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 must [...] 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, we include [...] defensive reaction to the threat of unemployment. This poses the following question: Are the labour
market institutions also endogenous in respect to the employment thresholds? This seems to be less
likely
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(other than an acknowledgment that the writer has had access to unpublished material) should be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
Diesel gemischt und in herkömmlichen Motoren verbrannt werden.
CTL- (Coal-to-Liquid) und GTL-Kraftstoffe (Gas-to-Liquid) werden seit
1938 in Deutschland hergestellt. Das Verfahren wurde nach dem [...]
77 Engl. “oxygenates”: Alkohole, Ether, Fettsäuremethylester.
78 MTP = Methanol To Propylen; MTG = Methanol To Gasoline; s. a. DME (Abschnitt 3.8).
page
Alternative Kraftstoffe und Hy [...] 63 Engl. „Syn(thetic) Fuel“ aus fossilen Energieträgern, Sunfuels aus Biomasse. BTL = Biomass-
to-Liquid; vgl. a) www.btl-plattform.de; Kaltschmitt/Hartmann (2001); Kamm et al. (2005).
64 Vgl. Umweltrat
page
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 [...] especially
important in the event of a serious liquidity problem. Banks may want to maintain a clearing account at the
central bank to obtain funds quickly and conveniently from the discount window. Third, banks
Hegemann, W., Gökcay, W., Bischof, F.,
Hackner, T.: Upgrading of Wastewater Lagoons to Mi-
nimize Evaporation Losses and to Produce an Effl uent
Free of Bacteria , Konferenzbeitrag und Proceedings, IWA
[...] Herrmann und Herrn Georg Schieder
• Messestand der Hochschule bei der Ausbildungsmesse
„School to Business“ im Berufl ichen Schulzentrum Am-
berg am 12. April 2005
• Teilnahme am Festakt des Au [...] außerdem im Rahmen von Fach-
tagungen wie „Patinfo 2005“, „VPP Herbsttagung“,
EPIDOS „Far East meets West in Vienna“, OTTI „Patente
lesen und recherchieren“, „Leitbild Informationskompe-
tenz“ (Online
uncommon factors are needed to explain the recent behaviour of bond yields. To
examine this issue, we use our preferred model to calculate a "fair value" of bond
yields. To be specifically, it is derived [...] observable but have to be proxied for empirical work. Second,
the strength of the effect of expected inflation is ambiguous. Invoking the Fisher
effect would allow to impose a one-to-one relationship [...] 5 7.5
Therefore, it seems reasonable to restrict the VECM to one cointegration relationship
and – as the unit root tests mentioned above suggest – to include the indicator for the
expected
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
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langen, Bereich Bildverarbeitung; dort z. Zt. 4 Diplomarbeiten aus der Lehrveranstaltung
Real to Virtual.
Prof. Dipl.-Ing. Wolfgang Schindler:
- Zusammenarbeit mit Siemens VDO, Regensburg [...] Fertigungsautomatisierung u. Produktionssystematik
der FAU Erlangen
§ Blöchl W.: „Productivity meets Flexibility“, Workshop, Werkzeugmaschinenlabor
§ Blöchl W.: „Leistungssteigerung in der spanenden
refer to IEC 60068, which is valid for
conventional capacitors. Correspondingly, electrical
tests have to be performed at temperatures between 15
°C and 35 °C, a relative humidity of 45 % to 75 %, [...] discharge current according to Table 1 may be
reduced by a factor of two, a fifth or a tenth. Current
values I > 10 A are rounded to two significant digits and
currents I ≤ 10 A to one significant digit [...] current according to
Table 1 may be reduced by the half, a fifth or a tenth.
Electric power reflects the maximum current the
supercapitor is able to supply, when it is discharged to
the half of its
Oktober 2001, 53. Jg., S. 15 –
31 (http://www.bundesbank.de).
Deutsche Bundesbank, How to Pave the Road to E(M)U: the
Monetary Side of the Enlargement Process (and its Fiscal Sup-
port), Beiträge zu [...] S. 3 – 7.
Remsperger, H., Erweiterung der Europäischen Union und der
Währungsunion: Maastricht meets Kopenhagen, in: Deutsche
Bundesbank Auszüge aus Presseartikeln, Nr. 53 vom 5. Dezem-
ber 2001b, S
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
changing world will eventually cease to be relevant. There is much still
to learn in the field of economic policymaking, and [a central bank] must continue to learn and
update its thinking” (IMF, 2000 [...] designed to disseminate and
to provide a platform for discussion of either work of the staff of the OeNB economists or outside
contributors on topics which are of special interest to the OeNB. To ensure [...] Governing Council wants on occasion to meet at a national
central bank to underline the European nature of the system.
Recently, the Governing Council of the ECSB decided to reduce the frequency of monetary
is equal to the inflation target
��p�t � �̂�. Market forces operating behind the Phillips curve then tend to
eliminate any price gap inherited from the past. Hence, actual inflation
converges to the target [...] targeting based on a
`limited' information set. In contrast to `full information' inflation forecast
targeting, monetary growth targeting is likely to be more robust under changing
conditions of the real world [...] Svensson
Franz Seitz Karl-Heinz ToÈdter*
University of Applied Sciences, Deutsche Bundesbank
Amberg-Weiden
1. In a further paper Rudebusch and Svensson (2000) try to show that a Eurosystem style 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
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
national central banks are, by function, subordinated to the ECB "to allow the Eurosystem to
operate efficiently as a single entity with a view to achieving the objectives of the Treaty. (...)
As [...] subject to oversight by the US Congress because 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 [...] “These sweeps have allowed required reserve balances to decline sharply from about $ 30 billion in 1990, to $
15 billion in 1996 and to only about $ 5 to $ 6 billion today.“ Taylor, 2001, 33.
25 "While the