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The critical passage in Draghi's comments was this: "To the extent that the size of the sovereign premia hamper the functioning of the monetary policy transmission channels, they come within our mandate".
Many of the measures taken recently aim at strengthening the functioning of the monetary union.
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Finally, it can allow for a better sampling of the population, as it is easier (and probably cheaper) to get a wider coverage of the population's physical effort cost functions than of the monetary cost functions, and can thus offer us a bigger and more representative set of behaviors.
The Communication is based on an extensive report drawn up by the Commission's Directorate-General for Economic and Financial Affairs, which provides a detailed analysis of the functioning of Economic and Monetary Union and the impact of the euro over the last ten years, as well as analysing the prospects for the future.
So defined, it is clear that payment systems are fundamental to the functioning of all monetary economies, no matter they are developed economies, transitional economies, or developing economies.
The ROI metric calculated the "monetary value of outputs/impacts from service delivery function" and the "monetary value of inputs consumed in service delivery".
We define the adjoint cost function as the monetary value of mortality (M) resulting from short-term exposure to O3 (and NO2 in Canada).
"With the failure to make sovereign states' fiscal policies consistent with the conditions for the single currency area," Mr. Issing wrote in an article to be published this week, "policy makers not only have weakened the functioning of monetary union, but have also called into question its very survival".
Perhaps more important, that market is critical to the functioning of the nation's banking system and to the monetary policy operations of the Federal Reserve.
By the Law 'On the National Bank of Ukraine' (in the official translation), "the main function of the National Bank is to ensure stability of the monetary unit of Ukraine," not to please its president or the prime minister.
This paper develops a mathematical function to quantify the monetary impact of transition designs between signal timing plans on users and the environment.
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CEO of Professional Science Editing for Scientists @ prosciediting.com