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Wyniki wyszukiwania dla: TRADE
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Conditions of Iranian international trade in terms of lifting the sanctions: A case study of Polish-Iranian trade perspectives
PublikacjaThe main aim of the paper is to identify the areas and determine the feasibility of trade between Polish and Iranian companies in relation to historical and cultural conditions. The authors describe the complexity of the issue of foreign trade, the determinants of relations between Poland and the Islamic Republic of Iran, and the Iranian economy – its features, strengths and weaknesses, and consequences of the recent UN, EU, and...
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Workers, Firms and Task Heterogeneity in International Trade Analysis: An Example of Wage Effects of Trade Within GVC.
PublikacjaObjective: The main aim of this article is to present how the heterogeneity of workers, firms, and tasks can be incorporated into empirical international trade analysis. In particular, we provide an empirical example in which we aim to quantify the reliance on foreign value added (FVA) within Global Value Chains (GVC) on wages. Research Design & Methods: We estimate a Mincerian wage model augmented with a measure of foreign value...
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FOREIGN TRADE WITH CHINA: NO REASON FOR “GERMAN ANGST”
PublikacjaSankcje w związku z rosyjską agresją zbrojną przeciwko Ukrainie i naruszenie zwykłych światowych szlaków handlowych powodują w Niemczech obawy, że niemiecka gospodarka może zostać szantażowana handlem z silnym partnerem, tj. Chinami.Analiza danych dotyczących niemiecko-chińskiego handlu zagranicznego i jego wpływu na gospodarkę i zatrudnienie pokazuje, że Chiny są jednym z nielicznych...
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Trade diversity and stages of development - evidence on EU countries.
PublikacjaThe paper presents the dynamics of trade diversification with respect to stages of development in the European context. The analysis focuses on EU27 countries observed across the years 1988–2010 and compared to a sample of 136 international economies at all levels of income per capita. We will use product level statistics (six digit HS0) and confront export and import patterns of absolute diversification/concentration. The results...
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Determinants of trade balance in Polish and Czech manufacturing sectors
PublikacjaResearch background: A strong industrial base is essential for achieving long-term sustainable economic growth and export competitiveness. In that sense, manufacturing remains a significant contributor to exports in the CEE countries. However, its role and its influence vary between CEE economies and change over time. Purpose of the article: The main objective of this paper is to compare the determinants of the international competitiveness,...
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Free trade with the former COMECON Countries as Unequal Exchange
PublikacjaTwo authors of this chapter were born to the East of what was once The Iron Curtain and two to the West. From both angles, the two systems – capitalism and communism – seemed to be as contrary to each other as possible. Few people are aware that in terms of industrial and trade policy, both classical capitalism and communism had a common root in the theories of German economist Friedrich List (1789-1846) (List, 1841). In fact,...
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Time versus space trade-offs for randezvous in trees
PublikacjaTwo identical (anonymous) mobile agents start from arbitrary nodes of an unknown tree and have to meet at some node. Agents move in synchronous rounds: in each round an agent can either stay at the current node or move to one of its neighbors. We consider deterministic algorithms for this rendezvous task. The main result of this paper is a tight trade-off between the optimal time of completing rendezvous and the size of memory...
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The transformation of Polish foreign trade in European integration process
PublikacjaW artykule analizowane są przemiany handlu zagranicznego Polski w warunkach integracji ze Wspólnotami Europejskimi. Okres analizy obejmuje lata 1980-2003 i 2004 - lipiec 2005.
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The Dynamics of Trade Relations between Ukraine and Romania: Modelling and Forecasting
PublikacjaThe article examines the monthly dynamics of exports, imports and balance of trade between Ukraine and Romania in the period from 2005 to 2021. Time series from 2015 to 2021 were used for modelling and forecasting (since the date the European Union–Ukraine Association Agreement took effect). Adequate models of the dynamics series of the Box-Jenkins methodology were built: additive models with seasonal component ARIMA (Autoregressive...
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Trade-offs in multiparty Bell-inequality violations in qubit networks
PublikacjaTwo overlapping bipartite binary input Bell inequalities cannot be simultaneously violated as this would contradict the usual no-signalling principle. This property is known as monogamy of Bell inequality violations and generally Bell monogamy relations refer to trade-offs between simultaneous violations of multiple inequalities. It turns out that multipartite Bell inequalities admit weaker forms of monogamies that allow for violations...
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Within- and between-firm wage inequalities and trade integration in GVC
PublikacjaThis paper examines between- (inter) and within- (intra) firm wage inequality using rich employer-employee data for 12 European countries. We confirm that much overall wage inequality is observed within sectors and within occupations. The share of the within- and between-firm components in overall wage inequality varies across countries. We estimate the link between involvement in global value chains (GVCs) and wages differentiating...
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Hold-Up Problems in International Gas Trade: A Case Study
PublikacjaThe infrastructure required for international natural gas trade is considerable, which often leads to hold-up problems and supply disruptions. This study discusses disruptions of gas supply from Algeria, Indonesia, Russia, and Turkmenistan since the early 1980s. The novelty of this study is its focus on the issues related to transit countries, which are rarely considered in the literature. The results of the study classify supply...
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Risk Scoring Models for Trade Credit in Small and Medium Enterprises
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Consequences of russia’s military invasion of Ukraine for Polish-Ukrainian trade relations
PublikacjaAn accurate forecast of interstate trade volume allows for short-term and long-term planning, particularly deciding on state budget revenues, foreign exchange earnings, border arrangement, other infrastructure, migration and social policies. Hostilities are destructive so the russian military aggression against Ukraine in 2022 needs to be assessed in terms of its effects on key economic aspects of Polish-Ukrainian relations, as...
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Trade in value added of countries involved in TTIP: EU-USA comparison
PublikacjaThe aim of this paper is to present key facts concerning trade in the value added of those countries participating in the Transatlantic Trade and Investment Partnership (TTIP). In particular, we describe how involvement in global production networks (GPN) varies across EU countries with respect to the United States.
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The Opening of Central and Eastern European Countries to Free Trade: A Critical Assessment
PublikacjaThree decades after the fall of the Berlin wall and one and a half decades after the Big Bang enlargement of the European Union (2004-2007), we revisit contrasting narratives about the benefit of both free trade and the EU enlargement for Central and Eastern European (CEE) countries. We distinguish old, pre-2004 EU countries from CEE countries that joined the EU in 2004-2007, as well as from the CEE countries that have not become...
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CEE Trade in Services: Value-Added Versus Gross Terms Approaches
PublikacjaThis article assesses the impact of the determinants of service exports in both value-added terms and gross terms for seven Central Eastern European economies in 1995–2011. The results confirm the importance of increasing labor productivity and highly skilled and medium-skilled workers in the growth of trade in services. Exports of services are also supported by linkages between domestic services, especially business services,...
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Productivity effects of trade in natural resources—comparison with mechanisms of technological specialisation
PublikacjaThis paper compares two alternative growth paths, assessing the effects on productivity of specialisation in natural resources (NR) and in technologically advanced products. The empirical analysis exploits product-level export data for 109 developing and 51 developed economies over the period 1996–2018. We document two distinct types of specialisation, based on exports either of natural resources or of technological products, and...
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The evolution of market integration between the eu and poland - price and trade approach
Publikacjaw artykule przedstawiono dwa podejscia do mierzenia integracji ekonomicznej tj. podejscie od strony cen i podejscie od strony przepływów handlowych. na podstawie 49 wyselekcjonowanych cen produków oraz danych o wolumenie i wartosci eksportu i importu tych produktów autorki wyliczyły przy zastosowaniu wybranych modeli panelowych stopień rynkowej integracji między Polską a krajami UE15.
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Does China use its trade potential in the Belt and Road Initiative properly? The relations between Chinese value added and trade potential in the European countries: bottom-up analysis
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The evolving structure of Polish exports (1994-2010) - diversification of products and trade partners.
PublikacjaThis paper presents empirical evidence on the diversification process concerning Polish exports (1994–2010), compared to European and global samples of countries. It analyzes both the commodity structure of Polish trade and the geographical diversification of Poland’s trading partners. The analysis draws on highly disaggregated data on exports (HS 6 digit) and combines descriptive analysis with non-parametric, semi-parametric and...
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International trade and containerization - certain trends after the financial crisis of 2007-2008
PublikacjaThe following article presents the situation on international trade and the global maritime container transport market after the financial crisis of 2007-2008. In the first part the author focuses on describing the specifics of containerization in global trade. The following parts include characteristic of container terminal operators and shipping lines. Finally, significant changes in the global container handling market after...
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Mind the Gender Wage Gap – the Impact of Trade and Competition on Sectoral Wage Difference
PublikacjaThis article examines differences between women’s and men’s wages in 18 selected OECD countries in the period 1970-2005. The study is based on 12 manufacturing sector- and skill-specific sets of panel data on the gender wage gap. We apply a system GMM estimator to the extended version of the conditional gender wage gap convergence equation, controlling for sector concentration and industry-specific measures of openness using a...
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Decentralized Microgrid Energy Management System with Market-Based Energy Trade System
PublikacjaThis paper presents a decentralized energy management system for a power microgrid, which integrates individual users, who own renewable energy sources and energy storages. The purpose of the system is to make optimal use of available resources to cover the electricity needs of the whole microgrid. Thanks to the energy exchange system, in addition to exchanges with the distribution network, the system also allows trades within...
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Correlation between the Level of Economic Growth and Foreign Trade: The Case of the V4 Countries
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Foreign Trade Changes in Poland and Slovakia as an Effect of Europeanization before and after the Accession
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Determinants of the European Union’s Trade - evidence from a panel estimation of the gravity model
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Trade potential of Rwanda: Policy implications from taxonomic analysis of quality of institutions
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The intensification of foreign trade in post-socialist countries and their role in global value chains
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Skilled-Unskilled Wage Gap Versus Evolving Trade And Labour Market Structures in the EU
PublikacjaThis paper proposes an alternative approach to the empirical study of wage gap between workers with different educational levels in the enlarged EU. The analysis is based on sectoral database, linking labor market statistics and trade data at the level of 12 manufacturing sectors in a group of 20 European countries: selected New Member States (NMS-5) and former EU-15 economies, in the period 1995-2005. The results of the empirical...
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Tax Evasion, Tax Morale, and Trade Regulations: Company-Level Evidence from Poland
PublikacjaObjective: To investigate the determinants of the phenomenon of evading taxes among polish entrepreneurs. In particular, I examine such factors as tax administration satisfaction, tax morale, tax burden, and the influence of trade regulations. Research Design & Methods: A survey study conducted in 2017 in Poland among 454 enterprises. I used the zero-inflated negative binomial modelling technique to examine the impact of factors...
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Extended investigation of performance-energy trade-offs under power capping in HPC environments
Publikacja—In the paper we present investigation of performance-energy trade-offs under power capping using modern processors. The results are presented for systems targeted at both server and client markets and were collected from Intel Xeon E5 and Intel Xeon Phi server processors as well as from desktop and mobile Intel Core i7 processors. The results, when using power capping, show that we can find various interesting combinations of...
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Constrained optimization for generating gain-bandwidth design trade-offs of wideband unidirectional antennas
PublikacjaBroadband unidirectional antennas realised in microstrip technology find applications in many wireless communication systems. One of their design challenges is the necessity of handling multiple performance figures which is difficult when using traditional design methods, largely based on parameter sweeping. This work presents a simple optimisation-based framework that permits generation of gain-bandwidth trade-off designs for...
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Trade differentiation and the characteristics of new imported and exported products - international panel data analysis
PublikacjaDrawing on o large panel of international economies we have shown how the set of imported and exported products evolves in economic growth process. Strong activity at the extensive margin, manifested through the rise in the number of active export and import lines, is typical for early stages of development. Trade diversification tendency, typical for a predominant mass of observations in our panel, is associated with changes in...
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SDGs implementation, their synergies, and trade-offs in EU countries – Sensitivity analysis-based approach
PublikacjaSustainable development is one of the most urgent challenges facing humanity. Its basic principle is to improve people’s well-being and maintain it over time. In 2015, the United Nations approved 17 sustainable development goals (SDGs) to ensure a better and sustainable future for all, balancing economic, social and environmental development. SDGs create an ‘indivisible whole’; thus, examining their interactions is crucial. Our...
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The Influence of Oxygenated Diesel Fuels on a Diesel Vehicle PM/NOx Emission Trade-Off
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Design of hight voltage busbar: trade off between electrical field and stray inductance
PublikacjaArtykuł dotyczy optymalizacji konstrukcji i technologii szyny doprowadzenia zasilania do pojedynczej gałęzi falownika średniego napięcia. Dla szeregowego układu złożonego z trzech modułów elektroizolowanych (6 par tranzystorów i diod) rozważono warianty geometrii szyny zasilania przy uwzględnieniu wypadkowej indukcyjności obwodu komutacyjnego. Wyznaczono główne składniki indukcyjności rozproszenia oraz wykazano jej wpływ na przepięcia...
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Optimal strategy for a single-qubit gate and the trade-off between opposite types of decoherence.
PublikacjaZostał zbadany proces przesyłania kwantowej informacji w dwóch różnych otoczeniach (markowskim i niemarkowskim).
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Travel agents and destination management organizations: eLearning as a strategy to train tourism trade partners.
PublikacjaThis article offers an overview of the existing online courses run by national destination management organizations (DMOs) in order to better equip travel agents and tour operators in the sales activities of the tourism destinations. These online courses represent one of the B2B offers by DMOs and an interesting opportunity for travel agents, who are trying to find their identity and competitive advantage within the context of...
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Qualitative changes in CEECs trade specialization (1995-2005) - the implications for economic growth process
PublikacjaCelem opracowania jest przedstawienie zmian jakościowych w strukturze eksportu w krajach Europy Środkowo-Wschodniej w latach 1995-2005. Jako miernik jakościowy eksportu wykorzystano indeks Hausmann et al (2007). Wyniki badań wskazują, różnice w relatywnych poziomach PKB per capita względem krajów UE-15 są znacznie większe niz różnice w jakościowej strukturze eksportu pomiędzy Nowymi Krajami Członkowskimi a krajami ''Pięnastki''....
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The role of trade in intra industry productivity growth - the case of old and new European Union countries.
PublikacjaThe purpose of this paper is to evaluate the role of trade in productivity growth in a sample of 30 sectors in 25 EU countries in the period of rapid East–West integration (1995–2007). Shift-share analysis is used to show that changes in value added per hour worked in these countries appear to be mainly due to positive developments (rising productivity) within single industries and only to a lower extent result from a shift towards...
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The Impact of Trade Integration with the European Union on Productivity in a Posttransition Economy: The Case of Polish Manufacturing Sectors
PublikacjaThis paper addresses the relationship between productivity growth in Polish manufacturing sectors and forces stemming from trade integration with the European Union. Empirical analysis (1995-2006) is based on sector-level bilateral data concerning both domestic (Polish) and foreign (partner countries from the enlarged European Union) markets' characteristics and their degree of openness. The main results indicate that, both in...
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The impact of China’s One-Belt One-Road initiative on international trade and global value chains
PublikacjaThis study examines the potential effects of China’s ‘One-Belt One-Road’initiative (OBOR) on trade flows and global value chain (GVC) connections.The empirical analysis is based on the augmented trade gravity model, which comprises 186 economies and 199 of their partners from 2000 to 2018. We also estimate the gravity model for involvement in GVC (domestic value added in intermediate exports, foreign value added in exports, and...
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Trade of the European Union with the Post-Soviet Republics of Central Asia in the Second Decade of the 21st Century
Publikacja.The article presents the European Union's trade with five Central Asian countries: Kazakhstan, Turkmenistan, Tajikistan, Kigistan and Uzbekistan in the two decades of the 21st century.
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China’s international trade and global value chains under One-Belt One-Road initiative
PublikacjaResearch background: After China acceded to the WTO in 2001, its foreign trade has expanded rapidly to be the largest share in the world. However, China's economic development changing from high-speed growth to medium high-speed growth in recent years. At the same time, the increase in labour cost and overcapacity also hinder China’s international trade. In order to solve these challenges and strengthening ties...
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Downlink Capacity-Coverage Trade-off Estimation Based on Measurement of WCDMA/FDD Interface Load
PublikacjaThe method of capacity-coverage trade-off determination by using of universal load characteristics and normalized coverage curves for the WCDMA/FDD radio interface has been presented. The practical applications of discussed method for UMTS radio network planning process and network exploitation has been mentioned.
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Modeling and Simulation for Exploring Power/Time Trade-off of Parallel Deep Neural Network Training
PublikacjaIn the paper we tackle bi-objective execution time and power consumption optimization problem concerning execution of parallel applications. We propose using a discrete-event simulation environment for exploring this power/time trade-off in the form of a Pareto front. The solution is verified by a case study based on a real deep neural network training application for automatic speech recognition. A simulation lasting over 2 hours...
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The Role of Trade in Intra-Industry Productivity Growth-the Case of Old and New European Union Countries
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Market Size, Competitiveness and Technological Frontier - the Impact of Trade Integration with the UE on Productivity in Polish Manufacturing Sectors
PublikacjaThis paper addresses the relationship between growth of relative productivity in Polish manufacturing sectors and forces stemming from trade integration with the EU. We look at the productivity growth from the perspective of relations between Polish manufacturing sectors and the foreign ones, focusing on partner countries from the enlarged EU. Empirical analysis is based on sector level bilateral data concerning both domestic (Polish)...
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Expedite EM-driven generation of Pareto-optimal trade-off curves for variable-turn on-chip inductors
PublikacjaThis work presents a novel approach to computationally efficient Pareto front identification for variable-turn on-chip inductors. The final outcome is a set of solutions that correspond to the best trade-offs between conflicting design objectives. Here, we consider minimising inductor area and, simultaneously, maximising its quality factor, while maintaining a specified inductance value at a given operating frequency. As opposed...
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Multi-fidelity aerodynamic design trade-off exploration using point-by-point Pareto set identification
PublikacjaAerodynamic design is inherently a multi-objective optimization (MOO) problem. Determining the best possible trade-offs between conflicting aerodynamic objectives can be computationally challenging when carried out directly at the level of high-fidelity computational fluid dynamics simulations. This paper presents a computationally cheap methodology for exploration of aerodynamic design trade-offs. In particular, point-by-point...
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Modelling long-term technological transition of Polish power system using MARKAL: Emission trade impact
PublikacjaThe need for technological transition of electricity production becomes a global problem. However, in coal-dominated Polish power system this need is even more crucial than anywhere, since technical lifetime of the most domestic power plants is ending. In this paper, the impact of the EU Emission Trading Scheme (EU ETS) for CO2 combined with sulfur dioxide (SO2) and nitrogen oxides (NOx) emission trading mechanism on power technology...
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Cognitive costs of reproduction: life‐history trade‐offs explain cognitive decline during pregnancy in women
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Cassava, a 21st Century Staple Crop: How can Nigeria Harness Its Enormous Trade Potentials?
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Cocoyam [Colocasia esculenta (L.) Schott]: Exploring the Production, Health and Trade Potentials in Sub-Saharan Africa
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Analyzing energy/performance trade-offs with power capping for parallel applications on modern multi and many core processors
PublikacjaIn the paper we present extensive results from analyzing energy/performance trade-offs with power capping observed on four different modern CPUs, for three different parallel applications such as 2D heat distribution, numerical integration and Fast Fourier Transform. The CPU tested represent both multi-core type CPUs such as Intel⃝R Xeon⃝R E5, desktop and mobile i7 as well as many-core Intel⃝R Xeon PhiTM x200 but also server, desktop...
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GPU Power Capping for Energy-Performance Trade-Offs in Training of Deep Convolutional Neural Networks for Image Recognition
PublikacjaIn the paper we present performance-energy trade-off investigation of training Deep Convolutional Neural Networks for image recognition. Several representative and widely adopted network models, such as Alexnet, VGG-19, Inception V3, Inception V4, Resnet50 and Resnet152 were tested using systems with Nvidia Quadro RTX 6000 as well as Nvidia V100 GPUs. Using GPU power capping we found other than default configurations minimizing...
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Analysis of circular polarization antenna design trade‐offs using low‐cost EM‐driven multiobjective optimization
PublikacjaCircular polarization (CP) antennas are vital components of modern communication systems. Their design involves handling several requirements such as low reflection and axial ratio (AR) within the frequency range of interest. Small size is an important criterion for antenna mobility which is normally achieved as a by‐product of performance‐oriented modifications of the structure topology. In this work, multiobjective optimization...
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Patch size setup and performance/cost trade-offs in multi-objective antenna optimization using domain patching technique
PublikacjaA numerical study concerning multi-objective optimization of antenna structures using sequential domain patching (SDP) technique has been presented. We investigate the effect of various setups of the patch size on the operation of the SDP algorithm and possible trade-offs concerning the quality of the Pareto set found by SDP and the computational cost of the optimization process. Our considerations are illustrated using a UWB monopole...
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Evaluation of Trends in Foreign Trade Development in the Post-Communist Countries of Europe in the Years 2000–2012 Following their Accession to the EU
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Bandwidth-size design trade-offs for compact spline-parameterised patch couplers by means of electromagnetic-driven multi-objective optimisation
PublikacjaBroad bandwidth and small size are the key performance figures for contemporary microwave couplers. These requirements are conflicting, i.e. improvement of one generally leads to degradation of the other assuming fixed topology of the circuit at hand. From a designer's perspective, the knowledge about available design trade-offs is indispensable as it permits for tailoring the circuit for particular applications as well as comparing...
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Towards more (un)balanced trade. Production linkages between China and the Visegrad countries: country-level and sector-level analysis
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Patch size setup and performance/cost trade-offs in multi-objective EM-driven antenna optimization using sequential domain patching
PublikacjaPurpose This paper aims to assess control parameter setup and its effect on computational cost and performance of deterministic procedures for multi-objective design optimization of expensive simulation models of antenna structures. Design/methodology/approach A deterministic algorithm for cost-efficient multi-objective optimization of antenna structures has been assessed. The algorithm constructs a patch connecting extreme Pareto-optimal...
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What determines export structure in the EU countries? The use of gravity model in international trade based on the panel data for the years 1995-2015
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Circularly Polarized Antenna Array design with the Potential of Gain-Size Trade-off and Omnidirectional Radiation for Millimeter-Wave Small Base Station Applications
PublikacjaThis paper presents the design and validation of a slot-patch-hybrid circularly polarized antenna array for 28 GHz millimeter (mm) wave (mm-wave) applications. The proposed design has a simple geometry that facilitates the fabrication process, which is otherwise a challenging task due to the sub-mm dimensions of the circuit in the mm-wave band. In the proposed structure, aperture-coupled series slot-fed array is utilized to excite...
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Rapid Re-Design and Bandwidth/Size Trade-Offs for Compact Wideband Circular Polarization Antennas Using Inverse Surrogates and Fast EM-Based Parameter Tuning
PublikacjaDesign of compact wideband circularly polarized (CP) antennas is challenging due to the necessity of simultaneous handling of several characteristics (reflection, axial ratio, gain) while maintaining a small size of the structure. Antenna re-design for various operating bands is clearly more difficult yet practically important because intentional reduction of the bandwidth (e.g., by moving the lower edge of the operating band up...
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Polska leksykografia terminologiczna z komponentem rosyjskim z zakresu ekonomii, handlu i zarządzania. Bibliografia słowników wydanych w latach 1887–2015 [Polish terminological lexicography in the field of economics, trade, management, including a Russian component. A bibliography of dictionaries published between 1887–2015]
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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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Conjectured strong complementary-correlations tradeoff
PublikacjaWe conjecture uncertainty relations that restrict correlations between the results of measurements performed by two separate parties on a shared quantum state. The first uncertainty relation bounds the sum of two mutual informations when one party measures a single observable and the other party measures one of two observables. The uncertainty relation does not follow from the Maassen-Uffink uncertainty relation and is much stronger...
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Exchange-traded products in Germany: development and substitution of exchange-traded funds, exchange-traded commodities and exchange-traded notes.
PublikacjaResearch background: Exchange-traded products (ETPs) are one of the most rapidly growing categories of financial products. Their fast development has been boosted by innovative features. Three main categories of ETPs are exchange-traded funds (ETFs), exchange-traded commodities (ETCs) and exchange-traded notes (ETNs). ETCs and ETNs remain least known, even though their number on some stock exchanges is high. In Europe, Germany...
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On Tradeoffs Between Width- and Fill-like Graph Parameters
PublikacjaIn this work we consider two two-criteria optimization problems: given an input graph, the goal is to find its interval (or chordal) supergraph that minimizes the number of edges and its clique number simultaneously. For the interval supergraph, the problem can be restated as simultaneous minimization of the path width pw(G) and the profile p(G) of the input graph G. We prove that for an arbitrary graph G and an integer t ∈ {1,...
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Exploring Stock Traders’ Cognitive Biases: Research Design and Simulator Framework
PublikacjaCognitive bias is a phenomenon that has been extensively studied in stock trading and many other fields. This paper presents a framework for a Mobile Stock Trading Simulator (MSTS) that facilitates automatic investment in stocks with minimal human influence, by investigating the behavioral patterns and cognitive errors of stock market investors. The paper aims to determine whether investors’ investment strategies can be improved...
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Exchange-Traded Funds in Europe
PublikacjaExchange-Traded Funds in Europe provides a single point of reference on a diverse set of regional ETF markets, illuminating the roles ETFs can play in risk mitigation and speculation. Combining empirical data with models and case studies, the authors use diffusion models and panel/country-specific regressions—as well as graphical and descriptive analyses— to show how ETFs are more than conventional, passive investments. With new...
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Exchange Traded Funds (ETFs) rynków wschodzących
PublikacjaETFs są instrumentami umożliwiającymi osiąganie przez inwestorów szeregu korzyści, zwłaszcza w zestawieniu z tradycyjnymi funduszami. O wysokim zainteresowaniu ETFs świadczą rosnące rozmiary rynku. Jednak wzrost zróżnicowania ETFs i wprowadzenie na rynek funduszy syntetycznych sprawiły, że pojawiły się nowe czynniki ryzyka, które muszą zostać uwzględnione zarówno przez podmioty biorące udział w obrotach, jak i przez instytucje...
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W-dominance: Tradeoff-inspired dominance relation for preference-based evolutionary multi-objective optimization
PublikacjaThe paper presents a method of incorporating decision maker preferences into multi-objective meta-heuristics. It is based on tradeoffcoefficients and extends their applicability from bi-objective to multi-objective. The method assumes that a decision maker specifies a priori each objective’s importance as a weight interval. Based on this, w-dominance relation is introduced, which extends Pareto dominance. By replacing reference...
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Sustainable investing exchange-traded funds: US and European market
PublikacjaThe key aim of the paper is to examine the diffusion of the sustainable investing exchange-traded funds (ETFs) on the European and US ETFs markets, with the special focus on the market shares of sustainable investing and conventional funds. The model of diffusion of innovation (logistic growth model) is applied. Monthly data on the assets of ETFs in the time period of 2006-2017 are used. Increasing assets of sustainable investing...
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Sustainable Investing. Socio-Economic Impacts of Exchange-Traded Funds
PublikacjaSustainable 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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EXCHANGE TRADED COMMODITIES AS A CATEGORY OF INNOVATIVE PRODUCTS ON EUROPEAN FINANCIAL MARKETS
PublikacjaThe article presents the main features of one category of innovative financial products – exchange traded commodities (ETCs) and results of the analysis of the European market for ETCs. ETCs are products listed and traded on the stock exchanges and they offer investors returns based on various assets (commodities or currencies). In contrast with the most widely recognized exchange traded funds (ETFs), ETCs are structured as debt...
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The Impact of Covid-19 on the Performance of Exchange Traded Funds on Developed and Emerging Markets
PublikacjaIn this paper an endeavour was made to evaluate the impact of Covid-19 on the achievement of the investment objectives by selected ETFs in developed and emerging markets. For this purpose, the tracking errors calculated for 18 different ETFs operating on the basis of American, Asian and European stock indexes were analyzed. The time range of the research was selected in such a way as to compare the period before the pandemic(pre-Covid)...
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COMPLEXITY OF INNOVATIVE FINANCIAL PRODUCTS: THE CASE OF SYNTHETIC EXCHANGE TRADED FUNDS IN EUROPE
PublikacjaThe aim of the text is the presentation of the most important categories of exchange traded funds (ETFs) – physical and synthetic ones. A theoretical part of the text includes an overview of the main features of ETFs, the presentation of differences between physical and synthetic funds and the main risks posed by both types to their users and the whole financial systems. An empirical part focuses on the European market. Time span...
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Application of Diffusion Models in the Analysis of Financial Markets: Evidence on Exchange Traded Funds in Europe
PublikacjaExchange traded funds (ETFs) are financial innovations that may be considered as a part of the index financial instruments category, together with stock index derivatives. The aim of this paper is to explore the trajectories and formulates predictions regarding the spread of ETFs on the financial markets in six European countries. It demonstrates ETFs’ development trajectories with regard to stock index futures and options that...
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Innovative investment funds and stability of financial systems: Nonparametric study of exchange-traded funds in Europe
PublikacjaThe main aim of the paper is investigation of the potential contribution of exchange-trade funds (ETFs) to the instability of the European financial systems. The paper begins with presentation of the key theoretical concepts with regard to ETFs and financial stability. We discuss the key attributes of ETFs as the innovative category of investment funds, their hypothesized impact on the financial stability as well as briefly describe...
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What drives sustainable investing? Adoption determinants of sustainable investing exchange-traded funds in Europe
PublikacjaDespite the growing interest in various topics related to sustainable (ESG) investing, some issues remain understudied, such as the determinants of their utilization at the macro level. This paper contributes to the state of knowledge two-directionally. First, it shows the development of sustainable investing exchange-traded funds (ETFs) in European countries. Second, it traces the significant determinants of adopting sustainable...
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Impact of Innovative Financial Products on Financial Systems: Exchange Traded Products and the Polish Financial System
PublikacjaExchange Traded Products (ETPs) are one of the most recent and most rapidly developing financial products. As their assets grow they have an increasing impact on financial systems in many countries, including USA, UK or Japan. Development of ETPs is linked with many opportunities and threats for the local financial systems. Their correct assessment is becoming more difficult due to the growing complexity of the available products,...
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Exchange-Traded Funds on European Markets: Has Critical Mass been Reached? Implications for Financial Systems.
PublikacjaExchange-traded funds (ETFs) are one of the most rapidly expanding categories of financial products in Europe. One of the key yet still unanswered questions is whether European ETF markets have reached the size at which they could affect the financial systems. In our study, we examine 13 European countries during the period 2004–2017 in order to trace whether the share of ETFs in the total assets of investment funds has reached...
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New technologies and diffusion of innovative financial products: Evidence on exchange-traded funds in selected emerging and developed economies
PublikacjaExchange-traded funds (ETFs) are one of the most rapidly-expanding categories of innovative financial products that have been introduced on many financial markets, in both emerging and developed economies. Our research contributes to the present state of knowledge by examining factors, including information and communication technologies (ICTs), influencing the diffusion of ETFs. In our research, we consider also the impact of...
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Tracing financial innovation diffusion and substitution trajectories. Recent evidence on exchange-traded funds in Japan and South Korea.
PublikacjaSince the rapid growth of the popularity of ETFs, the potential substitution between innovative financial products, exchange-traded funds (ETFs), and traditional investment funds (open-end and closed-end funds) is recognized as one of the most-discussed issues in the financial industry. This is the first study to empirically verify and compare the diffusion and substitution of ETFs using monthly data on their assets in two selected...
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Information and communication technologies versus diffusion and substitution of financial innovations. The case of exchange-traded funds in Japan and South Korea
PublikacjaThe substitution between financial innovations, exchange-traded funds (ETFs), and stock index derivatives (i.e. index financial instruments) is one of the relatively understudied topics of the financial sciences. The current study aims to verify empirically the diffusion and substitution of ETFs in the market for index financial instruments. It presents in-depth analysis of the development of index financial instruments traded...
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ICT technologies and financial innovations: The case of exchange traded funds in Brazil, Japan, Mexico, South Korea and the United States
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POLSKIE AKTYWA W ZAGRANICZNYCH FUNDUSZACH INWESTYCYJNYCH TYPU EXCHANGE-TRADED FUNDS: ROZMIARY, STRUKTURA ORAZ ZNACZENIE DLA POLSKIEGO SYSTEMU FINANSOWEGO.
PublikacjaExchange-traded funds (ETFs) są jedną z najszybciej rosnących kategorii funduszy inwestycyjnych. W pewnych krajach, takich jak Polska, nie nastąpił jednak rozwój tej grupy funduszy. Celem tekstu jest omówienie wybranych zagadnień teoretycznych związanych z wpływem ETFs na system finansowy oraz ocena możliwości wystąpienia tych oddziaływań w Polsce w odniesieniu do funduszy notowanych poza granicami Polski, które posiadają polskie...
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Empirical investigation on labour market interactions in an enlarged Europe
PublikacjaThis paper proposes an empirical assessment of economic interactions between the labour markets ofthe integrating EU over the period of time 1995-2005. Drawing on recently made available industrystatistics, we provide a sector level study (13 tradable sectors, including manufacturing and services),analysing the contemporary evolution of domestic and trade partners' employment levels. Given theintensification of trade relations...
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The importance of CEFTA 2006 for Western Balkan countries
PublikacjaFree foreign trade is one of the most important issues all over the world. The impact of bilateral trade can be studied both from economic as well as political perspectives; when it improves economic development, it also creates the conditions for international stability. The aim of the article is to conduct a comparison of the changes to export trade flow in the Central European Free Trade Agreement 2006, with reference to countries...
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Strategien der NSZZ Solidarność. Ein kurzer Abriss über bewährte Verfahrensweisen
PublikacjaDuring the recent years, the difficulties faced by trade unions to maintain their representation base and capacity to regulate employment relations have provoked numerous discussions. The issue of declining trade union membership, as well as density, has been repeatedly addressed by major trade unions including NSZZ “S”.
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Product diversification, relative specialisation and economic development: import-export analysis.
PublikacjaThis paper contributes to trade diversification literature by comparing changes in relative (i.e. assessed in comparison with world patterns) heterogeneity of import and export structures in the process of economic development. In particular, by focusing on the diversification of imports, we add a missing piece to already analysed export trends. We use highly disaggregated trade statistics (4963 product lines) for 163 countries...
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Relative product diversification in the course of economic development: import-export analysis.
PublikacjaThis paper contributes to trade diversification literature by comparing changes in relative (i.e. assessed in comparison with world patterns) heterogeneity of import and export structures in the process of economic development. In particular, by focusing on the diversification of imports, we add a missing piece to already analysed export trends. We use highly disaggregated trade statistics (4963 product lines) for 163 countries...
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Markthal Rotterdam as a contemporary continuation of nineteenth-entury market-halls' architectural ideas in Europe, 3rd International Multidisciplinary Scientific Conference, Social Sciences and Arts, Conference proceedings, book 4, Arts, Performing Arts, Architecture and design, Volume II, Vienna, Austria; pp. 391-398
PublikacjaIn the nineteenth century the reorganization of the European city local trading model resulted in the network of a series of newly constructed covered market halls. The large-format objects superseded the trade forms of previous streets and squares. In the second half of the twentieth century the panoply of the public trade markets was dominated by food super- and hypermarkets. It seemed that the era of old-time market halls,...
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A method of the UMTS-FDD network design based on universal load characteristics
PublikacjaIn the paper an original method of the UMTS radio network design was presented. The method is based on simple way of capacity-coverage trade-off estimation for WCDMA/FDD radio interface. This trade-off is estimated by using universal load characteristics and normalized coverage characteristics. The characteristics are useful for any propagation environment as well as for any service performance requirements. The practical applications...
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A proposal for a knowledge market based on quantity and quality of knowledge
PublikacjaThe paper proposes an autonomous market environment in which it is possible to trade knowledge based on its quantity and quality.
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The role of the One-Belt One-Road initiative in China's exports and global value chains
PublikacjaResearch 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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The spatial planning of industrial areas in an urbanized area for cargo, in the development of inland waterway transport
PublikacjaSpatial planning, taking into account the configuration of the surface, i.e. its shape (relief) and the presence and mutual location of objects and points of characteristic water ports, is a derivative of several natural, economic, market, technical, social and political factors. It depends on the destination port, the planned structure of trade in cargo, the forecasted traffic of ships, passageways, the technology of reloading...