Wyniki wyszukiwania - Biblioteka Nauki

1

Real, equilibrium exchange rate in an economy undergoing transformation

100%

Gotz-Kozierkiewicz D.

Ekonomista

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2004

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nr 3

309-333

EN

The critical role, in the control of growth and macroeconomic equilibrium, is played by the equilibrium-conditioned real exchange rate. This concept, being theoretically complex as well as difficult in practical implementation, should nonetheless be dwelled upon as it indicates ways of avoidance of serious errors in economic policy. The notion in question requires that a strategy-based approach to the exchange rate and macroeconomic policies be adopted. That, in turn, helps to diagnose the difference between the real exchange rate being observed and the strategically substantiated equilibrium rate. Identification of the latter, assisting policy makers in the formulation of long-range strategy, indicates the potentially desired changes in the real exchange rate.

2

Polish Currency Exchange Rate vs. Parity

100%

Galus S.

Pieniądze i Więź

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2005

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tom 8

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nr 2(27)

152-156

EN

The author presents the dynamic model of seven currencies versus Polish zloty in the years 1993-2004. It has been proved that according to that model there is no correlation between the exchange rate and their parity.

3

The Role of Exchange Rate and Price Factors in Profitability Improving in Ukraine

100%

Goncharuk A. G.

Ekonomia. Rynek, Gospodarka, Społeczeństwo

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2007

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nr 19

150-155

EN

The influences of nominal effective exchange rate of hryvnya and wholesale price index changes to value of profitability of the economy is defined by application of correlation-regression analysis. The recommendations about optimization of currency and price policy for improvement of economic efficiency of the economy of Ukraine are framed

4

YUAN AND CHINESE CURRENCY POLICY (Yuan i chinska polityka walutowa.)

80%

Trzaskowski M.

Pieniądze i Więź

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2009

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tom 12

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nr 4(45)

168-176

EN

The article deals with the current situation of the Chinese currency (commonly called the yuan) both on internal and international level, its implications for global trade, relations with other currencies and its place in the future balance of world reserve currency.

5

FLEXIBLE FOURIER STATIONARY TEST IN PURCHASING POWER PARITY FOR CENTRAL AND EASTERN EUROPEAN COUNTRIES

80%

Chi-Wei S.

Ekonomický časopis (Journal of Economics)

|

2012

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tom 60

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nr 1

19 – 31

EN

This study applies stationary test with a Fourier function proposed by Becker, Enders and Lee (2006) to test the validity of long-run purchasing power parity (PPP) to assess the non-stationary properties of the real exchange rate for seven Central and Eastern European (CEE) countries. We find that our approximation has higher power to detect U-shaped breaks and smooth breaks than linear method if the true data generating process of exchange rate is in fact a stationary non-liner process. We examine the validity of PPP from the non-linear point of view and provide robust evidence clearly indicate that PPP holds true for two countries, namely Bulgaria and Romania. Our findings point out their exchange rate adjustment is mean reversion towards PPP equilibrium values in a non-linear way.

6

CHANGES IN THE EXCHANGE RATE AND THE PRICE DYNAMIC IN THE GLOBAL TRIAD COUNTRIES (Zmiany kursu walutowego a dynamika cen w krajach globalnej triady)

80%

Misztal P.

Optimum. Studia Ekonomiczne

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2010

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nr 1(45)

38-59

EN

The issue concerning the transfer of the exchange rate onto prices has become one of the key research areas within the so-called New Open Economy Macroeconomics. This theme is widely analyzed mainly in foreign literature on macroeconomic as well as on microeconomic levels. The main aim of the article is to present the influence of exchange rate changes on the price dynamic in the Euro-Zone, the USA and Japan. The knowledge concerning impact of the level of exchange rate transfer onto prices allows to assess how exchange rates affect inflation and monetary policy in these countries. The article consists of two parts. The first part deals with theoretical analysis of the phenomenon of incomplete exchange rate transfer onto prices including reasons and factors determining the range of this phenomenon. In addition, in this part, a brief overview of theoretical researches involving this subject has been presented. In the next part of the article, the range of exchange rate transfer onto prices in the 'Global Triad countries' by using the Vector Autoregression Model (VAR) has been analyzed.

7

EXCHANGE RATE CHANGES AND PRICE ADJUSTMENTS IN POLAND (Zmiany kursu walutowego a dynamika cen w Polsce)

80%

Misztal P.

Ekonomista

|

2009

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nr 4

455-477

EN

The aim of the article is to present the influence of exchange rate changes on the price dynamics in Poland. Knowledge of the exchange rate pass-through to prices permits assessment of how exchange rates affect inflation and monetary policy. The phenomenon was found of an incomplete exchange rate pass-through to import, producer and consumer prices in Poland, in the short- and long-run. These results are in line with theoretical arguments and indicate that in general the degree of the exchange rate pass-through to import prices is lower in the case of more processed goods and higher in the case of less processed ones. What is more, the degree to which exchange rates are passed through to prices of industrial goods increases with the increase of their substitutability, while the level of exchange rate pass-through to import prices of raw materials, agricultural and food products decreases together with their lower substitutability.

8

EXCHANGE RATE LEVEL, INNOVATION, AND OBSTACLES TO GROWTH. WHO NEEDS A WEAK ZLOTY?

60%

Brzozowski M. , Tchorek G.

Ekonomický časopis (Journal of Economics)

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2018

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tom 66

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nr 2

199 – 222

EN

We have adopted Rodrik’s “undervaluation” hypothesis to verify the conjecture that innovative firms in Poland opt for a weak currency because they face obstacles in the labour and financial markets. We do it by exploring a new database on Polish manufacturing exporters in order to find some interrelations between the exchange rate level and innovation activity. Our findings suggest that a weak Zloty is preferred by exporting firms that have carried out product and process innovations and registered a trademark, patent or claimed a copyright. We confirmed that financial constraints and labour market regulations were important factors preventing the growth of innovative firms. Based on the research on Polish firms, we claim that although innovative companies use technology to gain competitive advantage, their success and innovation activity also hinge on prices in general and on a weak exchange rate in particular because it helps to overcome market imperfections related to financial and labour resources.

9

NOMINÁLNY VÝMENNÝ KURZ A SWAPY ÚVEROVÉHO ZLYHANIA NA VLÁDNE DLHOPISY: KOINTEGRÁCIA A GRANGEROVA KAUZALITA

60%

Boďa M. , Pinter Ľ. , Zimková E.

Ekonomický časopis (Journal of Economics)

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2014

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tom 62

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nr 1

46 – 70

EN

The paper offers an insight into the relationship between the euro to US dollar nominal exchange rate and the cost of sovereign credit default swaps (CDSs) of five selected countries of the Eurozone: Germany and the PIGS countries. The investigation is undertaken under the rationalized belief that the former indicator represents the status of external economic stability of a country and the latter indicator is a descriptor of their internal debt capacity. The results affirm, inter alia, that there were substantial differences in the intensity and quality of the relation between external economic stability and internal debt capacity during the pre-crisis period as opposed to the crisis period.

10

MONETARY CONDITIONS INDEX: NEW EMPIRICAL EVIDENCE FROM CENTRAL AND EASTERN EUROPEAN COUNTRIES

60%

Nucu A. E. , Anton S. G.

Ekonomický časopis (Journal of Economics)

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2018

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tom 66

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nr 2

139 – 158

EN

The aim of the paper is to build a Monetary Conditions Index (MCI) for four Central and Eastern European (CEE) countries by combining changes in the short-term interest rate and in the real effective exchange rate over the period August 2005 – December 2015. Contrary to previous papers, we employ a Vector Error Correction Model to assess the relative importance of real interest rate and real exchange rate for the monetary conditions in several CEE countries. The results of the analysis provide new empirical evidence on the MCI’s ability to capture the monetary policy developments. Furthermore, we employ Granger causality to infer the extent of external influences on the overall monetary conditions of analysed countries. The results highlight that monetary decisions in the Eurozone have a prominent influence on monetary conditions in CEE countries.

11

OIL PRICES AND THE VALUE OF US DOLLAR: THEORETICAL INVESTIGATION AND EMPIRICAL EVIDENCE

60%

Obadi Saleh M. , Othmanová S.

Ekonomický časopis (Journal of Economics)

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2012

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tom 60

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nr 8

771 – 790

EN

This paper deals with the development of oil prices and the factors which have impact on these prices. The main objective of this paper is to identify the impact of movement of exchange rate of US Dollar on crude oil prices. To reach the mentioned objective we have had used theoretical and empirical analyses and methods such as regression model, Granger causality and structural models to identify to what the extent the oil prices depend on the value of US Dollar, as one of the factors influencing the oil prices in the international markets, particularly in the last two decades. We find that US Dollar has a significant impact on oil prices.