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EN
Research background: Poland and Spain share many common features resulting both from similarities of historical experience, and also cultural, political, socio-demographic factors. Both countries have a similar area, population and GDP structure. They also share historical experience related to political and economic transformation after a long period of non-democratic, centralized governments. Therefore, the experience of Spanish membership in the EU is often considered as a model for Poland. Purpose of the article: The purpose of this research is to perform a comparative empirical analysis of income convergence processes in Poland and Spain on a regional level. We aim to verify if and how these processes are related to one another (show similar paths). Special attention is paid to the periods after accession of these countries to the EU. Convergence patterns in both countries are compared with several tools. Methods: Spatial econometric model for absolute beta convergence, sigma convergence indicators and the analysis of distribution dynamics - transition matrices and kernel density estimation. Findings & Value added: The impact on EU accession on income convergence in Spain was positive both at the national and regional level. Regional convergence processes sped-up and interregional disparities decreased. The poorest subregions had relatively high probability to increase their income and catch-up with initially more developed regions. In the first decade after accession to the EU Poland has also achieved a significant improvement of income indicators at the national level. However, empirical analyses of GDP per capita distribution and its dynamics at the regional level in Poland show that the above mentioned progress does not spread out proportionally on all regions. Neither beta nor sigma convergence is observed. Instead, relatively fastest growth of initially richest regions (mostly large cities) introduces convergence of clubs leading to polarization. EU accession has accelerated divergence processes in Poland.
EN
The purpose of the study is to analyze the dynamics of regional disparities on NUTS 2 level in Poland for the period 1990–2017 within the framework of sigma convergence. We focus in particular on comparing the patterns of regional convergence before and after EU accession, introducing the methodology of parallel sigma convergence. The results show that the Mazowieckie voivodeship grew much above the average in both the pre-and post-accession periods, while eastern regions lagged behind. EU accession did not have a significant impact on the pattern of internal sigma convergence in Poland. Disparities between regions were increasing at the same pace before and after 2004, despite significant resources having been allocated to cohesion-focused undertakings after EU accession, especially in lagging eastern regions.
EN
The conditional convergence hypothesis is a major implication resulting from neoclassical growth models. The fact that poorer regions develop faster than richer ones does not have to mean that the variation in their incomes diminishes over time Classical methods of convergence analysis are unable to grasp the income polarisation effect, i.e. "club convergence", either. For this reason, an analysis of full distribution of income and its dynamics may be of interest. This method has been applied to analysis of convergence of regional GDP per capita in Poland in the years 1990-2001. During the analysed period, regional convergence was not the case in Poland, as the GDP per capita was very stable. Nevertheless, one can talk about income polarisation in that period. Relative differences between poor and rich regions were growing. However, the situation in the first half of the 1990s was distinctively different from that in the second half of the decade. In 1990-1995, disproportions diminished sharply. With an overall decline in GDP, richer voivodships were subject to a relatively stronger impoverishment. Nevertheless, one can talk about club convergence rather than absolute convergence during that period. Only during the mentioned sub-period, the poorest regions had the chance to exceed the level of 80% of relative GDP per capita. During that period voivodships faced a much better chance for relative enrichment than impoverishment. Consequently, the club of richer regions was much more numerous than the group of relatively poorer regions. In 1995-2001, the trend was reversed, as the regions were becoming relatively poorer, and income disproportions increased again. The probability for the poorest regions to increase their income above 80% of the average was marginal in that period. The Mazowieckie voivodship, being the richest one, had a clearly distinctive position and was developing much faster than the remaining regions. The tendency towards diminishing the differences in the group of the poorest voivodships, apparent in each of the analysed periods, may be an indication that those regions were becoming relatively poorer and richer alternately as compared to one another, but none of them grew rich enough to break away from the group of the poorest ones.
PL
W rodzinie realizuje się proces socjalizacji dzieci, przekazywania wartości, transmisji pokoleniowej, poznawania przez nie ról społecznych, umiejętności życia w społeczeństwie – nabywania kompetencji kulturowych, poznania fundamentów kapitału kulturowego, który tworzą idee, wiedza, umiejętności i przedmioty o wartościach kulturowych. Nie zawsze jednak rodzina funkcjonuje w taki sposób, który pozwala na kształtowanie człowieka otwartego, myślącego, umiejącego żyć w społeczeństwie, a więc wyposażać dzieci w odpowiedni kapitał kulturowy, w kompetencje kulturowe. Niektóre rodziny podlegają dysfunkcjom na różnych poziomach. Oprócz najłatwiejszych do wyliczenia dysfunkcji, takich jak: uzależnienia czy bieda, koniecznie trzeba wskazać na kurczący się budżet czasu w rodzinach pochłaniany przez pracę zarobkową, nieobecność jednego z rodziców lub zamieszkiwanie z konkubentem rodzica. W ostatnich latach wspólnota czasu rodzinnego została jeszcze zmniejszona przez migrację zarobkową rodziców, szczególnie mocny wpływ na ocenę relacji rodzinnych ma nieobecność matki. Socjologia – jako nauka o społeczeństwie i zachodzących w nim procesach – pomaga zdiagnozować zachodzące zmiany, transformację wartości i wskazać, np. duszpasterstwu potencjalne możliwości współuczestnictwa w formowaniu, szczególnie przez młodych ludzi, systemów wartości opartych na moralnych wskazaniach kościelnego nauczania.
EN
The family realises a process of children's socialization, transmission of values, generational transmission, learning about their social roles, skills, life in the society - the acquisition of cultural competence, learning the foundations of cultural capital, which consists of ideas, knowledge, skills and items of cultural values that people acquire during their participation in social life. Yet, not always does the family function in a way that allows the formation of a man who is open, thinking, able to live in the society, so as to equip that man in the appropriate cultural capital, in cultural competence. Some families are subject to dysfunctions at various levels. Apart from the easiest to enumerating dysfunctions such as: addictions or poverty, it is crucial to point to the shrinking time budget in families that are absorbed by gainful employment, the absence of one of the parents or living with a cohabitee of a parent. In the recent years, the community of the family time has been even more decreased by the labour migration of parents, and the absence of the mother has a particularly strong impact on the assessment of the family relationships. Sociology, examining the value system, helps to diagnose the changes - the transformation of values - and it aids to indicate, for instance, to the priesthood, the potential opportunities of participating in the formation, particularly by young people, of the systems of values based on the moral indications of the Church teaching.
DE
In der Familie findet der Prozess der Sozialisierung der Kinder, der Wertevermittlung und der Generationenübertragung statt. Dadurch werden gesellschaftliche Rollen und die Fähigkeit zum Leben in der Gesellschaft erlernt – kulturelle Kompetenzen werden erworben, Fundamente des kulturellen Kapitals kennengelernt, welches auf Ideen, Wissen, Fähigkeiten und Gegenständen kulturellen Wertes basiert. All das erwerben die Menschen im Laufe ihrer Teilnahme am Leben in der Gesellschaft. Die Familie funktioniert jedoch nicht immer auf eine Art und Weise, die die Entwicklung zu einem offenen und denkenden Menschen ermöglicht, der für das Leben in der Gesellschaft vorbereitet ist, d.h. sie sichert ihm nicht immer das entsprechende Kulturkapital, die kulturellen Kompetenzen. Manche Familien unterliegen Dysfunktionen auf verschiedenen Ebenen. Neben den geläufigsten Dysfunktionen wie z.B. Abhängigkeiten oder Armut muss unbedingt auf das schrumpfende Zeitbudget in den Familien hingewiesen werden, das durch die Erwerbstätigkeit bedingt ist, als auch auf die Abwesenheit eines Elternteils oder das Leben mit dem Lebensgefährten der Mutter oder des Vaters. In den letzten Jahren ist die gemeinsame Familienzeit durch die Arbeitsmigration der Eltern kürzer geworden, insbesondere wird die Beurteilung der Familienverhältnisse durch die Abwesenheit der Mutter geprägt. Die Soziologie untersucht das Wertesystem und hilft die Veränderungen – die Veränderung der Werte - zu diagnostizieren – und darauf hinzuweisen, z.B. im Fall der Seelsorger, wo die potenziellen Möglichkeiten der aktiven Beteiligung am Gestalten der an Moralempfehlungen der kirchlichen Lehre orientierten Wertesysteme v.a. für junge Menschen liegen.
EN
Despite extreme popularity of the case study method, it is also criticized, mainly for the lack of solid methodological basis for the generalization purpose. According to the author, such a stance may result from inaccuracy in distinguishing research aims as well as from the lack of knowledge. In fact, case study method constitutes a very valuable mean of finding solutions not only for scientific but also for practical problems. This paper’s purpose is to systematize the knowledge in the area of the case study method, identify its place in the methodology of science, explain inaccuracy of its understanding and assess its usefulness in research.
EN
Smart agriculture in animal production has been implemented when livestock breeders were seeking possibilities for maximize the production efficiency and increasing the stocking density of their herds, and on the other hand, from the need to maintaining animal welfare, saving time and labor. As a consequence, there was a need for frequent and more detailed information to breeders about the health, activity, well-being and performance of their animals, as well as for precise quality assessment, and the need to monitoring the productivity of agricultural crops.
PL
Inteligentne rolnictwo w produkcji zwierzęcej zrodziło się z chwilą, gdy hodowcy zwierząt gospodarskich z jednej strony dążyli do maksymalizacji wydajności produkcji i zwiększenia pogłowia zwierząt w stadach, z drugiej zaś z potrzeby zachowania zasad dobrostanu zwierząt, oszczędności czasu i nakładów pracy. W konsekwencji zaistniała potrzeba częstego i bardziej szczegółowego informowania hodowców o zdrowiu, aktywności, dobrostanie i wydajności ich zwierząt, jak i z konieczności monitorowania i oceny jakości i produkcyjności upraw rolniczych.
EN
The article discusses the convergence of unemployment rates at the county level in Poland in 1999-2006, on the basis of available statistical data. The authors examine both β- and δ-convergence; the former involves the relationship between the growth of the unemployment rate and its initial level, and the latter is based on an analysis of the dispersion of the rates and their changes over time. The authors use methods that enable them to examine changes in the distribution of the analyzed variables. These methods include transition matrices and a nonparametric kernel estimation method. Transition matrices make it possible to determine the likelihood of a county’s unemployment rate increasing, decreasing or remaining constant, while classifying the rates into several brackets. Kernel estimation, in turn, makes it possible to analyze the full conditional function of the density of the distribution of the unemployment rate at the county level and its changes over time. These methods were borrowed from research into regional convergence for income. They make it possible to detect the occurrence of polarization, or the so-called club convergence. The analysis of unemployment rates at the county level in 1999-2006 reveals a far-reaching stability of the regional distribution of unemployment rates-in terms of both monthly and yearly changes. Over the past seven years, no δ-convergence has occurred. The researchers have only detected slightly growing similarities between labor markets in counties with the highest relative unemployment rates. The analysis of β-convergence reveals a far-reaching divergence of unemployment levels in individual counties in Poland. This trend is less pronounced in counties with the lowest relative unemployment rates, while being markedly stronger on labor markets heavily affected by joblessness. Overall, the study places a question mark over the effectiveness of cohesion policies carried out in Poland through various channels since 1999.
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EN
The paper presents an overview of the literature on volatility measurment, modeling and forecasting, from the perspective of option pricing. The following conclusion are drawn. First, efficiency volatility estimation utilizes intraday data and measurmes such as realized volatility (i.e. sum of squared returns calculated over short, e. g 5-minute, time intervals) or realized range. Second, volatility lends itself- at least to some extent- to forecasting, where by the most efficient forecasts are those extracted from option prices quoted on the marked, which squares with the basic theory of forecasting as market expectations are based on broader set of information than backward-looking time series forecasts. Third, althought Black-Scholes opinion pricing theory was derived under the assumption of constant volatility, the approach can be fairly easily generalised to cover cases of time demendent, time and asset price dependent, and even stochastic volatility. Each of those models allows to capture some key element of the empirically observed pattern of market returns and each allows constructing a hedged option position that leads to a differential equation determining the option price (under specified boundry conditions), although not always in closed form.
PL
Niniejsze opracowanie podejmuje próbę wykorzystania informacji zawartych w strukturze terminowej zmienności do prognozowania przyszłych wartości indeksu VIX. W badaniu wykorzystano dzienne notowania indeksu VIX oraz kontraktów terminowych na ten indeks. Wyniki wskazują z jednej strony na istotną statystycznie ujemną zależność między opóźnieniem nachylenia struktury zmienności a bieżącą wartością indeksu VIX. Z drugiej zaś strony wykorzystanie struktury terminowej kontraktów terminowych na indeks VIX nie przekłada się na istotnie niższe błędy prognoz przyszłych wartości indeksu VIX.
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Wycena opcji na VIX – podejscie heurystyczne

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PL
W artykule przedstawiamy prostą parametryzację powierzchni zmienności w opcjach, których instrumentem bazowym jest zmienność implikowana z opcji na S&P 500 wyrażona indeksem VIX. W szczególności pokazujemy, że: (i) zmienność implikowana opcji ATM na VIX jest silnie skorelowana z uśmiechem zmienności opcji na S&P 500; (ii) zmienność implikowana ATM opcji na VIX zmniejsza się wykładniczo wraz z terminem wygaśnięcia opcji; (iii) uśmiech zmienności opcji na VIX daje się dobrze opisać za pomocą popularnego modelu zmienności stochastycznej SABR. Wykorzystując proste reguły kciuka opisane w pkt. (i)-(iii) można podać cenę (zmienność implikowaną) opcji na VIX o dowolnym terminie i cenie wykonania, otrzymując wartość zbliżoną do rynkowej.
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