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Tytuł:
The Macroeconomic Effects of the Taylor Rule Deviations in Central and Eastern European Countries
Efekty makroekonomiczne odchyleń od reguły Taylora w gospodarkach Europy Środkowej i Wschodniej
Autorzy:
Shevchuk, Viktor
Powiązania:
https://bibliotekanauki.pl/articles/22618308.pdf
Data publikacji:
2002
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
Taylor rule
output
inflation
exchange rate
SVAR
reguła Taylora
dochód
inflacja
kurs walutowy
Opis:
A standard Taylor rule was estimated for several Central and Eastern European (CEE) countries (Czechia, Hungary, Poland, Romania) based on quarterly data over the 2002-2021 period. The SVAR model indicates, for all CEE countries, that the level of central bank policy rate below the Taylor rule implied rate is caused by both output gap and inflation, with the Taylor rule deviations having heterogeneous effects on other endogenous variables. Among other results, the depreciation of the exchange rate is contractionary and inflationary, the output gap is inflationary (except for Romania), while inflationary effects on output are different across the CEE countries.
Wykorzystując dane kwartalne z lat 2002-2021, standardową regułę Taylora oszacowano dla czterech krajów Europy Środkowej i Wschodniej (Czech, Węgier, Polski i Rumunii). Posługując się modelem SVAR, otrzymano, że we wszystkich krajach EŚW zaniżony poziom stopy procentowej banku centralnego względem stopy na podstawie reguły Taylora jest spowodowany przez lukę dochodu oraz inflację. Jednocześnie odchylenia od reguły Taylora mają zróżnicowany wpływ na inne zmienne endogeniczne. Ponadto stwierdzono, że deprecjacja kursu walutowego przeważnie powoduje cykliczny spadek dochodu oraz przyspieszenie inflacji, cykliczny boom jest inflacyjny (z wyjątkiem Rumunii), a także wskazano, jak efekty inflacyjne względem dochodu różnią się w przekroju poszczególnych krajów EŚW.
Źródło:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2023, 67, 4; 132-142
1899-3192
Pojawia się w:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Generalized inflations and null extensions
Autorzy:
Wang, Qiang
Wismath, Shelly
Powiązania:
https://bibliotekanauki.pl/articles/729115.pdf
Data publikacji:
2004
Wydawca:
Uniwersytet Zielonogórski. Wydział Matematyki, Informatyki i Ekonometrii
Tematy:
inflation
generalized inflation
null extension
variety of semigroups
bands
Opis:
An inflation of an algebra is formed by adding a set of new elements to each element in the original or base algebra, with the stipulation that in forming products each new element behaves exactly like the element in the base algebra to which it is attached. Clarke and Monzo have defined the generalized inflation of a semigroup, in which a set of new elements is again added to each base element, but where the new elements are allowed to act like different elements of the base, depending on the context in which they are used. Such generalized inflations of semigroups are closely related to both inflations and null extensions. Clarke and Monzo proved that for a semigroup base algebra which is a union of groups, any semigroup null extension must be a generalized inflation, so that the concepts of null extension and generalized inflation coincide in the case of unions of groups. As a consequence, the collection of all associative generalized inflations formed from algebras in a variety of unions of groups also forms a variety.
In this paper we define the concept of a generalized inflation for any type of algebra. In particular, we allow for generalized inflations of semigroups which are no longer semigroups themselves. After some general results about such generalized inflations, we characterize for several varieties of bands which null extensions of algebras in the variety are generalized inflations, and which of these are associative. These characterizations are used to produce examples which answer, in our more general setting, several of the open questions posed by Clarke and Monzo.
Źródło:
Discussiones Mathematicae - General Algebra and Applications; 2004, 24, 2; 225-249
1509-9415
Pojawia się w:
Discussiones Mathematicae - General Algebra and Applications
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
An inflationary inventory model with time dependent demand with Weibull distribution deterioration and partial backlogging under permissible delay in payments
Autorzy:
Basu, M.
Sinha, S.
Powiązania:
https://bibliotekanauki.pl/articles/969730.pdf
Data publikacji:
2007
Wydawca:
Polska Akademia Nauk. Instytut Badań Systemowych PAN
Tematy:
inflation
partial backlogging
Weibull distribution
permissible delay in payments
Opis:
This paper proposes to present a general inventory model with due consideration to the factors of time dependent partial backlogging and time dependent deterioration. It also takes into account the impact of inflation, time-dependent demand and permissible delay in payments.
Źródło:
Control and Cybernetics; 2007, 36, 1; 203-217
0324-8569
Pojawia się w:
Control and Cybernetics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Kwantowe stworzenie Wszechświata
Quantum creation of the Universe
Autorzy:
Heller, Michał
Powiązania:
https://bibliotekanauki.pl/articles/690622.pdf
Data publikacji:
2007
Wydawca:
Copernicus Center Press
Tematy:
Hartle-Hawking model
inflation
quantum creation
Opis:
The paper discusses the idea of quantum creation of the universe. After a few remarks concerning inflationary models and Tryon's idea of the world's origin as a fluctuation in the preexisting vacuum, the Hartle-Hawking quantum creation model is presented. Its structure and assumptions are discussed, and interpretative difficulties related to the mechanism of 'quantum creation' pointed out. The paper discusses the idea of quantum creation of the universe. After a few remarks concerning inflationary models and Tryon's idea of the world's origin as a fluctuation in the preexisting vacuum, the Hartle-Hawking quantum creation model is presented. Its structure and assumptions are discussed, and interpretative difficulties related to the mechanism of 'quantum creation' pointed out.
Źródło:
Zagadnienia Filozoficzne w Nauce; 2007, 41; 3-15
0867-8286
2451-0602
Pojawia się w:
Zagadnienia Filozoficzne w Nauce
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Oczekiwania inflacyjne polskich przedsiębiorstw a przejrzystość polityki banku centralnego
The Inflation Expectations of Polish Enterprises and the Transparency of Central Bank Policy
Autorzy:
Czogała, Anna
Kot, Adam
Powiązania:
https://bibliotekanauki.pl/articles/574537.pdf
Data publikacji:
2007-04-30
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
inflation expectations
monetary policy transparency
direct inflation targeting strategy
corporate sector
Opis:
The paper analyzes the inflationary expectations of Polish enterprises and attempts to interpret them in the context of the transparency of monetary policy. The study presents the evolution of monetary policy transparency in Poland since the introduction of the direct inflation targeting strategy and examines the rationality of inflation expectations among businesses in light of the changing communication strategies of the Polish central bank. A new method is proposed to investigate the development of enterprises’ inflation expectations. This method uses information about the distribution of these expectations, which makes it possible to estimate their rationality for each quarter covered by the analysis. This approach makes it possible to examine changes in inflation expectations and the influence of monetary policy. The results of the analysis indicate that inflation expectations in the corporate sector were relatively rational throughout the analyzed period, with no significant changes over time. Therefore the impact of monetary policy transparency on inflation expectations in Poland’s corporate sector appears to be limited, the authors conclude. However, they add that this influence may actually be greater than it seems because the full effect of monetary policy may only be felt after a considerable time lag.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2007, 215, 4; 49-70
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Inflation Dynamics in the "New" EU Member State : Poland 1998-2006
Dynamika inflacji w nowych krajach członkowskich UE : Polska 1998-2006
Autorzy:
Rusek, Antonin
Powiązania:
https://bibliotekanauki.pl/articles/904947.pdf
Data publikacji:
2008
Wydawca:
Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:
inflation
econometric modeling
long-term equilibrium price level
inflacja
modelowanie ekonometryczne
długookresowa równowaga poziomu cen
Opis:
The reduction of inflation to an average EU level is a necessary precondition for any new EU member state to join the Euro area Inflation in Poland is analyzed by using the monetarist P-star model. It appears that in the Polish case the P-star model describes the Polish inflationary process reasonably well. However, adjustment to the equilibrium level (inflation target) is rather slow.
Redukcja inflacji do średniego poziomu UE stanowi dla niektórych nowych krajów członkowskich UE wymóg konieczny do ich wstąpienia do strefy Euro. Inflacja w Polsce jest analizowana przy zastosowaniu monetarystycznego modelu "P-star" (P*). Okazuje się, że w przypadku Polski model ten opisuje dynamikę inflacji w latach 1998-2006 nadspodziewanie dobrze. Jakkolwiek, dojście aktualnego wskaźnika cen towarów i usług konsumpcyjnych do poziomu długookresowej równowagi P* jest raczej powolne.
Źródło:
Acta Universitatis Lodziensis. Folia Oeconomica; 2008, 223
0208-6018
2353-7663
Pojawia się w:
Acta Universitatis Lodziensis. Folia Oeconomica
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
k-Normalization and (k+1)-level inflation of varieties
Autorzy:
Cheng, Valerie
Wismath, Shelly
Powiązania:
https://bibliotekanauki.pl/articles/728838.pdf
Data publikacji:
2008
Wydawca:
Uniwersytet Zielonogórski. Wydział Matematyki, Informatyki i Ekonometrii
Tematy:
k-normal identities
k-normalization of a variety
(k+1)-level inflation of algebras
Opis:
Let τ be a type of algebras. A common measurement of the complexity of terms of type τ is the depth of a term. For k ≥ 1, an identity s ≈ t of type τ is said to be k-normal (with respect to this depth complexity measurement) if either s = t or both s and t have depth ≥ k. A variety is called k-normal if all its identities are k-normal. Taking k = 1 with respect to the usual depth valuation of terms gives the well-known property of normality of identities or varieties. For any variety V, there is a least k-normal variety $N_k(V)$ containing V, the variety determined by the set of all k-normal identities of V. The concept of k-normalization was introduced by K. Denecke and S.L. Wismath in [5], and an algebraic characterization of the elements of $N_k(V)$ in terms of the algebras in V was given in [4]. In [1] a simplified version of this characterization of $N_k(V)$ was given, in the special case of the 2-normalization of the variety V of all lattices, using a construction called the 3-level inflation of a lattice. In this paper we show that the analogous (k+1)-level inflation can be used to characterize the algebras of $N_k(V)$ for any variety V having a unary term which satisfies two technical conditions. This includes any variety V which satisfies x ≈ t(x) for some unary term t of depth at least k, and in particular any variety, such as the variety of lattices, which satisfies an idempotent identity.
Źródło:
Discussiones Mathematicae - General Algebra and Applications; 2008, 28, 1; 49-62
1509-9415
Pojawia się w:
Discussiones Mathematicae - General Algebra and Applications
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Makroekonomiczne uwarunkowania i efekty wzrostu gospodarczego w Irlandii
The Macroeconomic Determinants and Effects of Economic Growth in Ireland
Autorzy:
Heller, Janusz
Ewertowska, Emila
Powiązania:
https://bibliotekanauki.pl/articles/574656.pdf
Data publikacji:
2008-06-30
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
Ireland
economic growth
Inflation
unemployment
neoliberalism
state intervention
Opis:
The authors describe a combination of factors that have influenced economic growth in Ireland. The study relies on description methods, tabular analysis and synthesis. Ireland joined the European Community in 1973, but the first few years of membership brought no major benefits for the country. This means that European Community membership alone was not enough to spur the Irish economy, Heller and Ewertowska note. In the initial period after joining the European Community, Ireland experienced stagnation and a regression that eventually led to stagflation, an extremely dangerous trend that lasted from 1981 to 1983. It was not until 1984 that the Irish government brought inflation under control and kept in check effectively for many years. This successful campaign against inflation was the first macroeconomic development that laid the groundwork for sustained economic growth in Ireland, the authors say. In 1987-1997 four social partnership agreements were made in Ireland. The reforms combined neoliberal concepts with state intervention. The government streamlined expenditure, reduced the budget deficit and public debt, accelerated privatization, and reduced the rate at which pay grew, in addition to cutting non-wage labor costs. At the same time, the government offered tax breaks and preferential treatment to investors in selected industries and it also granted subsidies to those providing employee training and retraining programs. These measures were supported by an inflow of foreign direct investment and funds from European Union coffers. All these efforts were oriented toward structural changes in the infrastructure sector and the economy as a whole. As a result, Ireland stopped being a poor and backward country that it was when it joined the European Community in 1973. It grew into one of the wealthiest countries in the EU. In 1973, Ireland’s GDP per capita was just 64 percent of the EC average. In 2005, the country’s GDP per capita accounted for 139 percent of the EU average and was the second-highest in the EU after that of Luxembourg. The main source of Ireland’s success story has been the country’s ability to skillfully combine market (neoliberal) mechanisms with state intervention, Heller and Ewertowska say. This means that Ireland is not a liberal country according to the definition used in classical economics, the authors conclude.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2008, 224, 5-6; 111-130
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Popytowe determinanty procesów inflacyjnych w polskiej gospodarce okresu transformacji
The Demand-Pull Determinants of the Process of Inflation in Polish Economy in the Period of Transformation
Autorzy:
Grabia, Tomasz
Powiązania:
https://bibliotekanauki.pl/articles/907280.pdf
Data publikacji:
2008
Wydawca:
Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:
inflacja
popyt konsumpcyjny
przekształcenia ustrojowo-systemowe
przekształcenia systemowe
produkt krajowy brutto (PKB)
inflation
customer demand
systemic transformation
gross domestic product (GDP)
Opis:
Wydrukowano z dostarczonych Wydawnictwu UŁ gotowych materiałów
The article is intended to test if demand-pull determinants had an impact on inflation in Poland in the period 1989-2003. The paper is composed of four parts. The first part contains a brief discussion of the influence of various economic factors on inflation. Part two presents a detailed analysis of statistical data concerning GDP and its components in Poland in the period of transformation. The main part of the article is contained in the third point, in which the approximate estimate of inflationary gap and potential national income in Poland was presented. The summary and conclusions are formulated in the last part. In addition to this, the author points to the years, in which the demand-pull factors played crucial role in the process of inflation.
Źródło:
Acta Universitatis Lodziensis. Folia Oeconomica; 2008, 219
0208-6018
2353-7663
Pojawia się w:
Acta Universitatis Lodziensis. Folia Oeconomica
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Reguła Taylora i jej rozszerzenia
The Taylor Rule and Its Extension
Autorzy:
Baranowski, Paweł
Powiązania:
https://bibliotekanauki.pl/articles/574363.pdf
Data publikacji:
2008-08-31
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
Taylor rule
monetary policy
interest rates
Inflation
Opis:
The paper discusses the key aspects of research on a modern monetary policy rule proposed by American economist John B. Taylor in 1993. The Taylor rule stipulates how much the central bank should change the nominal interest rate in response to divergences of actual GDP from potential GDP and divergences of actual rates of inflation from a target rate of inflation. The rule recommends a relatively high interest rate (a "tight" monetary policy) when inflation is above its target or when the economy is above its full employment level, and a relatively low interest rate ("easy" monetary policy) in the opposite situations. Baranowski discusses many aspects of the Taylor rule, including the type of interest rates subject to analysis; the need to use real-time data; additional variables that may influence interest rates; the method of measuring variables; and the stability of the analyzed parameters. The paper also shows how the Taylor rule is used in practice. The rule can be used to analyze monetary policy, make international comparisons, and forecast interest rates. It can be an important component of both theoretical and empirical economic models, the author says.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2008, 225, 7-8; 1-23
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Bezwzględna stopa inflacji w gospodarce polskiej
The Pure Inflation Rate in the Polish Economy
Autorzy:
Brzoza-Brzezina, Michał
Kotłowski, Jacek
Powiązania:
https://bibliotekanauki.pl/articles/575677.pdf
Data publikacji:
2009-09-30
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
monetary policy
relative prices
restricted factor model
Harmonized Index of Consumer Prices (HICP)
pure inflation
core inflation
Opis:
The authors use a restricted factor model to estimate the Harmonized Index of Consumer Prices (HICP) excluding relative price changes. The index obtained in this way, referred to as pure inflation, demonstrates a stronger relationship to the central bank’s short-term interest rate than the HICP index and selected measures of core inflation. Pure inflation also has a forecasting effect on the future HICP, comparable or better than that of competing models. The estimated variable shows that changes in relative prices played a much smaller role in the recent period of rising inflation (2006-2008) than during previous inflation increases (1999-2000 and 2004-2005). This shows that inflation was mainly driven by demand pressures in 2006-2008, the authors conclude.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2009, 234, 9; 1-21
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
La crisis hiperinflacionaria de 1989 y su resolución: lucha entre fracciones de capital y surgimiento de una alianza contra el trabajo tras la privatización de las empresas públicas en Argentina
Autorzy:
Capogrossi, Lorena
Powiązania:
https://bibliotekanauki.pl/articles/2087659.pdf
Data publikacji:
2009
Wydawca:
Uniwersytet Warszawski. Wydział Neofilologii
Tematy:
public politic
capital fractions
work
privatization of public enterprises
hyper-inflation crisis
Opis:
La crisis hiperinflacionaria de 1989-1990 en Argentina inaugura un período de lucha entre diferentes fracciones de capital por la orientación del rumbo económico del país. Esta lucha cristalizará también en las instituciones del Estado, particularmente en el Ministerio de Economía, quien irá definiendo la orientación de las políticas públicas de acuerdo a la relaciónde fuerza que prime en ese momento. De este modo los grupos concentrados locales serán beneficiados en una primera etapa para luego ser desplazados por la banca acreedora. Este conflicto de intereses se resuelve tras la entrada del país en el Plan Brady cuando se conforma unaalianza entre las distintas fracciones de capital contra el trabajo. El programa de privatizaciones encarado por la administración Menem y las políticas de ajuste estructural dictadas por los organismos de crédito internacional son dos de los fenómenos que contribuyen a la confluencia de estos sectores, precarizando la situación de miles de trabajadores argentinos.
Źródło:
Itinerarios; 2009, 9; 205-225
1507-7241
Pojawia się w:
Itinerarios
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Polityka pieniężna a kryzysy finansowe
Monetary Policy and Financial Crises
Autorzy:
Koronowski, Adam
Powiązania:
https://bibliotekanauki.pl/articles/575731.pdf
Data publikacji:
2009-10-31
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
monetary policy
financial crisis
Inflation
financial stability
Opis:
The paper discusses the role of monetary policy in preventing financial crises and offsetting their implications. The paper provides a critical evaluation of views on the relationship between monetary policy and financial crises. The author looks at this issue in the context of practical experiences, especially those coming from the U.S. market, where the analyzed ties seem to be the most prominent. The author concludes that a monetary policy exclusively focused on the prices of goods and services and oriented toward keeping inflation in check in the short term, may create an environment conducive to the outbreak of a financial crisis. The probability of such a situation is especially high if the financial market is heavily liberalized and poorly supervised, Koronowski says. However, the main conclusion is that a financial crisis may be prompted by an excessive, prolonged increase in the liquidity of the banking sector after a decline in financial stability or as a result of failed central bank attempts to stimulate credit expansion and economic growth. Yet another conclusion is that monetary policy must be stable not only in terms of inflation, but also in terms of the price of money, Koronowski says. This is indispensable for a healthy financial sector and robust economic growth, the author adds.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2009, 235, 10; 33-48
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Czy dezagregacja indeksu cen poprawia prognozy polskiej inflacji?
Forecasting Inflation Components – Does it Help to Predict Polish Inflation?
Autorzy:
Baranowski, Paweł
Mazurek, Małgorzata
Nowakowski, Maciej
Raczko, Marek
Powiązania:
https://bibliotekanauki.pl/articles/1827218.pdf
Data publikacji:
2010-03-31
Wydawca:
Główny Urząd Statystyczny
Tematy:
prognozowanie
inflacja
subindeksy cen
agregacja
forecasting
inflation
inflation components
sectoral aggregation
Polska
Opis:
W dotychczasowych badaniach rozważa się celowość wykorzystania na cele prognostyczne danych o niższym stopniu agregacji (np. dla inflacji Hubrich, 2005; Reijer and Vlaar, 2006). W artykule badamy czy prognozowanie 12 subindeksów cen dóbr i usług konsumpcyjnych (komponentów inflacji), a następnie ich agregacja poprawia trafność prognozy inflacji. Prognozy inflacji oraz jej poszczególnych komponentów wyznaczymy przy pomocy modeli autoregresji (AR), średniej ruchomej (MA), wektorowej autoregresji (VAR) oraz autoregresji progowej (TAR). Otrzymane wyniki nie pozwalają jednoznacznie rozstrzygnąć postawionego problemu. Okazuje się, że dla modeli AR i TAR dezagregacja nie pozwala zmniejszyć błędów prognoz, dla modeli MA nie otrzymano jednoznacznych wskazań testów, zaś dla VAR zmniejsza błędy prognoz.
This paper examines whether forecasting CPI components improves CPI forecast. We exploit quarterly data for Poland, disaggregated into 12 components. We follow methodology used in previous studies for Euro Area (Hubrich, 2005; Reijer and Vlaar, 2006). AR, MA, TAR and unrestricted VAR models are estimated using recursive sample and aggregated into CPI. Using out-of-sample forecasts, these models are evaluated and compared to the benchmark -- equivalents for aggregate CPI. The evidence is mixed. VAR component-forecast outperform benchmark. Contrary to VAR, for AR and TAR models we do not find substantial gain from using disaggregated data. Results for MA models are not robust. Moreover, it seems that results for AR- and VAR-based forecasts are comparable to consensus forecast.
Źródło:
Przegląd Statystyczny; 2010, 57, 1; 17-33
0033-2372
Pojawia się w:
Przegląd Statystyczny
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Czynniki wyjaśniające zjawisko luki percepcji wśród konsumentów w okresie przyjmowania euro
A Perception Gap Among Consumers at the Time of Euro Adoption
Autorzy:
Mucha, Krystian
Powiązania:
https://bibliotekanauki.pl/articles/575425.pdf
Data publikacji:
2010-02-28
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
perception gap
single European currency
euro
consumer theory
Inflation
Opis:
The paper describes a wide range of approaches to what is known as a perception gap among consumers in the European Union after most member countries switched to the single European currency in 2002. The author focuses on issues linked with the consumer theory, analyzing why consumers are unable to properly estimate the value of inflation-in terms of its compatibility withtheHarmonized Index of Consumer Prices (HICP), an inflation and price stability indicator used by the European Central Bank. The first part of the paper outlines research theories related to the perception gap. These include the theories of limited rationality and rational passivity, in addition to behavioral economics and neuroeconomics. The second part of the paper discusses factors behind the perception of inflation, taking into account theoretical discussions conducted as part of various scientific disciplines. This approach is designed to show the state of debate on the perception of inflation and stress the growing role of heterodox approaches in contemporary economics, Mucha says.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2010, 237, 1-2; 67-87
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł

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