acting dependent on political decisions. Hospitals run by the Protestant and Catholic Church have to exist in the competition of the health market. Is it an antagonistic contradiction or compatible under [...] Altersversorgung für den GGF." von Thomas Dommermuth 9 "Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?" von Heribert Popp

averages about several years, but her trend component. 2) We use a long estimation period from 1960 to 2000 what guarantees enough variation of the institutions within the single countries. 3) We admit [...] Evidence. Economic Journal 110, C1-C33. Eichorst, W., Feil, M. und C. Braun (2008), What Have we Learned? Assessing Labor Market Institutions and Indicators. IAB Discussion Paper 22/2008. Flaig, G [...] betrieblicher Altersversorgung für den GGF." von Thomas Dommermuth 9 "Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?" von Heribert Popp

according to indicative appraisal models for the art. Art properties in national possession do not have a market purpose separate to possess social values and functions, which it is valid to receive. [...] For this it is necessary to got transparency over spends for preservation of real assets. JEL: H72, H83, H87 Schlüsselwörter: Kunst- und Kulturgüter, Erhaltungsaufwand, Bilanz, Bewertungs- r [...] betrieblicher Altersversorgung für den GGF." von Thomas Dommermuth 9 "Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?" von Heribert Popp

company, which the SME's can meet effectively only by co-operation. These co- operation are successful in the operational business on the way. How measurably successful they are, is to be investigated with this [...] Network Scorecard als Instrument der Erfolgsmessung in virtuellen Unternehmen ...... 24 5.2. Cash to Cash Cycle ....................................................................................... [...] K., Walther, J.( 2007), S. 3 4 Vgl. ebenda 5 Vgl.: Roland Berger Strategy Consultants (2008): How to navigate the turbulent waters of the automotive crises page 5 Anteil am Pr

high bonus for risk. Those instruments, apart from accumulating means, are used to transfer risk to investors and to allocate it depending on individual preferences. Lack of investment-related security [...] level to GDP. The influence of moral hazard on the behavior of financial market participants is difficult to measure. On the basis of theoretical analysis we know that it exists but, due to complexity [...] information provided to depositors is simultaneously provided to the investors using the protection. However, the directive doesn’t state which compensation system is to be introduced into the legal

a German company. It is not limited to well-defined sectors or to the size of the target firm. To facilitate the process it is not mandatory for investors to “signal” an acquisition. Rather the [...] SWFs so that their assets rose to approximately 45% of their foreign exchange reserves (Beck and Fidora 2008). Several countries started early to transfer reserves to SWFs. The United Arabian Emirates [...] compared to official foreign exchange reserves of less than $200 billion. China and Russia were latecomers in this respect. Only recently they started to transfer currency reserves to SWFs. Therefore

Columns.Count, r.Rows.Count) ar = WorksheetFunction.Average(r) ReDim dd(1 To t + 1) ReDim h(0 To t + 1) ReDim reldd(1 To a) For i = 1 To t If r(i) < 0 Then If h(i - 1) = 0 Then h(i) = r(i) Else h(i) = (1 [...] Columns.Count, r.Rows.Count) ar = WorksheetFunction.Average(r) ReDim dd(1 To t + 1) ReDim h(0 To t + 1) ReDim reldd(1 To n) For i = 1 To t If r(i) < 0 Then If h(i - 1) = 0 Then h(i) = r(i) Else h(i) = (1 [...] = 0 End If Next i For i = 1 To t + 1 If h(i) = 0 Then dd(i) = h(i - 1) Else dd(i) = 0 Next i For i = 1 To n If Abs(WorksheetFunction.Small(dd, i)) = 0 Then GoTo sprung Else _ reldd(i) = Abs(W

closed order quantity of a product is manufactured in each case, is located it arises thus the task to determine the cost-optimized lot size. Storage costs, setup costs and capital freeze costs affect [...] computation a model is developed, which can be used in the series and sort manufacturing, in order to reach an optimization of the lot size and thus the cash-flow of an enterprise. D24, L14, L62 [...] betrieblicher Altersversorgung für den GGF." von Thomas Dommermuth 9 "Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?" von Heribert Popp

chance to capture this coin migration and the mixing process of coins in different euro countries. Based on research by Stoyan we find that per day approximately 150,000 1-euro coins flow to Germany [...] 1-euro coins in Germany will be of foreign origin. These figures, which were indirectly derived, seem to be economically justified. JEL: C61, E41 Schlüsselwörter: Euro-Münzen, Geldfluss, [...] Differenzengleichung für diese Flows zur Zeit t und tt Δ+ aufstellen: ( ) ( ) ( ) ( ) ( )to N tNt N tNttNttN D DD A DA DDDD Δ+Δ−Δ+=Δ+ αα (1) Dabei stellt αΔtNDA(t)/NA

Wildbad-Kreuth, Germany, to explore whether and to what extent the resilience theory is applicable to sustainable development in general and in particular to finding solutions to tackle global warming, [...] theory is likely to provide a sound basis of the development of powerful strategies to drive sustainable development. In order to keep the Earth System resilient, efforts must be made to sustain its [...] development and its longevity. • To foster the auto-regulative capacity of the triade it is of crucial importance to strengthen its ability to continuously change and adapt to the ever changing site-specific

if they influence the market structure via product differentiation. This could lead to higher prices and to less output increases and employment changes than expected. The impacts of innovations [...] depending on the additional indirect effects on the produced output, which is related to the prevailing market structure and to the price elasticity of product demand.4 There are only few empirical studies [...] (1995), Smolny/Schneeweis (1996) and Smolny (1996))5. These studies are partly - due to the underlying data - limited to cross-section analysis; partly they are based on pooled data, but the heterogeneity

The data available to us on the advantages of individual payment instruments are no better than those available to the market participants, which is why we leave it to them to decide on the most suitable [...] and benefits of payment instruments so as to be in a position to contribute to a factual debate in terms of determining the framework conditions to ensure a smooth settle- ment of payments. The study will [...] consumers. The suppliers, in turn, must meet their expenditure for providing payment transaction services from their earnings. In addition to the fees which they have to pay to payment service providers, consumers

References in publications to ROME Discussion Papers (other than an acknowledgment that the writer has had access to unpublished material) should be cleared with the author(s) to protect the tentative character [...] Abstract What role does (should) money play in modern central banking? To answer this question, it is necessary to distinguish between the different level playing fields of monetary policy. At [...] relative to interbank deposits. First, central bank balances carry no default risk. No private bank or other financial firm can match this. Second, central banks typically provide access to liquidity

how it can steer actual inflation to its target rate. As monetary neutrality is assumed to prevail, the relative change of the price level has to be equal to the relative change in the nominal money [...] services. This is important because banks, compared to financial markets, have an information advantage when it comes to granting credit to a debtor due to their close monitoring and experiences they made [...] References in publications to ROME Discussion Papers (other than an acknowledgment that the writer has had access to unpublished material) should be cleared with the author(s) to protect the tentative character

Jan page fördern führen inspirieren Would you like to join us? We are looking forward to welcoming you to our University! [...] a st e r page fördern führen inspirieren OTH Professional Lifelong learning is the key to lasting success. Continuing Academic Education Cooperative Education Programmes [...] Preparatory Courses Learning Lab Tutorials Mentoring Programmes Extra-Curricular Activities Language Courses Soft-skills Workshops Writing Lab Exchange Programmes We still have more to offer….

policy from the 1970s to 1998 can be captured by a standard Taylor rule according to which the central bank responds to the output gap and to deviations of inflation from target, but not to monetary growth. [...] in the output gap (which is equivalent to growth in output relative to growth in potential) as well as the (real-time) growth rate of money relative to target to the set of explanatory variables in the [...] were thus intended to anchor long-term inflation expectations as well as the trend rate of inflation. Another important aspect was to give guidance to other policy makers, especially to fiscal and wage policy

Reserve Board has to report to the Congress every six months about the envisaged monetary and credit developments. The Fed is, however, not required to meet these targets and failure to do so does not impose [...] (monetary) policymakers’ incentive to deviate ex post from ex ante announcements and to create surprise inflation to modify the real value of nominal contracts, for example to achieve short-term employment [...] principal’s interest. Walsh (1995a) proposed to tie the central banker’s personal compensation to inflation performance in order to increase the latter’s incentives to deliver price stability. num-Doc_Paragraph

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

it can steer actual inflation to its target rate. As monetary neutrality is assumed to prevail, the relative change of the price level has to be equal to the relative change in the nominal [...] difficult to gauge. The reasoning is that real balances reflect agents’ portfolio adjustments in response to aggregate demand and / or technology shocks to which they are exposed to. 37 [...] is likely to increase the cost of producing goods (C), which also decreases Vm. In order to address these questions in more detail, it seems reasonable to extend this NM model to directly

Franz Seitz the Constitution gives to Congress the power to coin money and set its value – a power that, in the 1913 act, Congress itself delegated to the Federal Reserve. The Federal Re- serve [...] monetary aggregates to spending, the behavior of the ag- gregates relative to their annual ranges will likely be of limited use in guiding policy (...), and the Federal Reserve will continue to utilize a broad [...] of monetary policy was intended to be the discount rate, which was set and oper- ated independently by each Reserve Bank, although the Board invested with some authority to review discount policy.“ MEADE

aggregates. The data referred to western Germany up to the end of the second quarter of 1990 and to Germany as a whole from the third quarter of 1990. This means that it was unnecessary to model the different jumps [...] thing to do here is not to select the monetary components beforehand but, instead, to examine which financial assets can provide monetary services. For reasons of comparability we restricted them to the [...] advance. Its aim in doing so is to achieve its primary objective of fighting inflation as efficiently and effectively as possible.� It was the first central bank to switch to a monetary policy strategy of

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

state of the technology. In order to be able to represent all economically relevant information of the underlying technology the variable cost function must meet certain regularity conditions (Lau [...] for constant returns to scale. To do this the restrictions in (17) were examined both individually and simultaneously with the Wald test. The hypothesis of constant returns to scale was rejected (Wald [...] parameters of this restriction proved to be insignificant (t-values: - 0.56 and -0.56), these parameters were set equal to zero for the final estimation in order to achieve the most efficient specification

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

represents the state of technology. In order to be able to represent all economically relevant information of the underlying technology, the cost function must meet cer- tain regularity conditions: C [...] public sector are not included. The data for Germany refer to West Germany until 1990 and to unified Germany from 1991 onwards. In order to eliminate the “outlier” in the growth rates for 1991, [...] /PDFXNoTrimBoxError true /PDFXTrimBoxToMediaBoxOffset [ 0.00000 0.00000 0.00000 0.00000 ] /PDFXSetBleedBoxToMediaBox true /PDFXBleedBoxToTrimBoxOffset [ 0.00000 0.00000