China has taken first steps hinting at an internationalization of the Renminbi: The country has begun cautious action for opening up its capital account and allowed currency fluctuations within a certain limit between 2005 and 2008. Promoting Hong Kong as a test center for the Renminbi's...

China has taken first steps hinting at an internationalization of the Renminbi: The country has begun cautious action for opening up its capital account and allowed currency fluctuations within a certain limit between 2005 and 2008. Promoting Hong Kong as a test center for the Renminbi's...

Governments through the ages have appropriated real resources through the monopoly of the "coinage". In modern fiat money economies, the monopoly of the issue of legal tender is generally assigned to an agency of the state, the Central Bank, which may have varying degrees of operational and...

In most countries, the central bank is required to hold reserve assets as a means of providing credibility for the value of the fiat currency. These assets can be in the form of gold, foreign exchange or some other internationally recognised reserve asset and are held to permit the country to...

This paper discusses methodological issues arising from the use of online job vacancy data and voluntary web-based surveys to analyse the labour market. We highlight the advantages and possible disadvantages of using online data and suggest strategies for overcoming selected methodological...

Along with the advancement of the Internet in the last decade, researchers have increasingly identified the web as a research platform and a data source, pointing out its value for labour market analysis. This article presents a review of online data sources for this field. Specifically, the...

Die deutsche Wirtschaft ist konsumseitig mit Schwung in das Jahr 2015 gestartet. Zahlreiche Faktoren sorgen aktuell für eine sehr gute Konsumstimmung und eine hohe Dynamik beim Privaten Verbrauch: fallende Energiepreise, extrem niedrige Zinsen, die gute Lage auf dem Arbeitsmarkt sowie einmalige...

The analysis of open macroeconomies typically assumes (implicitly or explicitly) that resource allocation decisions are taken by domestic agents. The Portfolio Theory of Inflation (PTI) developed in this study assumes that some critical allocation decisions are taken by global investors and...

To be useful as a guide to behavior, a model that includes a relationship between x_t and z_t+1 must specify whether x_t is influenced by the expectation at t of z_t+1 or, that z_t+1 is inertially influenced by x_t. We show that, for a broad class of linear RE models, distinct causal...