Poland as an inflation nutter: The story of successful output stabilization

The goal of the paper is to verify whether the National Bank of Poland (NBP) follows pure inflation targeting. The contemporaneous and forward looking, numerous Taylor rules estimated with the OLS and GMM methods provided weak evidence of any significant importance attached by NBP to output stabilization in the reaction function. The strong focus of NBP on its primary target has led to a satisfactory performance of the central bank in stabilizing the real economy. This suggests the basic conclusion that pure inflation targeters may perform equally fine in stabilizing the real economy as countries which officially attach importance to output stabilization.The goal of the paper is to verify whether the National Bank of Poland (NBP) follows pure inflation targeting. The contemporaneous and forward looking, numerous Taylor rules estimated with the OLS and GMM methods provided weak evidence of any significant importance attached by NBP to output stabilization in the reaction function. The strong focus of NBP on its primary target has led to a satisfactory performance of the central bank in stabilizing the real economy. This suggests the basic conclusion that pure inflation targeters may perform equally fine in stabilizing the real economy as countries which officially attach importance to output stabilization

Kryzys na amerykańskim rynku nieruchomości – ocena zagrożenia Polski

Celem artykułu jest odpowiedź na pytanie, w jakim stopniu Polska jest narażona na negatywne konsekwencje kryzysu na amerykańskim rynku nieruchomości. Do wspomnianych konsekwencji zaliczyć można: spadek PKB, spadek popytu konsumpcyjnego, malejące zainteresowanie udzielaniem kredytów, spadek inwestycji, zmiany kursów walutowych oraz migracje kapitałów. Przedstawione zostanie także porównanie sposobów przeciwdziałania skutkom kryzysu stosowanych przez Unię Europejską, Stany Zjednoczonei Polskę. Zróżnicowane sposoby działania dotyczą przede wszystkim różnych reakcji stóp procentowych. Wielorakie reakcje poszczególnych krajów na kryzys stanowią jedną ze zmiennych umożliwiających ocenę sposobu postępowania Polski w okresie kryzysu oraz jakości polskiej polityki pieniężnej w tym trudnym okresie

Experimental Demonstration of Spectral Intensity Optical Coherence Tomography

We demonstrate experimentally quantum-inspired, spectral-domain intensity optical coherence tomography. We show that the technique allows for both axial resolution improvement and dispersion cancellation compared to conventional optical coherence tomography. The method does not involve scanning and it works with classical light sources and standard photodetectors. The measurements are in excellent agreement with the theoretical predictions. We also propose an approach that enables the elimination of potential artifacts arising from multiple interfaces

IS DEFLATION TRAP A SERIOUS THREAT? CASE STUDY OF FED, ECB AND NBP

The goal of the paper is to compare nonstandard solutions implemented by Federal Reserve System, European Central Bank and National Bank of Poland in response to the outbreak of a subrime crisis in United States and to debt crisis in European Union. For that purpose there is carried out a comparative, descriptive analysis of institutional steps taken by the three central banks and the governments to preserve macroeconomic stability. The nonstandard measures allowed to avoid a comeback of the Great Depression and restored market’s confidence, unfortunately at the cost of decreased resilience for future possible crises along with many other medium and long run unintended consequences

Effects of Being in an Occupation Is ISCO 1 Digit Classification Enough to Model Wages in Poland

Contrary to neoclassical assumptions of perfect competition, there is a consensus that factors affecting wages include sex, level of education, age, job experience, occupation, post, work-related responsibility and a whole set of personality traits. The paper presents an econometric model that allows to explain wage differences in Poland and extends analyses of wage determinants in Poland by taking into account occupations broken down in accordance with the 2-digit level of International Standard Classification of Occupations (ISCO). The analysis shows that ISCO 2 digit level is an important and statistically significant determinant of wages in Poland, while models of wages basing on ISCO 1 digit might be not enough to properly capture the role of occupations.W przeciwieństwie do neoklasycznych założeń doskonałej konkurencji istnieje konsensus, że do czynników wpływających na wysokość uzyskiwanego wynagrodzenia zaliczyć należy płeć, poziom wykształcenia, wiek, doświadczenie zawodowe, wykonywany zawód, posiadane stanowisko, stopień odpowiedzialności związanej z wykonywaną pracą oraz cały zestaw indywidualnych cech osobowościowych. W artykule posługując się Międzynarodową Klasyfikacją Zawodów i Specjalności (ISCO) na poziomie 2 cyfr uzyskano oceny parametrów strukturalnych modelu, które pozwalają wyjaśnić różnice wynagrodzeń w Polsce. Na podstawie przeprowadzonej analizy stwierdzono, że wykonywany zawód, mierzony na poziomie ISCO 2 cyfry jest ważną i statystycznie istotną zmienną oddziałującą na wysokość uzyskiwanego wynagrodzenia w Polsce. Modelowanie wynagrodzeń wykorzystujące klasyfikację ISCO, ale ograniczoną tylko do poziomu 1 cyfry, może być niewystarczające, aby prawidłowo uchwycić znaczenie wykonywanego zawodu dla uzyskiwanego wynagrodzenia

Gender Pay Gap In The Micro Level – Case Of Poland

The paper analyzes the size of the GPG in enterprises located in Poland and with at least 10 employees. For this purpose a linear model is constructed for individual data that allows to distinguish the influence of sex, occupation and education on the earnings. That allows to explain the size of income discrepancies caused by external, objective factors and assess the magnitude of sex discrimination

ANALIZA PORÓWNAWCZA POLITYKI PIENIĘŻNEJ POLSKI I ZASADY MONETARY RULE W LATACH 1995-2007

Artykuł ten przedstawia porównanie strategii bezpośredniego celu inflacyjnego i Friedmanowskiej zasady monetary rule. Analizie poddana zostaje Polska w latach 1995-2007. Celem artykułu jest odpowiedź, który sposób działania jest skuteczniejszy i czy istnieją elementy wspólne dla obu strategii prowadzenia polityki pieniężnej

Perception and Reality: An Examination of American Print Advertising

I contend current American print advertising relies on the objectification of the body, both male and female, in conjunction with the use of utopian ideals to sell products. The nature of the print ad and mass media is such that they gratuitously inform our cultures ideas on gender and normalcy. By depicting unrealistic images of normalcy and unattainable representations of beauty, advertising not only creates consumer anxiety to purchase products beyond economic means, but also to manipulate our bodies unnaturally, and it creates tension in relations between genders. As a Graphic Designer, I strive to not only reverse this process in my work but to inform and educate viewers on these issues using the same medium within which the issue lies, print

The Polish Regional Labour Market Welfare Indicator And Its Links To Other Well-being Measures

W artykule zaproponowano i skonstruowano zagregowany miernik dobrobytu na rynku pracy w Polsce na przykładzie roku 2013. Miernik ten okazał się pozytywnie skorelowany z poziomem cywilizacyjnym, dobrostanem społecznym, dobrobytem materialnym i dobrostanem psychicznym. Oznacza to, że wraz z polepszeniem się sytuacji na rynku pracy poprawia się jakość życia społeczeństwa w Polsce. Nie wykazano statystycznie istotnego związku między dobrobytem na rynku pracy a współczynnikiem dzietności.We propose and construct an indicator of labour market well-being in Poland for the year 2013. The indicator is positively related to the degree of civilizational welfare, social welfare, material welfare and psychological wellbeing in Poland. We conclude that ameliorating the labour market situation improves the quality of the public’s life. The link between our labour market indicator and the total fertility rate turned out to be statistically insignificant

Tomotherapy archive structure and new software tool for loading and advanced analysis of data contained in it

AbstractAimThe main objective of the study was to analyze the structure of data contained in the archives exported from a tomotherapy treatment planning system. An additional aim was to create an application equipped with a user-friendly interface to enable automatic reading of files and data analysis, also using external algorithms. Analyses had to include image registration, dose deformation and summation.Materials and methodsFiles from the archive exported from the tomotherapy treatment planning system (TPS) were analyzed. Two programs were used to analyze the information contained in the archive files: XML Viewer by MindFusion Limited and HxD hex editor by Maël Hora. To create an application enabling loading and analyzing the data, Matlab by MathWorks, version R2009b, was used.ResultsArchive exported from the TPS is a directory with several files. It contains three types of data: .xml, .img and .sin. Tools available in Matlab offer great opportunities for analysis and transformation of loaded information. Proposed application automates the loading of necessary information and simplifies data handling. Furthermore, the application is equipped with a graphical user interface (GUI). The main application window contains buttons for opening the archives and analyzing the loaded data.ConclusionThe analysis of data contained in the archive exported from the tomotherapy treatment planning system allowed to determine the way and place of saving information of our interest, such as tomography images, structure sets and dose distributions. This enabled us to develop and optimize methods of loading and analyzing this information