output y is produced by employing the input factors labour L and
capital K . If firms minimize their production costs at given input prices and for a given level of
output, there exists under weak
ness 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
websites are prohibited.
In most cases authors are permitted to post their version of the
article (e.g. in Word or Tex form) to their personal website or
institutional repository. Authors requiring further [...] with εi,t and any earlier or
future shocks. If the companies decide simultaneously on their labor
demand and their innovation behavior, then the innovation variables
are endogenous in the sense that Ii [...] . This is true for innovation input as well as for innovation
output variables. Innovations show their positive effect on employment with a time lag and process
innovations have higher effects than product
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 [...] progress often remains unclear. Researchers have been
analyzing this task for a long time, and their analyses differ mainly in the methodology
and the data available. An historical overview about [...] 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
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
the classification pipeline, normalized
sequence names are automatically generated solely based on their underlying parameters, increasing the generalization ability of the classification model
while decreasing
cost function is defined with respect to the needle artifact by weighting image
pixels according to their position relative to the needle. By optimizing the cost function to find the
best fit of the model
52 Die einzelnen Datenanbieter “… maintain their own databases and give access to data via their
own servers based on their own license conditions.”[LCT-13b]
53 „Mit der Verabschiedung [...] representatives
convened to build consensus on guidance for performing a product GHG inventory within their
sector, but without the goal of enabling product comparison.“ [GHG-11a, S.24] Ein Beispiel findet
range of
practice-oriented topics along scientific leading trends
in their projects and have scientifically advanced them
with their partners in the university region, but also
nationally and internationally [...] specific application, which considerably
limits their flexibility. Security measures have not been
widely implemented due to cost and time pressure. Their
task within an ICS is to control and monitor physical [...] for embedded devices regarding their speed, RAM, and
flash size. This requires so-called “lightweight cryptogra-
phy.” However, the search for suitable algorithms and their
standardization is not completed
GPS
behavior. In their work, Jagadeesh et al. [6] make two ob-
servations: First, the deviation between two consecutive
GPS readings is much smaller than the actual GPS error.
In their experiments, the [...] performance. The analyses documented
in this paper show their large potential (above all in the
case of the Fargione method), but also their weaknesses
and the need for a more rigorous and broader [...] only cooperate with us
in projects, but also made the publication of this report
possible through their financial support! We wish you
an informative and exciting read of the Research Report
2023 of the
possible factor explaining
why the Fed is sometimes slow to increase interest rates and so smooths out their
fluctuations is that it wishes to avoid a conflict with the president and Congress over
increases [...] explained by a symbiosis
of central bankers who may have partially sympathised with RPD since it masked
their responsbility for short term interest rates, and academics who were too eager to
simplify away some [...] 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 policy (...), and the Federal Reserve will
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
German tourists
take a similar amount of coins with them when travel-
ling both from and to their home country.3 However,
as Bartzsch et al. (2011b) find, ‘German’ banknotes
also circulate in [...] participants of
seminars at the Deutsche Bundesbank and the
Oesterreichische Nationalbank for their comments.
The opinions expressed in this article represent
those of the authors and do not necessarily
the total volume of
circulation of these two smallest euro denomination
notes is only about 20%. Their calculations are based
on return flows of banknotes to the central bank and
simple accounting. Usually [...] of all notes (ES1 and
ES2) paid in to the above category 1 branches at a
specific month t* after their introduction from coun-
tries outside the euro area. Variable m stands for the
value of all ES2 notes
fulfil their obligations with vault cash. Credit
institutions are obliged to hold required reserves in relation to specific liabilities of their
balance sheets. They have to fulfil their reserve [...] In order to prevent all Board members from leaving at the same time, their terms of
office were staggered in the case of their first appointment. The terms of the Board members
are not renewable [...] of Applied Sciences Amberg-Weiden) and S. Luther (University of Applied Sciences Nuremberg)
for their valuable support.
page
1
The Eurosystem and the Federal Reserve System Compared: Facts
TIPS-money
This means that commercial banks first have to transfer money from their TARGET-PM
accounts to their TIPS-DCA before they can use it for instant payments (see figure 8a). The
time [...] €32bn (End of 2021)
page
the ECB.3 Commercial banks, are free to produce book money at their will as long as it is
in line with general supervisory regulations.4 The issuance of private e-money [...] intermediaries are the owners of CBDC accounts and handle retail payments for
the central bank on their own accounts are obviously not being pursued any further.
Nonetheless, financial intermediaries
necessarily represent those of the Swiss National Bank.
Working Papers describe research in progress. Their aim is to
elicit comments and to further debate.
COPYRIGHT©
The Swiss National Bank (SNB) [...] via the internet, etc.) for
non-commercial purposes and provided that the source is menti-
oned. Their use for commercial purposes is only permitted with
the prior express consent of the SNB.
General [...] of US dollars. Central banks also have an interest in monitoring cash develop-
ments because of their role in operating the payment system. If banknotes are predominantly
demanded for hoarding purposes
websites are prohibited.
In most cases authors are permitted to post their version of the
article (e.g. in Word or Tex form) to their personal website or
institutional repository. Authors requiring further [...] , the European Central Bank and the University of Münster as well
as two anonymous referees 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 Euro-
pean Central Bank that emerge from the cross-border flow of interbank
Evans, 2005, among
others). However, Beck & Wieland actually base their
assumption on a couple of studies supporting their view
of relatively long-lasting misperceptions (see, e.g.,
Orphanides [...] financial intermediaries' role in determining the price of
risk. As these expand their balance sheets, their risk-
bearing capacity increases and risk premiums fall.
Thus, balance sheet quantities [...] various financial
intermediaries and their respective balance sheet
quantities. First, the information provided by institutions
that are marking-to-market their balance sheet items is
of superior
step, we use the
selected monetary and credit variables within different VAR models, and compare their forecasting
properties against a benchmark VAR model with GDP and the term spread. Our findings suggest [...] holding for Divisia money; Aksoy and Piskorski (2005; 2006) exclude
foreign holdings of cash in their analysis. In contrast, the older literature on the US economy usually
found that official monetary [...] June 2015 5
page
M2 and lagged growth rates of GDP) and t is a white noise error term. Their general conclusion is
that the term spread is especially useful in predicting real GDP growth
candidates for foreign holdings. By contrast, in the subset of
the other countries considered in their study, the tax ratio has a much larger
and significant effect, especially for high denomination notes [...] discount factor and
p(*) is the home (foreign) price level. Residents of the foreign country de-
mand their own currency cuf and the (stable and widely accepted) currency
cu. The variable cu
f
* represents [...] to the foreign country. Residents of this country hold both
the home currency (the euro) cu and their legal tender cu
f
. In order not to
overcomplicate issues we do not take into account possible
that the indicators are most helpful during periods of large swings in
world growth. However, their usefulness fluctuates greatly over time. The only paper which
addresses turning points directly [...] dependent variables used. Following this, section 3 introduces the Probit
models and presents their results. Section 4 summarises and concludes.
2. Data
We use seasonally-adjusted quarterly
interested in gradually approaching the target rate.
Table 1: Monetary targets and their implementation
in %�
�
�
�
�
�
�
�
�
Target: growth of the central bank money [...] alternative asset is regarded as opportunity costs. The so-called special savings facilities with their higher rates of interest are included explicitly in the own return (since the mid eighties). The yield [...] precise knowledge of the transmission process of monetary stimuli. If monetary targets (including their determinants) are not only applied in the internal decision-making process but when these targets
many changes are taking place quite rapidly or have already
been factored by market players into their decisions. These changes involve institutional aspects, the
operational level of the money market [...] also for persons working at
banks and other financial sector institutions who seek to deepen their knowledge of European
monetary policy.
We wish to thank Dr. Caroline Willeke of the Deutsche
6+7/2004, 939-957.
54
page
Reitzig, M./Henkel, J./Heath, Ch.: On Sharks, Trolls, and Their Patent Prey - Unrealistic
Damage Awards and Firms’ Strategies of “Being Infringed”, Präsentation [...] Tagung an der WU Wien am 27.10.2006.
Reitzig, M./Henkel, J./Heath, Ch.: On sharks, trolls, and their patent prey - Unrealistic dam-
age awards and firms’ strategies of “being infringed”, in: Research