The Committee on Payment and Settlement Systems (CPSS) is publishing this comprehensive glossary of payment system terminology as a reference document for the standard terms used in connection with payment and settlement systems. The terms have been published in the reports of the CPSS, the...

Recent attempts to incorporate optimal fiscal policy into NewKeynesian models subject to nominal inertia, have tended to assume that policymakers are benevolent and have access to a commitment technology. A separateliterature, on the New Political Economy, has focused on real economies...

In practice, central banks have been confronted with a trade-off between stabilising inflation and output when dealing with rising oil prices. This contrasts with the result in the standard New Keynesian model that ensuring complete price stability is the optimal thing to do, even when an oil...

While consumption habits have been utilised as a means of generating a hump shapedoutput response to monetary policy shocks in sticky-price New Keynesian economies,there is relatively little analysis of the impact of habits (particularly, external habits) onoptimal policy. In this paper we...

Die vorliegende Arbeit behandelt Preise, Investitionen und Kosten des Zahlungsverkehrsgeschäft von Banken und die damit verbundenen enormen Gewinnsteigerungspotenziale. Der Zahlungsverkehr macht bis zu 35 Prozent der Erlöse einer Bank sowie bis zu 40 Prozent der Kosten aus.

Deutschlands Exportmanie schadet derBinnennachfrage, schwächt die Exportfähigkeitder EU-Partner, verschärft dieUngleichheit und ist eine der Wurzeln dereuropäischen Schuldenkrise. Hundertevon Milliarden aufgehäufter deutscherÜberschüsse und entsprechender Defi ziteder EU-Partner müssen...

The international transactions accounts provide information on trade in goods and services (including the balance of payments and the balance of trade), investment income, and government and private financial flows. In addition, the accounts measure the value of U.S. international assets and...