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Estimation, in: Review of Financial Economics, Vol. 133 (2019), Nr. 2, S. 273298.
Murray, M.P.: Avoiding Invalid Instruments and Coping with Weak Instruments, in: Journal of
Economic Perspectives
policy shocks
Leombroni et al. (2020)
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cation and the yield curve. Journal of Financial Economics, in press.
Mauro, P., Romeu, R., Binder, A., Zaman, A., 2015. [...] XDC_R_B1GQ_CY._Z.S.V.CY._T
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annotation GFS.Q.N.XX.W0.S13.S1.C
-2.84, p = .01, Matrizen: z = -4.50, p < .001, Deutsch: z = -
6.80, p < .001) sowie im obersten Quartil (Englisch: z = -4.58, p < .001,
Matrizen: z = -5.00, p < .001, Deutsch: z = -4.43, p < .001) [...] (Englisch: w = 10232, p < .001, Matrizen: w = 16160, p <
.001, Deutsch: w = 11358, p < .001) und vier (Englisch: w = 9160.5, p <
.001, Matrizen: w = 11358, p < .001, Deutsch: w = 8916.5, p < .001). Somit [...] Quartilen eins (Matrizen: z = -3.50, p
< .001, Deutsch: z = -3.90, p < .001) und vier (Englisch: z = -2.10, p = .04,
Matrizen: z = -3.33, p < .001, Deutsch: z = -3.54, p < .001) in allen
Kompeten
coefficients; ***(**, *): 1 (5, 10) % level of significance;
LM(4): p-value of Breusch-Godfrey serial correlation LM Test up to lag 4; Ramsey: p-value of Ramsey
RESET misspecification test.
We get significant [...]
Ruberton, P. M., J. Gladstone & S. Lyubomirsky (2016), How your Bank Balance Buys
Happiness: The importance of “cash on hand” to life satisfaction, Emotion 16, 575–580.
Sands, P (2016), Making [...] Payment Cards Center, Federal Reserve Bank of
Philadelphia, January.
Chen, H., W. Engert, K. P. Huynh, G. Nicholls, M. Nicholson & J. Zhu (2020), Cash and COVID-
19: The impact of the pandemic on
flag being ‘EQ,’ excluding all non-equities. e.g., Ince and Porter (2006)
4 ISINID = P We require the ISINID flag being ‘P,’ only considering primary listings. e.g., Hanauer and Huber
(2018)
5 Extended [...] value
of assets, with a strike price equal to the ‘promised payment [...] to the debtholders’
(p. 453). Therefore, the required variables can be created using equation (3) of Black
and Scholes (1973): [...] understanding and predicting the cross-
sectional differences in expected returns of individual stocks’ (p. 12). Harvey and Liu
(2021) argue that the identification of factors is highly dependent on the
digital payment infrastructure, cash
remains the most popular means of payment at the POS and for P2P transactions in the euro
area. The results of the latest comprehensive household survey (SPACE) [...] consumers still prefer to pay in cash over card
payments in 2019: 73% of the volume of POS and P2P transactions was carried out using
cash as a payment instrument. In value terms, cash transactions [...]
of all transactions. On average, euro area residents made 1.6 transactions (at the POS and
P2P) per day, with a corresponding transaction value of €25.6. However, figure 2
demonstrates a co
suggestions by B. Fischer,
D. Gerdesmeier, C. Johansen, A. Lojschova, M. Morelli, B. Roffia, P. Spahn, P. Welz and the
participants of seminars at the European Central Bank and the University of Düsseldorf [...] endowed with
"money" (i.e. m=1) with probability p. Consequently, the probability of someone not
having money at his disposal (i.e. m=0) is 1–p. If we define Vm to be the payoff of an
agent with [...] good with utility U.
[ ]0 0 1 0φ
αδ ασ φ= + − + − + −V ßV (U C ) p max C ß(V V )
[ ]1 1 0 11αδ ασ ϕ= + − + − + −V ßV (U C ) ( p ) U ß(V V )
page
24
condition (i.e. maximised value of
suggestions by B. Fischer,
D. Gerdesmeier, C. Johansen, A. Lojschova, M. Morelli, B. Roffia, P. Spahn, P. Welz and the
participants of seminars at the European Central Bank and the University of Düsseldorf [...] endowed with
"money" (i.e. m=1) with probability p. Consequently, the probability of someone not
having money at his disposal (i.e. m=0) is 1–p. If we define Vm to be the payoff of an
agent with [...] good with utility U.
[ ]0 0 1 0φ
αδ ασ φ= + − + − + −V ßV (U C ) p max C ß(V V )
[ ]1 1 0 11αδ ασ ϕ= + − + − + −V ßV (U C ) ( p ) U ß(V V )
page
24
condition (i.e. maximised value of
suggestions by B. Fischer,
D. Gerdesmeier, C. Johansen, A. Lojschova, M. Morelli, B. Roffia, P. Spahn, P. Welz and the
participants of seminars at the European Central Bank and the University of Düsseldorf [...] endowed with
"money" (i.e. m=1) with probability p. Consequently, the probability of someone not
having money at his disposal (i.e. m=0) is 1–p. If we define Vm to be the payoff of an
agent with [...] good with utility U.
[ ]0 0 1 0φ
αδ ασ φ= + − + − + −V ßV (U C ) p max C ß(V V )
[ ]1 1 0 11αδ ασ ϕ= + − + − + −V ßV (U C ) ( p ) U ß(V V )
page
24
condition (i.e. maximised value of
suggestions by B. Fischer,
D. Gerdesmeier, C. Johansen, A. Lojschova, M. Morelli, B. Roffia, P. Spahn, P. Welz and the
participants of seminars at the European Central Bank and the University of Düsseldorf [...] endowed with
"money" (i.e. m=1) with probability p. Consequently, the probability of someone not
having money at his disposal (i.e. m=0) is 1–p. If we define Vm to be the payoff of an
agent with [...] good with utility U.
[ ]0 0 1 0φ
αδ ασ φ= + − + − + −V ßV (U C ) p max C ß(V V )
[ ]1 1 0 11αδ ασ ϕ= + − + − + −V ßV (U C ) ( p ) U ß(V V )
page
24
condition (i.e. maximised value of
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countries of the European Economic and Monetary Union (EMU) (U.S. Department of
the Treasury, 2013, p. 25). Krugman argues that Germany has done nothing to reduce its trade
surplus against EMU crisis [...] large German current account surplus was not regarded as a global problem
(Sengupta/Aizenman, 2010, p. 2). As the current account balance of the Euro area as a whole was
largely balanced from the beginning [...] current account balances within the Eurozone are often
considered as important (Obstfeld, 2012, p. 16).
3. The relationship between the current account and the capital account
An isolated view
n d u rs p rü n g l. Z in s b in d u n g b is 1 Ja h r u rs p rü n g l. Z in s b in d u n g vo n 1 -5 Ja h re n
u rs p rü n g l. Z in s b in d u n g vo n 5 -1 0 Ja h re n u rs p rü n g l. [...] n d u rs p rü n g l. Z in s b in d u n g b is 1 Ja h r u rs p rü n g l. Z in s b in d u n g vo n 1 -5 Ja h re n
u rs p rü n g l. Z in s b in d u n g vo n 5 -1 0 Ja h re n u rs p rü n g l. [...] ) im Euro-Währungsgebiet, Kasten 3, Monatsbericht März, 46-48.
Foà G., L. Gambacorta, L. Guiso, & P. E. Mistrulli (2015), The Supply Side of Housing
Finance, BIS Working Papers No 531, Dezember.
IWF
parentheses, are clustering on individual firms in the
case of the pooled model (1).
∗ p < 0.05, ∗∗ p < 0.01, ∗∗∗ p < 0.001
11
page
Figure 1: Coefficients on Time Dummies
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∗ p < 0.05, ∗∗ p < 0.01, ∗∗∗ p < 0.001
22
page
interaction. The columns to the right of the first column
Illmenau 2002.
Bosch, J.: Design and Use of Software Architectures. Harlow
2000.
Clements, P./Northrop, P.: Software Product Lines –
Practices and Patterns. In: The SEI Series in Software En-
gineering [...] 12/04
5
Dipl.-Kfm. Andreas Helferich, M.Sc., Stuttgart
Literaturempfehlungen:
Böckle, G./Knauber, P./Pohl, K./Schmid, K. (Hrsg.): Softwa-
re-Produktlinien: Methoden, Einführung und Praxis. Hei-
delberg
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effektiv realisiert werden.
Literatur und Quellenangaben
[1] Recum J, Wendl K, Vock B, Grützner P. A., Franke J.
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Radiology. 2004 Oct; 233 (1): 67–78. Epub 2004 Aug 18.
[3] Gebhard, F., Riepl, C., Richter, P., Liebold, A., Gorki, H.,
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in (3) we allow for a deterministic trend. R²: adjusted R²; SE:
standard error of regression; JB: p-value of Jarque-Bera normality test; VIF: (centered) variance inflation factor
with "x": all VIFs < [...] (DUM_FIN). Regressions include a constant. R²: adjusted R²; SE: standard error
of regression; JB: p-value of Jarque-Bera normality test; VIF: (centered) variance inflation factor with "x": all
VIFs < [...] uliaris τ -test does
not. However, the 10 % level of significance is only marginally exceeded (p-value: 0.15). All
these problems might be due to the fact that "medium" only consists of the one
Regensburg
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eiden
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rof. U
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92637 W
eiden
Digitale Fabrik
2005
Regensburg
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ort
Fachhochschule Am
berg-W
eiden
H
err P
rof. U
lrich M
üller
H
etzenrichter W
eg 15
92637 W
eiden
Digitale Fabrik
2006
Regensburg
Die Teilnahme ist kostenlos.
A
ntw
ort
Fachhochschule Am
berg-W
eiden
H
err P
rof. U
lrich M
üller
H
etzenrichter W
eg 15
92637 W
eiden
Digitale Fabrik
2007
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