English

In financial parlance, the removal of assets from a company – by the fraudulent management of the company and bringing these assets into their own private firm, or – more or less secretly by a major shareholder (pumping out valuable property fraudulently, clandestinely by the own management of a company and bringing into their own… read more »

Expenditures made by private individuals during the vacation period; in the narrower sense, related to travel and money spent on accommodation and meals. – A special payment made by an employer to an employee to cover increased expenses during the vacation season (holiday time), either as a result of a collective labor agreement (CH: collectively… read more »

Ratio formed from the export value of goods (in GE) divided by the export quantity (in kg). It expresses the value added (net value added) of the exporting industries. – It is an important indicator for the exchange rate of a currency and the terms of trade. This is because the higher the quality of… read more »

Pursuant to Section 1, Paragraph 21 of the German Banking Act, a group of companies exists on the financial market if – a company is affiliated with one or more other companies in such a way that they are jointly subject to uniform performance on the basis of a provision of the Articles of Association… read more »

In earlier times, a register of the revenues of the manor with a list of duties (levies, fiefs; soc(c)ages), often covering long periods of time, and a list of the serfs (villeins) liable to pay taxes. For economic history in general and for financial history in particular, the Urbarien with their diverse records are a… read more »

Econometric simulation of all effects of interest rate changes, first on the money market and then on other economic variables. The aim is to obtain reliable impulse-response functions from which the likely impact of a central bank policy measure can be determined in advance. – See book credit, key data, macroeconomic, equilibrium models, dynamic-stochastic, models,… read more »

Term from the central bank’s vocabulary. In this case, the central bank explains and justifies measures. However, it does not comment on the details so as not to send the wrong signals to market participants. – In the wake of the Greek crisis, for example, the ECB announced in summer 2010 that it had purchased… read more »

Loans granted by a country’s banks to companies. These are reported to the central banks and monitored by the ECB under the two-pillar principle. – The share of loans to companies as a percentage of gross domestic product. In 2004, this rate was 70 percent for the United Kingdom, 56 percent for Germany and Japan,… read more »

“Pay in best money!”; decree of the Sumerian (Sumer = an ancient country of southern Mesopotamia in present-day southern Iraq; the Sumerians are believed to have invented the cuneiform: the wedgeshaped system of writing) Urukagina around 2500 BC. The Urukagina, around 2500 B.C., instructed the (foreign trade) merchants to pay in Kurant coin – practically… read more »

Financial instrument for which the interest rate is reset at regular intervals on the basis of a reference index and thus adjusted to changes in short- or medium-term market interest rates (any category of debt instrument [such as a loan, bond, mortgage, or credit] that ensures not a fixed rate of interest over the lifespan… read more »