand may
originate from [...] affected by this is likely to be fairly limited in relation to the total value of banknotes circulating
outside Germany.
page
6
(net) banknote shipments from Germany to non-euro-area countries
is hardly likely to have distorted the results, as this
denomination is not likely to be used much in non-euro-area countries. The approach had to
be modified when applied to individual denominations [...]
sales (EHI Retail Institute 2010). The huge surge is therefore likely to be due to domestic
hoarding and especially to foreign demand for euro banknotes. This foreign demand may
originate from [...] affected by this is likely to be fairly limited in relation to the total value of banknotes circulating
outside Germany.
page
6
(net) banknote shipments from Germany to non-euro-area countries
Qualitätsverbesserung der Lehre ein.
Lehre-Meeting
Am 06.04.2016 fand unter Moderation des Studiendekans Prof.
Dipl.-Des. Martin Frey das jährliche „Lehre-Meeting“ statt, in dem
der aktuelle Stand [...] ischen Austauschprojektes
„Meet Up: Flucht und Heimat“
• Neuplanung des Zusatzangebots ab 2017
• Antragsstellung für verschiedene Förderprogramme
(Meet Up, INTERREG, DAAD-Ostpartnerschaft [...] bietet
Möglichkeiten zur Implementierung von PRME, schafft Verbin-
dungen zu Service-Learning-Projekten wie Flüchtlinge@OTH so-
wie die Erweiterung von weiteren studienbegleitenden Angebo-
there were
fears that the re-setting of computer program dates in order to adjust for the new millennium
would have led to a shutdown of important institutions like public utilities, but also the [...] in October 2008, the resulting financial turmoil in the US
quickly scaled up to a global financial crisis and led to a visible increase in cash demand
worldwide (see figure 1). However, this increase [...] Data refer to cash or banknotes in circulation.
Source: National central banks.
Obviously, there was a structural difference between the financial crisis 2008 and Y2K with
respect to cash demand
growth data allows the central bank to reduce its response to cur-
rent inflation, thus enabling it to avoid inefficient reactions to cost push
shocks. According to Kilponen and Leitemo (2007), the case [...] function. According to their analysis,
the Bundesbank did not respond to the level of the output gap as sug-
gested by the Taylor rule, but rather to the change in the output gap as
well as to deviations of [...] feature a response to the lagged interest rate, to deviations of inflation
from target, to the change in the output gap and possibly, but not neces-
sarily, an additional response to short-run movements
Fakultäts-Meetings zu Lehre und FuE
Zu den beiden zentralen Tätigkeitsfeldern „Lehre“ und „Ange-
wandte Forschung“ wird die Fakultät künftig jeweils mindes-
tens einmal im Jahr spezifische Meetings abhalten [...] Lepke:
• Auto.E-Motion Conference und MotorBrain Project Meeting, ams
AG, Unterpremstätten, Österreich, 27.09.2011
• MotorBrain Consortium Meeting bei CRF (Centro Ricerche Fiat),
Orbassano/Turin [...] Seville 2012 und MotorBrain Project Meeting,
Engineering School of the University of Seville, 30.09.2011 und
01.02.2012
• MotorBrain First Review Meeting, Infineon München, 11. -
12.09.2012
or posting to personal, institutional or third party
websites are prohibited.
In most cases authors are permitted to post their version of the
article (e.g. in Word or Tex form) to their personal [...]
As mentioned in Section 3.2 we had to restrict our estimation
sample to firms which have answered at least six consecutive years.
Since this restriction leads to a larger share of large firms in the [...] coefficients are stable and very similar to Specification
(6). Thus, we use this model without contemporaneous innovation
variables to include further interaction terms to check for some effect
heterogeneity
Bernt Mayer
24 A Micro Data Approach to the Identification of Credit Crunches
von Timo Wollmershäuser und Horst Rottmann
25 Strategies and possible directions to improve Technology
Scouting in [...] crises more and more economists
argued in favour of a monetary policy which should pay more attention to monetary
variables as early warning indicators of financial market imbalances. The present
paper [...] Frankfurt,
EZB.
Scharnagl, M., C. Gerberding & F. Seitz (2010), Should Monetary Policy Respond to
Money Growth? New Results for the Euro Area, International Finance, 13, 409-441.
page
Bernt Mayer
24 A Micro Data Approach to the Identification of Credit Crunches
von Timo Wollmershäuser und Horst Rottmann
25 Strategies and possible directions to improve Technology
Scouting in [...] crises more and more economists
argued in favour of a monetary policy which should pay more attention to monetary
variables as early warning indicators of financial market imbalances. The present
paper [...] Frankfurt,
EZB.
Scharnagl, M., C. Gerberding & F. Seitz (2010), Should Monetary Policy Respond to
Money Growth? New Results for the Euro Area, International Finance, 13, 409-441.
page
Bernt Mayer
24 A Micro Data Approach to the Identification of Credit Crunches
von Timo Wollmershäuser und Horst Rottmann
25 Strategies and possible directions to improve Technology
Scouting in [...] crises more and more economists
argued in favour of a monetary policy which should pay more attention to monetary
variables as early warning indicators of financial market imbalances. The present
paper [...] Frankfurt,
EZB.
Scharnagl, M., C. Gerberding & F. Seitz (2010), Should Monetary Policy Respond to
Money Growth? New Results for the Euro Area, International Finance, 13, 409-441.
page
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La [...] Electrolytes Based on BMPl-
TFSI with Graphite Anodes for Li-Ion Batteries, Poster Session, 216th Meeting of the Electrochemical Society
(ECS), 4.-9. Oct. 2009, Vienna, Austria.
page
P.
G et al. A Survey on Deep Learning in Medi-
cal Image Analysis. Medical Image Analysis 2017;
42: 1-38.
2. Zhang Z & Sejdic E. Radiological images and ma-
chine learning: trends, perspectives, and [...] 2016 (43): 53-73.
12. Reto Caluori. From nose to knee, Online:
https://www.unibas.ch/en/Research/Uni-
Nova/Uni-Nova-129/Uni-Nova-129-From-nose-to-
knee.html. [1.6.2019].
13. Cucchiarini M & Madry [...] Sesselmann S et al. Reliabilität der axialen Kompo-
nenten-Ausrichtung in der 3D-Planung von Knie-To-
talendoprothesen, Online: http://www.hec-
tec.de/downloads/pdf/mediCAD_Knee_Pos-
ter_Dr_Sesselmann
the employed insiders are to a certain degree protected against dismissals the
trade unions may be induced to demand higher wages. Both channels lead to higher wage
costs and to lower employment and a higher [...] qualifications to this statement will be discussed
below). Higher contributions to the social security system by employees or higher taxes on
labour income may induce trade unions to demand higher wages [...] and of a higher degree of employment protection all lead to
a higher equilibrium real wage rate and to a higher unemployment rate. With respect to the
coordination/centralization indicator, the effect
are the first to use net
issues of cash of all national euro area central banks to analyze the relationship between cash
demand and the shadow economy within a currency union. Up to now, these net [...] estimation methods. To assess the relationship between cash and the shadow
economy, it was necessary to control for other motives for holding cash and national
peculiarities. To test for robustness [...] shadow economy is a construct which by definition
is hard to capture and to estimate. All in all, it seems that cash is probably used to a smaller
extent in the context of shadow economic activities
account for the problem that arises in data due to
German reunification. All data up to 1990 refer to former West Germany; all data since 1991 refer to
Germany. We also tested several other lengths of [...] period. Due to the estimation strategy of calculating growth rates, we need
for each firm at least two observations within one period to be able to calculate a growth
rate. This leads to an unbalanced [...] This increasing demand leads to an increase in employment in the
innovating firm. But the innovation can also lead to a (temporary) monopoly of the firm
or at least to a very high market share of
robustness with respect to two commonly used alternative
GARCH models. This means that we add the term κht (or κh0.5
t or κln(ht)) to the mean equation (1) to
convert the model to a design of the GARCH-M [...] model in two ways. First, in order to capture serial correlation in stock returns, we
follow Bhattacharya et al. (2003) and add lagged returns to the mean equation. Second, to test for Friday
effects in the [...] model, it is additionally
related to two seasonal dummies.
In order to determine the size ofm, p and q for each country, we employ a model selection procedure similar
to Bollerslev (1988) and Choudhry
robustness with respect to two commonly used alternative
GARCH models. This means that we add the term κht (or κh0.5
t or κln(ht)) to the mean equation (1) to
convert the model to a design of the GARCH-M [...] model in two ways. First, in order to capture serial correlation in stock returns, we
follow Bhattacharya et al. (2003) and add lagged returns to the mean equation. Second, to test for Friday
effects in the [...] model, it is additionally
related to two seasonal dummies.
In order to determine the size ofm, p and q for each country, we employ a model selection procedure similar
to Bollerslev (1988) and Choudhry
although the latter to a lesser extent.
In what follows, our aim is to use model-based techniques and judgmental approaches to
detect these alternative episodes, and thereafter to estimate probabilities [...] compared to Kilian’s index of global
economic activity and the index of OECD world industrial production. Stratford (2013) uses
linear models to investigate several global indicators' ability to nowcast [...] rates in the advanced
economies declined to a lesser extent compared to the emerging world in the Great
Recession. In the former, growth rates declined to around -5%, while they did not turn into
although the latter to a lesser extent.
In what follows, our aim is to use model-based techniques and judgmental approaches to
detect these alternative episodes, and thereafter to estimate probabilities [...] compared to Kilian’s index of global
economic activity and the index of OECD world industrial production. Stratford (2013) uses
linear models to investigate several global indicators' ability to nowcast [...] rates in the advanced
economies declined to a lesser extent compared to the emerging world in the Great
Recession. In the former, growth rates declined to around -5%, while they did not turn into
loss in consumption possibilities due to negative interest rates on cash. The
consumer has to be compensated in terms of goods to the extent of CV in order to reach the
original level of utility [...] welfare loss reduces from €bn 24
to €bn 14, whereas at σ=2 it increases to €bn 36.
If the preference parameter (α) is lowered from 0.75% to 0.50% or raised to 1.0%, the welfare
losses are €bn [...] deadweight loss (DWL) amounts to €bn 62 per year, corresponding to 0.59% of GDP or € 183
per capita.
For Germany the welfare loss (CV) with respect to M3 amounts to €bn 59 which equals 3.6%
Riksbank that are considered
to be of interest to a wider public.
The papers are to be regarded as reports on ongoing studies
and the authors will be pleased to receive comments.
The opinions [...] will therefore
have to use some proxies.
While there are reasonable proxies for the seasonal factor of the transaction balance (to be
explained below), it is harder to find and argue for hoarding [...] misleading as cash holdings usually increase with
nominal GDP. Thus, to do a sensible international comparison we need to relate CiC to nominal
GDP. This ratio is shown in Figure 2. We can distinguish
comprise high-value denominations, from Germany to
these countries. As euro cash taken abroad for exchange to foreign currency is conceptually to
be assigned to transaction balances and thus probably chiefly [...] denominations up to €100 is likely to take place
largely via foreign travel (intra and extra euro area), whereas the €200 and €500 banknotes are
likely to be shipped en masse to non-euro-area countries [...] cumulated net shipments (€104 billion) are likely to have been to Russia (€45 billion) and that
these banknotes are likely to be kept there due to their store-of-value function or for activities
expect the two regimes to
correspond to the normal and ‘inverted’ yield
curve, and for the bank–public spread to the
normal and ‘widened’ spread. The observed
spread series Y is assumed to be drawn fromFig. [...] may be due
to the differential response of the Bundesbank
to under- and overshootings of its monetary
target, raising rates in response to an overshoot-
ing but not lowering them in response to
overshooting [...] for Germany, so we adopt a methodology
similar to that in Artis et al. (1995) to identify
7 inflation cycle turning points. We assume thatAccording to Von Hagen (1999), the call rate has been the
troughs
strategy to force their employees to leave
the firm under strict EPL (Wasmer, 2006, and Boeris and van Ours, 2008). Agents with
limited horizons could cling to non-satisfying jobs to avoid the [...] appropriate to analyze the determinants of suicide rates for both
genders separately and to try to identify the determinants of the cross-country distribution of
suicide rates or to use cross-section [...] of observations decreases to approximately
50% of the benchmark sample (table 3 and 4). The results are robust to these alternative
definitions of our data, as well as to the sample adjustments.