annotation https://doi.org/10.1365/s41056-019-00029-w https://doi.org/10.1365/s41056-019-00029-w
annotation http://crossmark.crossref.org/dialog/?doi=10.1365/s41056-019-00029-w&domain=pdf http://crossmark [...] 97% der Kredite eine Laufzeit von mindestens
5 Jahren (Deutsche Bundesbank 2019a, S. 32*; Deutsche Bank Research 2019, S. 2).
Von den gesamten neu vergebenen Wohnungsbaukrediten (=Neugeschäfte) an pri- [...] between fixed and adjustable rate mortgage. In: Agarwal S,
Ambrose BW (Hrsg) Household credit usage: personal debt and mortgages. Palgrave, New York,
S 219–236
Rachel L, Smith TD (2017) Are low real interest
Auer/Rottmann, 2015 (S. 587 ff.) [8].
5 Issing, 2011 (S. 258) [9]
6 Issing, 2011 (S. 188 ff.) [9].
page
BA
VA
RI
A
N
JO
U
RN
A
L
O
F
A
PP
LI
ED
S
C
IE
N
C
ES
[...] Committee on Banking, Housing, and Urban Affairs of
the U.S. Senate. Washington, DC, 16.02.2005.
[5] Bernanke, Ben S. (March 20th 2006): Remarks by Ben
S. Bernanke (Chairman of the Board of Governors of
the [...] Statistical Psychology 45 (2), S. 265–282.
[16] Beltran, Daniel O.; Kretchmer, Maxwell; Marquez,
Jaime; Thomas, Charles P. (2013): “Foreign Holdings
of U.S. Treasuries and U.S. Treasury Yields.” In:
Journal
Foreign holdings of
U.S. Treasuries and U.S. Treasury yields, Journal of International Money and Finance, 32, 1120-
1143.
BERNANKE B. (2006), Remarks by Chairman Ben S. Bernanke Before the Economic [...] Eigenvalue)
Hypothesized Trace 0.05 Hypothesized Max-Eigen 0.05
No. of CE(s) Eigenvalue Statistic Critical ValueProb.** No. of CE(s) Eigenvalue Statistic Critical ValueProb.**
None * 0.12 84.82 69.82 0.00 [...] 4 0.01 3.67 3.84 0.06
Trace test indicates 1 cointegrating eqn(s) at the 0.05 level Max-eigenvalue test indicates 1 cointegrating eqn(s) at the 0.05 level
* denotes rejection of the hypothesis at the
der durch die Schätzgleichung
erklärten Streuung an der Gesamtstreuung – gemessen an Mc Fadden’s R² - liegt
bei 85%. Jede Variable ist hoch signifikant (Signifikanzniveau > 95%), wie in der
[...] Geschäftsklima: Ein zuverlässiger
Frühindikator der Konjunktur, ifo Schnelldienst 5/2007
Derksen, S. und H. J. Keselman (1992) : Backward, Forward and Stepwise
Automated Subset Selection Algorithms: [...] spreads as predictors of
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Third Edition
Vol. 39, S. 195-214. Von seinem Namensgeber wurde sie inzwischen auch für die EZB vorgeschlagen. Taylor, J.B. (1998), The ECB and the Taylor-Rule, The International Economy, Vol. 12, Nr. 5, S. 24, 25, [...] Interest Rate Setting by the European Central Bank, Journal of Monetary Economics, Vol. 43, S. 655-679.
Taylor’s Intention war es, eine relativ einfache, dafür aber robuste Regel zu konzipieren, mit der [...] bezweifelt, siehe stellvertretend Kozicki, S. (1999), How Useful are Taylor-Rules for Monetary Policy, Federal Reserve Bank of Kansas City Economic Review, Vol. 84, S. 5-33.
1. Übertragung auf die EZB
Creation-Date 2013-08-27T14:23:30Z
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by
Elsevier, and the attached copy is provided by Elsevier for the
author’s benefit and for the benefit of the author’s institution, for
non-commercial research and educational use including without [...] internet sites, your personal or institution’s
website or repository, are prohibited. For exceptions, permission
may be sought for such use through Elsevier’s permissions site at:
http://www.elsevier [...]
April.
Nicoletti Altimari, S., 2001. Does money lead inflation in the euro area? ECB Working Paper, vol. 63. May.
Porter, R.D., Judson, R., 1996. The location of U.S. currency: how much is abroad?
55 Offline payment: A payment in which authorisation and settlement takes place between payer’s and payee’s
devices, without the need for any connection to the internet or other computer network and therefore [...] (2005), Gresham’s law of payments, Address to the Australasian Institute of Banking
and Finance Industry Forum, Sydney, 23 March 2005, Reserve Bank of Australia Bulletin, April
2005, S. 8-13.
Meyer [...] allerdings mit zwei unterschiedlichen D€-Kontenarten
(Guthaben- und Zero-Limit-Konto) (EZB 2023a, S. 19).
Es ist nicht offensichtlich, ob die EZB die definitorische Differenzierung zwischen
made by Clarida et al. (1998) and
others that both the Fed’s monetary policy under Paul Volcker and Alan Greenspan and
the Bundesbank’s monetary policy during the era of monetary targeting (1979-1998) [...] rule based on real-
time estimates of inflation and the output gap tracks the Fed’s monetary policy in the
1970s quite closely and thus would not have been helpful in avoiding the policy
mistakes [...] 38, 587-614.
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Economic Review 41, 1025-1053.
Bernhardsen, T., Eitrheim, Ø., Jore, A.S., & Røisland, Ø. (2005): Real-time
H0: S=
^
. When Maximum likelihood is used to estimate the model, the formula for² and Fis as in (5A):
2
1
ˆ( 1) ( ; )
ˆ ˆ ˆ( ; ) ( ) lg | | lg | |
n F S
F S tr S S
[...] Data: Asymptotic and finite-sample properties, Journal of
Econometrics 108, 1-24.
Maddala, G S. & S Wu (1999). A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test, Oxford [...] Economic Studies 57, 99-125.
Rogoff, K S (1998), Blessing or Curse? Foreign and underground demand for euro notes, Economic Policy, 263-303.
Rogoff, K S (2016), The Curse of Cash, Princeton University
Wakefield (2019) Where’s the Money? An Investigation into the
Whereabouts and Uses of Australian Banknotes, The Australian Economic Review 53, 22–34.
Flannigan, G, & S. Parsons (2018), High-d [...] Economic Policy 7(2), 10–32.
Shirai, S. & E. A. Sugandi (2019), What Explains the Growing Global Demand for Cash? ADBI
Working Paper Series, No. 1006.
Sumner, S. B. (1990), The Transactions and Hoarding [...] receive comments.
The opinions expressed in this article are the sole responsibility of the author(s) and should not be
interpreted as reflecting the views of Sveriges Riksbank.
annotation
bzw. die »Recovery Rate« in der Regel auf das Rating gro-
ßer Ratingagenturen wie Moody’s and Standard & Poor’s
zurückgegriffen. Dabei ist allerdings zu beachten, dass das
Rating mehrere Unternehmen in [...] zu Bilanz-
werten gemessen ist. Zusätzlich verwenden wir noch die
beiden von Standard & Poor’s und Moody’s ermittelten Grö-
ßen »Rating« und »Outlook«. Erstere ist eher gegenwarts-,
zweitere eher zuku [...] wer-
den die Ratingkategorien zu vier größeren Einheiten gemäß
der Klassifikation von Standard & Poor’s (AAA, AA, A, BBB)
aggregiert.1
In den Tabellen 2 und 3 sind einige statistische Kennzahlen
des D
Bilanzwer-
ten gemessen ist. Zusätzlich verwen-
den wir noch die beiden von Stan-
dard & Poor’s und Moody’s ermittel-
ten Größen „Rating“ und „Outlook“
(für „senior unsecured debt“). Ers-
tere ist eher [...] werden
die Ratingkategorien zu vier größe-
ren Einheiten gemäß der Klassifika-
tion von Standard & Poor’s (AAA,
AA, A, BBB) aggregiert. Die Zusätze
+ und – werden im Folgenden also
der entsprechenden Klasse
exogenen) Geldmenge M. So etwa De-
Long und Olney (2005, S. XX): „In today‘s world, where
central banks set interest rates but not money stocks, the
LM curve‘s underlying assumption that the nominal mo-
ney stock [...] deposits“ (Howells, 2005, S. 3).
„The relationship between money and credit is an endo-
genous one, and affected by economic policy (including
monetary policy)“ (Stiglitz/Greenwald, 2003, S. 295). Es
zeigt sich [...] inter-
bank interest rate is the appropriate operational target“
(Bindseil, 2004, S. 8; siehe hierzu auch Bain/Howells,
2003, S. 92 f.).
In weiten Teilen der Lehrbuchliteratur findet dies aber
noch kaum
personal website or
institutional repository. Authors requiring further information
regarding Elsevier’s archiving and manuscript policies are
encouraged to visit:
http://www.elsevier.com/copyright
[...] February 2013
JEL classification:
E41
E42
E58
Keywords:
Banknotes
Euro
Foreign demand
Age
a b s t r a c t
In this paper, we analyze the volume of Euro banknotes issued by Germany and circulating [...] growth
rates for D-Mark currency. Moreover, for each of the seven Euro
denominations, the Bundesbank’s share in net issuance is higher
than its share in the capital of the European Central Bank (ECB) of
Adrian, T. & H.S. Shin (2011), Financial Intermediaries and Monetary Economics, in: B.
Friedman und M. Woodford (Hg.), Handbook of Monetary Economics, Vol. 3A, North-
Holland, S. 601-650.
Alchian [...] und Anwendungsbereiche, Stuttgart
2013, S. 79-102.
Orphanides, A. (2001), Monetary policy rules based on real-time data, American Economic
Review, 91, S. 964–985.
Rösl, G. & K.-H. Tödter (2015) [...] (2015), The Costs and Welfare Effects of ECB’s Financial Repression
Policy: Consequences for German Savers, Review of Economics & Finance, 5(4), S. 42-
59.
Sachverständigenrat zur Begutachtung der g
Rate Mortgage,
in: Agarwal, S. & B. W. Ambrose (Hg.), Household Credit Usage: Personal Debt and
Mortgages, Palgrave, 219-236.
page
24
Rampini, A. & S. Viswanathan (2016), Household [...] Troika haben?
von Thomas Jost
67 Does Microfinance have an impact on borrower’s consumption patterns and women’s
empowerment?
von Charlotte H. Feldhoff, Yi Liu und Patricia R. Feldhoff
[...] with
respect to interest rate conditions and interest rate fixation since the beginning of the 1960s. Of
special interest are the share of fixed compared to adjustable rate contracts, the effective
Economics 31, S. 91-98.
Johansen, S. (1995), Likelihood-based Inference in Cointegrated Vector Auto-regressive Models, Oxford University Press,
Oxford, New York.
Kang, S.H., Kang, S.-M. & S.-M. Yoon [...]
Notice to U.S. investors
This report is being furnished to U.S. recipients in reliance on Rule 15a-6 ("Rule 15a-6") under the U.S. Securities Exchange Act of 1934, as amended. Each U.S. recipient of [...] Abosedra, S. (2005), Futures versus Univariate Forecast of Crude Oil Prices, OPEC Review 29, S. 231-242.
Akram, Q.F. (2009), Commodity Prices, Interest Rates and the Dollar, Energy Economics 31, S. 838-851
ß derby ß U ß U
ß U ß diff ß tag ß ent ß temp ß wet
ß hm ß s
= + + + + + − + −
+ + + + + +
+ + + + + +
+ + 21 3 22 4 ,i tß s ß s ε+ + +
In Tabelle 3 sind die Ergebnisse, getrennt nach [...] Honeymoon (hm) 2.617,8 1,6 5.546,5 3,0
Saison 2002/2003 (s2) -311,7 -0,3 -3,6 -0,0
Saison 2003/2004 (s3) 4.340,6 4,1 5.117,9 4,1
Saison 2004/2005 (s4) 5.509,8 4,5 5.422,3 4,2
logL -9.594,3 -9.684,1 [...] Management 32, S. 305-315.
Melzer, M. und R. Stäglin (1965), Zur Ökonomie des Fußballs – Eine empirisch-theoretische
Analyse der Bundesliga, Konjunkturpolitik 11, S. 114–137.
Szymanski, S. (2001),
Creating competence for the future
page
F a c h h o c h s c h u l e
I n g o l s t a d t
U n i v e r s i t y o f
App l i ed Sc iences
Arbeitsberichte
Working Papers
[...] term structure of bond rates:
(1) ( , )= +l s
t t tr r rp l z
where rl
t is the real long-term rate, rs
t is the real short-term rate, l and s are the terms
of the bonds, zt is a set of variables [...] 95 13.50) 0.13 0.54 0.21
1.89 1.17
− − −
−
Δ = − ⋅ − − + + Δ + Δ − Δ
+ − +
l l s e l s
t t t t t
t t t
i i i i i
ism ism
π
μ
sample: 1986:01-2005.09; R² = 0.30; SE =
Potential
an den Gate-Anschlüssen G1 oder G2 um etwa +15 V höher sein als an den Source-
Anschlüssen S1 oder S2. Hierfür müssen die IGBT-Treiber auf der HV-Seite -in Abbildung 1
grau dargestellt- elektrisch [...]
Kondensatoranschlusses um etwa +15 V höher als das Potential bei S1.
Während der Einschaltphase von T1 steigt das Potential bei S1 bis auf etwa +𝑈DC an.
Aufgrund der Stetigkeitsbedingung der [...] HV-Seite eine Schottky-Diode DB und ein
Kondensator CB zwischen einer Hilfsversorgung von +15 V und S1 in Serie geschaltet, siehe
Abbildung 1 (b). Während der Einschaltphase des Transistors T2 wird der
0,0
0,5
1,0
1,5
2,0
Q = 844 C, C = 337 F
Q = 857 C, C = 343 F
5 mV/s
2.5 mV/s
1 mV/s
Q = 865 C, C = 346 F
C
ur
re
nt
/
A
Voltage / V
Fig. 9: Detemination of [...]
re
nt
/
A
Time / s
0 10 20 30 40 50 60 70 80 90 100
-0,8
-0,7
-0,6
-0,5
-0,4
-0,3
-0,2
-0,1
0,0
dI/dt
D
er
iv
at
iv
e
/ A
s
-1
Time / s
Fig. 14.: Left: Experimental [...] Wh/kg).
0 20 40 60 80 100 120 140
0
5
10
15
20
25
30
D i s c h a r g e T i m e / s
60% rated
voltage
40% rated
voltage
1
2
3
4
D
is
ch
ar
ge
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Paper Ser ie s No . 330
April 2004
page
transactions purposes was 45% in the first half of the 1990s just to fall back to about 25 % in the
second half of the 1990s.62 Taken the 1990s together [...] of small banknotes declined in the first half of the 1980s (see Chart 3). In
the second half of the 1980s and in particular during the 1990s, small-value banknotes have been
relatively stable in [...] that the high interest rates of the late 1980�s and the early 1990�s were
a spur to the development of EFTPOS cash substitutes.
26
ECB
Work ing Paper Ser ie s No . 330
April 2004
page
and Seitz
Transaktions-
größen konzentrieren (siehe dazu auch Becker, 1975, S.63f., Cagan, 1958, S. 306f., Galli,
1980, S. 3, Kimball, 1981, S.44f.).
In den Abbildungen 18 und 19 sind die entsprechenden [...] angewen-
det, vgl. Ha (1994), ~ n i e ~ e r l ~ a (l994), S. 13-15.
4 7 ~ ~ = + log (2 x ) +("1 -ist definiert als LL -" ( 2 )- - log f s sR) .
2 2 ) \ N
wobei N die Anzahl der Beobachtungen und [...] Vol. 66, S. 303-328
Calvo, Guillermo A., Kumar, Manmohan S. (1994), Money Demand, Bank Credit, and Eco-
nomic Performance in Former Socialist Economies, IMF Staff Papers, Vol. 41, S. 3 14-349