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
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
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
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
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
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
fundamental one is that between inside and outside
money (see, e.g., Lagos, 2006).
4
Of course, the
liquidity provision of a central bank to its counterparties
[...] 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 [...] 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."
errors or a misspecification of the IS-curve
food daily, and I tried
different foods. The nightlife in Istanbul was a whole different era. Of course, all roads lead
to some clubs like The Beat, which is my favorite because of the western music
one pressure gauge on the wall determined for the
static pressure measuring. In CFD there are of course
many ways how to evaluate certain variables - an area
or a mass flow weighted average, simple average
the
smallest in the EU. Its very new economics departement has 24 employees and and there is, of
course, no separate research departement. The National Bank of Belgium has also no research
department [...] far, the highest ratio between the economic and research
staff and the total staff. This is, of course, a consequence of the fact that the ECB plays a key role
in formulating monetary policy, while national [...] professional life) were also counted.
17 Of course, not all international journals can be considered to be top, very good or good journals. These other
regions to the other ROIs. The time courses used
were the mean time courses of all voxels within a ROI.
Analysis A2 was a contrast analysis: The voxels mean
time course of one ROI (seed) was used as seed [...] this juncture, the
actual course of study is not considered in detail. In the
following study, the whereabouts of students, course
changers and drop-outs during the course of studies,
among others [...] rapidly changing frameworks. With the
introduction of new, basic bachelor courses and consec-
utive as well as part-time Master courses like “Medien-
informatik” (Media Informatics) (B.Eng.), “Industrie 4.0
evolution of currency in the
course of 2001/2002 presents evidence in this respect as currency hoarding
and foreign currency holdings were to a large extent already reduced in the
course of 2001. Aksoy and Piskorski
process makes imitation much more difficult
than the imitation of product features.
During the course of analysis it became clear that the choice of an
adequate service strategy, the effective management [...] for the
service idea. Asking if these potential customers are willing to pay
(and how much, of course) for the service offer may be important but
challenging. Well, there is still the open question:
two-digit classification).
Δw denotes the growth rate of the real hourly wage rate, which of course may influence
the employment demand of a firm. Since the wage rate of the individual firms are [...] discussion for a “correct” measurement of innovation is still
ongoing in the literature, we of course do not claim to have a perfect measure for
innovation here. Other innovation variables like R&D
Further it is to be examined whether the application of the
method in the velocity course in addition to the acceleration
course brings advantages. Finally, boundary parameters and
permissible centroid of area [...] one. Since the course of 1− ε1 is more constant, we conclude
that W̃−1 yields a suitable projection matrix. It is visible that
from 30dB, 1− ε1, 1− ε2, 1− η1, and 1− η2 have the same
course close to one [...] vehicle’s
position can be located in the rail network map. The course
of the shunting locomotive is given by the shunting order.
This means that the course of the shunting locomotive can
be extracted from the digital
1 This tendency was even intensified in the course of the Covid-19 pandemic, see Ashworth & Goodhart (2021)
and Rösl & Seitz (2021).
2 Schrooten [...] being a net exporter or net importer of banknotes within the euro area can even change
in the course of time. As a rough proxy for this effect, we take the net issues of the euro area
countries [...] 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
figure 8 for the case of France as
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