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EN
The objective of the EU regional policy is to increase the economic and social cohesion in all its regions by providing assistance to less developed regions and sectors of the economies of the member states. All activities undertaken in the framework of EU regional policy are designed to promote sustainable economic development. The economic crisis of recent years in the euro zone forced the development of new prudential standards in the conduct of fi scal policy. This paper presents the relationship between macroeconomic heightening introduced in the euro area (including pressure on compliance with the provisions of the budgetary framework binding all the member states), the effects posed by non-compliance with the new rules and the possibility of implementing regional policy in Poland.
EN
The main goal of the article is to analyse some critical macro and microeconomic indicators between 1995 and 2012 in EU member states, but in particular, in the Euro Area. By using quantitative and comparative analysis, the paper found that there is a trend of both internal and external imbalances within the single currency area. Both regression and correlation analysis indicated statistically significant relations between the key macro and microeconomic indicators, such as the current account, market share, net international investment position, fiscal deficit and public debt, including imbalances in the TARGET2 system. Based on this, the paper came to the conclusion that put the economies on a sustainable, solid and balanced economic growth path in the euro-zone countries, comprehensive structural reform agenda is needed, adopting and implementing the medium-term fiscal consolidation plans a the creation of banking union would be critical.
EN
The article is a comment in a discussion on conditions concerning design and usage of macroeconomic models. Building of macromodels is determined by three elements: theory of economics, within the scope of which they are built, accessible modelling techniques, and sets of reliable numerical data. The use of macromodels results from the guidelines of economic policy, and their structure is determined by concrete current and future challenges connected with creating of strategic visions of economic development. In the article, the authors also highlight the dynamic of globalization processes which, together with the effects of the global crisis of the period 2007-2009, provide new perspectives for creators of macroeconomic models. In addition, the article provides numerous examples of model constructions and recommendations concerning utilization of model techniques in the process of making macroeconomic decisions.
EN
Microfinance institutions finance their business activities primary with clients’ deposits, equity and subsidiary or with external funding. The aim of our thesis is to determine whether the external funding, macroeconomic development and the size of banking sector have some impact on a microfinance performance. Our findings reveal that the growth of external sources is positively associated with the number of female borrowers, interest rates or total expenditure. A significant negative effect can appear if the ratio of external funding to total assets is being uncontrollably increased over time.
EN
The article contributes to the existing empirical evidence on the impact of the macroeconomic environment on retail prices dynamics by using panel estimates to explain inflation in Slovenia after the introduction of the euro. The authors evaluated the impact of diesel fuel prices, food prices on the world market, GDP, the bank loans to the private sector, import prices, the earnings of major merchants and the production prices for retail prices of alimentary products. The earnings of major merchants, import prices and GDP growth contributed significantly to the incline of the retail prices in the first observed period. While, the results of the empirical analysis state that the cause of increased incline of the retail prices of alimentary products after May 2007 can be attributed, mostly to the earnings of major merchants, volume of credit, world food prices, the price of diesel fuel and import prices. The impact of producers' prices was insignificant in both observed periods.
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