The
resulting high interest payments to the banks since the change of the monetary policy
course due to high inflation, combined with low income for the high securities holdings,
led to massive
• the exemption from mandatory acceptance, but only if the natural person is "acting in the
course of a purely personal or household activity" (Art. 9 (c)).
In the list of basic services [...] surrounding this:
• Does this really include all natural persons or just those "acting in the course of a purely
personal or household activity"?76
• Are all legal persons also to be considered [...] approach to interest rates was initially
taken as the starting point (e.g. Nagel, 2022). This course has since been abandoned by both the ECB
and the EU Commission's Draft Regulation.
defined seed regions to
other ROIs. The time courses used were the mean time
course of all voxels within a ROI.
b) Contrast analysis: The voxels mean time course of one
ROI (seed) was used as seed and [...] line)
and left S1 cortex (blue line) the time course was
calculated for each itch or pain by females or males.
Figure 4: Examples of mean BOLD time course with corresponding
correlation coefficient [...] dis sipation and concerning
the maximum value of the extracted electric power.
In the further course of the project different options for
heat transfer optimization are tested to make the running
the growth of a poorly conducting interlayer between elec-
trocatalyst and support material. In the course of continuous
0.0 0.2 0.4 0.6 0.8 1.0 1.2
10µ
100µ
1m
10m
100m
1
500 Hz
5
in objectives and duration, are often associated
with a sharp and sustained redirection of the course of economic policy. An IMF supported
program is typically initiated when a country faces the [...] governance and
unsound fiscal balances. In the case of Ireland fiscal rescue packages that in the course of the
financial and economic crises were necessary to stabilize the domestic banking system
in objectives and duration, are often associated
with a sharp and sustained redirection of the course of economic policy. An IMF supported
program is typically initiated when a country faces the [...] governance and
unsound fiscal balances. In the case of Ireland fiscal rescue packages that in the course of the
financial and economic crises were necessary to stabilize the domestic banking system
been ill-advised to respond strongly to real-time
estimates of the level of the output gap. Of course, other potential feedback
variables, like the change in the output gap, the rate of inflation [...] in the MEs, we follow Orphanides et
al. (2000) and assume that they follow an AR(1) process. Of course, such a
first-order process represents a simplification of the true revision process in
the
in objectives and duration, are often associated
with a sharp and sustained redirection of the course of economic policy. An IMF supported
program is typically initiated when a country faces the [...] governance and
unsound fiscal balances. In the case of Ireland fiscal rescue packages that in the course of the
financial and economic crises were necessary to stabilize the domestic banking system
thereafter. The paper concludes that the significant reduction in currency demand in the
course of the financial crisis can be appropriately explained by a change in the variables that
historically [...] the hoards of "German" euro banknotes resulting from the crisis
were partially reduced in the course of 2009 in the sense that the growth rates in Germany
developed more in line with those in the
thereafter. The paper concludes that the significant reduction in currency demand in the
course of the financial crisis can be appropriately explained by a change in the variables that
historically [...] the hoards of "German" euro banknotes resulting from the crisis
were partially reduced in the course of 2009 in the sense that the growth rates in Germany
developed more in line with those in the
moderately. Therefore,
the deficit countries had to adjust their wages downward after 2008, which of course is more
painful and protracted than the alternative of a nominal depreciation (Darvas, 2012,
key question 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
moderately. Therefore,
the deficit countries had to adjust their wages downward after 2008, which of course is more
painful and protracted than the alternative of a nominal depreciation (Darvas, 2012,
key question 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
key question 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
for euro banknotes affected exclusively higher denominations (Rösl & Seitz, 2022a, 42).
Of course, domestic political crises can also lead to an increase in demand for foreign cash for
transactional [...] examples for recent inflationary crises and Libya, Iraq, and Afghanistan for political crises. Of
course, crises are usually complex in their nature and our classification is hence somewhat
arbitrary
644,635
page
21
calculations due to a lack of reliable data. In addition, it is of course also possible that German
€500 notes are used in the euro area. Nevertheless, these data are [...] 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, 2009a), such as Germany’s strong involvement
2008. A more detailed
analysis of cash demand and crises for single
currencies is provided in due course.
Figures 1 and 2, respectively, show the
annual growth rates of cash holdings at a
global and
017590α β= = . Thus, the probability that a €1 coin located in Germany
will flow abroad in the course of one year is 5%, and the probability that a coin located
abroad will flow to Germany 1.8%.
period thereafter. The paper concludes that the significant reduction in
currency demand in the course of the financial crisis can be appropriately explained by a
change in the variables that historically [...] the hoards of “German” euro banknotes resulting from the
crisis were partially reduced in the course of 2009 in the sense that the growth rates in
Germany developed more in line with those in the
been ill-advised to respond strongly to real-time estimates of
the level of the output gap. Of course, other potential feedback variables like the change
in the output gap, the rate of inflation [...] errors, we follow
Orphanides et al. (2000) and assume that they follow an AR(1) process. Of course, such
a first-order process represents a simplification of the true revision process in the data
Wolfgang Höhl (2008):
Interaktive Ambiente mit Open-Source
Software, Springer WienNewYork
Master Course Architecture (ARC)
http://www.fh-joanneum.at/
Serious Games und Sim Games: Neue Chancen für Gamer
calculate a "fair value" of bond yields. Figure 5 shows
that bond markets were overvalued in the course of 2005. But obviously the "disequilibrium"
was not unusually high in a historical perspective
calculate a "fair value" of bond yields. Figure 5 shows
that bond markets were overvalued in the course of 2005. But obviously the "disequilibrium"
was not unusually high in a historical perspective
derived from our cointegration relation. Figure 3 shows
that bond markets were overvalued in the course of 2004/2005. But obviously the
"disequilibria" is not unusual in historical perspective. Our