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Ekonomista
|
2021
|
issue 6
799-825
PL
Celem artykułu jest analiza, ocena i porównanie wybranych projektów reform strefy euro. Koncepcje przebudowy unii walutowej zostały tu podzielone na dwie grupy. Grupa pierwsza, reprezentowana przez "klasyków", obejmuje metody integracji zaproponowane przez teorię optymalnego obszaru walutowego. Oznacza to szerokie wykorzystanie mechanizmów rynku w zarządzaniu strefą euro, co wiąże się ze zwiększeniem elastyczności całej gospodarki lub jej sektorów. Podejście drugie, prezentowane przez "instytucjonalistów", zakłada ograniczenie elastyczności gospodarek i pełną synchronizację przebiegu cykli koniunkturalnych. Rzecznicy tej koncepcji widzą potrzebę zwiększenia roli instytucji i regulacji wspólnotowych w zarządzaniu gospodarką strefy euro. Realizacja koncepcji "klasyków" oznaczałaby radykalną zmianę dotychczasowych metod integracji, ponieważ proponują oni decentralizację polityki budżetowej i zarządzanie strefą euro przez mechanizmy rynku finansowego. Natomiast wdrożenie koncepcji "instytucjonalistów" jest tożsame z głęboką ingerencją władz wspólnotowych (ponadnarodowych) w zarządzaniu gospodarką - przy czym nie ma przekonujących dowodów, że synchronizacja cykli koniunkturalnych i budowanie silnej infrastruktury instytucjonalnej przyczyni się do zwiększenia efektywności procesów gospodarczych w krajach UGiW.
EN
The study is aimed to examine, assess, and compare selected reform projects of the Eurozone. The ideas for the restructuring of the Monetary Union have been divided into two groups. The first group, represented by the so called 'classics', includes integration methods proposed by the optimum currency area theory. It means a wide use of market mechanisms in the management of the Eurozone, which is connected with the expansion of the flexibility of the economy or its sectors. The second approach, presented by the so called 'institutionalists', assumes the restriction of the flexibility of economies and full synchronisation of business cycle phases. Supporters of this concept see the need to increase the role of institutions and Community regulations in the common governance of the Eurozone economy. The implementation of the concept proposed by the 'classics' means a radical change in the existing integration method because they propose decentralisation of budget policies and managing the Eurozone through financial market mechanisms. On the other hand, the concept proposed by the 'institutionalists' is identical with a deep interference of the Community (supranational) level in economic management whereas there is no convincing evidence that the synchronisation of business cycles and building of a strong institutional infrastructure will increase the efficiency of economic processes in the EMU countries.
EN
The paper aims to statistically verify the assumptions of the Dornbusch model in Poland’s economy in the years from 2007 to 2009. The study determines the role of the exchange rate in achieving equilibrium in the financial market in Poland and the effectiveness of the exchange rate adjustment mechanism: the rate – price in achieving the equilibrium of trade balance. The conclusions allow us to formulate recommendations as regards the role of the exchange rate in economic policy, which has a significant meaning in the process of Poland’s accession to the euro zone.
EN
The main aim of the paper is to investigate the process of creation of international currency – euro in European Monetary Union. In the paper the Author analyses four stages of the building of monetary union as well as the role of dollar and European Currency Unit (or other european currencies) as international currency.
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System kursów walutowych w EWG

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EN
The article of J. Bilski The System of Currency Exchange Rates in the EEC is composed of three parts. In the first part the author discusses in detail the Common Market system of currency exchange rates in force since 1971. Next, the author analyzes the so-called „Currency Snake”. This construction of currency exchange rate s is an element of the monetary and economic union being created since 1971. The author presents Both merits and drawbacks of this solution and he discusses external factors conditioning the effective functioning of the „snake”. In the third part J. Bilski presents the main assumptions of the new monetary system functioning within the EEC since 1979 as well as the discussion of economits concerning advantages and disadvantages of solutions in the field of currency exchange rates employed in this system.
EN
The aim of the paper is to present the role of the interest rate in the main economic theories. In the paper Author analyses the basic determinants affecting the level of interest rates. The research allows to answer the question whether according to the economic theory the common interest rate policy is apprioprate for all the countries of the euro zone.
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EN
The main aim of the above analysis is the evolution of monetary relations between the USA and Europe. The author characterizes the period of the absolute dollar’s domination in international finance. Then he presents the perspectives of a bipolar monetary system as the consequence of the development of monetary integration within the EЕС.
EN
The intention of this article are being presented the fundamental proposals on the theory of optimum currency area formulated by Robert Mundell and the growing interest of the ideas in the coming years as well. In this article the attention was directed to the fact that the research being made in the last years are concentrated on the adjustment mechanism and the absorption of the external asymmetric shocks. There is the theoretical attempt for the verification of the practical effects in monetary integration in EU.
EN
The aim of this presentation is the analysis how Poland opens the financial market and the assessment of chances and threats resulting from this process. The opening of the Polish financial market has been determined by two types of premises that are: 1. Regulations and commitments included in the Europe Agreement and negotiate attitude regarding the liberalization of international capital turnover. 2. Commitments resulting from the participation in international organizations - IMF, OECD, GATS. The analysis of the influence of the above mentioned commitments and discussion about the problem how to choose the optimal liberalization sequence of the financial sector is presented in the paper.
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EN
The purpose of this paper is to emphasize the role of accession polish zloty to ERM II. The paper provides the analysis of costs and benefits of participation zloty in exchange - rate mechanism. The Author investigate euro central rate and compulsory intervention for zloty period 2005-2007.
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PL
Celem artykułu jest próba zdefiniowania uwarunkowań wybuchu kryzysu w strefie euro, ze szczególnym uwzględnieniem Grecji, której obecna sytuacja gospodarcza stawia pod znakiem zapytania perspektywy przystąpienia do strefy euro krajów takich jak Polska. Nasze badania wskazują, że przyczyny kryzysu w Grecji można rozpatrywać dwutorowo – jako pochodną uwarunkowań zewnętrznych i wewnętrznych. Pod pojęciem uwarunkowań zewnętrznych rozumiemy mechanizmy działania strefy euro, zaś pod pojęciem uwarunkowań wewnętrznych – sposób funkcjonowania greckiej gospodarki. Analiza tych dwóch grup przyczyn wskazuje, że grupą dominującą jest zdecydowanie mechanizm działania strefy euro. Uważamy, że strefa euro w obecnym kształcie nie może sprawnie funkcjonować. W związku z powyższym albo integracja w ramach strefy zostanie pogłębiona, albo należy ponownie rozważyć przyjęte koncepcje działania strefy euro i zaproponować rozwiązania dające państwom członkowskim strefy więcej narzędzi polityki gospodarczej, dzięki którym mogłyby przeciwdziałać niekorzystnym zjawiskom w gospodarce krajowej.
EN
This article attempts to define the causes of the outbreak of the crisis in the euro zone, with particular emphasis on Greece. The current economic situation of this country calls into question the prospects for accession of the Eurozone countries, for example Poland. Our research shows that the causes of the crisis in Greece can be considered in two ways – as a derivative of external and internal conditions. The term external conditions we understand as the mechanisms of the Eurozone’ functioning and the term of internal conditions – functioning of the Greek economy. Analysis of these two groups indicates that the mechanism of the Eurozone’ functioning is definitely the dominant group. In our opinion the Eurozone cannot function efficiently in its current form. In view of the above, either the integration within the zone will be deepened, or concepts concerning the mechanism of the Eurozone should be reconsidered and proposed solutions which gave the Member States more economic tools, so that they could counteract the negative phenomena in the national economy.
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