Aim of the research is an analysis of the mechanism of transmission of the disturbances caused by the supply or price shocks in such economic systems as the supply chains, linked markets, etc. The interest of the study is focused on the propagation of shocks in the complex systems with...

Policy analysis with a dynamic CGE model requires a baseline solution that is a plausible forecast of the whole set of model's variables. An important issue in the development of the baseline forecast is to account for structural change. This is aided by the technique of historical simulations...

The aim of the work and our study is to determine the degree of development of Polish sustainable of the agricultural sector. Models SEM, in our study, are used to describe the relationship between there macro-aggregates that occur in sustainable system: sustainable economic, sustainable...

I estimate the elasticity of substitution between capital, labour and energy in Central and Eastern European countries to make CGE models more accurate. The CGE models often use elasticity of substitution of production factors estimated for another countries or average of elasticities taken from...

The EU Climate and Energy Package has recently became a hot topic in Poland due to the fact that the first important emission reductions will be introduced in 2013. Moreover, Polish economy is relatively CO2 intensive, as most of the electricity and heat generation is based on coal and some of...

Considering the wide range of CPI applications in the economy, the accuracy of estimating changes in an average price of a consumer basket of goods attracts the attention of many economists. How the index of consumer prices is calculated is not, as it might seem, a merely statistical problem....

There is vast literature examining how households’ income and consumption changes over the life cycle. These studies, however, are usually restricted to developed economies, such as the US, Japan or the UK. The general objective of this paper is to add to this literature by investigating life...

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The global economic and financial crisis (2008-2009) showed that growing sectoral imbalances (for example, too much housing investment) and financial risks (for instance,excessively leveraged financial institutions, excess household indebtedness, excess maturity mismatches in the banking system,...

The purpose of this paper is to examine the mean and volatility spillovers effects from a global factor US (GF US) stock market, regional factor Europe (RF EU) stock market and as the world factor oil price (WF Oil) changes on the eight European emerging and developing countries from September...