ts between the cyclical fluctuations of government expenditure and of real GDP
(deviations from their trends) since 1980 and for the sub-periods before 2000 and after 2000.
A positive correlation between [...] between 0.22 and – 0.221. When comparing the deviations of expenditure-GDP ratios and of
real GDP from their trends we find negative correlation coefficients for the whole period. By
contrast, when using real [...] global recession Table 4 shows the fluctuations of real public
expenditure and of real GDP around their trend before and after the global recession in 2009.
In 2009, government spending in Africa (and
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
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
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
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
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
(see 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 [...] highlight 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 is of superior quality
(see 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 [...] highlight 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 is of superior quality
GREENHOUSE GAS EMISSIONS OF PRODUCTS . PAS 2050 & the
GHG Protocol Product Standard. A short guide to their purpose,
similarities and differences.
Zugriff am 23.01.2013 unter http://www.ghgprotocol
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
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 participants of seminars
at the Deutsche Bundesbank and the Oesterreichische Nationalbank for their
comments. In particular, we are indebted to M. Vogel for his contribution. The
opinions expressed [...] System 2 (CIS2) of the European
Central Bank, all of the Eurosystem national central banks provide
their issuance data on a monthly basis, including the average
volume of banknotes in circulation, the volume
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 participants of seminars
at the Deutsche Bundesbank and the Oesterreichische Nationalbank for their
comments. In particular, we are indebted to M. Vogel for his contribution. The
opinions expressed [...] System 2 (CIS2) of the European
Central Bank, all of the Eurosystem national central banks provide
their issuance data on a monthly basis, including the average
volume of banknotes in circulation, the volume
if the level of
real output rises above trend. The popularity of such rules stems from
their simplicity and their alleged robustness across a wide array of
macroeconomic models. In addition, the case for [...] gap as
well as to deviations of (expected) inflation and money growth from their
respective target values. Furthermore, their results suggest that the
monetary policy of the Bundesbank was characterised [...] output gap, even if there are no
shocks to money demand. One reason for their negative verdict on mone-
tary targeting is that their analysis abstracts from the problem of data
uncertainty. In fact, they
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
They usually hold a large proportion of their money holdings as trans-
actions balances, using these balances mainly as a buffer, while slowly adjusting
their portfolio composition. In addition, households’ [...] household M3 holdings are also found to be informative for price
developments in the euro area, giving their explanation a particular relevance for
monetary analysis (see European Central Bank, 2006, p. 18) [...] and the
own rate (Read, 1996). Chrystal and Mizen (2001) even include two interest rate
terms in their model, the rate on savings deposits minus a money market rate and
the spread between the rate on
5. Products derived from this software may not be called “OpenSSL” nor may “OpenSSL”
appear in their names without prior written permission of the OpenSSL Project.
6. Redistributions of any form
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
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
clinical disciplines use the system, on their level of experience and on the number of staff to
be trained. During these trainings, the users are, depending on their scope of responsibility,
being familiarized [...] hybrid OR in
operation is of major help in the planning process. Learning from their experience and
understanding their mistakes can help shorten the process for all involved staff
considerably.
[...] suite. A deep
understanding of the clinical applications, the current and future technology, and their
implications on workflows is needed for a sound room design.
2. Clinical applications in car
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
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
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
easy to recognize the origin of the various euro area coins
owing to their unique national backsides. As people clearly notice in their everyday cash
transactions, the national euro coins have become mixed [...] since
been prohibited by the US Treasury and does not seem to be an issue for euro coins owing to their
different metallic composition.
Diskussionsbeitrag / Discussion Paper
Jahrbücher f. Nation