Further, the tools of social scripts, cultural assimilators and critical incidents are investigated in their use to teach cul-
tural awareness. Students are given the opportunity to use these tools in both [...] managers can best deal with cultural differences and conflict in an effort to make themselves and their employees more effective in
global workplaces.
Lehrmaterial / Literatur
Teaching Material
the end of the programme, the student will be able to understand
technological developments and their impact, business and economic
relations as well as the relevance of cultural factors concerning
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 [...] 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
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 items is of superior
and the United States, which
aim to reduce the problems of mismatches between the duration of their assets and
liabilities. It is generally perceived that these regulatory changes will favor the [...] level, interest rates should be determined by the supply of and the
demand for loanable funds and their determinants including the production
opportunities in the economy (depending on technological [...] consider the monetary aggregates M1, M2 and MZM and construct growth rates
as well as money gaps as their difference between the actual development and
trend. And finally we take into account the stock
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 [...] 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
discussed.
The second section of Chapter II discusses various monetary policy strategies and their adequacy to
the Eurosystem. A monetary policy strategy is defined as the basic thrust of monetary [...] marginal lending facility and the
deposit facility. The individual instruments are described, and their effects characterised, using the
consolidated balance sheet, the "financial statement", of the
the level of real output
rises above trend. The popularity of such rules stems from their simplicity and their
good performance across a wide array of macroeconomic models. In addition, the case [...] change in the
output gap as well as to deviations of (expected) inflation and money growth from their
respective target values. Furthermore, the results suggest that the monetary policy of the
[...] mistakes in estimating the long-run relationships or that, despite the
medium-term orientation of their approach, policymakers still showed some response to
short-run fluctuations in money demand (even
cross-border chains of transactions, criminals are remarkably
adept at concealing the origin of their funds.
The goal of our paper is to shed light on the relationship between the size of the shadow [...] Segendorf's (2007) analysis of the
difference between households' incomes and the expenditures. In their view, this difference captures transactions in the
shadow economy which they find to be positively [...] unbalanced panel structure.8
The trend behavior of the variables included necessitates an analysis of their stationarity properties to determine an
appropriate specification of the empirical model. However
report may not be
suitable for certain investors depending on their specific investment objectives and time horizon or in the context of their overall financial situation. The investments discussed
may [...] explained in their entirety.
This information is given without any warranty on an "as is" basis and should not be regarded as a substitute for obtaining individual advice. Investors must make their own
d [...] investment in any instruments referred to herein based on the merits and risks involved, their own investment strategy and their legal,
fiscal and financial position. As this document does not qualify as an investment
money
supply. Instead, they adjust it to achieve a target for the in-
terest rate, and they adjust their interest-rate target in re-
sponse to movements in output and inflation.“ Oder etwa
Mehrling (2004 [...] sionspapiere, Nr. 01–06, Januar 2006.
Goodhart, C. A., What should central banks do? What should be
their macroeconomic objectives and operations, in: Economic
Journal, November 1994, S. 1424 – 1436.
Hafer
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
money supply. Instead, they adjust it to achieve a target for the interest rate, and they adjust
their interest-rate target in response to movements in output and inflation." oder etwa
Mehrling (2004
specific types of
crisis (technological crisis, 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 [...] 1992/93, the (geo-)political crisis after the
9/11 attacks in 2001 and the Euro crisis in
2010/11. In their nature, however, these crises
were effectively confidence crises and hence
do not differ greatly [...] might
reflect precautionary motives as commer-
cial banks in these countries also quickly
increased their vault cash.19 For the US
dollar, the euro and the Swiss franc, again,
foreign non-transactional
money supply. Instead, they adjust it to achieve
a target for the interest rate, and they adjust their interest-
rate target in response to movements in output and infla-
tion.“
Der Poole‘schen Tradition
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
a seminar at the Banque de France and especially the discussant
of the paper, L. Lalouette, for their input. The views expressed in this paper are those of the authors and should
not be interpreted as [...] households at the point of sale
(POS), i. e., it concentrates only on transactions balances. Their results show that in 2019
around 73 % of all payments at the POS were made with cash, with again [...] aspects of
cash demand. Bouhdaoui & Bounie (2012) compare different payment choice models in their
ability to replicate observed payment behaviour in France. Banque de France (2020) presents
banking supervision which function adds to their total staffing.
12 For most central banks the reason to combine research and conjunctural activities is related to their relative small
size. For some central [...] experience of the institutions
making up the Eurosystem and the fact that it is their constituencies who assess their
performance cannot be forgotten. In the case of the Eurosystem, some of the principles [...] contributors on topics which are of special interest to the OeNB. To ensure the high quality of
their content, the contributions are subjected to an international refereeing process. The
opinions are
explanatory variables) to identify business cycle turning points. Their model identifies only the Great
Recession episode as one of their regimes.8 As a result, they argue that looking at aggregate real [...] Although these models have sometimes problems in capturing the
recession regimes correctly, their forecasting accuracy is quite good.
ECB Working Paper Series No 2310 / August 2019 3
page [...] August 2019 4
page
growth, as seen since the onset of the financial crisis. However, their usefulness has fluctuated greatly
over time. Interestingly, since 2010, the nowcasts of world
euro area
and the US, which aim to reduce the problems of
mismatches between the duration of their assets and
liabilities. It is generally perceived that these regula-
tory changes will favour [...] policy,
the business cycle and inflation expectations.
Although the out-of-sample performance of their
model was good, they conclude that, ‘there are hints
of some instability in the last years.’ [...] Pradhan (2006) reject
the existence of a conundrum. They state that ‘a drop
of bond yields below their fair value such as the one
seen last year did not represent a break with past
pattern and, as such
equation can be
derived by inverting (5.2) and replacing output, the interest rate and the
residual by their equilibrium values (yt � y�t ; it � i�; ut � 0). The long-run or
equilibrium rate of inflation implied [...] Ltd 2001
F. Seitz and K.-H. ToÈdter
page
geer-seitz 7.6.01 14:30
output growth by their current estimates and forecasts, respectively, we obtain
an expression for the monetary target for [...] the
credibility of the inflation targeting central bank that publishes them, leading
agents to base their inflation expectations on other sources of information'
(Leitemo, 2000, p. 32). Moreover, in an o
(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
Bundesbank and the Österreichische Nationalbank for their valuable
insights. We would like to extend our special thanks to M Altmann, S Arz and M Vogel for their valuable
contributions. The opinions expressed [...] similar results, it is nevertheless advisable to additionally use
indirect estimates to examine their robustness. This approach has been taken in a separate
paper.
page
Nicht-technische [...] inpayments of these denominations at central banks in
countries where Germans typically spend their holidays that suggest that these balances are
closely connected with foreign travel. But, at just
n. „ ... investors will miss no opportu-
nity to test the resolve of governments in maintaining
their exchange rate target“23. Auslöser ist, dass eine
Währung unter Abwertungsverdacht gerät. Ein Spe-
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