evidence of a shift from transactional to non-transactional demand for
cash over time.
5 In an international study (including France) Bagnall et al. (2016) find significant cross-country differences with [...] the unemployment rate, the corruption perception index for
France provided by Transparency International and different tax variables (direct and
indirect taxes, taxes of households and firms). [...] for the case of France as well as Ashworth & Goodhart, 2021, and Rösl & Seitz,
2021, for an international perspective). Interestingly, this is not only true for large, but also
for small denominations
weniger
dem Wettbewerb ausgesetzt ist, sind die Produktivi-
tätsfortschritte gering und die internationalen Unter-
schiede im Produktivitätsniveau fallen weniger ins Ge-
wicht, so dass es bei diesen Gütern [...] lson-Effekt, in: S. R e i t z (Hrsg.): Theoretische und
wirtschaftspolitische Aspekte der internationalen Integration – Fest-
schrift für Helga Luckenbach zum 68. Geburtstag, Berlin 2003, S. 97.
13 [...] und somit preiserhöhend17. Der Balassa-Sa-
muelson-Effekt hat somit auch Konsequenzen für die
internationale Wettbewerbsfähigkeit eines Landes: Ei-
ne höhere Infl ationsrate bei nicht�handelbaren Gütern
M3 in Deutschland . . . . . . . 157
Abb. III.2.5a: Internationaler Geldmengen-Preis-Zusammenhang (M breit) . . 159
Abb. III.2.5b: Internationaler Geldmengen-Preis-Zusammenhang (M eng) . . . 159
Abb [...] Zinsparität . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
Box III.2.2: Der internationale Preiszusammenhang . . . . . . . . . . . . . . . . . . . 131
Box III.2.3: Das EWS II (Wechs [...] (Wechselkursmechanismus II) . . . . . . . . . . . . . . . . . 134
Box III.2.4: Der € als internationale Anlage-, Transaktions- und
Reservewährung . . . . . . . . . . . . . . . . . . . . . . . . . .
Main tätig.
Prof. Dr. Gerhard Rösl lehrt Volks-
wirtschaftslehre, insbesondere
Geldpolitik, internationale Wirtschafts-
beziehungen und Ordnungspolitik
an der Ostbayerischen Technischen
Hochschule in [...] entweder die
Kapitalverkehrsfreiheit eingeschränkt werden oder aber al-
le wichtigen Währungen des internationalen Handels müs-
sen Geldscheine und Münzen abschaffen. Ein wenig realis-
tisches Szenario.
Alternativ [...] Vgl. M. C. van Hout, T. Bingham: „Surfi ng the Silk Road“: A study of
users’ experiences, in: International Journal of Drug Policy, 24. Jg.
(2013), H. 6, S. 524-529, http://dx.doi.org/10.1016/j.drugpo
Inflation?,
Bank of England Working Paper No. 152, February 2002.
Berk, J.M., Bikker, J.A. (1995): International Interdependence of Business Cycles in the
Manufacturing Industry: The Use of Leading Indicators [...] Leybourne, S.J., and P. Newbold (1997): Testing the Equality of Prediction Mean
Squared Errors, International Journal of Forecasting, 13, pp. 281-291.
Holman, J.A. (1998): GMM Estimation of a Money-in [...] Stationary State, The Economic Journal, 53, pp. 343-351.
Plosser, C.I., Rouwenhorst, K.G. (1994): International Term Structures and Real Economic
Growth, Journal of Monetary Economics, 33, pp. 133-155.
ECB
S., Laubach, T., Posen, A.S., Mishkin, F.S. (1999): Inflation Targeting:
Lessons from the International Experience, Princeton University Press, Princeton.
Bindseil, U. (2004): The Operational Target
Zwar beeinträchtigen Preissteigerungen bei nichthandelbaren Gü-
tern nicht unmittelbar die internationale Wettbewerbsfähigkeit eines
Landes. Jedoch haben sie – über Substitutionsprozesse und da der tertiä- [...] Kosteneffekt auf
die Preise von handelbaren Gütern und führt so zu einer Beeinträchti-
gung der internationalen Wettbewerbsfähigkeit. Oder anders ausge-
drückt: Es kommt zu einer Aufwertung des realen Wec [...] multilaterales System mit gegenseitigen Interventionsverpflichtungen.
Hier tritt mit der EZB ein international glaubwürdiger Akteur auf. „Die
Erfahrung lehrt, dass sich der Markt in schwierigen Zeiten vor
S e i t z : Europäische Geld-
politik, 4. Aufl ., Stutt gart 2004, Kap. II.3.
2 Zu einem internationalen Vergleich der
operativen Umsetzung der Geldpolitik siehe
K. R u c k r i e g e l , F. S e i
ausländisches Bargeld ver-
schaffen. Rogoffs Vorstellung hat also allenfalls dann Sinn,
wenn sich international zumindest die Länder mit den wich-
tigsten Weltwährungen (US-Dollar, Schweizer Franken, Ja-
panischer [...] Dis-
cussion Paper 374.
Kahn, C.M., J. McAndrews und W. Roberds (2005), »Money is Privacy«,
International Economic Review 46, 377–399.
Kimball, M. (2013), Breaking Through the Zero Lower Bound, 9
53, 183–97.
Bank for International Settlements (2009) Statistics on pay-
ment and settlement systems in selected countries,
CPSS Publication No. 88, Bank for International
Settlements, Basel.
Bartzsch [...] non-
banks relative to cash transactions in the two
countries is not too dissimilar (Bank for
International Settlements, 2009).
– The size of the shadow economy, in which
most transactions are settled [...] Zahlungssysteme
im Einzelhandel, EHI Retail Institute, Cologne.
European Central Bank (2011) The International Role of the
Euro, European Central Bank, Frankfurt am Main.
Feige, E. L. (1997) Revised estimates
for non-euro-area countries
1The shipments are processed by wholesale banks active in the international wholesale banknote market. The inpayments stemming from these shipments
correspond to the random [...] Biology.” ROME Working
Paper 2016-01, January.
European Central Bank. 2015. Frankfurt: The International
Role of the Euro, July.
Porter, R. D., and R. Judson. 1996. “The Location of U.S.
Currency:
System. International Finance discussion papers 657.
EHI Retail Institute. (2010). Kartengestützte Zahlungssysteme im Einzelhandel,
Cologne.
European Central Bank. (2011 July). The international role [...] The test statistic is asymptotically
standardized normal with 95% critical values of ±1.96.
international reputation of the euro and unstable developments
in the destination countries. Hence, foreign [...] France (D billion).
transactions at POS terminals is comparable (for more details,
see Bank for International Settlements, 2009).
- The size of the shadow economy, in which most transactions are
settled
System. International Finance discussion papers 657.
EHI Retail Institute. (2010). Kartengestützte Zahlungssysteme im Einzelhandel,
Cologne.
European Central Bank. (2011 July). The international role [...] The test statistic is asymptotically
standardized normal with 95% critical values of ±1.96.
international reputation of the euro and unstable developments
in the destination countries. Hence, foreign [...] France (D billion).
transactions at POS terminals is comparable (for more details,
see Bank for International Settlements, 2009).
- The size of the shadow economy, in which most transactions are
settled
commercial banks and cen-
tral banks, and his work has been published in
various national and international journals. He
also presides over Aktionskreis Stabiles Geld, an
association of economics professors [...] markets, especially cash in circulation,
and his work has been published in various
national and international journals. For many
years, Professor Seitz has worked as a consul-
tant for central banks, commercial [...] financial market crisis,
natural disaster) and their effects on the demand for
cash in an international context. As evidence from
the last 30 years shows, demand for cash increases
during periods
access to ordinary
central bank accounts. According to the latest survey by the Bank for International
Settlement, 90% of 80 surveyed central banks are currently engaged in CBDC work, mainly
[...] Seitz, Gerhard Rösl und Nikolaus Bartzsch
31 Labour Market Institutions and Unemployment. An International Comparison
von Horst Rottmann und Gebhard Flaig
32 The Rule of the IMF in the European Debt [...]
42 DO UNEMPLOYMENT BENEFITS AND EMPLOYMENT PROTECTION INFLUENCE
SUICIDE MORTALITY? AN INTERNATIONAL PANEL DATA ANALYSIS
von Horst Rottmann
page
43 Die neuen europäischen Regeln
Wahl einer festen Zinsbindung gegenüber einer variablen
Verzinsung bei Immobilienfinanzierungen international sehr unterschiedlich ist.8 Un-
einigkeit herrscht allerdings in der Literatur darüber, wie die [...] vorbehalten.
Open Access Dieser Artikel wird unter der Creative Commons Namensnennung 4.0 International Lizenz
(http://creativecommons.org/licenses/by/4.0/deed.de) veröffentlicht, welche die Nutzung [...] 836. OECD Publishing, Paris
Badarinza C, Campbell J, Ramadorai T (2017) What calls to ARms? International evidence on interest
rates and the choice of adjustable-rate mortgages. Manage Sci. https://doi
- the EME GDP aggregate is based on ECB data after 1995, which are linked up to IMF
International Financial Statistics data (in year-on-year growth rates) before 1995
- industrial production [...] 617-625.
Chauvet, M. & S. Potter (2010), Business Cycle Monitoring with Structural Change,
International Journal of Forecasting 6, 777-793.
Christiansen, C., J.N. Eriksen & S.V. Møller (2014), F [...] Predicting Cycles in Economic Activity, Board of Governors of the
Federal Reserve System, International Finance Discussion Papers Number 926, April
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System. International Finance discussion papers 657.
EHI Retail Institute. (2010). Kartengestützte Zahlungssysteme im Einzelhandel,
Cologne.
European Central Bank. (2011 July). The international role [...] The test statistic is asymptotically
standardized normal with 95% critical values of ±1.96.
international reputation of the euro and unstable developments
in the destination countries. Hence, foreign [...] France (D billion).
transactions at POS terminals is comparable (for more details,
see Bank for International Settlements, 2009).
- The size of the shadow economy, in which most transactions are
settled
am Main.
Prof. Dr. Gerhard Rösl lehrt Volkswirtschaftslehre,
insbesondere Geldpolitik und internationale Wirt-
schaftsbeziehungen an der Hochschule Regensburg.
Prof. Dr. Franz Seitz lehrt Volksw
Iacoviello (2019), Measuring geopolitical risk, Board of Governors of the Federal Reserve System,
International Finance Discussion Papers, December.
Deutsche Bundesbank (2009), The development and de [...] review of evidence,
in: Deutsche Bundesbank (ed.), War on cash: Is there a future for cash?. International Cash Conference 2017,
conference volume, Frankfurt, 92-146.
Ro sl, G. & F. Seitz (2022) [...] propose solutions to current economic
and financial challenges. SPBs serve to
increase the international visibility of
SUERF Members' analyses and
research.
The views expressed are those of the
9
Christina Beer, Dipl. Betriebswirtin
Studium der Betriebswirtschaft mit Schwerpunkt
Internationale
Finanzmärkte/Finanzdienstleistungen an der FH
Amberg-Weiden, Wirtschaftsprüfungsassistentin
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