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ECB isn’t allowed by European law to finance the debt of euro area Member States. The “Bundesverfassungsgericht” brought the case to the European Court, which now has to judge if the ECB transgressed its [...] (ESM) is a permanent financing mechanism with the task to support euro area Member States by financing their loans in case they have problems to finance their debt in the private financial markets. [...] Mechanism (EFSM) and the European Financial Stability Facility (EFSF) were installed to help Ireland, Portugal and Greece to finance their public debt. The German State is part of the above mentioned financing

strategy to force their employees to leave the firm under strict EPL (Wasmer, 2006, and Boeris and van Ours, 2008). Agents with limited horizons could cling to non-satisfying jobs to avoid the [...] appropriate to analyze the determinants of suicide rates for both genders separately and to try to identify the determinants of the cross-country distribution of suicide rates or to use cross-section [...] of observations decreases to approximately 50% of the benchmark sample (table 3 and 4). The results are robust to these alternative definitions of our data, as well as to the sample adjustments.

rules (BRRD and SRM) to stabilize and to reorganize a struggling bank are presented in the following paper. The new instrument, the so called bail-in of investors and bank customers to avoid the bail-out [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] hren aussetzen könnte, ohne dass das Finanzsystem insgesamt gefährdet wäre (Stichwort: too big to fail).4 Vor dem Hintergrund der Auswirkungen der globalen Finanzkrise wurde der Finanzsta

rated securities. Furthermore the ECB has announced – if necessary –to start a quantitative easing program by buying state loans to fight against deflation in the euro zone. These measures will inflate [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] Aschaffenburg Germany ralph.hirdina@h-ab.de Abstract: The European Central Bank has announced to buy in a first step asset backed securities and mortgage loans for about 500 billion euros. The rating

Council meeting of November, the ECB has announced to widen its balance sheet by € 1 trillion. The volume of the balance sheet of the ECB should reach the level of 2012, nearly € 3 trillion. To reach that [...] the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in

Original: "Sustainable development is development that meets the needs of the present without compromising the ability of future genera- tions to meet their own needs."23 Daraus folgt, dass Nachhaltigkeit [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] auf das Grundprinzip für Nachhaltigkeit und Ökonomie. The Shared Value approach is a current test to bridge the gap between business and corporate responsibility. The question behind is about the re

Original: "Sustainable development is development that meets the needs of the present without compromising the ability of future genera- tions to meet their own needs."23 Daraus folgt, dass Nachhaltigkeit [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] auf das Grundprinzip für Nachhaltigkeit und Ökonomie. The Shared Value approach is a current test to bridge the gap between business and corporate responsibility. The question behind is about the re

Abstract The purpose of this paper is to propose a service development process that is adapted to manufacturing companies and to discuss its implication for companies with a focus on [...] are the impacts to the success? Revenue Model • For what value are customers really willing to pay? • For what do they currently pay? How? • How much does the service contribute to overall revenues [...] simultaneously, the consideration of a service offer to be an autonomous business model permits the firm to determine accountable actions and to balance internal capabilities and resources, an issue

Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] An important task of a risk-based customer rating (or synonym: value-based credit management) is to pool individual risk and reward information in a meaningful index. We define duration of risk as a [...] en, 3. Auflage, Pearson-Verlag. Panagiotidis, Elias (2014), Trade Credit Risk: From Monitoring to Management, Risikomanager 12/2104, S. 12 – 14. Schumann, Matthias (2014), Beiträge des Kredit

Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] fundamental rights of institutional investors like insurances and depositors, especially the right to make money with interests? Are losses of wealth by low or negative interest rates in the Eurozone [...] betrieblicher Altersversorgung für den GGF.” von Thomas Dommermuth 9 “Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?” von Heribert Popp und

Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] negative way. The same is true for students who completed a vocational training, before starting to study. Keywords: Engineer, collage graduate, academic success, academic census, probit models [...] betrieblicher Altersversorgung für den GGF.” von Thomas Dommermuth 9 “Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?” von Heribert Popp und

attributed to the normal response of currency holdings to the lowering of interest rates and to the increase in income from the government stimulus. The remaining 80% may be due to an increase [...] banknotes in circulation in the period from January 1991 to December 2001 corresponds to the volume of D-Mark banknotes outstanding (converted to euros with the irrevocably fixed exchange rates of 1 January [...] also report results for the aggregate currency-to-GDP ratio. The substitution effects with respect to electronic payments are largely confined to the demand for small denominations. Moreover, they

Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] D-63743 Aschaffenburg Germany ralph.hirdina@h-ab.de Abstract Anti-European sentiments seem to grow in the European Union. The euro crisis showed that the Euro-zone is not as stable as it should [...] betrieblicher Altersversorgung für den GGF.” von Thomas Dommermuth 9 “Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?” von Heribert Popp und

services is increasing. In order to achieve these ambitious revenue and profit goals many companies have to expand their service portfolio. In addition to that executives have to answer the question, whether [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] whether existing services generate profit and provide value to their customers. This paper deals with service portfolio management (SPM), which is a core function in industrial companies. Based on a comprehensive

unemployment is 3 to 1. In line with the demographic change this situation will become even more severe. In our study we want to shed light on getting a degree in engineering and to explore the reasons [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] betrieblicher Altersversorgung für den GGF.” von Thomas Dommermuth 9 “Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?” von Heribert Popp und

option, special attention is devoted to the estimation of the volatility for the underlying stock. We analyze observed daily yields for four different timeframes to estimate the resulting volatility [...] convertible bonds and is robust to small changes in the presumed risk free interest rate or dividend paid by the underlying stock. It is conceivable that this is due to the increasing popularity [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in

K. Barnes, R. Marateo, F. Pixy: Teaching and Learning with the Net Generation, www.innovateonline.info/pdf/vol3_issue4/Teaching_and-Learning_with_the_Net- Generation.pdf (2009) K. Ceymowa: [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] is integral part of their business and private life. However, employees of Gen. Y need support to strengthen their awareness about significance, correctness, completeness and plausibility of the

ized countries politicians and economists propose to abolish cash. The end of the cash area seems to be justified by two main arguments, namely to strengthen the efficiency of negative interest [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] interest rates implemented by the monetary policy of central banks and to fight against terrorism, tax avoidance and money laundering. Legal experts discuss if the abolishment of cash or legal restraints

area as well as in Germany is equivalent to 2.2 percent of GDP or about €700 per capita. Thus, stepping into deep negative interest rates turns out to be a very costly economic experiment, leaving [...] Negative Nominal Interest Rates: Three Ways to Overcome the Zero Lower Bound, NBER Working Paper 15118. Buiter, W. und E. Rahbari (2015), High Time to Get Low: Getting Rid of the Lower Bound on [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in

tests a concept to enable nowcasting forecasts for the German gross domestic product on the basis of bottom-up modeling. The combination of models used contributes a new approach to the current literature [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] g quality, a detailed interpretation of the economic situation also becomes possible. Compared to benchmark models, the prediction model results in few prognosis errors, which is particularly important

data migration as the process of perma- nently moving data from one database to another whereas the databases both belong to ap- plications”78. Eine Implementierung einer neuen Cloud-ERP-Lösung geht [...] Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] software solutions, companies have new options for providing the information infrastructure they need to do their business. Based on a concrete scenario in a corporate context and a structured analysis

although the latter to a lesser extent. In what follows, our aim is to use model-based techniques and judgmental approaches to detect these alternative episodes, and thereafter to estimate probabilities [...] compared to Kilian’s index of global economic activity and the index of OECD world industrial production. Stratford (2013) uses linear models to investigate several global indicators' ability to nowcast [...] rates in the advanced economies declined to a lesser extent compared to the emerging world in the Great Recession. In the former, growth rates declined to around -5%, while they did not turn into

Bernt Mayer 24 A Micro Data Approach to the Identification of Credit Crunches von Timo Wollmershäuser und Horst Rottmann 25 Strategies and possible directions to improve Technology Scouting in [...] betrieblicher Altersversorgung für den GGF.“ von Thomas Dommermuth 9 „Zur Entwicklung von E-Learning an bayerischen Fachhochschulen- Auf dem Weg zum nachhaltigen Einsatz?“ von Heribert Popp und

of up to −56.77%, which are related to a momentum crash (reversal) 12The scaled time index ts can be obtained from the original index to = 1, ..., T via ts = (b−a)[to −min to]/[max to − min to] + a [...] NYSE has reduced tick size only a few times: from 8th to 16th in June 1997 and from 16th to penny in January 2001. Comparing 1993 to 2000 with 2001 to 2008, Chordia et al. (2011) document a 75% decrease [...] investors declined from 48% to 22% from 1980 to 2007, while the share of open investment funds increased from 5% to 32%. Second, bonuses for investment bankers also lead to increased demand for high risk

Paris in September 2017 to reform die European Union in the six following areas: 1. A Europe, which guarantees security in all its dimensions, 2. A Europe, which reacts to the challenge of migration [...] the proposals of Emmanuel Macron. Both intend to strengthen Europe as an economic and monetary power by changing the European Stability Mechanism to a European Monetary Fund and by establishing a [...] which still do not have the Euro as a currency to complete the Eurozone as aimed by the European treaties. This paper discusses the legal steps to implement the proposals of Emmanuel Macron.