euro banknotes circulating in Germany have been put
into circulation by the Deutsche Bundesbank. Of course, due to
4 For countries importing foreign cash, see Feige (2003).
5 However, estimates in literature [...] seems to be a special demand for
banknotes issued by the Deutsche Bundesbank which has grown
in the course of time. Fig. 4 shows that the evolution over time
of the German issuance was not only more dynamic [...] these results is why foreign
demand for euro banknotes is primarily met by Germany. There are
of course a number of historical reasons (Deutsche Bundesbank,
2009), such as Germany’s strong involvement
the
software installed on these devices) and / or the service providers that store Bit-
coins. Of course there may be innovations that will help to contain security
problems. But it is a pipe dream to [...] achieve this. As Hernandez et al.
(2016) report, this aspect is important for many cash users.
Of course, it is conceivable that an anonymous electronic means of payment
could be created. Currently, Bitcoin [...] (2014) and Cusbert / Rohling (2014) who analyse the Lehman ef-
fect for Spain and Australia.
20 Of course, other factors were at work, too. The German government, for instance,
declared deposits as safe –
receive the best service possible outside of our
business hours. The protection of your data is of course ensured.
** Calls made from German landlines and mobile phones are free of charge for you.
***
The most fundamental one is
that between inside and outside-money (see, e.g., Lagos, 2006). Of course, the
liquidity provision of a central bank to its counterparties – conducted via so-called
[...] this disequilibrium is
identified, the inflationary risk does not necessarily materialise.11 Of course, there are
factors that temporarily have the potential to induce agents holding more (or less) [...] to have at the moment is one.” (Nelson, 2003, p. 1040). Similarly, Brunner
(1969, 26) states: “Of course, it is not money as such which drives up prices.”
page
- 9 -
money than they
The most fundamental one is
that between inside and outside-money (see, e.g., Lagos, 2006). Of course, the
liquidity provision of a central bank to its counterparties – conducted via so-called
[...] this disequilibrium is
identified, the inflationary risk does not necessarily materialise.11 Of course, there are
factors that temporarily have the potential to induce agents holding more (or less) [...] to have at the moment is one.” (Nelson, 2003, p. 1040). Similarly, Brunner
(1969, 26) states: “Of course, it is not money as such which drives up prices.”
page
- 9 -
money than they
hoard-
ing purposes, the demand for large denominations would
increase more than for small ones.
Of course, this simple reasoning rests on a num-
ber of assumptions. First, one has to identify a base
year [...] share based on a comparison of the actual and theoreti-
cal lifespan of a banknote denomination. Of course, the
lifespan of a banknote is determined by many factors such
as the frequency with which it is [...] to have had an impact on the hoarding share
of the CHF 100 note, which increased only later in the
course of the euro area crisis.27 From the early 1980s to the
late 2000s, the hoarding share for the CHF
speed for
maximum efficiency varies slightly between 23,000 rpm and 24,000 rpm. However, the course for the lowest
pressure ratio (PR = 12.6) is not reasonable. The measured points at 22,000 rpm [...] pressures. Hence, 1D-design efficiency calculations with measured turbine
inlet data confirms the courses of the measured efficiency curves. However, relative deviation from ideal gas
is only half of [...] points more efficient than
their competitors in the comparable power class of around 10 kW. Of course, turbines pressure ratios must
be taken into account, which is significantly lower for Kaczmarczyk´s
hoarding purposes,
the demand for large denominations would increase more than for small ones.
Of course, this simple reasoning rests on a number of assumptions. First, one has to iden-
tify a base year [...] share based on a comparison of the
actual and theoretical lifespan of a banknote denomination. Of course, the lifespan of a banknote
is determined by many factors such as the frequency with which it [...] have had an
impact on the hoarding share of the CHF 100 note, which increased only later in the course
of the euro area crisis.27 From the early 1980s to the late 2000s, the hoarding share for the
hoarding purposes,
the demand for large denominations would increase more than for small ones.
Of course, this simple reasoning rests on a number of assumptions. First, one has to iden-
tify a base year [...] share based on a comparison of the
actual and theoretical lifespan of a banknote denomination. Of course, the lifespan of a banknote
is determined by many factors such as the frequency with which it [...] have had an
impact on the hoarding share of the CHF 100 note, which increased only later in the course
of the euro area crisis.27 From the early 1980s to the late 2000s, the hoarding share for the
thank JoÈrg Clostermann and Stefan Kuhnert for helpful
comments. All remaining errors are ours, of course.
REFERENCES
Brand, C. and N. Cassola (2000), `A Money Demand System for Euro Area M3', ECB
pandemic starting at the beginning of 2020 has once again proven the importance of cash. In the
course of the crisis, cash holdings have increased worldwide (see, e. g., Ashworth & Goodhart, 2021, and
to explaining cumulative returns in a 4-week
event window around that date.
However, in the course of escalating sanctions against Russia from Western coun-
tries, a growing number of firms decided [...] by the losses of major stock indices on February 24, 2022. E.g. the German
DAX lost ∼5% in the course of the day, UK’s FTSE100 about 3.8% and the Polish WIG more than 10%.
6
page
may yield [...] conclude that
the described insurance-like effect of sustainable stocks is omnipresent in the course
15
page
of such an extreme event and it may also depend on the event’s nature and phase
negative (i = –3%). The values of
9 Of course, in practice there are a lot of different alternatives such as precious metals or foreign cash as [...] direct interest rates on cash
equivalent to nominal capital market rates (s = r + π > 0). Of course, also an appropriate
combination of deflation and positive interest rates on cash can be chosen [...] assets
of private households in Germany
In 2005, the real yield was still at 4%. In the course of the global financial crisis, it has fallen
sharply and has subsequently recovered. On average
und Prüfungsleistungen der einzelnen Lehrveranstaltungen sind unter den Bezeichnungen „course syllabi“ oder „course descriptions“
öffentlich zugänglich dargelegt. Die Hochschullandschaft ist stark heterogen
Standort: Amberg und Weiden
Englischer Fachtitel English for Engineers UNIcert® II, Business English, course 1 and 2
Modulverantwortliche/r Marian Mure
Zugangsvoraussetzungen
Einstufungstest oder [...] Amberg und Weiden
Englischer Fachtitel English for Engineers UNIcert® II, Technical English, course 3 and 4
Modulverantwortliche/r Marian Mure
Zugangsvoraussetzungen
Einstufungstest oder [...] Human Resources, Finance, Trade, Current
Issues…
Lehrmaterial New Advanced Language Leader Course Book, Lektion 1-12
Aktuelle Artikel aus der englischsprachigen Presse und Medien
Lehrmethoden
Standort: Amberg und Weiden
Englischer Fachtitel English for Engineers UNIcert® II, Business English, course 1 and 2
Modulverantwortliche/r Marian Mure
Zugangsvoraussetzungen
Einstufungstest oder [...] Amberg und Weiden
Englischer Fachtitel English for Engineers UNIcert® II, Technical English, course 3 and 4
Modulverantwortliche/r Marian Mure
Zugangsvoraussetzungen
Einstufungstest oder [...] Human Resources, Finance, Trade, Current
Issues…
Lehrmaterial New Advanced Language Leader Course Book, Lektion 1-12
Aktuelle Artikel aus der englischsprachigen Presse und Medien
Lehrmethoden
Standort: Amberg und Weiden
Englischer Fachtitel English for Engineers UNIcert® II, Business English, course 1 and 2
Modulverantwortliche/r Marian Mure
Zugangsvoraussetzungen
Einstufungstest oder [...] Amberg und Weiden
Englischer Fachtitel English for Engineers UNIcert® II, Technical English, course 3 and 4
Modulverantwortliche/r Marian Mure
Zugangsvoraussetzungen
Einstufungstest oder [...] Human Resources, Finance, Trade, Current
Issues…
Lehrmaterial New Advanced Language Leader Course Book, Lektion 1-12
Aktuelle Artikel aus der englischsprachigen Presse und Medien
Lehrmethoden
want the central bank to put more emphasis on other objectives, such as reducing unemployment. Of course, this does not mean that the objective of achieving and maintaining price stability should be interpreted [...] even announced to publish an inflation and growth forecast of the Bank in the near future. But, of course, transparency does not mean publishing the maximum amount of information available.
num-Doc [...] Governing Council and a coherent summary of the information upon which decisions are based. But of course, transparency does not mean publishing the maximum amount of information available.
num-Doc_Paragraph
accounting exchange on the liability
side of the balance sheet of the e-money institution. Of course, e-money schemes can also
be “software-based”. In that case, e-money is still stored in a decentral [...] payments in this case are very similar to credit transfers of commercial
18 E-money could, of course, also be created in exchange for cash at special terminals.
page
bank book money.
[...] working day until final settlement.
page
destroyed although total bank liquidity does, of course, not change (see figure 8c).
c.) TIPS-based accounting system with e-money elements for the
accounting exchange on the liability
side of the balance sheet of the e-money institution. Of course, e-money schemes can also
be “software-based”. In that case, e-money is still stored in a decentral [...] payments in this case are very similar to credit transfers of commercial
18 E-money could, of course, also be created in exchange for cash at special terminals.
page
bank book money.
[...] working day until final settlement.
page
destroyed although total bank liquidity does, of course, not change (see figure 8c).
c.) TIPS-based accounting system with e-money elements for the
Thus, the losses are smaller and the efficiency is higher than in an axial impulse
turbine. Of course, this benefit does have a disadvantage: the cantilever „quasi-impulse“ turbine
requires a slightly
Thus, the losses are smaller and the efficiency is higher than in an axial impulse
turbine. Of course, this benefit does have a disadvantage: the cantilever „quasi-impulse“ turbine
requires a slightly
lending in
the interbank market. „ Ähnlich argumentiert Papadia
(2005, S. 51) für das Eurosystem: „Of course liquidity
changes have an effect on interest rates but the logical flow
is not at all changing liquidity
The most fundamental one is
that between inside and outside money (see, e.g., Lagos, 2006). Of course, the
liquidity provision of a central bank to its counterparties – conducted via so-called
[...] this disequilibrium is identified, the
inflationary risk does not necessarily materialise.9 Of course, there are factors that
temporarily have the potential to induce agents holding more (or less) [...] happen to have at the moment is one." (Nelson, 2003, 1040). Similarly, Brunner
(1969, 26) states: "Of course, it is not money as such which drives up prices."
page
7
neither claims a direct
The most fundamental one is
that between inside and outside money (see, e.g., Lagos, 2006). Of course, the
liquidity provision of a central bank to its counterparties – conducted via so-called
[...] this disequilibrium is identified, the
inflationary risk does not necessarily materialise.9 Of course, there are factors that
temporarily have the potential to induce agents holding more (or less) [...] happen to have at the moment is one." (Nelson, 2003, 1040). Similarly, Brunner
(1969, 26) states: "Of course, it is not money as such which drives up prices."
page
7
neither claims a direct