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Macroeconomic imbalance procedure (MIP) scoreboard indicators and their predictive strength of ?multidimensional crises?
No full textResearch background: The evaluation of the predictive strength of MIP indicators in relation to crises is extremely important for the process of coordinating the economic policies of the EU countries. MIP is one of the pillars of the economic crisis prevention procedure. Predictive power of individual indicators has not been tested before their introduction.
Purpose of the article: Evaluation of the predictive strength of fourteen MIP indicators in relation to multidimensional crises in the EU countries.
Methods: We used ordered probit model to test the ability of MIP indicators to correctly predict episodes of ?multidimensional crises? (as defined by the authors) in the period between 2008 and 2017 in all EU Member States.
Findings & Value added: We defined ?multidimensional crises?, combining several negative phenomena into one limited dependent variable. This work is also novel in its application of probit regression to test the predictive strength of MIP indicators with an ordered probit model. We identified five MIP variables which were statistically significant in predicting ?multidimensional crises? for all EU countries: net international investment position, nominal unit labour cost index, house price index, private sector credit flow and general government gross debt. Other variables turned out to be less important or not effective in crises prediction
Estimating the parameter of inequality aversion on the basis of a parametric distribution of incomes
No full textResearch background: In applied welfare economics, the constant relative inequality aversion function is routinely used as the model of a social decisionmaker?s or a society?s preferences over income distributions. This function is entirely determined by the parameter, ?, of inequality aversion. However, there is no authoritative answer to the question of what the range of ? an analyst should select for empirical work.
Purpose of the article: The aim of this paper is elaborating the method of deriving ? from a parametric distribution of disposable incomes.
Methods: We assume that households? disposable incomes obey the generalised beta distribution of the second kind GB2(a,b,p,q). We have proved that, under this assumption, the social welfare function exists if and only if ? belongs to (0,ap+1) interval. The midpoint ?mid of this interval specifies the inequality aversion of the median social-decisionmaker.
Findings & Value added: The maximum likelihood estimator of ?mid has been developed. Inequality aversion for Poland 1998?2015 has been estimated. If inequality is calculated on the basis of disposable incomes, the standard inequality?development relationship might be complemented by inequality aversion. The ?augmented? inequality?development relationship reveals new phenomena; for instance, the stage of economic development might matter when assessing the impact of inequality aversion on income inequality
Long-run inflation expectations in the ECB survey of professional forecasters: what do the survey responses tell us?
No full textResearch background: At the background, there are issues related to policy credibility and policy targets. For these issues, long-term forecasts can provide important information. Of course, long-term forecasts are needed also e.g. for evaluation of real returns.
Purpose of the article: This paper tries to find out how informative the ECB Survey of Professional Forecasters data on long-term inflation prospects are from the point of view of the overall quality of the survey and on the other hand from the point of view of monetary policy credibility.
Methods: The analysis makes use of individual forecaster level quarterly panel data for the period 1999Q1?2018Q4. Conventional panel econometrics tools are used to find out whether forecasts are sensitive to changes in actual inflation and other relevant variables.
Findings & Value added: We find some weaknesses considering the size of the survey, the selection of the sample (more precisely the participation to the survey) and the inertial responses of forecasters which suggest that the survey values are not actively updated. Moreover, we find that towards the end of the sample period, the survey values are related to actual inflation and to short-term expectations, which is not consistent with the credibility of the official inflation target. 
Rural?urban divide in human capital in Poland after 1988
No full textResearch background: The subject of the study is the disproportionate development of rural and urban areas in terms of human capital in the context of the convergence process.
Purpose of the article: The main goal of the study is to assess the rural?urban disparities on the educational attainment of the population (adopted as a human capital proxy), based on the example of Poland.
Methods: The Bray-Curtis measure of structures diversity, the Kruskal-Wallis test and regression analysis were applied to investigate the scale and dynamic of the rural?urban educational divide in Poland in the period 1988?2018.
Findings & Value added: The paper emphasizes the aspect of rural?urban differences in the Polish economy and their dynamic nature. Studies have revealed that in 1988?2018, in Poland, the disparity in educational attainment between rural and urban populations was gradually reduced. This process, however, was not accompanied by the reduction of internal educational disparities in the rural space. The study results are helpful in verifying the effectiveness of public funds, allocated in recent years in order to accelerate the multi-functional development of rural areas in Poland and other CEE countries
Can discounts expand local and digital currency awareness of individuals depending on their characteristics?
No full textResearch background: Because of enabling a greater amount of money circulation and addressing the needs of individuals in specific regions, local and digital currencies have become more important for local economic and sustainable development, especially in last decade. However, their awareness by potential users have become one of major constraints to their extensive usage. In this regard, discount have been used to increase the awareness of individuals.
Purpose of the article: As discount is used as an effective promotional tool. This study pays regard to this indicator and aims to investigate whether the discount rate is positively associated with local and digital currency awareness of potential users. Moreover, this research also includes job positions and age of the respondents into the analyses due to potential existence of differences in the awareness of people regarding their characteristics.
Methods: The research employs a questionnaire survey and acquires data from 407 workers of a local business in Cieszyn Silesia region of the Czech Republic. The researchers run Binary Logistic Regression analyses in IBM SPSS Software to examine the relationship between these specified variables.
Findings & Value added: The research substantiates the fact that potential users who demand more discount rates are more likely to be aware of local and digital currencies. Moreover, potential users who work in lower job positions and demand more discounts are more acquainted with these currencies. Although the existence of a relationship between age and local currency awareness is not proved, older people who demand discounts with higher percentages are more informed about digital currencies than younger individuals. Higher elasticity in discount demand, mutual interactions and relations, such as social media and internet usage of potential users, might be the reasons of these results. This study makes significant contributions to the literature by confirming the significance of individuals? ages and occupational statuses in the awareness of local and digital currencies and the positive relationship between their discount propensity and awareness
Price strategies of mobile operators in Russia in the conditions of the global economic recession
No full textResearch background: Currently, the four major mobile communications providers dominate the Russian market. The oligopolistic structure leads to negative consequences, such as a weak stimulus for the product development or technological innovation, and the lack of incentive for the call-rate reduction. In their line of work, the mobile service providers use different price strategies. To comprehend what determines the current price level and what changes one should expect therein, we have to understand which factors influence the price of the mobile services.
Purpose of the article: The chief goal of this work is the analysis of the influence of the crisis on the price strategies of the providers, as well as the forecasting of the changes of prices for their services. As the main hypothesis, this work presents the assumption that during the recession the price of the mobile services in the different regions of Russia will grow.
Methods: The authors built regression models for the dependence of the average price of the mobile providers? services in a particular region from the selected factors. In this work, we selected the following types of the multiple regression equation as the modeling functions: linear, power-law, exponential. Adding the time factor (t) is the key element of the forecasting.
Findings & Value added: After gathering the data and the subsequent calculation of the medium price baskets, we were able to build different multiple regression models. To build the forecasts for the dynamics of prices in the regions for the year 2018 we selected the best regression models. The analysis of the acquired forecasting results generally proved our hypothesis about the growth of the average prices for the mobile communications services, expected in 2018 in the majority of regions. The analysis itself, the programs created for its implementation, as well as the results obtained, can, in our opinion, be considered as some contribution to the development of the theory of price competition in oligopolistic markets. The mobile services? markets in many EU countries have a similar structure, and, with this in mind, the results of forecasting price dynamics obtained from Russian experience may be of interest to scholars dealing with similar problems in their respective countries, including the possibility of conducting comparative studies
Proactive customer orientation and joint learning capabilities in collaborative machine to machine innovation technology development: the case study of automotive equipment manufacturer
No full textResearch background: There is a considerable amount of literature focused on customers? motivation to participate in cooperative new product development [NPD], but previous research neglected the suppliers? perspective concerning organizational mechanisms for the facilitation of customer involvement in cooperative new product development.
Purpose of the article: The aim of the study is to explore the influence of two kinds of dynamic capabilities, proactive customer orientation [PCO] and joint learning capability [JLC] on the acceptance and use of machine to machine interaction [M2M] in collaborative innovation development [CID], from the supplier?s perspective.
Methods: The research is based on a case study carried out from June 2018 till June 2019 of a Polish automation integrator supplying a manufacturer of automotive equipment, i.e. automotive industry, in a fully robotized workstation. In order to understand how the company functions in this case, in-depth interviews with the company?s employees have been conducted.
Findings & Value added: The results revealed that intelligent devices, interacting machines, and real-time data transfer to the supplier may cause disruptions through their impact on establishing trustful business relationships. We believe our findings could have a profound impact on the way how proactive customer orientation and relational interactions supported knowledge sharing and joint learning sense-making through operational meetings and on-the-job workshops which role was to evaluate the collaborative project
The financial transaction tax: an ANOVA assessment of selected EU countries
No full textResearch background: There are various forms of fiscal taxation of the financial assets. In recent times, the discussion about financial transaction tax in the EU is associated with finding the solution to problems due to great financial crisis. The European Commission has made some efforts to strengthen capital regulation and it has adopted the Directive about implementing enhanced cooperation in the field of financial transaction tax, where it analyzed options and impacts of FTT according to those countries which have already implemented similar transaction taxes in their national legislatives.
Purpose of the article: Our aim is to find out the economic relationship between FTT and economic growth and to analyze the effect of FTT within selected EU countries.
Methods: In this paper, we will analyze the banking environment in the EU area, and we emphasize the correlation between tax policy and economic growth. We will test FTT through three-way mixed-effects ANOVA, and analyze three Member states, Belgium, Ireland and the United Kingdom, which have very active attitude to implementation of FTT within other EU countries.
Findings & Value added: We are interested in: (1) testing the relationship between the financial transaction tax (FTT) and economic growth (GDP); and (2) to verify the hypothesis that FTT could improve GDP growth in a country. We assume that if a country has adopted FTT in its tax system, then it will lead to a significant GDP growth, and so it could lead to financial market improvement after the crisis. Our results have shown that an increase in FTT volume would lead only to a negligible increase in the economic growth
A multivariate approach to the identification of initial smart specialisations of Polish voivodeships
No full textResearch background: The identification of smart specialisations should be based on information allowing the identification of resources and capital in the regions, which constitute the unique value of the area providing for the development of competitive advantages based on innovations and achievements in the research and development activities.
Purpose of the article: The key goal is to present the proposal to use an aggregate (synthetic) measure for the purpose of identifying regional development potentials and next the initial smart specialisations (RSS). This approach is particularly useful at the very initial stage of recognizing the potential in the region, and ? after some modifications ? may offer a useful tool for assembling the de-velopment of industries (services) in the region. The additional goals are: (1) to organize the knowledge regarding statistical approaches and selected methods to be used in the process of identifying initial smart specialisations in regions (RSS); (2) exemplification of the presented methodology for the initial regional smart specialisations (RSS) identification in voivodeships in Poland based on a multivariate approach.
Methods: Multivariate statistical analysis (MSA) methods are used in the identification procedure of initial regional smart specialisations (RSS), which allowed for performing the assessment in 4 areas: resources and capital; specialisation; development potential (dynamics); the involvement in research and development and innovative activities. They can also be extended with additional dimensions related to the cooperation of enterprises with social or environmental priorities.
Findings & Value added: The conducted procedure allowed identifying NACE rev. 2 divisions useful in determining development potentials in Polish regions and later the initial smart specialisations (RSS). The identified initial RSS for Polish voivodeships can be a starting point for building regional smart specialisations based on values supply chain or other premises. Due to the universal nature of the proposed methodology, it can be widely used at the level of subregions, regions and the EU countries
Cooperation of slow cities as an opportunity for the development: an example of Polish National Cittaslow Network
No full textResearch background: Many demographic, social, spatial, economic and infrastructural problems have accumulated in small cities in Poland. It seems that the situation of the smallest cities located farther away from large cities and metropolises is particularly difficult. A chance for their development may arise from cooperation within a network of cities which associates cities similar in size, paradigm and vision of development, such as the ?Cittaslow ? International network of cities where living is good?.
Purpose of the article: The aim of the article is to identify main cooperation areas for slow cities in Poland. An analysis was made of the cooperation between 28 cities that are members of the Polish National Cittaslow Network.
Methods: The research applied a critical review of the literature and a diagnostic survey method. The survey was carried out with a standardised questionnaire. It was addressed to mayors of all member cities of the Polish National Cittaslow Network. The study was made in 2018.
Findings & Value added: The cooperation of cities belonging to the Cittaslow network in Poland is becoming more and more complex and concerns mainly the development of tourism and urban promotion. The shared logo and promotion of the urban network, organization of cultural events, exchange of experience, implementation of a supralocal revitalization program for several ?slow cities? from Warmia and Mazury, are examples of active cooperation. This proves that the competition between cities can be transformed into effective coopetition of cities. The idea of ?slow?, which is fundamental to the development of the Cittaslow networked cities, creates an opportunity to design an individual development model for small cities that could apply to cities in Poland and elsewhere in the world