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Wie sind die deutschen Goldreserven entstanden und welche Rolle spielte Gold als Zahlungsmittel im Wandel der Zeiten? Welche Bedeutung hatten Goldreserven damals und heute? Mit diesem Buch werden die Goldbestände der Bundesbank den Lesern erstmals informativ und illustrativ so nahegebracht, als...
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This paper assesses the performance of monetary indicators in predicting euro area HICP inflation out-of-sample over the period since the start of EMU considering a wide range of forecasting models, including standard bivariate forecasting models, factor models, simple combination forecasts as...
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inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution … effects on real money holdings. Empirically, we show that cross-country differences in real balances are determined not only … by income differences, a standard determinant of money demand, but also by house price developments. Higher house prices …
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