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REMARKS ON RELATIVE AND ABSOLUTE CHRONOLOGY OF EARLY AND MIDDLE ENEOLITHIC IN THE AREA OF SOUTH-EAST POLAND AND WEST UKRAINE (Uwagi o chronologii wzglednej i absolutnej wczesnego i srodkowego eneolitu na obszarze Polski i ... zachodniej Ukrainy)

100%
Chmielewski T.
Przegląd Archeologiczny
|
2008
|
vol. 56
EN
In this paper questions of relative and absolute chronology of the Early and Middle Eneolithic of the present territory of South-East Poland and West Ukraine are reconsidered. The author aims to trigger discussion on the chronological position of late Malice culture and succeeding Lublin-Volhynia culture.
2

ELECTORAL PARTICIPATION AND ATTITUDES TOWARD THE POLITICAL SYSTEM (Uczestnictwo wyborcze a postawy wobec systemu politycznego)

100%
Chmielewski T.
Studia Polityczne (Political Studies)
|
2008
|
issue 21
7-42
EN
The article concerns the relation between electoral participation and attitudes toward the political system. The main thesis postulates that the relationship between these variables is not a simple one. The text refers to the debate on the factors which influence the extent of electoral participation and in particular, electoral turnout in Poland. Attitudes were defined following M. Fishbein and I. Ajzen's approach, the model of the political system was taken from D. Easton, while the concept of participation was borrowed from S. Verba and N. Nie. The research hypotheses were verified on the basis of empirical material collected by means of 500 direct interviews carried out with the inhabitants of the city of Wroclaw. Analysis of the material makes it possible to reject a hypothesis that electoral participation is unrelated to the attitudes held by the inhabitants of the City of Wroclaw toward the political community and the political regime. A relation between electoral participation and attitudes toward those in power turned out to be problematic. As a result, the author suggests that four categories of citizens may be identified when the appraisal of the political system and their electoral passivity or participation are crossreferenced.
3
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Wykorzystywanie instrumentów nadzorczych w polityce makrostabilnościowej

63%
Chmielewski T., Sławiński A.
Zarządzanie Publiczne / Public Governance
|
2010
|
issue 3(13)
49-66
PL
W artykule podkreśla się, że za ostatnimi cyklami ożywienia i spowolnienia gospodarczego w wielu krajach stoi wcześniejsze wejście banków komercyjnych na rynki kredytów hipotecznych, z których wyparły one banki hipoteczne i kasy budowlane. Doprowadziło to do powstania systemowego ryzyka będącego wynikiem sytuacji, w której długoterminowe kredyty hipoteczne finansowano stosunkowo krótkoterminowymi depozytami bankowymi. Ryzyko to nasiliło gwałtownie narastające wykorzystanie przez banki krótkoterminowego finansowania o charakterze hurtowym na globalnym międzybankowym rynku pieniężnym. Działania te wywołały w wielu krajach długotrwałe ożywienie koniunktury na rynkach kredytów hipotecznych. Tym procyklicznym zachowaniom banków nie przeciwdziałały organy nadzorcze, wychodząc z doktrynalnego założenia, że spełnienie wymogów kapitałowych przez banki (tzw. Bazylea II) wystarczy do pokrycia potencjalnych strat instytucji finansowych. Globalny kryzys bankowy dowiódł, że przekonanie to było nieuzasadnione. Doświadczenia płynące z niedawnego kryzysu przemawiają za stwierdzeniem, że organy nadzorujące powinny wykorzystywać dostępne narzędzia do przeciwdziałania procykliczności na rynku kredytów bankowych. W artykule podkreśla się, że banki centralne ze względu na swą niezależność powinny odgrywać dominującą rolę w podejmowaniu decyzji o stosowaniu odpowiednich narzędzi do zapobiegania nadmiernemu ożywieniu na tym rynku, gdyż może to prowadzić do kolejnych niestabilnych okresów boomu kredytowego.
EN
The paper underlines that behind the recent boom-bust cycles that occurred in a relatively large number of countries there was the prior massive entry of commercial banks on mortgage markets where they crowded out mortgage banks and building societies. This produced systemic risk resulting from the situation in which long-term mortgage loans begun to be funded with relatively short-term bank deposits. The risk was compounded by the rapidly growing use of short-term wholesale funding taken by banks from the global interbank money market. All this produced long-term booms on the mortgage markets in many countries. The pro-cyclical bank behavior was not contained by supervisors, due to the doctrinal belief that bank capital requirements (Basel II) were sufficient to cover bank potential losses. The global banking crisis proved that this belief was unfounded. The experiences of the crisis illustrated that supervision tools should be used to contain the pro-cyclicality of bank credit. The paper underlines that central banks, due to their independence, should play a dominating role in deciding about using supervisory tools for preventing excessive rate of growth in credit that ould lead to unstable lending booms.
4
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Lessons from TARGET2 imbalances: The case for the ECB being a lender of last resort

63%
Chmielewski T., Sławiński A.
Economics and Business Review
|
2019
|
vol. 5 (19)
|
issue 2
EN
During the global banking crisis of 2007-2009 and the Eurozone sovereign debt crisis of 2010-2012 the so called ‘TARGET2 imbalances’ attracted considerable attention. Some economists interpreted them as a symptom of the ECB’s ‘stealth bailout’. The aim of the paper is to highlight that contrary to such claim, the emergence of TARGET2 imbalances reflected the benefits of having a mutual central bank within a monetary union which facilitated cross-border funding in spite of the global financial turbulence. The ECB’s liquidity loans to commercial banks in the Eurozone debtor countries shielded the Eurozone from a much deeper financial crisis than it actually occurred. The emergence of the TARGET 2 imbalances was actually only an accounting phenomenon resulting from the fact that these liquidity loans were technically extended by the debtor countries’ national central banks which are de facto (from the monetary policy perspective) ECB’s regional branches.
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