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Tytuł:
Demand and supply shock symmetry across Polish voivodeships
Autorzy:
Gajewski, Paweł
Powiązania:
https://bibliotekanauki.pl/articles/414012.pdf
Data publikacji:
2018
Wydawca:
Uniwersytet Warszawski. Instytut Ameryk i Europy. Centrum Europejskich Studiów Regionalnych i Lokalnych (EUROREG)
Tematy:
demand shocks
supply shocks
voivodeships
monetary policy
Opis:
The aim of this paper is to evaluate the symmetry of demand and supply shocks affecting Polish voivodeships and to assess the risk of asymmetric shocks in the future. The study employs the SVAR-based Blanchard and Quah (1989) decomposition as modified by Bayoumi and Eichengreen (1992), and uses a new method of estimating quarterly GDP by voivodeships. The results point to a relatively high symmetry of shocks and a rather low risk of their occurrence. Shock asymmetry does not appear to be strongly related to differences in production structures, which is claimed in most theoretical approaches, including the Optimum Currency Areas Theory.
Źródło:
Studia Regionalne i Lokalne; 2018, 3(73); 50-69
1509-4995
Pojawia się w:
Studia Regionalne i Lokalne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Studies of interaction of plasma jets generated in a plasma focus facility with an ambient plasma in external magnetic field
Autorzy:
Filippov, N.
Filippova, T.
Filippov, A.
Friart, D.
Karakin, M.
Khautiev, E.
Krauz, V.
Mokeev, A.
Myalton, V.
Nikulin, S.
Simonet, F.
Tykshaev, V. P.
Vierne, J.
Vinogradov, V. P.
Powiązania:
https://bibliotekanauki.pl/articles/147551.pdf
Data publikacji:
2001
Wydawca:
Instytut Chemii i Techniki Jądrowej
Tematy:
collisionless shocks
plasma focus
plasma jets
Opis:
The aim of the present experiments was to reproduce and to study in laboratory quasi-perpendicular supercritical collisionless shocks similar to the Earth-Solar Wind shock, by using a plasma focus facility as the plasma source. The experiments were performed on the PF-3 facility (Filippov-type plasma focus) at a level of energy supply of about 1 MJ. Directed plasma jets are produced with axial velocities ~107 cm/s after compression of a plasma-current sheath in the initial stage of plasma focus formation. These jets then travel through an ambient plasma resulting in early gas ionization by X-ray radiation from the plasma focus, and at an angle of 90° to the 2500 G external magnetic field applied by a system based on rear-earth magnets. Our experimental conditions allowed us to reach a range MA ~ 5÷10.
Źródło:
Nukleonika; 2001, 46, 1; 31-34
0029-5922
1508-5791
Pojawia się w:
Nukleonika
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Health shocks and consumption smoothing among rural households in Nigeria
Autorzy:
Onisanwa, Idowu Daniel
Olaniyan, Olanrewaju
Powiązania:
https://bibliotekanauki.pl/articles/522409.pdf
Data publikacji:
2019
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
Consumption smoothing
Coping strategies
Health shocks
Rural household
Opis:
Aim/purpose – The prevalence of poverty among Nigerian households and limited social safety nets predispose the country to health shock. Health shocks are associated with adverse economic consequences: they raise medical expenditure and reduce household consumption. The household responds with informal coping mechanism to smoothen consumption. The coping strategies are limited to household asset endowment and access to credit facility. This study examines the effect of health shock on changes in household consumption and investigates the coping strategies employed in the face of health shock. Design/methodology/approach – The study is anchored on the full-insurance theory. Data were obtained from two waves of the General Household Survey (GHS) panel, 2011 and 2013. The GHS covered 5,000 households across the six geopolitical zones. Three measures of HS, death of a household member, disability and severe illness, were used. The household consumption was divided into food and non-food. A fixed effect model was estimated to examine the impact of health shock on change in consumption. Multinomial Logit Model was used to determine the coping strategies used by households. Findings – Disability and death had a negative effect on food consumption. Death decreased non-food consumption of households, while disability was not statistically significant. Severe illness had significant positive impact on consumption. Borrowing significantly affected the ability of households to maintain consumption. Death reduced rural household consumption in Nigeria. Borrowing was the most prominent coping strategy. Research implications/limitations – Provision of financial protection against health shocks such as payment of disability benefits and assistance to households that report death should be encouraged by the government. The sample was limited to those that reported illness in the four weeks preceding the GHS, thereby excluding those whose illness preceded 28 days before the survey. Originality/value/contribution – Rural-urban dichotomy among households in Nigeria was acknowledged in examining the relationship between health shocks and variation in consumption.
Źródło:
Journal of Economics and Management; 2019, 36; 44-70
1732-1948
Pojawia się w:
Journal of Economics and Management
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
An assessment of the reliability of CFRP composites used in nodes of friction after impact of UV-A impacts and thermal shocks
Autorzy:
Krzyzak, Aneta
Racinowski, Damian
Szczepaniak, Robert
Kosicka, Ewelina
Powiązania:
https://bibliotekanauki.pl/articles/28086918.pdf
Data publikacji:
2023
Wydawca:
Polska Akademia Nauk. Polskie Naukowo-Techniczne Towarzystwo Eksploatacyjne PAN
Tematy:
CFRP composite
aging
thermal shocks
reliability analysis
wear
Opis:
This article describes the results of tribological research into epoxy-based composites reinforced with carbon fiber. The composites were subjected to accelerated tests simulating asemi-annual influence of environmental conditions of an elevated temperature, precipitation in combination with an influence of UV-A radiation of 0.83 W/m2 as well as cyclic thermal shocks causing a leap temperature difference of 116.5°C. The process of friction was conducted in conditions of dry friction and wet friction in the presence of water. The authors found apositive influence of a two-month impact of environmental conditions upon increasing wear resistance. They found a reduction in weight in conditions of friction with water. At the same time, a reliability analysis for the same boundary conditions showed an increased risk of critical composite damage. The article indicates areas of safe exploitation of composites and areas of the necessity of withdrawing composites from further exploitation under the assumed environmental and tribological loads.
Źródło:
Eksploatacja i Niezawodność; 2023, 25, 4; art. no. 174221
1507-2711
Pojawia się w:
Eksploatacja i Niezawodność
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Slowdown of the Polish Economy: Model-Based Simulations
Autorzy:
Welfe, Władysław
Florczak, Waldemar
Powiązania:
https://bibliotekanauki.pl/articles/953216.pdf
Data publikacji:
2010-09-30
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
econometric models
forecasting
simulations
determinants of growth
economic shocks
Opis:
The global financial crisis, and especially the recession that spread across Europe in 2009, also affected Poland. While the Polish economy continued to grow throughout 2009, its growth decelerated considerably in quarterly terms. The paper examines the determinants of the slowdown, based on a simulation macroeconomic model called W8D-2007. The model’s properties are briefly outlined, and then a baseline medium-term forecast is introduced and some simulation exercises are shown, dealing mainly with pessimistic scenarios. By means of simulations based on the W8D model, the paper tries to show the key factors behind the serious slowdown in the Polish economy in 2009. The model examines the impact of declining exports and FDI, on the one hand, and the growing investment risk and positive changes in household consumption, on the other. The possible impact of fiscal and monetary policies is also examined. The effects of a reduction of income tax rates and social contribution rates as well as the implications of an increased budget deficit are also shown, and finally the impact of declining interest rates on investment and consumer demand is evaluated. The likely effects of measures aimed at constraining the increase of unemployment rates are also analyzed. The results are compared with changing forecasts for the Polish economy presented during 2009.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2010, 242, 9; 47-64
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The 5-year Impact of the Ukrainian National Drug Hypersensitivity and Anaphylaxis Guideline on the Management of Hypersensitivity Induced by Local Anesthetics
5-letni wpływ ukraińskich krajowych wytycznych dotyczących nadwrażliwości na leki i anafilaksji na postępowanie w przypadku nadwrażliwości wywołanej miejscowymi środkami znieczulającymi
Autorzy:
Kaidashev, Igor
Gerasymenko, Nataliia
Digtiar, Nataliia
Avramenko, Yanina
Mormol, Irina
Skrypnykov, Petro
Lomikovska, Marta
Chopyak, Valentyna
Dumenko, Tetiana
Granovska, Galyna
Litus, Viktor
Babadzhan, Volodymyr
Powiązania:
https://bibliotekanauki.pl/articles/2215778.pdf
Data publikacji:
2023-03-01
Wydawca:
Oficyna Wydawnicza Mediton
Tematy:
Drug Hypersensitivity
Anaphylaxis
Local anesthetics
Anaphylactic shocks
Drug allergy
Opis:
Background: In Ukraine, drug hypersensitivity and anaphylaxis were traditionally practiced combining aspects of American and European schools. In 2015, the up-to-date Ukrainian National Drug Hypersensitivity and Anaphylaxis Guideline (UNDHAG) which covered diagnostic issues, indications, dosage, mechanisms, adverse effects, and future expectations, was implemented in clinical practice. We investigated the 5-year impact of UNDHAG on the management of drug hypersensitivity and anaphylaxis caused by local anesthetics. Methods: With a nationwide group of allergists, including mentors from postgraduate training programs in Allergy/Clinical Immunology, a questionnaire was developed. The questionnaire consisted of several sections: clinical facilities, physician specialty and experience, number of anesthesia done per week, first aid ability and staffing, anesthesia type and anesthetics used, clinical characteristics of hypersensitivity reactions, epinephrine use, drug diagnostic tests, management of patients with hypersensitivity to local anesthetics, continuous medical education. In total 272 physicians were interviewed in 2016, and 271– in 2020. Data was expressed as numbers and percentages. Statistical comparison between 2 groups was analyzed using the chi-square test.The probability of P<0.05 was considered statistically significant. Results: The majority of interviewed medical specialists were dentists and traumatologists with sufficient work experience. We observed an increase in the use of lidocaine 11.05% (21.86% P<0.0001), bupivacaine 7.99% (13.48%, P<0.0001), and a decrease in the use of chloroprocaine, trimecaine, etidocaine, pyromecaine, oxybuprocaine, bimecaine, prilocaine (P<0.05). The most frequent drug reactions were hypotension, hypertension, loss of consciousness, abdominal syndrome, skin reactions, dyspnea, anaphylaxis (66.95% and 59.97%), and anaphylactic shock (65.53% and 65.77%). Epinephrine administration during anaphylaxis and anaphylactic shock was decreased from 2016 to 2020. There was a dramatic increase in the number of physicians who never used epinephrine from 1.1% to 39.85% (P<0.0001). There was an increase in drug tests provided by allergists up to 21.32% and 36.53% (P=0.0003). We observed a decrease in the conjunctival and subcutaneous drug tests. Unfortunately, the growth of scarification and intradermal tests was detected. Positive and negative controls for in vivo testing were ever used only 8.45% and 8.12%. In case of hypersensitivity to local anesthetics, physicians referred patients to allergists 55.14% and 46.86%, but physicians changed anesthesia type more frequently – 6.98% and 18.45% (P=0.0002). Physicians referred patients to laboratory investigation only in 9.55% and 8.12%. 47.42% and 50.18% of respondents did not use any in vitro tests. At the same time, the Ukrainian Ministry of Health Public Service changed the policy for National Guidelines to liberate it. After that clinics might choose the preferable guidelines from international sources. Conclusion: The Ukrainian National Drug Hypersensitivity and Anaphylaxis Guideline significantly influenced the management of hypersensitivity induced by local anesthetics from 2016 to 2020. On the other hand, the number of anaphylaxis cases was underestimated. There were issues with epinephrine use and drug testing. In our opinion, national regulators should pay more attention to such national guidelines.
Wstęp: Na Ukrainie nadwrażliwość na leki i anafilaksja były tradycyjnie praktykowane, łącząc aspekty szkół amerykańskich i europejskich. W 2015 roku do praktyki klinicznej wdrożono aktualne Ukraińskie Narodowe Wytyczne dotyczące nadwrażliwości na leki i anafilaksji (UNDHAG), które obejmowały zagadnienia diagnostyczne, wskazania, dawkowanie, mechanizmy, działania niepożądane oraz przyszłe perspektywy. Zbadaliśmy 5-letni wpływ UNHAG na leczenie nadwrażliwości na leki i anafilaksji wywołanej miejscowymi środkami znieczulającymi. Metody: Wraz z ogólnokrajową grupą alergologów, w tym mentorami ze szkoleń podyplomowych z zakresu alergologii/immunologii klinicznej, opracowano kwestionariusz. Kwestionariusz składał się z kilku sekcji: placówka kliniczna, specjalizacja i doświadczenie lekarza, liczba znieczuleń wykonywanych w tygodniu, umiejętność udzielania pierwszej pomocy i personel, rodzaj znieczulenia i stosowane środki znieczulające, charakterystyka kliniczna reakcji nadwrażliwości, stosowanie epinefryny, testy diagnostyczne leków, postępowanie z pacjentami z nadwrażliwością na środki miejscowo znieczulające, ustawiczna edukacja medyczna. Łącznie w 2016 roku przeprowadzono wywiady z 272 lekarzami, a w 2020 roku z 271. Dane wyrażono liczbowo i procentowo. Porównanie statystyczne między 2 grupami analizowano za pomocą testu chi-kwadrat. Prawdopodobieństwo P<0,05 uznano za istotne statystycznie. Wyniki: Większość ankietowanych lekarzy specjalistów stanowili lekarze dentyści i traumatolodzy z wystarczającym stażem pracy. Zaobserwowaliśmy wzrost zużycia lidokainy o 11,05% (21,86% P<0,0001), bupiwakainy o 7,99% (13,48%, p<0,0001) oraz spadek zużycia chloroprokainy, trimekainy, etidokainy, piromekainy, oksybuprokainy, bimekainy, prylokaina (P<0,05). Najczęstszymi reakcjami na lek były niedociśnienie, nadciśnienie, utrata przytomności, zespół brzuszny, reakcje skórne, duszność, anafilaksja (66,95% i 59,97%) oraz wstrząs anafilaktyczny (65,53% i 65,77%). Podawanie epinefryny podczas anafilaksji i wstrząsu anafilaktycznego zmniejszyło się w latach 2016-2020. Nastąpił dramatyczny wzrost liczby lekarzy, którzy nigdy nie stosowali epinefryny, z 1,1% do 39,85% (P <0,0001). Nastąpił wzrost testów na obecność narkotyków wykonanych przez alergologów do 21,32% i 36,53% (P=0,0003). Zaobserwowaliśmy spadek testów spojówkowych i podskórnych. Niestety stwierdzono wzrost skaryfikacji i badania śródskórne. Kontrole pozytywne i negatywne do testów in vivo były kiedykolwiek używane tylko w 8,45% i 8,12%. W przypadku nadwrażliwości na środki miejscowo znieczulające lekarze kierowali pacjentów do alergologa 55,14% i 46,86%, ale częściej zmieniali rodzaj znieczulenia – 6,98% i 18,45% (P=0,0002). Lekarze skierowali pacjentów na badania laboratoryjne tylko w 9,55% i 8,12%. 47,42% i 50,18% ankietowanych nie stosowało żadnych badań in vitro. W tym samym czasie ukraińskie Ministerstwo Zdrowia Służby Publicznej zmieniło politykę Krajowych Wytycznych, aby ją uwolnić. Następnie kliniki mogą wybrać preferowane wytyczne ze źródeł międzynarodowych. Wniosek: Krajowe wytyczne Ukrainy dotyczące nadwrażliwości na leki i anafilaksji znacząco wpłynęły na postępowanie w przypadku nadwrażliwości wywołanej miejscowymi środkami znieczulającymi w latach 2016-2020. Z drugiej strony liczba przypadków anafilaksji była niedoszacowana. Wystąpiły problemy z używaniem epinefryny i testowaniem narkotyków. Naszym zdaniem krajowe organy regulacyjne powinny zwracać większą uwagę na takie krajowe wytyczne.
Źródło:
Alergia Astma Immunologia - przegląd kliniczny; 2023, 28, 1; 17-24
1427-3101
Pojawia się w:
Alergia Astma Immunologia - przegląd kliniczny
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Research of engine pistons form point of view of thermal shocks
Autorzy:
Sieminska, B.
Slawinski, Z.
Powiązania:
https://bibliotekanauki.pl/articles/246075.pdf
Data publikacji:
2010
Wydawca:
Instytut Techniczny Wojsk Lotniczych
Tematy:
piston engines
piston composite alloys
thermal shocks
temperature measurements
Opis:
Experimental test results of thermal shocks for heavy duty pistons of combustion engines are presented in the paper. The range and the level of thermal loads were diverse and dependent from working engine conditions as well as the temperature ranges were adapted for real conditions in which pistons of the combustion engine work. temperature measurement results on crown and skirt of a piston during an engine operating under different conditions are presented in the paper. Measured temperature differences during engine operating were greatest in areas, where appeared greatest piston temperatures. Researches of thermal shocks were realized on the special testing device. The device this is automatic, controlled a computer, makes possible the realization of the cycle of research of thermal shocks in the necessary range of the temperature. Test results showed that in following cycles of thermal shocks took place stable changes ofdimensions ofthe piston too. Mainfactors effecting on the resistance of piston materials on thermal shocks are presented in the paper, at this essential parameters influent on the resistance of materials on thermal shocks are coefficients of thermal expansion and Young's modules. In particular thermal shock resistance of the different piston alloys, dependence of dimensional thermal tensions versus the undimensional heat flux, Basic parameters of the composite material AK12 +20%Al2O3 and standard, values of heat conductivity coefficient the and temperature on the composite piston surface, values of stresses due with the temperature field in piston, values strains in the composite piston due the temperature field, the example of the influence of the number of thermal shocks on the deformation of the piston sample are presented in the paper.
Źródło:
Journal of KONES; 2010, 17, 1; 411-420
1231-4005
2354-0133
Pojawia się w:
Journal of KONES
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Agent‐based modelling of macroeconomic shocks in a banking sector
Autorzy:
Dadej, Mateusz
Powiązania:
https://bibliotekanauki.pl/articles/518023.pdf
Data publikacji:
2020
Wydawca:
Uniwersytet Gdański. Wydział Ekonomiczny
Tematy:
macroeconomics
banking sector
agent‐based modelling
macroeconomic shocks
computational economics
Opis:
This paper presents an agent‐based model of banking sector, which includes three kinds of heterogenous agents – households, borrowers and banks. Households provide funds to the banking sector via deposits and are changing their bank of choice stochastically. Borrowers are main source of demand for liquidity in this system, which they utilize for a risky undertaking, that may not succeed, thus defaulting on a loan. And finally banks act as an intermediary between two previous agents and manage their simple balance sheet. Agents interact with each other, establishing a time‐varying equilibrium, that is able to receive an endogenous macroeconomic shock and return to the equilibrium, which may not be in the same place or may exhibit different characteristics depending on type of the shock. The simulation introduces shocks to the three variables, namely minimal reserve ratio, probability of default and capital adequacy ratio. The work also compares drawbacks and advantages of agent‐based models to the commonly used equation‐based models, such as dynamic stochastic general equilibrium models.
Źródło:
Zeszyty Studenckie Wydziału Ekonomicznego „Nasze Studia”; 2020, 10; 9-22
1731-6707
Pojawia się w:
Zeszyty Studenckie Wydziału Ekonomicznego „Nasze Studia”
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Corrosion and thermal shock resistance of metal (Cu, Al) matrix composites reinforced by SiC particles
Autorzy:
Strojny-Nędza, A.
Egizabal, P.
Pietrzak, K.
Zieliński, R.
Kaszyca, K.
Piątkowska, A.
Chmielewski, M.
Powiązania:
https://bibliotekanauki.pl/articles/200646.pdf
Data publikacji:
2020
Wydawca:
Polska Akademia Nauk. Czytelnia Czasopism PAN
Tematy:
metal-matrix composites
silicon carbide
wear resistance
corrosion
thermal shocks
Opis:
This paper presents the results of studies concerning the production and characterization of Al-SiC/W and Cu-SiC/W composite materials with a 30% volume fraction of reinforcing phase particles as well as the influence of corrosion and thermal shocks on the properties of selected metal matrix composites. Spark plasma sintering method (SPS) was applied for the purpose of producing these materials. In order to avoid the decomposition of SiC surface, SiC powder was coated with a thin tungsten layer using plasma vapour deposition (PVD) method. The obtained results were analysed by the effect of the corrosion and thermal shocks on materials density, hardness, bending strength, tribological and thermal properties. Qualitative X-ray analysis and observation of microstructure of sample surfaces after corrosion tests and thermal shocks were also conducted. The use of PVD technique allows us to obtain an evenly distributed layer of titanium with a constant thickness of 1.5 µm. It was found that adverse environmental conditions and increased temperature result in a change in the material behaviour in wear tests.
Źródło:
Bulletin of the Polish Academy of Sciences. Technical Sciences; 2020, 68, 5; 1227-1236
0239-7528
Pojawia się w:
Bulletin of the Polish Academy of Sciences. Technical Sciences
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
“Life-saving” inappropriate implantable cardioverter-defibrillator shocks in a cancer patient
Autorzy:
Futyma, Piotr
Płoszczyca, Marek
Głuszczyk, Ryszard
Kuźniar, Jerzy
Powiązania:
https://bibliotekanauki.pl/articles/1064844.pdf
Data publikacji:
2016
Wydawca:
Medical Education
Tematy:
implantable cardioverter-defibrillator
inappropriate shocks
unexpected return of sinus rhythm
Opis:
Impaired left ventricular ejection fraction (LVEF) in patients with cancer can disqualify them from targeted antineoplastic treatment. We present the case of 63-year-old male with gastric cancer treated palliatively, with concomitant dilated cardiomyopathy, atrial fibrillation (AF) and after implantation of a cardioverter-defibrillator (ICD), in whom inappropriate ICD discharges caused unexpected return of sinus rhythm and significant LVEF improvement, what subsequently led to reclassification to targeted chemotherapy. In conclusion, unexpected return of sinus rhythm in cancer patients with AF and reduced LVEF may lead to LVEF recovery and enable the use of antineoplastic treatment with improved prognosis.
Źródło:
OncoReview; 2016, 6, 3; A118-121
2450-6125
Pojawia się w:
OncoReview
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Multifrequency-based non-linear approach to analyzing implied volatility transmission across global financial markets
Autorzy:
Boateng, Ebenezer
Asafo-Adjei, Emmanuel
Gatsi, John Gartchie
Gherghina, Ştefan Cristian
Simionescu, Liliana Nicoleta
Powiązania:
https://bibliotekanauki.pl/articles/19322599.pdf
Data publikacji:
2022
Wydawca:
Instytut Badań Gospodarczych
Tematy:
shocks transmission
information flow
Rényi transfer entropy
multi-scale
market conditions
Opis:
Research background: The contagious impact of the COVID-19 pandemic has heightened financial market's volatility, nonlinearity, asymmetric and nonstationary dynamics. Hence, the existing relationship among financial assets may have been altered. Moreover, the level of investor risk aversion and market opportunities could also alter in the pandemic. Predictably, investors in the heat of the moment are concerned about minimizing losses. In order to determine the level of hedge risks between implied volatilities in the COVID-19 pandemic through information flow, it is required to take into account the increased vagueness of economic projections as well as the increased uncertainty in asset values as a result of the pandemic. Purpose of the article: The study aims to examine the transmission of information between the VIX-implied volatility index for S&P 500 and fifteen other implied volatility indices in the COVID-19 pandemic. Methods: We relied on daily changes in the VIX and fifteen other implied volatility indices from commodities, currencies, and stocks. The study employed the improved complete ensemble empirical mode decomposition with adaptive noise which is in line with the heterogeneous expectations of market participants to denoise the data and extract intrinsic mode functions (IMFs). Subsequently, we clustered the IMFs based on common features into high, low, and medium frequencies. The analysis was carried out using Rényi transfer entropy (RTE), which allowed for the evaluation of both linear and non-linear, as well as varied distributions of the market dynamics. Findings & value added: Findings from the RTE revealed a bi-directional flow of negative information amid the VIX and each of the volatility indices, particularly in the long term. We found this behavior of the markets to be consistent at varying levels of investors' risk aversion. The findings help investors with their portfolio strategies in the time of the pandemic, which has resulted in fluctuating levels of risk aversion. Our findings characterize global financial markets to be "non-linear heterogeneous evolutionary systems". The results also lend support to the emerging delayed volatility of market competitiveness and external shocks hypothesis.
Źródło:
Oeconomia Copernicana; 2022, 13, 3; 699-743
2083-1277
Pojawia się w:
Oeconomia Copernicana
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The rising cost of servicing public debt: challenges for fiscal policy in a crisis environment
Autorzy:
Bitner, Michał
Nowak-Far, Artur
Sierak, Jacek
Powiązania:
https://bibliotekanauki.pl/articles/33753620.pdf
Data publikacji:
2024-07-02
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Zarządzania i Finansów
Tematy:
sovereign bond yields
debt service cost
external shocks
monetary and fiscal factors
rating
Opis:
The study is devoted to the challenges for the fiscal policies of Central and Eastern European (CEE) countries, resulting from the strong growth of public debt and its servicing costs under the conditions of the pandemic and war shocks. The purpose of the study is to answer the questions: i) what factors caused the sharp increase in sovereign debt yields? ii) is there a correlation between the degree of implementation of sound economic governance (SEG) principles and the cost of servicing sovereign debt? ii) how strong was the response of the sovereign deficit and debt to the shocks caused by the pandemic and war in Ukraine? iii) does the rising cost of servicing debt threaten the sustainability of public finances? v) do the adopted SEG principles remain relevant during periods of shocks? The study covered the 6 largest economies in this part of Europe, i.e. Poland, Romania, the Czech Republic, Greece, Hungary, and Slovakia, but its results apply indirectly to many other countries. The results were confronted with a plan for reforming the EU’s economic governance system in order to identify the fundamental challenges facing the countries studied in this context. On the basis of the study, recommendations were put forward for shaping the assumptions of the state debt management strategy and multi-year financial plans.
Źródło:
Journal of Management and Financial Sciences; 2023, 50; 211-238
1899-8968
Pojawia się w:
Journal of Management and Financial Sciences
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Comparison of External Exposure of Central and Eastern-European States as a Factor Threatening Financial Security of Their Economies
Autorzy:
Redo, Magdalena
Powiązania:
https://bibliotekanauki.pl/articles/519670.pdf
Data publikacji:
2018
Wydawca:
Uniwersytet Mikołaja Kopernika w Toruniu. Wydawnictwo UMK
Tematy:
external exposure
financial stability
creditworthiness
financial security
resilience and vulnerability to external shocks
Opis:
Central and Eastern-European countries are strongly linked to the international economic and financial systems, which results in their dependence on foreign capital and on the upturn in the global markets. This situation also makes them vulnerable to external shocks. Resilience of the economies of CEE countries was additionally diminished by their relatively quick and uncompromising opening up to the process of globalization and European integration. All the economies subject to scrutiny have quite a substantial external debt level (reaching 55–139% of GDP), their net international investment position is quite strongly in the negative (constituting 25–71% of GDP). They are also characterized by high level of foreign liabilities (85–350% of GDP), a significant degree of trade openness (export and import of goods and services amounting to 41–94% of GDP), considerable rate of foreign liquid portfolio investments (even as much as 32% of GDP). Another common feature is the strong financial support received from the EU budget, with CEE countries being its net beneficiaries (with the accumulated value of funds received from the EU budget in 2004–2015 at the level of 21–42% of GDP). It should be borne in mind that Lithuania, Latvia, Estonia, Slovenia and Slovakia are members of the Eurozone, i.e. operate an international currency, which improves their creditworthiness and augments the trust of the global markets. What seems not without significance for investors is the fact that the IMF classified these five CEE countries – as well as the Czech Republic – as advanced economies. In light of the above, it should be stated that the Polish economy is characterized by a relatively strong external exposure relative to the creditworthiness the country boasts. This exposure increases Poland’s vulnerability to shocks and makes it less immune thereto. These circumstances partially explain the higher estimation of the risk premium for investments in Poland, which reduces the state’s opportunities and prospects of development in comparison with other CEE economies. It should be stressed that when assessing the external exposure one must take into account not only its particular characteristics, but also the economic and political stability of a given country – or, more specifically and importantly, their assessment by financial markets.
Źródło:
Historia i Polityka; 2018, 24 (31); 135-159
1899-5160
2391-7652
Pojawia się w:
Historia i Polityka
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The four horsemen of the Apocalypse. Remarks on the book The great leveler. Violence and the history of inequality from the Stone Age to the twenty-first century by Walter Scheidel. Princeton-Oxford: Princeton University Press 2017 - REVIEW ESSAY
Autorzy:
Matera, Paulina
Matera, Rafał
Powiązania:
https://bibliotekanauki.pl/articles/413247.pdf
Data publikacji:
2017
Wydawca:
Łódzkie Towarzystwo Naukowe
Tematy:
violent shocks
inequalities
economic history
Walter Scheidel
Thomas Piketty
gwałtowne wstrząsy
nierówności
historia gospodarcza
Opis:
This article constitutes a review of the book “The great leveler” written by Walter Scheidel. We refer to the issue of constructing theories and pointing out the regularities in history. We present the scientific background of the author, as well as his inspirations from other publications of a similar kind, notably “Capital in the twenty-first century” by Thomas Piketty. We analyse the elements of Scheidel’s thesis that the levelling of income inequalities within the framework of states may come about only from violent shocks: mobilization warfare, transformative revolution, state failure, and lethal pandemics. We comment on each of these factors, offering a critical approach to the author’s interpretation and directions for further research. We also argue that for the studies of income disparities the estimation of data about the middle class is crucial, as the lack of or small scope of it is the most dangerous for domestic stability. The estimations of the top 1% of the richest means less in this context. We also propose a greater focus on the impact of welfare politics in democratic states. However, we highly appreciate the author’s thoroughness in compiling such a great amount of data as well as his logical argumentation, which make his work valuable, convincing, and intellectually stimulating.
Esej zawiera recenzję książki Walter Scheidela “The great leveler”. Odnosimy się w nim to przedstawionej przez Autora teorii oraz dostrzegania przez niego prawidłowości w procesie historycznym. Przedstawiamy syntetycznie biografię naukową Scheidela oraz identyfikujemy Jego inspirację publikacjami, w których podejmowano podobne wątki, szczególnie pracą Thomasa Piketty’ego “Kapitał w XXI wieku”. Odnosimy się do poszczególnych elementów tezy Scheidela, który twierdzi, że wyrównywanie nierówności dochodów w ramach państwa może mieć miejsce jedynie w wyniku silnych wstrząsów, takich jak działania wojenne, rewolucje, upadek państw czy epidemie śmiertelnych chorób. Przedstawiamy krytyczną analizę twierdzeń Autora oraz proponujemy kierunki dalszych badań poszczególnych czynników. Przybliżamy również tezę, że dla badań nad nierównościami dochodów kluczowe są dane dotyczące klasy średniej, gdyż jej brak lub niewielki udział najbardziej zagrażają stabilności wewnętrznej państw. Skupienie się jedynie na 1% najzamożniejszych obywateli ma w tym kontekście mniejsze znaczenie. Proponujemy również wzięcie w większym stopniu pod uwagę polityk społecznych – państwa opiekuńczego – realizowanych w wielu państwach demokratycznych. Mimo tych krytycznych uwag, bardzo pozytywnie oceniamy skrupulatność naukową Autora, który oparł swoje badania na ogromnej liczbie danych. Na najwyższe uznanie zasługuje również logiczna argumentacja. To wszystko czyni Jego wywód przekonującym i inspirującym intelektualnie.
Źródło:
Przegląd Socjologiczny; 2017, 66, 4; 125-138
0033-2356
Pojawia się w:
Przegląd Socjologiczny
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Factors affected the performance of fire clay refractory bricks
Czynniki wpływające na wytrzymałość cegieł z gliny ogniotrwałej
Autorzy:
Elngar, M. A. G.
Mohamed, F. M.
El-Bohy, S. A. H.
Sharaby, C. M.
Shalabi, M. E. H.
Powiązania:
https://bibliotekanauki.pl/articles/349655.pdf
Data publikacji:
2009
Wydawca:
Akademia Górniczo-Hutnicza im. Stanisława Staszica w Krakowie. Wydawnictwo AGH
Tematy:
wytrzymałość
kruszywo szamotowe
kaolin
szok termiczny
siła kompresji
refractory
grog
thermal shocks
compressive strength
Opis:
In this investigation some factors affected the performance of the fire clay refractory bricks such as size of grog, percentage of water added to the raw material, percentage of grog and temperature of firing were studied. The results showed that if the percentage of grog increased the shrinkage of bricks decreased, as well as density of bricks was increasing the porosity and water absorption also increased. Furthermore, with increasing of the added water to the raw material the porosity of the bricks increased and if water absorption increased, density decreased. The characteristics of raw material by such methods as x-ray and chemical analysis were also examined.
W pracy zbadano niektóre czynniki wpływające na wytrzymałość cegieł z gliny ogniotrwałej, tj. rozmiar kruszywa szamotowego, procent dodanej wody, zawartość procentowa kruszywa szamotowego, czy temperatura wypalania. Wyniki wskazały, że gdy zawartość procentowa kruszywa szamotowego zwiększyła się to kurczliwość cegieł malała. Analogicznie, gdy gęstość cegieł rosła, porowatość i absorpcja wody również rosła. Zwiększając ilość wody dodawanej do surowca, wywoływało się zwiększenie porowatości cegieł, zaś gdy absorpcja wody zwiększała się - gęstość materiału malała. Charakterystyka materiału za pomocą promieni X oraz analizy chemicznej została również przedstawiona.
Źródło:
Górnictwo i Geoinżynieria; 2009, 33, 4; 49-61
1732-6702
Pojawia się w:
Górnictwo i Geoinżynieria
Dostawca treści:
Biblioteka Nauki
Artykuł
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