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Ekonomista
|
2004
|
nr 3
359-378
EN
The perception of real business cycle (RCB) conceived in the early 1980s has helped to merge periodic oscillation with growth theory. In their initial form the RBC models were short of any monetary variables. Money was only later included in equations that replicate the economic system. Analysis of those models were used to support the view that money itself is not determining business oscillations and that it could be perceived as a variable that is internally influenced by the real sphere. The inclusion of money into RBC model has not, however, produced unequivocal results. The need to study the interactions between business cycle oscillations and the monetary variables in greater detail is still felt.
6
Content available remote Institutional Aspects of the World Trade Organization's Functioning
100%
EN
The main objective of the paper was to analyze the institutional aspects of the functioning of the World Trade Organization. To this end, the structure of the 1994 WTO Agreement, the Organization's tasks, the principles of membership acquisition, as well as the organs and the decision-making rules of the WTO were presented. The WTO is (as opposed to GATT 1947) a fully structured international organization and its operation is of utmost importance for gradual abolition of restrictions on the global trade in goods, services and intellectual property rights. Thus, the knowledge of the WTO's functioning principles is a factor substantially facilitating the understanding of the globalization process.
EN
The aim of the paper is to indicate the basic principles concerning temporary movement of labour force engaged in international flow of services which were included in legal regulations of WTO. The author selects the European countries of transformation period as the objects of the analysis. To achieve the aim, the author uses statistical data showing the particular ways of provision of services and considers only the information included in balances of payment. He also uses the lists of liberalization commitments which all countries have to submit when entering General Agreement on Trade of Services. The results of the analysis indicate that provision of services in international trade through temporary transfer of natural persons is least susceptible to the principles of free trade which results from the smallest number of liberalization commitments taken during the Uruguay Round and during further negotiations. It is equally true about developed and developing countries, as well as those undergoing economic transformation. It can be concluded that it is economically beneficial for the transformation period countries to allow a wider international flow of persons providing services which mostly concerns people with lower qualifications or sole traders. It would enable them to make use of the comparative advantage which mobile and relatively cheap labour force constitutes.
EN
The basic objective of this article was to make an empirical analysis of dependencies characteristic of Phillips curve in the USA economy. The results of econometric estimates prove existence of mutual relationship between unemployment and dynamics of wages or prices. Consequently, it is possible to define unemployment rate balance which changes in time and is determined by dynamics of labor efficiency.
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