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Employment Effects of Innovation at the Firm
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Labour Market Institutions and
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auslösen. So hat die EZB im Januar 2002, als die Nachfrage nach neuen
Euro-Banknoten stark unterschätzt worden war, durch Feinsteuerungsoperationen zwei-
mal für Liquidität am Markt gesorgt. Hatte die EZB bis
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Eurosystem versus Federal Reserve System – ein kritischer Vergleich
unter
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, namentlich der deutschen
Öffentlichkeit, um Ängste zu beschwichtigen, beschworen worden
war, so angewandt worden, dass sie einer gerichtlichen Überprüfung,
falls diese stattgefunden hätte, nur schwer [...] Board zum
Euro. Zum 28.6.2004 sind beide Ländern mit ihrem
Currency Board in den WKM II aufgenommen worden.
Zudem trat zu diesem Zeitpunkt auch Slowenien dem
WKM II bei. Estland und Litauen haben dabei
only VARs in first differences are able to
outperform the benchmark.
JEL: E41, E52, E58
Key words: Money; business cycle; forecast comparison; VAR models.
4 ECB • Work ing Pape r No 254 •
the liquidity supply should be non-correlated (orthogonal) to those specific
variables. In other words, counterparties should be able to predict the liquidity management
decisions, except for some unp [...] a settlement day and if t+6<T:
(B)
If day t is a settlement day and if t+6>T:
(C)
In words: Whenever the central bank does not settle a new open market operation, as on all days
except settlement
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Deutschland alles Bargeld im Inland befände, müßten pro Person Ende 1994
permanent 2.780 DM gehalten worden sein, was pro Vier-Personen-Haushalt 1 1.I20 DM
ausmachen würde. Dabei hat sowohl die nominale [...] durch die deutsche Einheit und die
Öffnung Osteuropas nach oben verändert bzw. sogar verzerrt worden. Wird diese bei der
Analyse weggelassen und die Schätzung nur bis zum zweiten Quartal 1990 (N [...] ung pro Kopf von 625 DM.44 Dieser Betrag dürfte ausschließlich fur Trans-
aktionen verwendet worden sein. Nach Korrektur f i r den Unterschied im Lebensstandard
zwischen West- und Ostdeutschland
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- Absatzorient ierte Variablen
Die Absatz- und Marktorientierung ist eines der wichtigsten
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Direkte und indirekte Beschäftigungseffekte
von In
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