natgillin/translations-raw huggingface dataset:
« Back to square one : identification issues in DSGE models » by F. Canova and L. Sala , January 2006 .
„Economic and monetary integration of the new Member States : helping to chart the route » by I. Angeloni , M. Flad and F. P. Mongelli , September 2005 .
« A new theory of forecasting » by S. Manganelli , January 2006 .
„Financing conditions in the euro area » by L. Bê Duc , G. de Bondt , A. Calza , D. Marqués Ibáñez , A. van Rixtel and S. Scopel , October 2005 .
« Are specific skills an obstacle to labour market adjustment ? Theory and an application to the EU enlargement » by A. Lamo , J. Messina and E. Wasmer , February 2006 .
„Economic reactions to public finance consolidation : a survey of the literature » by M. G. Briotti , October 2005 . „Labour productivity in the Nordic EU countries : a comparative overview and explanatory factors 1980-2004 » by A. Annenkov and C. Madaschi , October 2005 .
« A method to generate structural impulse responses for measuring the effects of shocks in structural macro models » by A. Beyer and R. E. A. Farmer , February 2006 .
by F. P. Mongelli , E. Dorrucci and I. Agur , December 2005 .
« Determinants of business cycle synchronisation across euro area countries » by U. Böwer and C. Guillemineau , February 2006 .
„Trends and patterns in working time across euro area countries 1970-2004 : causes and consequences » by N. Leiner-Killinger , C. Madaschi and M. Ward-Warmedinger , December 2005 .
« Rational inattention , inflation developments and perceptions after the euro cash changeover » by M. Ehrmann , February 2006 . « Forecasting economic aggregates by disaggregates » by D. F. Hendry and K. Hubrich , February 2006 .
„The New Basel Capital Framework and its implementation in the European Union » by F. Dierick , F. Pires , M. Scheicher and K. G. Spitzer , December 2005 . „The accumulation of foreign reserves » by an International Relations Committee Task Force , February 2006 .
« The pecking order of cross-border investment » by C. Daude and M. Fratzscher , February 2006 . « Cointegration in panel data with breaks and cross-section dependence » by A. Banerjee and J. L. Carrion-i-Silvestre , February 2006 .
„The determinants of « domestic » original sin in emerging market economies » by A. Mehl and J. Reynaud , December 2005 . „Price setting in German manufacturing : new evidence from new survey data » by H. Stahl , December 2005 .
« Non-linear dynamics in the euro area demand for M1 » by A. Calza and A. Zaghini , February 2006 .
„The price-setting behaviour of Portuguese firms : evidence from survey data » by F. Martins , December 2005 .
« Robustifying learnability » by R. J. Tetlow and P. von zur Muehlen , February 2006 .
„Sticky prices in the euro area : a summary of new micro evidence » by L. J. Álvarez , E. Dhyne , M. M. Hoeberichts , C. Kwapil , H. Le Bihan , P. Lünnemann , F. Martins , R. Sabbatini , H. Stahl , P. Vermeulen and J. Vilmunen , December 2005 .
OTHER PUBLICATIONS « Recycling of euro banknotes : framework for the detection of counterfeits and fitness sorting by credit institutions and other professional cash handlers » , January 2005 .
„Forecasting the central bank 's inflation objective is a good rule of thumb » by M. Diron and B. Mojon , December 2005 .
« Review of the international role of the euro » , January 2005 .
„The timing of central bank communication » by M. Ehrmann and M. Fratzscher , December 2005 .
« Euro area balance of payments and international investment position statistics -- Annual quality report » , January 2005 .
„Real versus financial frictions to capital investment » by N. Bayraktar , P. Sakellaris and P. Vermeulen , December 2005 .
« Banking structures in the new EU Member States » , January 2005 .
„Is the time ripe for a currency union in emerging East Asia ? The role of monetary stabilisation » by M. Sánchez , December 2005 .
« Progress report on TARGET2 » , February 2005 .
„Exploring the international linkages of the euro area : a global VAR analysis » by S. Dées , F. di Mauro , M. H. Pesaran and L. V. Smith , December 2005 .
« The implementation of monetary policy in the euro area : General documentation on Eurosystem monetary policy instruments and procedures » , February 2005 .
„Towards European monetary integration : the evolution of currency risk premium as a measure for monetary convergence prior to the implementation of currency unions » by F. González and S. Launonen , December 2005 .
« Review of the application of the Lamfalussy framework to EU securities markets legislation » , February 2005 .
An empirical analysis » by L. Rinaldi and A. Sanchis-Arellano , January 2006 . „Are emerging market currency crises predictable ?
« Payment and securities settlement systems in the accession countries -- Addendum incorporating 2003 figures » (" Blue Book ") , February 2005 .
„Credit chains and the propagation of financial distress » by F. Boissay , January 2006 .
« Statistics and their use for monetary and economic policy-making » , March 2005 .
„Inflation convergence and divergence within the European Monetary Union » by F. Busetti , L. Forni , A. Harvey and F. Venditti , January 2006 .
216 ECB Annual Report 2005
„Growth in euro area labour quality » by G. Schwerdt and J. Turunen , January 2006 .
« Letter from the ECB President to the Chairman of the International Accounting Standards Board of 13 April 2005 : in support of the current proposal to amend IAS 39 -- The fair value option » , April 2005 . « Euro money market study 2004 » , May 2005 .
„Distortionary taxation , debt and the price level » by A. Schabert and L. von Thadden , January 2006 . „Forecasting ECB monetary policy : accuracy is ( still ) a matter of geography » by H. Berger , M. Ehrmann and M. Fratzscher , January 2006 .
« Correspondent central banking model ( CCBM ) -- procedure for Eurosystem counterparties » , May 2005 . « Regional economic integration in a global framework -- proceedings of the G20 Workshop held in Beijing , 22-23 September 2004 » , May 2005 .
„A disaggregated framework for the analysis of structural developments in public finances » by J. Kremer , C. Rodrigues Braz , T. Brosens , G. Langenus , S. Momigliano and M. Spolander , January 2006 . „Bank interest rate pass-through in the euro area : a cross-country comparison » by C. K. Sørensen and T. Werner , January 2006 .
« TARGET Annual Report 2004 » , May 2005 .
„Public sector efficiency for new EU Member States and emerging markets » by A. Afonso , L. Schuknecht and V. Tanzi , January 2006 .
« The new EU Member States : convergence and stability » , May 2005 .
„Back to square one : identification issues in DSGE models » by F. Canova and L. Sala , January 2006 .
« Financial Stability Review » , June 2005 .
„A new theory of forecasting » by S. Manganelli , January 2006 .
« Letter from the ECB President to Mr Nikolaos Vakalis , Member of the European Parliament » , June 2005 .
„Are specific skills an obstacle to labour market adjustment ? Theory and an application to the EU enlargement » by A. Lamo , J. Messina and E. Wasmer , February 2006 .
« Guide to consultation of the European Central Bank by national authorities regarding draft legislative provisions » , June 2005 .
„A method to generate structural impulse responses for measuring the effects of shocks in structural macro models » by A. Beyer and R. E. A. Farmer , February 2006 . „Determinants of business cycle synchronisation across euro area countries » by U. Böwer and C. Guillemineau , February 2006 .
« Assessment of SORBNET-EURO and BIREL against the Core Principles : connection of SORBNET-EURO to TARGET via the Banca d' Italia and its national RTGS system BIREL » , June 2005 .
„Rational inattention , inflation developments and perceptions after the euro cash changeover » by M. Ehrmann , February 2006 .
« Information guide for credit institutions using TARGET » , June 2005 .
„Forecasting economic aggregates by disaggregates » by D. F. Hendry and K. Hubrich , February 2006 .
« Statistical classification of financial markets instruments » , July 2005 .
„The pecking order of cross-border investment » by C. Daude and M. Fratzscher , February 2006 .
« Reply of the ECB to the public consultation by the CEBS on the consolidated financial reporting framework for credit institutions » , July 2005 .
„Cointegration in panel data with breaks and cross-section dependence » by A. Banerjee and J. L. Carrion-i-Silvestre , February 2006 .
« Payment and securities settlement systems in the European Union -- Addendum incorporating 2003 figures » (" Blue Book ") , August 2005 . « Eurosystem contribution to the public consultation by the European Commission on the Green Paper on Financial Services Policy ( 2005-2010 ) » , August 2005 .
ĎALŠIE PUBLIKÁCIE „Recycling of euro banknotes : framework for the detection of counterfeits and fitness sorting by credit institutions and other professional cash handlers » , January 2005 . „Review of the international role of the euro » , January 2005 .
« Central banks » provision of retail payment services in euro to credit institutions -- policy statement » , August 2005 .
„Euro area balance of payments and international investment position statistics -- Annual quality report » , January 2005 . „Banking structures in the new EU Member States » , January 2005 .
« ECB statistics : a brief overview » , August 2005 .
„Review of the application of the Lamfalussy framework to EU securities markets legislation » , February 2005 .
« Assessment of euro retail payment systems against the applicable Core Principles » , August 2005 .
„Payment and securities settlement systems in the accession countries -- Addendum incorporating 2003 figures » ( „Blue Book ") , February 2005 .
« Indicators of financial integration in the euro area » , September 2005 .
„Indicators of financial integration in the euro area » , September 2005 .
« EU banking structures » , October 2005 .
„EU banking structures » , October 2005 .
« EU banking sector stability » , October 2005 .
„EU banking sector stability » , October 2005 .
« Second progress report on TARGET2 » , October 2005 .
„Second progress report on TARGET2 » , October 2005 .
« Legal aspects of the European System of Central Banks » , October 2005 .
„Legal aspects of the European System of Central Banks » , October 2005 .
« European Union balance of payments / international investment position statistical methods » (" B.o.p. Book ") , November 2005 .
„European Union balance of payments / international investment position statistical methods » ( „B . o.p. Book ") , November 2005 .
« Large EU banks » exposures to hedge funds » , November 2005 .
„Large EU banks » exposures to hedge funds » , November 2005 .
« Green paper on the enhancement of the EU framework for investment funds .
„Green paper on the enhancement of the EU framework for investment funds .
Eurosystem contribution to the Commission 's public consultation » , November 2005 .
Eurosystem contribution to the Commission 's public consultation » , November 2005 .
« The European Commission 's Green Paper on mortgage credit in the EU -- Eurosystem contribution to the public consultation » , December 2005 .
„The European Commission 's Green Paper on mortgage credit in the EU -- Eurosystem contribution to the public consultation » , December 2005 .
« Financial Stability Review » , December 2005 .
„Financial Stability Review » , December 2005 .
« Review of the international role of the euro » , December 2005 .
„Review of the international role of the euro » , December 2005 .
« The Eurosystem , the Union and beyond » , December 2005 .
„The Eurosystem , the Union and beyond » , December 2005 .
« Bond markets and long-term interest rates in non-euro area Member States of the European Union and in acceding countries -- Statistical tables » , January 2006 . ECB Annual Report 2005
„Bond markets and long-term interest rates in non-euro area Member States of the European Union and in acceding countries -- Statistical tables » , January 2006 .
217 « Data collection from credit institutions and other professional cash handlers under the Framework for banknote recycling » , January 2006 .
„Data collection from credit institutions and other professional cash handlers under the Framework for banknote recycling » , January 2006 .
« Euro money market survey 2005 » , January 2006 .
„Euro money market survey 2005 » , January 2006 .
« Euro area balance of payments and international investment position statistics -- Annual quality report » , February 2006 .
„Euro area balance of payments and international investment position statistics -- Annual quality report » , February 2006 .
« Towards a Single Euro Payments Area -- objectives and deadlines ( fourth progress report ) » , February 2006 .
„Towards a Single Euro Payments Area -- objectives and deadlines ( fourth progress report ) » , February 2006 .
INFORMATION BROCHURES « The current TARGET system » , August 2005 .
INFORMAČNÉ BRUŽÚRY „The current TARGET system » , August 2005 .
« TARGET2 -- innovation and transformation » , August 2005 .
„TARGET2 -- innovation and transformation » , August 2005 .
« The euro area at a glance » , August 2005 . 218
„The euro area at a glance » , August 2005 .
G L O S S A RY This glossary contains selected terms that are used in the Annual Report .
SLOVNÍK POJMOV Slovník obsahuje vybrané termíny použité vo výročnej správe .
Acceding countries : countries which have signed the Accession Treaty .
Akciový trh [ Equity market ] : trh , na ktorom sa vydávajú majetkové cenné papiere ( akcie ) a obchoduje sa s nimi .
Bulgaria and Romania did so on 25 April 2005 . Accession countries : countries with which negotiations for accession to the EU have begun .
Automatické operácie [ Standing facility ] : obchody centrálnej banky , ktoré majú zmluvné strany trvalo k dispozícii na požiadanie .
Negotiations were started with Croatia and Turkey on 3 October 2005 .
Eurosystém ponúka dva jednodňové obchody : jednodňový refinančný obchod a jednodňový sterilizačný obchod .
Balance of payments ( b.o.p. ) : a statistical statement that summarises , for a specific time period , the economic transactions of an economy with the rest of the world .
Cenová stabilita [ Price stability ] : udržiavanie cenovej stability je hlavným cieľom Eurosystému .
those involving financial claims on , and liabilities to , the rest of the world ; and those ( such as debt forgiveness ) that are classified as transfers .
Rada guvernérov definuje cenovú stabilitu ako medziročný nárast harmonizovaného indexu spotrebiteľských cien ( HICP ) eurozóny pod 2 %.
Benchmark portfolio : in relation to investments , a reference portfolio or index constructed on the basis of the objectives for the liquidity and risk of , as well as the return on , the investments . The benchmark portfolio serves as a basis for comparison of the performance of the actual portfolio .
Súčasne Rada guvernérov spresnila , že pri zabezpečovaní cenovej stability je cieľom udržiavať mieru inflácie v strednodobom horizonte pod 2 %, avšak blízko tejto úrovne .
Bond market : the market in which longer-term debt securities are issued and traded . Central counterparty : an entity that interposes itself between the counterparties to trades , acting as the buyer to every seller and the seller to every buyer .
Centrálna zmluvná strana [ Central counterparty ] : subjekt , ktorý vstupuje medzi zmluvné strany obchodov a pre každého predávajúceho predstavuje kupujúceho a pre každého kupujúceho predávajúceho .
Securities can be held in physical ( but immobilised ) or dematerialised form ( i.e. so that they exist only as electronic records ) .
Cenné papiere môžu byť vedené v listinnej ( ale v rámci evidencie imobilizovanej ) podobe alebo v dematerializovanej podobe ( t. j. existujú len ako elektronické záznamy ) .
Consolidated balance sheet of the MFI sector : a balance sheet obtained by netting out interMFI positions ( e.g. inter-MFI loans and deposits ) in the aggregated MFI balance sheet . It provides statistical information on the MFI sector 's assets and liabilities vis-à-vis residents of the euro area not belonging to this sector ( i.e. general government and other euro area residents ) and visà-vis non-euro area residents .
zlato , bankovky a mince v cudzích menách , cenné papiere emitované nerezidentmi eurozóny a úvery poskytnuté nerezidentom eurozóny ) po odpočítaní zahraničných pasív tohto sektora ( napríklad vkladov , repo obchodov , podielov / akcií podielových fondov peňažného trhu a dlhových cenných papierov vydaných PFI so splatnosťou do dvoch rokov vrátane v držbe nerezidentov eurozóny ) .
It is the main statistical source for the calculation of monetary aggregates , and it provides the basis for the regular analysis of the counterparts of M3 .
Devízový swap [ Foreign exchange swap ] : súčasná spotová a forwardová operácia predaja / nákupu jednej meny za druhú menu .
Corporate governance : rules , procedures and processes according to which an organisation is directed and controlled . The corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organisation -- such as the board ,
Dlhodobejšia refinančná operácia [ Longer term refinancing operation ] : pravidelný obchod na voľnom trhu vo forme reverzného obchodu vykonávaný Eurosystémom .
219 managers , shareholders and other stakeholders -- and lays down the rules and procedures for decision-making .
Takéto obchody sa vykonávajú vo forme mesačných štandardných tendrov a v bežnom prípade majú splatnosť tri mesiace .
Corporate profitability : a measure of the earnings performance of corporations , mainly in relation to their sales , assets or equity . There are a number of different corporate profitability ratios based on company financial statements , such as the ratio of operating income ( sales minus operating expenses ) to sales , the ratio of net income ( operating and non-operating income , after tax , depreciation and extraordinary items ) to sales , the return on assets ( relating net income to total assets ) and the return on equity ( relating net income to shareholders » funds ) .
Dlhodobejšie finančné pasíva PFI [ MFI longer term financial liabilities ] : vklady s dohodnutou splatnosťou nad dva roky , vklady s výpovednou lehotou nad tri mesiace , dlhové cenné papiere vydané PFI eurozóny s pôvodnou lehotou splatnosti nad dva roky a vlastné imanie a rezervy sektora PFI eurozóny . Dlhový cenný papier [ Debt security ] : záväzok emitenta ( dlžníka ) zaplatiť majiteľovi cenného papiera ( veriteľovi ) jednu alebo viac platieb v určitom termíne , resp .
At the macroeconomic level , the gross operating surplus is often used as a measure of profitability , based on national accounts , for instance in relation to GDP or value added . Cost of the external financing of non-financial corporations ( real ) : the cost incurred by nonfinancial corporations when taking up new external funds .
termínoch . Spravidla má stanovenú konkrétnu úrokovú sadzbu ( kupón ) , prípadne sa predáva s diskontom , ktorý sa vyplatí ECB Výročná správa 2005
For euro area non-financial corporations , it is calculated as a weighted average of the cost of bank lending , the cost of debt securities and the cost of equity , based on the amounts outstanding ( corrected for valuation effects ) and deflated by inflation expectations . Counterparty : the opposite party in a financial transaction ( e.g. any party transacting with a central bank ) .
Dlhové cenné papiere s pôvodnou dobou splatnosti nad jeden rok sa klasifikujú ako dlhodobé . Dohoda o spätnom odkúpení [ Repurchase agreement ] : dohoda , pri ktorej sa predáva aktívum , pričom predávajúci získava súčasne právo a povinnosť jeho spätného odkúpenia za stanovenú cenu k budúcemu dátumu alebo na výzvu .
or ( ii ) an undertaking or any other legal person , other than those under ( i ) , which issues means of payment in the form of electronic money .
Táto dohoda sa podobá kolateralizovanému úveru s tým rozdielom , že predávajúci si nezachováva vlastníctvo cenných papierov .
Credit risk : the risk that a counterparty will not settle an obligation at full value , either when it becomes due or at any time thereafter .
Dolaďovací obchod [ Fine tuning operation ] : operácia na voľnom trhu , ktorú Eurosystém vykonáva preto , aby sa vysporiadal s neočakávanými výkyvmi likvidity na trhu .
Credit risk includes replacement cost risk and principal risk . It also includes the risk of settlement bank failure .
Periodicita a splatnosť dolaďovacích obchodov nie sú štandardizované .
Debt security : a promise on the part of the issuer ( i.e. the borrower ) to make one or more payments to the holder ( the lender ) at a specified future date or dates . Such securities usually carry a specific rate of interest ( the coupon ) and / or are sold at a discount to the amount that will be repaid at maturity .
Efektívne výmenné kurzy eura ( nominálny / reálny EER ) [ Effective exchange rates ( EERs ) of the euro ( nominal / real )] : vážené priemery bilaterálnych výmenných kurzov eura voči menám hlavných obchodných partnerov eurozóny .
Deposit facility : a standing facility of the Eurosystem which counterparties may use to make overnight deposits , remunerated at a pre-specified interest rate , at an NCB ( see also key ECB interest rates ) . Direct investment : cross-border investment for the purpose of obtaining a lasting interest in an enterprise resident in another economy ( assumed , in practice , for ownership of at least 10 % of the ordinary shares or voting power ) .
ECB uverejňuje nominálne indexy EER eura voči menám dvoch skupín obchodných partnerov : EER 23 ( kam patrí 13 členských štátov EÚ nepatriacich do eurozóny a 10 hlavných obchodných partnerov mimo EÚ ) a EER 42 ( skladá sa z krajín EER 23 a z ďalších 19 krajín ) . Použité váhy vyjadrujú podiel jednotlivých partnerských krajín na zahraničnom obchode eurozóny so zohľadnením hospodárskej súťaž na tretích trhoch .
Economic analysis : one pillar of the European Central Bank 's framework for conducting a comprehensive analysis of the risks to price stability , which forms the basis for the Governing 220
Ekonomická analýza [ Economic analysis ] : jeden z pilierov Európskej centrálnej banky pri vykonávaní súhrnných analýz rizík cenovej stability , ktoré sú východiskom pre menovopolitické rozhodnutia Rady guvernérov .
Due attention is paid to the need to identify the nature of shocks affecting the economy , their effects on cost and pricing behaviour and the short to medium-term prospects for their propagation in the economy ( see also monetary analysis ) .
Z tohto pohľadu sa venuje náležitá pozornosť potrebe identifikovať charakter šokov ovplyvňujúcich ekonomiku , ich dosahu na správanie sa v nákladovej oblasti a pri stanovovaní cien , ako aj krátko až strednodobému výhľadu dosahu týchto šokov na ekonomiky ( pozri tiež Menová analýza ) .
Economic and Financial Committee ( EFC ) : a consultative Community body which contributes to the preparation of the work of the ECOFIN Council .
EONIA [ Euro overnight index average ] : je vyjadrením aktuálnej úrokovej miery obchodov s jednodňovými eurovými depozitmi na medzibankovom trhu .
Economic and Monetary Union ( EMU ) : the process that led to the single currency , the euro , and the single monetary policy in the euro area , as well as to the coordination of the economic policies of the EU Member States . This process , as laid down in the Treaty , took place in three stages .
ERM II ( mechanizmus výmenných kurzov II ) [ ERM II ( Exchange rate mechanism II )] : systém výmenných kurzov , ktorým sa vytvára rámec na spoluprácu v oblasti kurzovej politiky jednotlivých krajín eurozóny a tých členských štátov EÚ , ktoré sa nezúčastňujú na tretej etape EMU .
Stage Three , the final stage , started on 1 January 1999 with the transfer of monetary competence to the European Central Bank and the introduction of the euro .
EURIBOR ( Euro interbank offered rate ) : úroková miera , za ktorú je referenčná banka ochotná požičať prostriedky v eurách inej referenčnej banke ;
The cash changeover on 1 January 2002 completed the process of setting up EMU .
počíta sa denne pre medzibankové depozitá s rôznymi splatnosťami až po 12 mesiacov .