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EN
Labour markets in the Eurozone have not yet recovered from the global crisis that hit the world economy in late 2008. Across the Eurozone, the reduction of long-lasting unemployment is a priority for citizens and policymakers alike. The persistence of a large number of long-term unemployed persons over long periods of time generates huge social as well as economic costs in the Eurozone. We discuss about long-term unemployment in Euro countries over the period from 1995 to 2012. One of the characteristics of the recent recession (2008-2012) was the unprecedented rise in long-term unemployment in PIIGS countries in the Eurozone. The trend in long-term unemployment varied between "core" countries and PIIGS countries.
EN
The goal of the article is to show the degree of differentiation between the countries of Central and Eastern Europe in fulfilling Maastricht nominal criteria. These countries are going to great lengths to prepare themselves to adopt the common currency, though the fundamental indicators within the nominal convergence framework stand, for each country, at various levels. The analysis was conducted in the years 1995–2007 and shows the degree to which standardisation of the range of basic convergence criteria has been accomplished in these countries. The paper answers the question of whether transformational processes have helped these countries come together in terms of nominal convergence and whether joining the EU has accelerated the nominal convergence process in the countries of Central and Eastern Europe. The research carried out shows that, particularly after entering the EU, the countries generally made great strides towards the nominal adjustment of their economies to Maastricht Treaty requirements. However, the recent downturn in the world financial markets coupled with the growing economic crisis has worsened their economic situation, and consequently the degree to which the Treaty’s requirements have been fulfilled. Moreover, for some countries these criteria should be seen as having been conditionally fulfilled, or as simply not demonstrating visible durability.
EN
The authors employ statistical analysis to determine if Poland’s regional and local job markets are subject to convergence or divergence in macroeconomic terms. The article analyzes selected labor market variables such as productivity at the regional level, real wages and the unemployment rate. The analyses are based on data from the website www.stat.gov.pl for the 2002-2009 period and for the 2002-2007 period in the case of labor productivity. The authors examine the main theoretical aspects of the processes of real convergence and divergence. They present statistical analyses of unconditional s - and b-convergence at the regional and local levels using panel data. The article ends with a summary and a set of conclusions. The research carried out by the authors reveals that none of the analyzed labor market variables, at either the local or regional levels, was subject to s-convergence throughout the analyzed period, but in specific sub-periods both convergence and divergence processes were observed. The convergence equations estimated by the authors show that only the unemployment rate was subject to b-convergence in both regional and local terms. In the analysis at the regional level, a divergence of real wages was observed in 15 provinces, with Mazovia province being the only exception nationwide. In turn, the research did not confirm that there is a divergence of wages at the county level, the authors note. In the analyzed period, labor productivity at the regional level was not subject to either b-convergence or divergence.
EN
The paper offers a statistical analysis of the determinants of wage differences in Poland in 2002-2006. These analyses are made with the use of a theoretical model that combines the Solow-Summers efficiency wage model (a neo-Keynesian economic model) and neoclassical growth models. This combined model shows that wage differences are determined by macroeconomic variables such as labor productivity and the unemployment rate. The authors use statistical data collected by the Central Statistical Office (GUS) on wages, labor productivity and unemployment in individual counties in Poland in 2002-2006. The analysis shows that the highest wages are reported in large urban centers and “counties that are centers of local economic development,” the authors say. On the other hand, the lowest wages are in typically agricultural counties and those that were home to many former state-run farms. In counties with a high rate of unemployment, relative wages in 2002-2006 were usually lower than in counties with low unemployment rates, while a high level of relative labor productivity was usually accompanied by a high level of relative wages. Regression equation estimates for each of the country’s 16 provinces show that relative wages had a different impact on unemployment rates and relative labor productivity in individual provinces.
EN
Market transition in Central and Eastern Europe triggered many new socioeconomic developments. One of them was the appearance of open unemployment vastly different from that noted in most developed economies around the world. As a result, the term “transformation unemployment” began to be used in literature on the subject. The authors of the article analyze the trend from a theoretical point of view and then follow up with an empirical study of unemployment. They present changes in the labor force and GDP in several groups of countries: Central Europe (Czech Republic, Poland, Slovakia and Hungary) plus Slovenia; Lithuania, Latvia and Estonia; Russia, Ukraine, Belarus and Moldova; Georgia, Armenia and Azerbaijan; and Balkan countries (former Yugoslav states except Slovenia as well as Albania, Bulgaria and Romania). The authors offer a statistical analysis of GDP growth and unemployment in individual groups of countries. In the final part of the article, the most important conclusions are summed up. These include the fact that the analyzed groups of countries display major differences in unemployment rates, along with changes in employment figures and labor productivity. Moreover, in most these countries, GDP growth has had a limited effect on unemployment. The only exception is Central Europe, though the European members of the Commonwealth of Independent States and transition economies in the Balkans also stand out positively.
EN
The theoretical part of the paper presents the evolution of the views on Phillips curve. The model of 1958 has been described and its further developments proposed by a number of economists, including P. Samuelson, R. Solow, M. Friedman, E. Phelps, R. Lucas, E. Kydland, and E. Prescott, have been discussed, followed by a general review of the international literature pertaining to the empirical examination of the Phillips curve. The goal of the empirical part is to examine the existence of Phillips curve in Polish economy in 1990-2010. The direction and ties between the inflation rate and employment rate has been analysed based on monthly, quarterly, semi-annual and annual data. The minimal square model and the error correction model were used in the analysis. It has been found that not even the effect of Phillips curve occurred in Poland during the world financial crisis. Only between the first quarter of 1992 and the third quarter of 1994 and between the first quarter of 1999 and the first quarter of 2005, and several sub-periods, the model could have been built by error.
PL
W części teoretycznej artykułu przedstawiono ewolucję poglądów na temat krzywej Phillipsa. Przybliżono model A. W. Phillipsa z 1958 r., a także liczne rozwinięcia tego modelu autorstwa takich ekonomistów, jak: P. Samuelson, R. Solow, M. Friedman, E. Phelps, R. Lucas, E. Kydland i E. Prescott. Wprowadzenie teoretyczne dopełnia przegląd dotychczasowego dorobku literatury światowej z zakresu weryfikacji empirycznej krzywej Phillipsa. Celem części empirycznej niniejszej pracy jest zbadanie istnienia krzywej Phillipsa w gospodarce polskiej w latach 1990-2010. Sprawdzono kierunek i siłę związku stóp inflacji i bezrobocia na podstawie danych miesięcznych, kwartalnych, półrocznych i rocznych. W badaniach wykorzystano metodę najmniejszych kwadratów (MNK) oraz model korekty błędem (ECM). Stwierdzono, że w okresie światowego kryzysu finansowego nie wystąpił nawet efekt samej krzywej Phillipsa. Jedynie w okresach I kwartał 1992 r. – III kwartał 1994 r. i I kwartał 1999 r. – I kwartał 2005 r. oraz w kilku ich podokresach możliwe było zbudowanie modelu korekty błędem.
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