This paper examines the influence of related variety (RV) and unrelated variety (UV) on the basic variables of the labour market, i.e.: employment growth rates, increase in unemployment rates and ...real gross wages in the regional approach in Poland. The basic difference between the presented and the current research in this area is that the RV and the UV are introduced into the estimation taking into account the basic determinants of the analysed labour market variables resulting from simple economic models. Moreover, an attempt was made to determine the impact of the RV and the UV on real gross wages, which was not covered in the literature. The research was based on panel data for 16 Polish voivodships (NUTS2) and in the group of regions of Western Poland in the years 2004-2017 using SYS-GMM estimator of Dynamic Panel Data Model. In this paper, a significant positive impact of the RV on the rate of employment growth and wages was found, as well as a negative correlation between the RV and the increase in unemployment rates. On the other hand, the UV positively determined the increase in unemployment rates.
In 1956, Solow proposed a neoclassical growth model in opposition or as an alternative to Keynesian growth models. The Solow model of economic growth provided foundations for models embedded in the ...new theory of economic growth, known as the theory of endogenous growth, such as the renowned growth models developed by Paul M. Romer and Robert E. Lucas in the 1980s and 90s. The augmentations of the Solow model described in this book, excepting the Phelps golden rules of capital accumulation and the Mankiw-Romer-Weil and Nonneman-Vanhoudt models, were developed by the authors over the last two decades. The book identifies six spheres of interest in modern macroeconomic theory: the impact of fiscal and monetary policy on growth; the effect of different returns to scale on production; the influence of mobility of factors of production among different countries on their development; the effect of population dynamics on growth; the periodicity of investment rates and their influence on growth; and the effect of exogenous shocks in the form of an epidemic. For each of these issues, the authors construct and analyze an appropriate growth model that focuses on the description of the specific macroeconomic problem. This book not only continues the neoclassical tradition of thought in economics focused on quantitative economic change but also, and to a significant extent, discusses alternative approaches to certain questions of economic growth, utilizing conclusions that can be drawn from the Solow model. It is a useful tool in analyzing contemporary issues related to growth.
In the article the authors attempted to develop the neoclassical model of economic growth, repealing two assumptions regarding the Solow growth model. First of all, the authors assume that the growth ...path of the number of employees is increasing asymptotically to a fixed value, not to infinity as in the Solow model. The growth paths of the number of employees were determined based on demographic forecasts and the economic activity coefficient, which in the paper is understood as the ratio of the number of employees to the number of people. Secondly, the authors repeal the assumption of a fixed investment rate by taking into account the trend of changes in investment rates (a growing or declining trend). The theoretical model obtained was subjected to calibration and then numerical simulations were carried out. It was assumed that investment rates in the Polish economy decrease (from 25 to 15%) or grow (from 15 to 25%). Numerical simulations were based on demographic forecasts for the Polish economy up to 2050. Moreover, two scenarios for shaping the economic activity coefficient were considered: realistic one when in the period 2000-2050 it increased from 0.38 to 0.5. In the second scenario, it was optimistic that the increase would be 50% higher than in the first option and in 2050 it would reach 0.56. Important conclusions from the study can be presented as follows: (i) the population decline can be offset by the growing economic activity rate and therefore does not have a negative impact on economic growth, (ii) the negative impact of demographic changes on economic growth can also be offset by growing investment rates.
The year 2020 went down in economic history due to the dramatic and drastic changes in economic and social conditions that resulted from the outbreak of the global pandemic of COVID-19. This book ...offers a multi-level narrative about the pandemic, written from national and international perspectives, enabling the authors to construct several macro- and mega-scenarios. The book consists of six chapters. Four of them discuss the process of the COVID-19 pandemic caused by the SARS-CoV-2 virus in Europe in 2020, i.e. the directions and dynamics of the spread and its socioeconomic consequences, and provide a comparative analysis of fiscal and monetary packages employed by Europe, with an emphasis on Eastern European countries. The remaining two chapters contain forecasts and scenarios. The fifth chapter, dedicated to forecasts, provides readers with a comprehensive description of possible consequences of any epidemic leading to severe social losses such as high percentages of infected and dead, limited interpersonal contacts as a result of lockdown, a lowered level of general individual and social well-being, as well as economic losses, for example a decline in production as a result of the collapse of aggregate demand and a reduction in the supply capacity of the economy, consequently slowing down the pace of capital accumulation. The sixth, final chapter describes possible scenarios of the spread of the pandemic in Poland and Ukraine, depending on measures taken by the governments of those countries. The Socioeconomic Impact of COVID-19 on Eastern European Countries is designed as a practical reference for scholars, researchers and policymakers.
In 1956, Solow proposed a neoclassical growth model in opposition or as an alternative to Keynesian growth models. The Solow model of economic growth provided foundations for models embedded in the ...new theory of economic growth, known as the theory of endogenous growth, such as the renowned growth models developed by Paul M. Romer and Robert E. Lucas in the 1980s and 90s. The augmentations of the Solow model described in this book, excepting the Phelps golden rules of capital accumulation and the Mankiw-Romer-Weil and Nonneman-Vanhoudt models, were developed by the authors over the last two decades. The book identifies six spheres of interest in modern macroeconomic theory: the impact of fiscal and monetary policy on growth; the effect of different returns to scale on production; the influence of mobility of factors of production among different countries on their development; the effect of population dynamics on growth; the periodicity of investment rates and their influence on growth; and the effect of exogenous shocks in the form of an epidemic. For each of these issues, the authors construct and analyze an appropriate growth model that focuses on the description of the specific macroeconomic problem. This book not only continues the neoclassical tradition of thought in economics focused on quantitative economic change but also, and to a significant extent, discusses alternative approaches to certain questions of economic growth, utilizing conclusions that can be drawn from the Solow model. It is a useful tool in analyzing contemporary issues related to growth.
Autorzy w niniejszym artykule podejmują próbę oszacowania łącznej produktywności czynników produkcji (TFP) oraz analizują jej przestrzenne zróżnicowanie na poziomie wybranych grup powiatów w Polsce w ...latach 2003–2014. Ze względu na niemierzalność analizowanej zmiennej TFP oszacowano, opierając się na makroekonomicznej funkcji produkcji Cobba–Douglasa. Jednakże aby wyznaczyć TFP, w pierwszej kolejności autorzy dokonali dezagregacji PKB z poziomu województw na poziom powiatów. Analizę prowadzono w trzech zaproponowanych grupach: grupie powiatów grodzkich, grupie powiatów ziemskich o charakterze miejskim oraz w grupie powiatów ziemskich o charakterze wiejskim, dopuszczając zróżnicowanie elastyczności wydajności pracy względem technicznego uzbrojenia pracy w każdej z analizowanych grup.
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