Euro Area,
Journal of International Money and Finance 29, pp. 111-22.
Evans, Martin D. D. (2005), Where Are We Now? Real-Time Estimates of the
Macroeconomy, International Journal of Central Banking [...]
Canova, F. & T. Menz (2011), Does Money Matter in Shaping Domestic Business
Cycles? An International Investigation, Journal of Money, Credit and Banking 43, pp.
577-607.
Canova, F. & F. Ferroni [...] -E. Reimers & B. Roffia (2010), Asset Price Misalignments and
the Role of Money and Credit, International Finance 13, pp. 377–407.
Gertler, M. & N. Kiyotaki (2011), Financial Intermediation and Credit
seasonally adjust daily time series available to
us, as well as seminar participants at the Bank for International Settlements, the Swiss National Bank (SNB),
the Annual Congress 2018 of the Swiss Society of Economics [...] 20 years old and therefore neither covers the financial crisis nor the phase of low or
1For international evidence see Bagnall, Bounie, Huynh, Kosse, Schmidt, Schuh & Stix (2016), Jobst & Stix
(2017) [...] 20 years old and therefore neither covers the financial crisis nor the phase of low or
1For international evidence see Bagnall, Bounie, Huynh, Kosse, Schmidt, Schuh & Stix (2016), Jobst & Stix
(2017)
Moreover, only a short period to deposit these notes in
banks and post offices was provided (Cards International 2016).
Below, we will take up some of the issues that figure prominently in the dis-
cussion [...] merchants’ and consumers’ surveys (Fung /
Huyuh / Kosse 2017).
Table 2
Costs of Payments – International Overview (Cost per Transaction)
Cash Cards Debit Credit
US 2003 $54 2.18 1.07 1.16
[...] 75 % for households with an income of
less than €1,500 (Deutsche Bundesbank 2015, 35). In an international study, Ba-
gnall et al. (2016) find clear confirmation of the education effect, in particular
zunehmende Bedeutung von Staatsfonds auf den internationalen Finanzmärkten ist hingegen
das Nebenprodukt der globalen Ungleichgewichte bzw. der hohen internationalen
Kapitalströme.
3.2. Reaktionen [...] Verbraucherpreise (Abb. 4) und des BIP-
Deflators (Abb. 5) an.
Abb. 4: Verbraucherpreise international (in %)
-15
-10
-5
0
5
10
15
20
25
1920 1930 1940 1950 1960 1970 [...] sinkenden Preisen in der überwiegenden Mehrzahl der
Fälle positiv.
Abb. 5: Preisentwicklung international anhand des BIP-Deflators (in %)
-20
-10
0
10
20
30
1930 1940 1950 1960 1970
Zürich, Switzerland
Full list of author information is available at the end of the article
1For international evidence, see Bagnall et al. (2016), Jobst and Stix (2017), or
Bech et al. (2018); for survey [...] Open Access This article is distributed under the terms of the Creative Commons Attribution 4.0
International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution [...] Economics and Statistics (2019) 155:14 Page 21 of 22
Abbreviations
BIS: Bank for International Settlements; CHF: Swiss franc; CPI: Consumer price
index; DOLS: Dynamic ordinary least squares;
Wahl einer festen Zinsbindung gegenüber einer variablen
Verzinsung bei Immobilienfinanzierungen international sehr unterschiedlich ist.8 Un-
einigkeit herrscht allerdings in der Literatur darüber, wie die [...] vorbehalten.
Open Access Dieser Artikel wird unter der Creative Commons Namensnennung 4.0 International Lizenz
(http://creativecommons.org/licenses/by/4.0/deed.de) veröffentlicht, welche die Nutzung [...] 836. OECD Publishing, Paris
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theoretische Modell und die
Daten
Wie viele Zinsanalysen von Banken,
Zentralbanken und internationalen
Organisationen wie IWF, OECD oder BIZ
stellen auch Bandholz et. al. [1] bezüglich
der Entwicklung [...] Autor.
7. Abkürzungen
BCS-Modell:
Zinsmodell von Bandholz et. al. (2009)
BIZ:
Bank für Internationalen Zahlungsausgleich
CORE:
US Core Inflation (Headline Consumer Price
Index ohne Nahrungsmittel [...] Securities“
ISM:
Index des Verarbeitenden Gewerbes vom
Institute for Supply Management
IWF:
Internationaler Währungsfonds
K_MB_GDP:
Das Verhältnis zwischen der monetären Basis
der FED und dem nominalen
Das theoretische Modell und die Daten
Wie viele Zinsanalysen von Banken, Zentralbanken und internationalen Organisationen wie
IWF, OECD oder BIZ stellen auch Bandholz et. al. (2009) bezüglich der [...] THOMAS C.P. (2013), Foreign holdings of
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Statistiken über die Lieferungen von durch die Deutsche Bundesbank
emittierten Banknoten über im internationalen Sortenhandel tätige Banken in Nicht-EWU-
Länder oder auf Befragungen von Reisenden hinsichtlich [...] Anbindung des schweizerischen Bankensystems an den Euro-Bargeldkreislauf eine wichtige
Rolle im internationalen Sortenhandel einnimmt, verzeichnete zu dieser Zeit einen kräftigen
Anstieg in der Nachfrage [...] großen
Bedeutung dieser Geldhäuser im weltweiten Sortenhandel zu sehen, in dem diese als
internationale Drehscheibe fungieren. Dabei verkaufen die eidgenössischen Banken die
erworbenen Euro-Banknoten
System,
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European Central Bank (2010), The International Role of the [...] countries) has
little to do with domestic seasonal developments.19 This depends more on the international
reputation of the euro and unstable developments in the destination countries.20 Hence,
[...] the number of transactions at POS
terminals is comparable (for more details, see Bank for International Settlements (BIS),
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- The size of the shadow economy, in which most transactions
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statistically to around 20,000 passengers per day. Frankfurt [...] Felbermayr
in Germany: pains and gains Wido Geis
foregone? Wilhelm Kohler
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accumulation and foreign assets Robert Kollmann
. . . . . . . . . . . . . . . 38
Figure 17: International comparison of the number of card payments . . . . . . . . . 39
Figure 18: International comparison of the value of card payments . . . [...] cashless payment instruments in Germany. After a de-
scription of developments in a national and international context, we will compile a
critical overview of literature on cost calculations and on the importance [...] payment system is not an
end in itself, but a necessary precondition for fostering national and international
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Zwar beeinträchtigen Preissteigerungen bei nichthandelbaren Gü-
tern nicht unmittelbar die internationale Wettbewerbsfähigkeit eines
Landes. Jedoch haben sie – über Substitutionsprozesse und da der tertiä- [...] Kosteneffekt auf
die Preise von handelbaren Gütern und führt so zu einer Beeinträchti-
gung der internationalen Wettbewerbsfähigkeit. Oder anders ausge-
drückt: Es kommt zu einer Aufwertung des realen Wec [...] multilaterales System mit gegenseitigen Interventionsverpflichtungen.
Hier tritt mit der EZB ein international glaubwürdiger Akteur auf. „Die
Erfahrung lehrt, dass sich der Markt in schwierigen Zeiten vor
S e i t z : Europäische Geld-
politik, 4. Aufl ., Stutt gart 2004, Kap. II.3.
2 Zu einem internationalen Vergleich der
operativen Umsetzung der Geldpolitik siehe
K. R u c k r i e g e l , F. S e i
ausländisches Bargeld ver-
schaffen. Rogoffs Vorstellung hat also allenfalls dann Sinn,
wenn sich international zumindest die Länder mit den wich-
tigsten Weltwährungen (US-Dollar, Schweizer Franken, Ja-
panischer [...] Dis-
cussion Paper 374.
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