BLANCHARD, O. / MILESI-FERRETTI, G. M. (2009): Global Imbalances, International Monetary Fund
(IMF) Staff Position Note, No. 09/29, Washington D.C.
CARDARELLI, R. / ELEKDAG, S. / KOSE, M. A. (2009): Capital [...] of banking crises in developing
and developed countries, in: International Monetary Fund (IMF) Staff Papers, Vol. 45, S. 81-
109.
DORNBUSCH, R. (1988): Der Weg zur internationalen Währungsstabilität [...] REINHARDT, D. B.
S. (2010): Capital inflows: The role of controls, International Monetary Fund (IMF) Staff Posi-
tion Note, 10/04, Washington D.C.
PATNAIK, I. / SHAH A. (2010): Asia confronts the impossible
foreign ‘official’ purchases of US Tre-
asuries alone seem to have played little or no role. Long-
staff (2004), in contrast, argues that if US investors, who
presumably may benefit more from the highly
Scouting is defined as a systematic approach by companies whereby they
assign part of their staff or employ external consultants to gather information in the field
of Science and Technology and
Scouting is defined as a systematic approach by companies whereby they
assign part of their staff or employ external consultants to gather information in the field
of Science and Technology and
authors’ personal opinions and do not necessarily reflect the views of the
Deutsche Bundesbank or its staff.
page
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Thilo Liebig
Karl-Heinz Tödter
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authors’ personal opinions and do not necessarily reflect the views of the
Deutsche Bundesbank or its staff.
page
Editorial Board: Heinz Herrmann
Thilo Liebig
Karl-Heinz Tödter
authors’ personal opinions and do not necessarily reflect the views of the
Deutsche Bundesbank or its staff.
page
Editorial Board: Heinz Herrmann
Thilo Liebig
Karl-Heinz Tödter [...] *,
111
* ''1 (10)
with 021 ≥> λλ . A positive value of λ2 would either indicate that the staff made
systematic mistakes in estimating the long-run relationships or that, despite the
medium-term [...] differ from those contained in real-time data sets (which are
usually based on published data and staff estimates).
As the outcome of this debate is still open, our approach is to use ex post data
(1994), Money Demand, Bank Credit, and Eco-
nomic Performance in Former Socialist Economies, IMF Staff Papers, Vol. 41, S. 3 14-349
Champ, Bruce, Freeman, Scott (1 994), Modeling Monetary Economies [...]
El-Erian, Mohamed (1988), Currency Substitution in Egypt and the Yemen Arab Republic,
IMF Staff Papers, Vol. 35, S. 85- 103
Engle, Robert, Granger, Clive (1987), Cointegration and Error Correction: [...] Rodriguez, Carlos A. (1992), Dollarization in Latin America - Gresham's
Law in Reverse?, IMF Staff Papers, Vol. 39, S. 5 18-544
Ha, Jiming (1994), Estimating Rand Circulation in Swaziland, Int
possible
to reconstruct the Council’s collective quantitative assessment of the economic outlook.
Staff forecasts of inflation and output do exist, but their semi-annual frequency and varying
time horizons [...] gap, we know that data on industrial production and other monthly indicators
allow the Bundesbank staff to roughly estimate GDP some weeks before the first official
number is published. In contrast, the
aftliches Studium, 33. Jg. (2004),
S. 574–581.
Europäische Zentralbank, A Guide to Eurosystem Staff Macro-
economic Projection Exercises, Frankfurt am Main, June 2001.
Herwartz, H., H.-E. Reimers
authors’ personal opinions and do not necessarily reflect the views of the
Deutsche Bundesbank or its staff.
page
Editorial Board: Heinz Herrmann
Thilo Liebig
Karl-Heinz Tödter
Deutsche Bundesbank [...] possible to reconstruct the Council’s collective quantitative assessment of the
economic outlook. Staff forecasts of inflation and output do exist, but their bi-annual
frequency and varying time horizon [...] there
is no data source comparable to the Greenbook produced by the Federal Reserve
Board’s staff). Therefore, the best we can do is to reconstruct the data set which was
available to policy makers
Guidotti, P.E., Rodriguez, C.A. (1992), Dollarization in Latin America - Gresham's Law in
Reverse?, IMF Staff Papers, 39, pp. 518-544.
Gutman, P. (1977), The Subterranean Economy, Financial Analysts Journal [...] erve.gov).
Lane, T.D. (1992), Household Demand for Money in Poland - Theory and Evidence, IMF Staff
Papers, 39, pp. 825-854.
85
ECB
Work ing Paper Ser ie s No . 330
April 2004
page
ve.gov).
Lane, T. D. (1992) Household Demand for Money in Poland – Theory and Evi-
dence, IMF Staff Papers, 39, pp. 825–854.
Markose, S., Loke, Y. (2003) Network Effects on Cash-card Substitution
helpful
discussions.This paper was produced in the context of the background studies prepared by ECB staff as an input into the Governing Council’s reflections on the ECB’s monetary
policy strategy.The views
(2000): The Federal Reserve System Discussed: A Compara-
tive Analysis, De Nederlandsche Bank, Staff Reports, No. 56.
FAUST , J. / ROGERS, J.H. / WRIGHT, J.H. (2001): An Empirical Comparison of
ff
total staff
economics staff
The Irish central bank has no research staff and its economics staff consisted of 27 people in
1999. Figure 9 gives the total number of staff, which has decreased [...] ff
total staff
economics
staff
Table 2. The Staff Ratios of the National Central Banks in the European Union.
Total staff CB /
population
Economic staff CB/
population [...] 1999
year
nu
m
be
r o
f s
ta
ff
total staff
economics
staff
research staff
Figure 6. Total, Economics and Research Staff of Sveriges Riksbank
Sweden
0
200
400
the latter is
remunerated at 3.00% is only � 41.7, and therefore does hardly justify to leave one staff member
for one more hour in the office, if this would be required.
In the case of the Eurosystem