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the relationship of the monetary aggregates to spending, the behavior
of the aggregates relative to their annual ranges will likely be of limited use in guiding po-
licy (...), and the Federal Reserve will
patterns exist and their impact on individuals is
confirmed. Causes of abberrations of organisational steering mechanisms are
discussed. Future trends of organisations and their impact on pathological
beginning of their diffusion, which could be very disappointing for those who act as early
adopters. Back in 1995 Gartner Inc. first described this effect with it′s “Hype Cycle”. Ac-
tually in their Hype
employ classic t-tests casting some doubt on the statistical reliability of their results
because it is well-known that their use is critical in the presence of typical stock return characteristics (e. [...] has been directed to the scientific analysis of calendar
effects in stock market returns because their identification may allow the implementation of profitable in-
vestment strategies (see Lucey and Pardo [...] effect that attributes bad luck and thus low or negative returns to this specific calendar day. In their seminal
article, published in the prestigious Journal of Finance, Kolb and Rodriguez (1987) found
problems like the
sovereign debt crisis mainly due to their inability to enforce EU member countries to reduce
their budget deficits and to their failure to force EMU members to comply with the rules [...] the IMF elaborated the
economic adjustment programs for these economies and closely monitored their progress
through quarterly reviews based on economic missions.
The active role of the IMF [...] participate
in the rescue programs? Was it a sign of weakness of the European institutions to solve their
problems alone and/or did the Europeans want to use the outstanding expertise of the IMF in
problems like the
sovereign debt crisis mainly due to their inability to enforce EU member countries to reduce
their budget deficits and to their failure to force EMU members to comply with the rules [...] the IMF elaborated the
economic adjustment programs for these economies and closely monitored their progress
through quarterly reviews based on economic missions.
The active role of the IMF [...] participate
in the rescue programs? Was it a sign of weakness of the European institutions to solve their
problems alone and/or did the Europeans want to use the outstanding expertise of the IMF in
Ours (2004) Does the Recent Success of Some OECD Countries in
Lowering their Unemployment Rates Lie in the Clever Design of their Labour Market
Reforms?, Oxford Economic Papers, 56, 621 - 642.
Bertola [...] insurance system is generous, trade unions may
down weight the disutility of unemployment for their members and prefer higher real wages
for the employed. Employment will be affected negatively [...] unemployment
benefits must incorporate these aspects, because the OECD countries differ widely in their
taxation and eligibility conditions of unemployment benefits.
Tax burden on labour income
participants of seminars
at the Deutsche Bundesbank and the Oesterreichische Nationalbank for their valuable comments. In
particular, we would like to thank S Arz for his contributions. The opinions [...] central banks in the euro area are connected to TARGET2. There are no constraints on the size of
their balances vis-à-vis the European Central Bank that emerge from the cross-border flow of interbank [...] is again an appropriate reference country as, during the time
when both Germany and France had their national currencies, there were no major differences
between the two with regard to domestic banknote
participants of seminars
at the Deutsche Bundesbank and the Oesterreichische Nationalbank for their valuable comments. In
particular, we would like to thank S Arz for his contributions. The opinions [...] central banks in the euro area are connected to TARGET2. There are no constraints on the size of
their balances vis-à-vis the European Central Bank that emerge from the cross-border flow of interbank [...] is again an appropriate reference country as, during the time
when both Germany and France had their national currencies, there were no major differences
between the two with regard to domestic banknote
sectional innovation survey. Their results show that innovating firms (and innovative
sectors) have created more new jobs than non-innovating firms (less innovative sectors).
Their results suggest that [...] economic
measures is extensive. Researchers have been analyzing this task for a long time, and their
analyses differ mainly in the methodology and the data available. What we will concentrate
[...] between these two points in time. Brouwer et al.
(1993) are in this line of literature with their analysis of Netherlands data of 1984 and
1989. The authors show a negative effect of total R&D
Miller and Volker (1984) and Arabsheibani (1989) base their analysis on compar-
isons between the salaries of workers in occupations relevant to their educational qualification
to those with the same [...] However, over time and depending on how fast employers learn about the
true productivity of their employees, their importance (and hence the signalling value of education)
diminishes. The faster they learn [...] firms are quick in adjusting their expectations.
A slightly different approach is tested by Albrecht and van Ours (2006) who compare formal with
informal hiring methods. Their hypothesis is that firms
member countries. Reciprocally, foreign companies who want to distri-
bute their products in China have to register their marks or logos with the Chinese
[...] owners may wish to consider registering
their copyright ownership at China’s National Copyright Administration (NCA) in order to
establish evidence of their ownership.42
In 1998, China established [...] organizations will not copy their innovations. Therefore, the lack
of trust generated by the deficiencies of law does not motivate innovators and scientists
to share their knowledge.
IT often
hiness
is approximated by firm–specific factors, e.g. the firms’ assessment of
their current business situation and their business expectations. After
controlling for the banks’ refinancing costs, which [...] problem by looking at the characteristics of
firms that observed reductions in their bank credit volumes. However, since
their dependent variable was credit volume, the identification problem still re- [...] business (statebus) and
their business expectations for the next six months (comexp) as a proxy for the
quality of the borrower. The survey respondents can characterize their state
of the business
When leaders keep harmony in mind and take care of their subordinates, employees feel
concord in their company. Leaders express harmony by their behavior and set a good
example which influences [...] , they generally have
cooperated and shared ideas, which they would usually incorporate with their own.
During the Industrial and Modern Ages, Chinese philosophy began to integrate the
concepts [...] harmonious corporate culture
Wujin (Wang, 2007); corporation should be concerned about employees and their families
(Renbo Chen, 2007). Some viewpoints relate to institutional culture, for example, building
and the United States, which
aim to reduce the problems of mismatches between the duration of their assets and liabilities.
It is generally perceived that these regulatory changes will favor the [...] policy, the business cycle and inflation expectations. Although the out-of-sample
performance of their model was good, they conclude that, "there are hints of some instabilities
in the last years" [...] Pradhan (2006) find that a conundrum no longer exists. They
state that "a drop of bond yields below their fair value such as the one seen last year did not
represent a break with past pattern and, as
instruments, do not have to care for their financial standing.
Therefore, they can undertake more risky investments and their customers, assured about insuring
their means, can be more passive. The [...] Compensation Directive 1997/9/EC – ICD.
This Directive obliges all member countries to establish on their territories at least one obligatory
system. Partial risk transfer means that the protection concerns [...] of the importance of the globalization process and consequently other
risks, should also model their investor protection systems.
2. Why should small investors be protected?
Keeping
rising fund
volumes SWFs began to diversify their assets.
As some SWFs started to disclose their investments one can draw a clearer picture of their
behaviour and strategy even if much remains [...] immediate call on their assets. Their
investments are normally unleveraged and they have an interest in pursuing portfolio
reallocations gradually to limit adverse price effects of their transactions [...] found in
table 1. Table 1 contains the size of the funds, their origin (commodity or non-commodity
based), as well as the year of their inception.6 The ten largest funds combined have a volume
of tropical and boreal forests is to be valued not only because of their capacity to
sequester carbon, but even more so because of their capacity to regulate the hydrological cycle.
• Water, energy [...] proceed. The resilience
of the climate system is greatly related to human populations, their numbers and their consumer lifestyles.
While it is desirable that wealth will be shared more equally among [...] efforts must be
made to sustain its auto-regulative capacity.
• The resilience of societies and their economies should be strengthened through robust decisions
in response to global changes.
• The
digen. „… investors will miss no opportunity to test the resolve of go-
vernments in maintaining their exchange rate target.“20 Auslöser ist, dass
eine Währung unter Abwertungsverdacht gerät. Ein Spekulant
the question (firms were asked whether ‘labour-saving technical progress’ had an
influence on their employment plans). König/Buscher/Licht (1995), on the other hand, find a
positive effect of process [...] observations is also the basis for the econometric estimation.
15 König/Buscher/Licht (1995) use for their study the Mannheim Firm Panel of the Centre for European
Economic Research (ZEW), which contains similar
comprise the fees, possible loss in interest income and
the cost of providing their own resources (in particular, their own time). In this section,
an overall distinction is generally only made between [...] suppliers and costs for consumers. The suppliers, in turn, must meet
their expenditure for providing payment transaction services from their earnings. In
addition to the fees which they have to pay to payment [...] the
“elasticity of demand of customers”, whereby the banks are able to increase their inter-
est revenue or reduce their interest costs. This not only applies to current accounts
which are usually no
process
may differ substantially from their ex-post revised values. Real-time
uncertainty about key variables, like actual and potential output (and their
rates of growth), opens up a role for [...] and Beck and Wieland (2007, 2008) all restrict their
attention to optimal discretionary policy. Our interest in simple rules is
motivated by their potential advantages over discretionary policy. [...] that the interpretation of the
available data often depends on the assessment of their development relative
to their trend or long-run equilibrium levels that are unobservable and can
only be estimated
money supply. Instead, they adjust it to achieve a target for the interest rate, and they adjust
their interest-rate target in response to movements in output and inflation." oder etwa
Mehrling (2004
expectation of rising oil prices could, for example, prompt
the industrialized countries to increase their inventories. Security considerations
could also play a role in this respect.
We augment this [...]
oil prices follow a stochastic trend, they must all follow the same trend irrespective of
their maturity, i.e. the price differences between (arbitrarily selected) price pairs are
stationary [...] those of a random walk without drift or the optimised
ARIMA model.
10 Reitz et al. (2009) show in their analysis that oil price forecasts on the basis of survey data from
Consensus Economics never beat