von der Preiselastizität der
3 Siehe z.B. Y.S. Katsoulacos, The Employment Effect of Technical Change, Oxford 1986, Kapitel 2
und 4 sowie G.M. Grossman [...] gung kaum erhöhten (0,11%).
8 Vgl. H. König, H.S. Buscher, G. Licht, Employment, Investment and Innovation at the Firm Level,
in: OECD, The OECD Jobs [...] Evidence from
West German Sectoral Data, in: Weltwirtschaftliches Archiv, Vol. 130, 1994 sowie H. König, H.S. Bu-
scher, G. Licht, a. a. O.
page
13
Zusammenfassung: Positive Beschäftigungseffekte
ployment or the growth rate of labour productivity on the growth rate of output (Okun’s Law or
Verdoorn’s Law). The typical empirical result for Germany is that the estimated employment
threshold [...] (1990) reports that
the employment threshold was about 3.8 per cent during the 1960s and 1.2 per cent during the
1980s. This decline is usually attributed to the productivity slowdown.
page [...] equation (6) to zero and get after
some manipulations the short-run employment threshold s
Yw :
( )( ) YLtLKKLqqqL
s
Y wwww
mll ,,,, εεεε ++−−= (7)
where )(w represents the growth rate for the respective
Analysis of Panel Data. Cambridge.
KATSOULACOS, Yannis S. (1986), The Employment Effect of Technical Change. Oxford.
KATSOULACOS, Yannis S. (1991), Technical Change and Employment under Imperfect [...] firm does not take output as
given, but the output decision process is connected with the firm’s innovation behaviour. If, for
example, innovations increase the quality of goods or reduce the input [...] new product, given constant qualities and
product groups of the competitors, increases the firm’s market share, but it could also lead to
higher monopolistic power and mark-up pricing. Thus, the
Organization 20, pp. 1-17
Bond S. and C. Meghir (1994), Dynamic Investment Models and the Firm’s Financial Policy.
Review of Economic Studies 61, pp. 197-222
Butler, J. S. and P. Chatterjee (1997), Test [...] Myers, S. and N. S. Majluf (1984), Corporate Financing and Investment Decisions when Firms
Have Information that Investors Do Not Have. Journal of Financial Economics 13, pp. 187-221
Ongena, S. and [...] frequently applied: Estimate (3) by probit maximum
likelihood, calculate the inverse Mill’s ratio, add the inverse Mill’s ratio as a regressor to (1) and
estimate the augmented (1). Our endogenous variable
(2000), S. 5.
32 Vgl. SCHWARZE (2000), S. 1294.
33 Vgl. auch BINI SMAGHI / GROS (2000), S. 125-129; MISHKIN (2001), S. 383; SCHICH / SEITZ (2000),
WOOD (2001b), S. 79 und WYNNE (1999), S. 6. [...] BOFINGER
(2001), S. 205-239, VON HAGEN ET AL. (2001), S. 11-15, ILLING (2000), LIEBSCHER (1999) und
WALSH (1998), S. 375-381.
36 HETZEL (2000), S. 276.
37 „…by the mid-1920s there were voices [...] policy.“ MEADE / SHEETS (1999), S. 55.
12 Vgl. HUMPHREY (2001), S. 84-86; WHEELOCK (2000), S. 249-251.
13 „The individual Reserve Banks began, during the 1920s, to engage actively in sales and
n a M o n e t a r y U n i o n :
T h e C a s e o f t h e E u r o p e a n
S y s t e m o f C e n t r a l B a n k s
Sylvester C. W. Eijffinger
with comments by José Luis Malo de Molina [...] - Eijffinger_WP64.doc
page
≈√
O e s t e r r e i c h i s c h e Nat i ona l b a n k
W o r k i n g P a p e r 6 4
Th e Fe d e r a l D e s i g n o f a C e n t r a l
B a n k i n [...] Studien Nr. 4/1990, S 74 ff
3) In abgeänderter Form erschienen in Berichte und Studien Nr. 4/1991, S 44 ff
4) In abgeänderter Form erschienen in Berichte und Studien Nr. 3/1991, S 39 ff
5) In abgeänderter
of persistent real exchange rate
movement that the UK has experienced in the second part of the 1990s. The
high variability in Swedish CPI inflation and, somewhat less pronunciated, in
the Swedish real [...] (2000), `A Money Demand System for Euro Area M3', ECB
Working Paper No. 39, November 2000.
Gerlach, S. and L. E. O. Svensson (1999), `Inflation and Money in the Euro Area: A Case
for Monetary Indicators
Contents
Abstract 5
1 Introduction 7
2 The Eurosystem�s balance sheet, the supply and demand for deposits,
and the logic of the ECB�s liquidity management4 8
3 The autonomous liquidity factors [...] ECB Working Paper No 44 � February 20018
2 The Eurosystem�s balance sheet, the supply and demand for
deposits, and the logic of the ECB�s liquidity management4
The natural starting-point for any [...] Tuesday in
respect of the preceding Friday (see the ECB�s Web site at http://www.ecb.int). 5 Table 1 constitutes
a simplified version of the Eurosystem�s balance sheet of 26 November 1999, which shows all the
fromFig. 4. Call TS. t]
two different unobservable states S 5 1,2. If thet
2 2state at time t is S then y | N(m , s ). Thet t S St t
8 state S is assumed to follow a first-orderlast at least 12 months [...] A cyclical turning point
P(S 5 juS 5 i, S 5 k, . . . )t t21 t22is thought to occur at the most extreme value of
inflation between two consecutive regimes. 5 P(S 5 juS 5 i) 5 pt t21 ij
2
and O [...] ,y ; l, y )1 2 T 0 points
2 2
5 O . . . O P( y , . . . y , S , . . . S ; l, y )t T 1 T 0 Since Hamilton’s (1989) model was de-
S 51 S 511 T veloped as an alternative treatment of non-
stationary
Unterrichtung
durch die Bundesregierung
Masterplan Umwelttechnologien
I n h a l t s v e r z e i c h n i s
Seite
1. Zielsetzung . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [...] durch die Ansiedlung
des Programms „UN-Water Decade Programme on Capa-
city Development“ (UNW-DPC, s. o.), das von BMBF
und BMZ gemeinsam gefördert wird und im Sommer
2007 unter Abstimmung aller Ressorts [...] produktionsbedingten Resten, Verschnitt
und Abfall)
(4) Verbesserung der Materialeffizienz
i. e. S. (produktbezogen)
– Miniaturisierung
– Leichtbautechnik/Bionik
– Neue Werkstoffe
(5) Ve
umgebaut
Ansprechpartner: Stefan Liesner,
Leitung Marketing & Politik beim
BHKW-Hersteller 2G Energy,
s.liesner@2-g.de;
Max Becker, Projektleiter am Institut
für Energietechnik IfE,
max.becker@ifeam
not exceed five working days during the whole of the practical training semester. If the interruption(s) does/do exceed five working days, all working days absent from work have to be made up for. In case
für den Studiengang und der von der zuständigen Fakultät der Hochschule erlassene Ausbildungsplan (s. Anlage).
standard § 2
Pflichten der Vertragspartner
standard (1)
Die Ausbildungsstelle v
für den Studiengang und der von der zuständigen Fakultät der Hochschule erlassene Ausbildungsplan (s. Anlage).
standard § 2
Pflichten der Vertragspartner
standard (1)
Die Ausbildungsstelle v
not exceed five working days during the whole of the practical training semester. If the interruption(s) does/do exceed five working days, all working days absent from work have to be made up for. In case
not exceed five working days during the whole of the practical training semester. If the interruption(s) does/do exceed five working days, all working days absent from work have to be made up for. In case
not exceed five working days during the whole of the practical training semester. If the interruption(s) does/do exceed five working days, all working days absent from work have to be made up for. In case
not exceed five working days during the whole of the practical training semester. If the interruption(s) does/do exceed five working days, all working days absent from work have to be made up for. In case
not exceed five working days during the whole of the practical training semester. If the interruption(s) does/do exceed five working days, all working days absent from work have to be made up for. In case
Wall", University of Cagliari, mimeo.
Boyer, R. S. (1986). "Currency Mobility and Balance of Payments Adjustment", in: Putnam, B. H., Wilford, D. S. (eds.), The Monetary Approach to International Adjustment [...] pp. 303-316.
Johansen, S. (1988). "Statistical Analysis of Cointegration Vectors", Journal of Economic Dynamics and Control, Vol. 12, No. 2/3, pp. 231-254.
Johansen, S., Juselius, K. (1990). "Maximum [...] , Wilford, D. S. (1986). "A Currency Portfolio Approach to Exchange Rate Determination: Exchange Rate Stability and the Independence of Monetary Policy", in: Putnam, B. H., Wilford, D. S. (eds.), The Monetary
Tensions and Prospects, Boston, S. 263-312.
seitz Evans, P. (1985), Money, Output and Goodhart's Law: The U.S. Experience, The Review of Economics and Statistics, Vol. 67, S. 1-8.
seitz Fagan, G., Henry [...] Staff Papers, Vol. 38, S. 1-32.
seitz Carr, J., Darby, M.R. (1981), The Role of Money Supply Shocks in the Short-Run Demand for Money, Journal of Monetary Economics, Vol. 8, S. 183-199.
seitz Cogley [...] Parameter Model, Federal Reserve Bank of San Francisco, Economic Review, No. 3, S. 35-41.
seitz Ericsson, N.R., Irons, J.S. (1995), The Lucas Critique in Practice – Theory Without Measurement, in: Hoover
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
latter act in the 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 [...] stabilisation) than society does. This again reflects Rogoff’s notion of a conservative central banker. The first difference is that in Rogoff’s framework, society chooses a central banker who has the right [...] biblio-Entry Fischer, S. (1994), Modern Central Banking, in: F. Capie / C. Goodhart / N. Schnadt (eds.), The Future of Central Banking, Cambridge, 262-308.
biblio-Entry Fischer, S. (1995), Central Bank
relates to quarter-by-quarter changes, i.e. first differences. Therefore three seasonal dummies s1, s2 und s3 enter the regressions. The effect of German unification on certain time series is captured by [...] wmf image6.wmf D
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s1 Froyen, R.T., Havrilevsky, T., Waud, R.N. (1997), The Asymmetric Effects of Political Pressures on U.S. Monetary Policy, Journal of Macroeconomics, Vol. 19, pp. 471-493
s1 Garibaldi,
process, reflecting the efficiency of the Eurosystem’s forecasts.
standard It should also be noted that, from the point of view of the Eurosystem’s balance sheet and its liquidity management, it makes [...] , A. , S.J. Koopman , and M. Riani (1997), The Modeling and Seasonal Adjustment of Weekly Observations, Journal of Business & Economic Statistics 15 (3), 354–368.
litver Husted , S. and M [...] embedded _1085826781
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, respectively. The trend variable calculated in this way was