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Search results for: UNCERTAINTY, SPECULATIVE ASSET, GEOPOLITICAL RISK, GLOBAL ECONOMIC POLICY, CRYPTOCURRENCY
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Cryptocurrencies as a speculative asset. How much uncertainty is included in cryptocurrency price?
PublicationThe aim of this paper is to examine the relationship between uncertainty indices (Geopolitical Uncertainty Index and Global Economic Policy Uncertainty Index) and cryptocurrencies. In order to conduct research, the authors collected the data on the major cryptocurrencies (Bitcoin, Ethereum, Tether, Dogecoin and USD coin) which account for 78% of the total market cap. Using panel OLS regression, this study finds that Bitcoin...
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QUANTITATIVE EASING POLICY AND ITS IMPACT ON THE GLOBAL ECONOMY
PublicationBased on the analysis of the impact of quantitative easing policies on the global economy, there was concluded that the world’s largest central banks and widespread debt stimulation have created the model of economic growth. This model was based on the productivity growth. The lack of productivity growth in the developed world, the active integration of developing countries (first of all China and India) in the global economy have...
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Global Competitiveness and Economic Growth: A One-Way or Two-Way Relationship?
PublicationThe Global Competitiveness Index is treated as a standard to measure the competitiveness of countries. Leaders look at it to make policy and resource allocation decisions because global competitiveness is expected to be related to economic growth. However, studies which analyze the empirical relationship between these two economic categories are very rare. It is still an open question in the literature whether economic growth can...
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Energy Efficiency and Economic Policy: Comprehensive Theoretical, Empirical, and Policy Review
PublicationIn this paper, we analyze the role of economic policy in prompting energy efficiency. This study reviews three aspects, theoretical, empirical, and existing policies to evaluate the relationship of energy efficiency and economic policy. This study furthermore identifies the existing issues from a policy perspective in energy efficiency. Although not all public policies may be justified, it suggests that these types of financial...
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Global Surrogate Modeling by Neural Network-Based Model Uncertainty
PublicationThis work proposes a novel adaptive global surrogate modeling algorithm which uses two neural networks, one for prediction and the other for the model uncertainty. Specifically, the algorithm proceeds in cycles and adaptively enhances the neural network-based surrogate model by selecting the next sampling points guided by an auxiliary neural network approximation of the spatial error. The proposed algorithm is tested numerically...
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Global energy transition: From the main determinants to economic challenges regions
PublicationDynamic global energy transition has been accelerating for the last decade. Interestingly, the energy transition is multidimensional and concerns both the dimensions of technique/ technology and the economic, social, institu-tional, and legal spheres (Shuguang et al., 2022; Tzeremes et al., 2022; Ram-zan et al., 2022; Tzeremes et al., 2022). The literature also points to the signif-icant impact of the digitization of the global...
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Tackling microplastics pollution in global environment through integration of applied technology, policy instruments, and legislation
PublicationMicroplastic pollution is a serious environmental problem that affects both aquatic and terrestrial ecosystems. Small particles with size of less than 5 mm, known as microplastics (MPs), persist in the environment and pose serious threats to various species from micro-organisms to humans. However, terrestrial environment has received less attention than the aquatic environment, despite being a major source of MPs that eventually...
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Economic Foundations for Creative Ageing Policy, Volume II
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Economic Foundations for Creative Ageing Policy, Volume I
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Uncertainty assessment in the safety and security oriented risk analyses
PublicationW artykule przedstawiono uwzględnienie oceny niepewności w procesie związanym z analizą ryzyka i analizą bezpieczeństwa oraz ochroną informacji. Przedstawiona została koncepcja oceny bezpieczeństwa i zarządzania ryzykiem z uwzględnieniem analizy warstw zabezpieczeń LOPA. W artykule nakreślono wyzwania związane z integracją podejścia oceny bezpieczeństwa (safety) i ochrony informacji (security) w projektowaniu systemów zabezpieczeń...
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Global and regional economic inequality: Methods of measurement and evidences
PublicationThe lack of countries’ statistical income data, comparable across countries and years, seems to be the main reason of controversial conjectures concerning global inequality and its evolution over time. In the databases, which purport to collect income data on a worldwide scale, only some summary statistics (quantile income shares, means, Gini indices) are presented. Therefore, the development of efficient methods of extracting...
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Cash Flow Management in Small and Medium Enterprises in Times of Economic Uncertainty
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Risk of incorrect pass-fail decisions associated with assessment uncertainty
PublicationA mathematical framework for calculation teacher's and student's risks of incorrect pass-fail decisions under uncertainty of assessment, is presented. The probabilistic model of assessment process is adapted from interdisciplinary probabilistic theory of measurement.
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THE COVID-19 DISEASE AND POLICY RESPONSE TO MITIGATE THE ECONOMIC IMPACT IN THE EU
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Municipality’s financial potencial and policy of flood risk management in Poland
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Challenges of the risk analysis of critical systems for insurance purposes under uncertainty
PublicationProponuje się metodę analizy ryzyka dla celów ubezpieczeniowych. Podkreśla się, że zarządzanie bezpieczeństwem systemów podwyższonego ryzyka i systemów krytycznych, obejmujące instrumenty Ubezpieczeniowe, wymaga stosowania odpowiednich metod szczególnej analizy ryzyka z uwzględnieniem problemu niepewności. Proponuje się podejście reprezentowania niepewności w ocenach ryzyka za pomocą przedziałów liczbowych, ogólnie przedziałów...
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Uncertainty in maritime risk analysis: Extended case study on chemical tanker collisions
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ICT for Global Competitiveness and Economic Growth in Emerging Economies: Economic, Cultural, and Social Innovations for Human Capital in Transition Economies
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Information and Communication Technology Management for Global Competitiveness and Economic Growth in Emerging Economies
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City as a product. Architecture as an Economic Instrument. Are Global Cities People-Friendly Places?
PublicationWhile spending time in our everyday urban environment do we ever think how particular architecture influences the economic value of that space? Space has its measurable financial value. From the economic point of view a place can be treated as a product that fights for appearing in tourists’ and investors’ consciousnesses. Space - treated as an object of demand and supply - becomes an element in a marketing game. To reach its...
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THE IMPLICATIONS OF ECONOMIC DEVELOPMENT, CLIMATE CHANGE AND EUROPEAN WATER POLICY ON SURFACE WATER QUALITY THREATS
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Analysis of Investments in RES Based on the Example of Photovoltaic Panels in Conditions of Uncertainty and Risk—A Case Study
PublicationThe aim of this study is to examine the profitability of investment in a photovoltaic microinstallation, to analyze the impact of legal changes on its profitability, and to perform a sensitivity analysis of the investment profitability to energy price changes. The novelty of the research applies to the financial analysis of two legal systems of discount called net-metering and net-billing. The two systems and the change in energy...
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Different philosophical approaches to estimating missing data in AHP frameworks for uncertainty representation in risk assessments
PublicationAHP (ang. Analytic Hierarchy Process) jest jedną z metod szeroko stosowaną w wieloatrybutowym podejmowaniu decyzji. Zwykle ekspert lub grupa ekspertów jest proszona o wyrażenie swojej subiektywnej opinii o każdej z par wariantów decyzyjnych. Na tej podstawie tworzone są tzw. macierze ocen. Zdarza się często, że macierze takie są niekompletne i wtedy występuje problem brakujących danych. Referat dotyczy wybranych metod ich uzupełnienia.
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COVID-19-Associated Mucormycosis (CAM): Case-Series and Global Analysis of Mortality Risk Factors
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Central and Eastern European States from an International Perspective: Economic Potential and Paths of Participation in Global Value Chains
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Andrzej Klimczuk Economic Foundations for Creative Ageing Policy, Volume 1: Context and Considerations Palgrave Macmillan, 2015. 208 p. $115.00.
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Modeling the economic dependence between town development policy and increasing energy effectiveness with neural networks. Case study: The town of Zielona Góra
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State tax policy and reform tools as a risk of running a business. Case study based on Polski Ład – Polish tax reform
PublicationThe aim of the article is to describe and present the Polish tax reform introduced at the beginning of 2022. Tax changes introduced in Poland had a strong impact on the risk of running a business in Poland because in their assumption they directly changed the rules of running a business. Due to the pace of the introduced changes, as well as the scope of the reform, the new tax law was subject to numerous criticisms of taxpayers...
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Editorial: Coronavirus disease (COVID-19): Socio-economic systems in the post-pandemic world: Design thinking, strategic planning, management, and public policy
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Impact of digital technologies on reliability of risk forecasting models - case study of enterprises in three global financial market regions
PublicationThis chapter focuses on the evaluation of impact of ICT on reliability of financial risk forecasting models. Presented study shows how the development of ICT can improve the effectiveness of such models. Determining a firm’s financial risk is one of the most interesting topics for investors and decision-makers. The multifaceted goal of the presented research is to separately estimate five traditional statistical and five soft computing...
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Economic conditions for the development of energy efficient civil engineering using RES in the policy of cohesion of the European Union (2014–2020). Case study: The town of Zielona Gora
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The condition of economies. Do most valuable global brands matter?
PublicationResearch background: Brands are considered to be the most valuable asset of a company. Some of them achieve spectacular global results. The significance of global brands is proved by the fact that their value is often greater than the sum of all company’s net assets. Purpose of the article: The aim of this article is to highlight that brand value does not only create company’s value, but also leverages economies. The Authors claim...
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Estimating inequality aversion from subjective assessments of the just noticeable differences in welfare
PublicationResearch background: In Economics, the concept of inequality aversion corresponds with the concept of risk aversion in the literature on making decision under uncertainty. The risk aversion is estimated on the basis of subjective reactions of people to various lottery prospects. In Economics, however, an efficient method of estimating inequality aversion has not been developed yet. Purpose of the article: The main aim of this paper...
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Economic Situation in Balkan Countries in the First Decade of 21st Century
PublicationThe recent economic crisis affected most of the countries in the world to a greater or lesser extent, including small economies sector. Small economies are a distinctive group of countries distinguished by particular qualities. They are dependent on trade exchange or international investment stream, and both their aggregate demand and supply, and price level depend on the development of the big economies dynamics. This is the reason...
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Review of Research into Enterprise Bankruptcy Prediction in Selected Central and Eastern European Countries
PublicationIn developed countries, the first studies on forecasting bankruptcy date to the early 20th century. In Central and Eastern Europe, due to, among other factors, the geopolitical situation and the introduced economic system, this issue became the subject of researcher interest only in the 1990s. Therefore, it is worthwhile to analyze whether these countries conduct bankruptcy risk assessments and what their level of advancement is....
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Effect of the integration into Global Value Chains on the employment contract in Central and Eastern European countries
PublicationResearch background: In the era of globalization, there is a need to address decent work deficits in Global Value Chains (GVCs). The forms of working conditions reveal a broad dispersion of contents. The literature review exposes hardly any Europe-focused research assessing the socioeconomic impact of global production links and going beyond their pure economic effects assessed in terms of employment, productivity or wages. Purpose...
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The role of the One-Belt One-Road initiative in China's exports and global value chains
PublicationResearch background: China is regarded as the “world factory” highly involved in international trade and plays an increasingly important role in the global value chains (GVC). Additionally, the “One-Belt One-Road” (OBOR) initiative was proposed by the Chinese government to further promote China in the international market. Purpose of the article: The article explores the role of the OBOR in China’s exports and global value...
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Examples of Taxation on Real Estate Properties as an Long-term Investment Asset. Description of Situation in Selected European Countries
PublicationReal estate properties have become the alternative asset for long-term savings and investments. Such investment however is strictly related to risk inter alia taxation policy. The following article describes and discusses both theoretical and practical aspects of long-term investment taxation imposed on real estate market in selected European countries. The article presents the analyses of the taxes including its functions, mechanisms...
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Social convergence in Nordic countries at regional level
PublicationResearch background: Geographical proximity, common historical roots and collaboration within the Nordic Council cause the Nordic countries to be often wrongly treated as monoliths. However, in reality, Nordic regions differ in terms of broadly defined social and economic development. Issues concerning the standard of living are one of the priorities of the Helsinki Treaty signed by Nordic countries. Purpose of the article: The...
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The Most Valuable Global Brands and Condition of Economies: a Spatial Approach
PublicationResearch background: Brands are considered to be the most valuable asset of a company. Some of them achieve spectacular global results. The significance of global brands is proved by the fact that their value is often greater than the sum of all company’s net assets. Purpose of the article: The aim of this article is to highlight that brand value does not only create company’s value but also leverages economies. We claim that even though...
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CONTAINER SHIPPING MARKET IN THE BALTIC SEA REGION
PublicationThe following article presents the situation on the maritime container transport market in the Baltic Sea Region. In the first part the author focuses on describing the specifics of the economic and geopolitical area of the Baltic Sea. The following parts include the market container shipping description along with its individual participants, such as carriers or seaports. Finally, the dynamic development of Polish container ports...
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Sustainable Investing. Socio-Economic Impacts of Exchange-Traded Funds
PublicationSustainable Investing: Socio-Economic Impacts of Exchange-Traded Funds examines the social and economic effects of sustainable investing ETFs and their impacts on the global financial system. The book presents the key issues with regard to sustainable investing, discussing exchange-traded funds mechanisms and categories in comparison to competing investment funds. The book outlines the theoretical determinants of ETF markets development...
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GVC and wage dispersion. Firm-level evidence from employee-employer database
PublicationResearch background: Wage inequalities are still part of an interesting policy-oriented research area. Given the developments in international trade models (heterogeneity of firms) and increasing availability of micro-level data, more and more attention is paid to wage differences observed within and be-tween firms. Purpose of the article: The aim of the paper is to address the research gap concerning limited cross-country evidence...
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A Panel Analysis of the Impact of Green Transformation and Globalization on the Labor Share in the National Income
PublicationThis study aims to examine the impact of green transition and globalization processes on changes in the labour share. The study covers 76 national economies diversified in development, global production share and energy transition stage from 2000 to 2018. Based on the Total Economy Database data, panel models of the relationship between green transition, globalization and the labour share in the national income were estimated....
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Corporate social responsibility and forward default risk mediated by financial performance and goodwill
PublicationIn today’s business environment, corporate social responsibility (CSR) has become an increasingly significant factor for firms. This study is driven by the motivation to add to the current literature by investigating the mediating elements that explain the relationship between CSR and forward default risk. In this paper, we attempt to identify the important mediators and give a more comprehensive explanation of this connection...
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Hierarchical influence diagrams for incorporating human and organizational factors in risk assessment of hazardous industrial systems
PublicationArtykuł dotyczy podstawowych zagadnień związanych z czynnikami organizacyjnymi i ludzkim w analizie ryzyka złożonych systemów przemysłowych. Analizuje się podobieństwa i różnice pomiędzy hierarchicznymi diagramami wpływu i hierarchicznym procesem analizy decyzyjnej i na tej podstawie proponuje się uogólnione podejście do rozważanej analizy decyzyjnej uwzględniające dane rozmyte.
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Designing Control and Protection Systems with Regard to Integrated Functional Safety and Cybersecurity Aspects
PublicationThis article addresses current problems of risk analysis and probabilistic modelling for functional safety management in the life cycle of safety-related systems. Two main stages in the lifecycle of these systems are distinguished, namely the design and operation. The risk analysis and probabilistic modelling differ in these stages in view of available knowledge and data. Due to the complexity and uncertainty involved, both qualitative...
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The Bridge to Knowledge – Open Access to Scientific Research Results on Multidisciplinary Open System Transferring Knowledge Platform
PublicationThe European policy of Open Access to scientific research is now one of the key issues discussed in public debates on the future development of scientific communication. The implementation of Open Access tools has significant impact on scientific and economic growth. On the one hand, Open Access accelerates disseminating new research findings and facilitates recognition of authors on a more global scale. On the other hand, Open...
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Determining and verifying the safety integrity level of the safety instrumented systems with the uncertainty and security aspects
PublicationSafety and security aspects consist of two different group of functional requirements for the control and protection systems. In the paper it is proposed that the security analysis results can be used as a factor increasing or decreasing the risk level. It concerns a process of determining required safety integrity level of given safety functions. The authors propose a new approach for functional safety risk analysis. In this case...
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Advancing the evidence base for public policies impacting on dietary behaviour, physical activity and sedentary behaviour in Europe: The Policy Evaluation Network promoting a multidisciplinary approach
PublicationNon-communicable diseases (NCDs) are the leading cause of global mortality. As the social and economic costs of NCDs have escalated, action is needed to tackle important causes of many NCD’s: low physical activity levels and unhealthy dietary behaviours. As these behaviours are driven by upstream factors, successful policy interventions are required that encourage healthy dietary behaviours, improve physical activity levels and...