Modele w ekonomii. Księga jubileuszowa Profesora Wojciecha Maciejewskiego
Economic Models. A Jubilee Book in Honour of Professor Wojciech Maciejewski
Author(s): Ryszard Kokoszczyński
Subject(s): Economy
Published by: Wydawnictwa Uniwersytetu Warszawskiego
Keywords: economic models; trade integration; monetary and fiscal policy; central banks; exchange rate; household income
Summary/Abstract: The publication presents various applications of models in economics. Several texts explore the evolution of model approach in selected areas of economics, e.g. trade integration, theory of a multinational corporation, and interactions between monetary and fiscal policy. Other texts present the results of research studies on decision making in central banks, fertility, the impact of taxes and social transfers on household income, exchange rate, and environmental inequality. The book is dedicated to Professor Wojciech Maciejewski on his 80th bithday.
- E-ISBN-13: 978-83-235-4637-5
- Print-ISBN-13: 978-83-235-4629-0
- Page Count: 224
- Publication Year: 2020
- Language: English, Polish
Profesor Wojciech Maciejewski – człowiek Uniwersytetu Warszawskiego
Profesor Wojciech Maciejewski – człowiek Uniwersytetu Warszawskiego
(Professor Wojciech Maciejewski – human of the University of Warsaw)
- Author(s):Włodzimierz Siwiński
- Language:English, Polish
- Subject(s):Economy
- Page Range:14-18
- No. of Pages:5
- Keywords:economic models; trade integration; monetary and fiscal policy; central banks; exchange rate; household income
- Summary/Abstract:The publication presents various applications of models in economics. Several texts explore the evolution of model approach in selected areas of economics, e.g. trade integration, theory of a multinational corporation, and interactions between monetary and fiscal policy. Other texts present the results of research studies on decision making in central banks, fertility, the impact of taxes and social transfers on household income, exchange rate, and environmental inequality. The book is dedicated to Professor Wojciech Maciejewski on his 80th bithday.
- Price: 4.50 €
Central banks’ voting contest
Central banks’ voting contest
(Central banks’ voting contest)
- Author(s):Wojciech Charemza
- Language:English, Polish
- Subject(s):Economy
- Page Range:19-33
- No. of Pages:15
- Keywords:voting algorithms; monetary policy; inflation targeting; forecast uncertainty
- Summary/Abstract:This chapter compares how effective different voting algorithms are for the decisions taken by monetary policy councils. A voting activity index is proposed and computed as the ratio of the number of all possible decisions to the total number of different combinations of decisions available to a given composition of an MPC. The voting systems considered are these used by the US Federal Reserve Board and the central banks of the UK, Australia, Canada, Sweden and Poland. In the dynamic simulation model, which emulates voting decisions, the heterogeneous agents act upon individual forecast signals and optimise a Taylor-like decision function. The selection criterion is based on the simulated probability of staying within the bounds that define the inflationary target. The general conclusion is that the voting algorithm used by the Bank of Sweden is the best given the criteria applied, especially when inflation is initially outside the target bounds. It is observed that a decrease in inflation forecast uncertainty, which is inversely proportional to the correlation between the forecast signals delivered to members of the monetary policy board, makes the voting less effective.
- Price: 4.50 €
Modelowanie przedsiębiorstwa międzynarodowego
Modelowanie przedsiębiorstwa międzynarodowego
(Modelling multinational firms)
- Author(s):Andrzej Cieślik
- Language:English, Polish
- Subject(s):Economy
- Page Range:34-46
- No. of Pages:13
- Keywords:multinational firm
- Summary/Abstract:Neoclassical economics, a dominant framework until the 1970s and 1980s, treated activities of the multinational firms as a part of portfolio theories of international capital flows. The analysis of various kinds of imperfect competition or firm heterogeneity was impossible until the elements of the theory of industrial organization were introduced into the international trade theory. This modification allowed direct inclusion of two basic motivations for establishing multinational firms, horizontal and vertical ones, in the analysis. In this chapter, we present the basic theoretical models that incorporate those two trends (Helpman-Krugman-Markusen models) as well as the imperfect attempts at their integration (the knowledge-capital model) and the most important examples of empirical studies aimed at the verification of their theoretical claims.
- Price: 4.50 €
Interakcje polityki pieniężnej i fiskalnej a niezależność banku centralnego – przegląd możliwych podejść modelowych w badaniach empirycznych
Interakcje polityki pieniężnej i fiskalnej a niezależność banku centralnego – przegląd możliwych podejść modelowych w badaniach empirycznych
(Interactions between monetary and fiscal policies and the independence of central bank)
- Author(s):Ryszard Kokoszczyński, Joanna Mackiewicz-Łyziak
- Language:English, Polish
- Subject(s):Economy
- Page Range:47-61
- No. of Pages:15
- Keywords:independence of central bank; monetary policy; fiscal policy
- Summary/Abstract:There are numerous theoretical and empirical studies on interactions between monetary and fiscal policy. Even if the independence of central banks affects those interactions, it has rarely been directly included in those studies. In this chapter, we present two general approaches to empirical studies on interactions between those two policies and the possibilities for inclusion of independence of central banks in their modelling. Generally, the first approach has poor theoretic background and relies on simple models describing rules for fiscal and monetary policies. Those models also include proxies for some aspects of fiscal policy. Similarly, some simple measures usually address the independence of central banks. The second approach most often roots in the fiscal theory of the price level. The overwhelming majority of presented studies report a significant impact of the central banks’ independence in the form of a more sustainable policy using the first approach.
- Price: 4.50 €
Ewolucja metod analizy skutków integracji handlowej
Ewolucja metod analizy skutków integracji handlowej
(The evolution of methods of analysis of the trade integration effects)
- Author(s):Jan Jakub Michałek
- Language:English, Polish
- Subject(s):Economy
- Page Range:62-81
- No. of Pages:20
- Keywords:economic integration; gravity model of trade; CGE models
- Summary/Abstract:The theory of economic integration dates back to the mid-20th century. In the 1970s, initial empirical studies on the effects of economic integration appeared during the first stage of the functioning of the customs union in the European Economic Community. Researchers mostly highlighted the customs union’s static effects: trade creation, trade expansion, and trade diversion. The gravity model of trade became the basic econometric model for the ex-post analysis of the effects of economic integration, usually implying the positive impact of the integration on the trade flow. However, the expansion of integration and the trade negotiations created a need for the ex-ante analysis of the effects of such activities. To this end, the simulation models were developed, in particular computable general equilibrium (CGE) models. Such models allow for the analysis of how the economy might react to the changes; however, their complexity limits their usability in public discourse.
- Price: 4.50 €
Bezpośrednie efekty polityki – podejście mikrosymulacyjne do dekompozycji zmian w zróżnicowaniu dochodu do dyspozycji gospodarstw domowych w Polsce w latach 2005–2017
Bezpośrednie efekty polityki – podejście mikrosymulacyjne do dekompozycji zmian w zróżnicowaniu dochodu do dyspozycji gospodarstw domowych w Polsce w latach 2005–2017
(Direct effects of the policy – a microsimulation approach to the decomposition of the changes in income inequality in Poland from 2005 to 2017)
- Author(s):Leszek Morawski
- Language:English, Polish
- Subject(s):Economy
- Page Range:82-96
- No. of Pages:15
- Keywords:income ineqality; decomposition of changes of Gini coefficient; Shapley-Shorrocks method
- Summary/Abstract:In this chapter, we estimate changes in income inequality in Poland from 2005 to 2017 that resulted from the changes in tax and benefit policy. We provide the theoretical background and describe the characteristics of the methods for such an estimation. Our results suggest that income inequality decreased (as measured with the Gini coefficient); however, the values of the measure varied in subperiods. We conclude that the changes in policy did not counteract the increase in income inequality during the economic slowdown, but they contributed to the decrease during the economic recovery.
- Price: 4.50 €
Modelowanie dzietności: adaptacja modelu Lee-Cartera
Modelowanie dzietności: adaptacja modelu Lee-Cartera
(Modelling fertility: Lee-Carter model adaptation)
- Author(s):Wojciech Otto, Jagoda Niemczynowicz
- Language:English, Polish
- Subject(s):Economy
- Page Range:97-129
- No. of Pages:33
- Keywords:cross-sectional gross reproduction rate; cohort gross reproduction rate; childlessness; Lee-Carter model; Renshaw-Haberman model
- Summary/Abstract:We present modified Lee–Carter models for modelling fertility. We analyse Polish Central Statistical Office data on total births by age of mothers in Poland from 1971 to 2018 and the age of mothers at the moment of giving birth to the first child in Poland from 1971 to 2017. Although Lee-Carter model was designed for mortality modelling and forecasting, we adapt it to highlight a direct relationship between the model parameters and the evolution of gross reproduction rate and the average age of giving birth to the first child, both in cross-sectional and cohort view.
- Price: 4.50 €
Kształcenie doktorantów w Polsce: rola czynników popytowych i podażowych
Kształcenie doktorantów w Polsce: rola czynników popytowych i podażowych
(Tertiary education in Poland – the role of supply and demand factors)
- Author(s):Urszula Sztanderska, Gabriela Grotkowska
- Language:English, Polish
- Subject(s):Economy
- Page Range:130-160
- No. of Pages:31
- Keywords:tertiary education; labour market for doctoral degree holders
- Summary/Abstract:This chapter focuses on tertiary education, which is a rare subject in studies on education. We present the determinants of the development of doctoral studies in Poland during the last two decades. The supply determinants stemmed from legal and financial solutions. The situation on the labour market for doctoral degree holders shaped the demand, even if need for graduates of tertiary education outside of Academia is limited to particular fields of science and law.
- Price: 4.50 €
Model kursu walutowego PLN/EUR. Aplikacja modelu Tobit-CVAR
Model kursu walutowego PLN/EUR. Aplikacja modelu Tobit-CVAR
(Modelling exchange rate PLN/EUR. An application of Tobit-CVAR model)
- Author(s):Aleksander Welfe
- Language:English, Polish
- Subject(s):Economy
- Page Range:161-170
- No. of Pages:10
- Keywords:modelling exchange rate; CVAR models; Tobit
- Summary/Abstract:Although there are numerous theoretical frameworks and statistical tools, while modelling exchange rates researchers usually focus on one of the factors that shape the actual exchange rate. In this chapter, we present a model that allows us to consider non-stationary variables. Apart from this, we are also able to examine separately the impact of fundamental macroeconomic factors and market factors on exchange rates. For exchange rate PLN/EUR, our results support economic hypotheses.
- Price: 4.50 €
Ewolucja roli państwa w gospodarce i społeczeństwie – analiza i ocena niebezpieczeństw
Ewolucja roli państwa w gospodarce i społeczeństwie – analiza i ocena niebezpieczeństw
(Evolution of the role of the state in economy and society – risk analysis and assesment)
- Author(s):Jerzy Wilkin
- Language:English, Polish
- Subject(s):Economy
- Page Range:171-186
- No. of Pages:16
- Keywords:role of state in economy; political economy
- Summary/Abstract:The complexity of the state’s functions and their relationships with economic activities are best analyzed within the political economy, although the social choice theory or methodological individualism are dominant approaches of the mainstream economics. In this chapter, we analyze the role of the state in creating the institutional order and realizing development goals. To this end, we refer to the functional triad of values-standards-goods. The triad also becomes a conceptual framework for seizing the importance of the market and civil society in the inspection and disciplining of the state’s activity.
- Price: 4.50 €
Kiedy przejść na emeryturę? Opłacalność odraczania emerytury w systemie emerytalnym ZUS
Kiedy przejść na emeryturę? Opłacalność odraczania emerytury w systemie emerytalnym ZUS
(When should I retire? The profitability of postponing retirement in ZUS pension system)
- Author(s):Marian Wiśniewski
- Language:English, Polish
- Subject(s):Economy
- Page Range:187-205
- No. of Pages:19
- Keywords:pension; profitability of postponing retirement
- Summary/Abstract:In this chapter, we analyze the circumstances that one should consider while deciding when to retire. In Poland, over 90 percent of workers decide to retire either at the retirement age or shortly after. However, the results of our models indicate that ability to compare the individual and the general life expectancy allows one to benefit from postponing retirement. The demographic causes and the current Polish pension scheme make the odds of profit in favour of women.
- Price: 4.50 €
Environmental inequality
Environmental inequality
(Environmental inequality)
- Author(s):Tomasz Żylicz
- Language:English, Polish
- Subject(s):Economy
- Page Range:206-217
- No. of Pages:12
- Keywords:income inequality; environmental inequality
- Summary/Abstract:Unlike income inequality, environmental inequality has not been researched in Poland widely. In this chapter, we combine environmental monitoring data with economic indicators in order to address the question of whether regional disparities in environmental quality are linked to income differentials. It turns out that variation of air quality cannot be easily explained by regional economic indicators. The study serves as an exercise in simple econometric modelling.
- Price: 4.50 €