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Non-linearity and the Purchasing Power Parity Hypothesis for Exchange Rate JPY/USD

100%
Bruzda J., Koźliński T., Nicolaus Copernicus University in Toruń
Acta Universitatis Lodziensis. Folia Oeconomica
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2005
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vol. 192
EN
In the paper we verify the purchasing power parity (PPP) hypothesis for the exchange rate JPY/USD for different time periods and price indexes. We build several forecasting models for this exchange rate including some non-linear specifications, for example the univariate BL-GARCH model and fundamental VEC models based on a long run equilibrium relationship. We have found that under some specific conditions the PPP hypothesis does hold. An adjustment process towards a long run equilibrium turned out to be of a non-linear nature. However, the impact of this adjustment on short-run dynamics of the exchange rate has a linear error correction form.
PL
W artykule przedstawiamy wyniki weryfikacji hipotezy parytetu sity nabywczej pieniądza dla kursu walutowego JPY/USD dla różnych okresów i różnych indeksów cenowych. Prezentujemy kilka modeli prognostycznych dla tego kursu, włączając pewne specyfikacje nieliniowe, jak np. jednowymiarowy model BL-GARCH oraz fundamentalne modele VEC, oparte na zależności w długookresowym położeniu równowagi. Wyniki empiryczne wskazują, że przy pewnych specyficznych warunkach hipoteza PPP zachodzi. Proces dostosowania do długookresowego położenia równowagi okazuje się mieć postać nieliniową. Jednakże wpływ tego dostosowania na krótkookresową dynamikę kursu walutowego JPY/USD ma formę liniowej korekty błędem.
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Ponadnarodowe korporacje jako podmioty nieformalnego wpływu na przykładzie zaangażowania w działania skierowane do osób LGBT w Polsce

51%
Bielska B., Tamborska K., Nicolaus Copernicus University in Toruń, ysabell@doktorant.umk.pl, kasialis@doktorant.umk.pl
Annales. Etyka w Życiu Gospodarczym
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2015
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vol. 18
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issue 1
EN
The paper explores the assertion about multi-faceted tools of impact used by large corporations that they aim to limit the subjectivity of consumers. It is based on the concept of ‘deep capture’ developed by Jon Hanson and David Yosifon. According to this concept consumers have only the idea of their own subjectivity. The authors’ basic assumption is that human behaviour is largely (but not completely) dependent on external situational factors rather than the individual dispositions of individuals. In this context we analyse the role of large corporations in shaping the image of LGBT people in Poland. Noteworthy seems to be the consideration to build and strengthen the belief that LGBT people are a group which suffers discrimination, to which anyone should make gestures of support throughout consumer decisions. An overview of the activities of business entities for LGBT groups in Poland lets us say that they cannot be called large scale actions. The actions of Polish companies can be recognised as not very intensive. Western transnational corporations have huge experience in actions for LGBT people, but this is not necessarily the case in Poland.
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