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Central European Journal of Economic Modelling and Econometrics最新文献

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Analyzing the Threshold Impact of Public Debt on Economic Growth: an Investigation of the New Member States within the European Union 分析公共债务对经济增长的临界影响：对欧盟新成员国的调查
IF 0.5
Central European Journal of Economic Modelling and Econometrics Pub Date : 2024-07-09 DOI: 10.24425/cejeme.2024.151363
Burim Gashim, Gazmore Rexhepi
{"title":"Analyzing the Threshold Impact of Public Debt on Economic Growth: an Investigation of the New Member States within the European Union","authors":"Burim Gashim, Gazmore Rexhepi","doi":"10.24425/cejeme.2024.151363","DOIUrl":"https://doi.org/10.24425/cejeme.2024.151363","url":null,"abstract":"This paper aims to analyze the impact of public debt on economic growth in eleven EU new member states (NMS) from Central and South-Eastern Europe for the period 2000-2019. More specifically, we investigate if there is evidence of a non-linear (quadratic) relationship in this group of countries. Having in mind different economic and financial development, historical connections, and geographical proximity, we split them into three more homogenous groups: Balkan countries (BAL-4), Baltic countries (B-3), and Visegrad countries (VIS-4). The results of our study in all models indicate a statistically significant non-linear impact of public debt ratios on annual GDP per capita growth rates. The results across all models show a significant non-linear impact of public debt ratios on annual GDP per capita growth rates. Further, the calculated debt-to-GDP turning point, where the positive effect of accumulated public debt inverts into a negative effect, is roughly between 42.7%-58% of GDP, dependent on which sub-group we have analyzed. In general, the research may contribute to a better understanding of the problem of high public debt and its effect on economic activity in the new EU.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141664251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does Inflation Matter? The Influence of Perceived Price Changes on Well-being 通货膨胀重要吗？感知价格变化对福祉的影响
IF 0.5
Central European Journal of Economic Modelling and Econometrics Pub Date : 2024-07-09 DOI: 10.24425/cejeme.2024.151365
Łukasz Below
{"title":"Does Inflation Matter? The Influence of Perceived Price Changes on Well-being","authors":"Łukasz Below","doi":"10.24425/cejeme.2024.151365","DOIUrl":"https://doi.org/10.24425/cejeme.2024.151365","url":null,"abstract":"We confirm the inflation and well-being correlation scheme while filling the gap in the literature and estimating the effects of inflation perception on wellbeing. We discover the significant heterogeneity in attitudes toward inflation and inflation perception among European countries. While the inflation perception influence on well-being in Eastern Europe is higher than the influence of HICP, for Western Europe, it is the opposite. Both groups differ in terms of the marginal rate of substitution between inflation and unemployment – the effects of higher unemployment are more severe in comparison to the influence of inflation in Western Europe.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141664412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Ownership Structure and Firm Performance. A Panel Regression Study from Poland 所有权结构与公司业绩。波兰的面板回归研究
IF 0.5
Central European Journal of Economic Modelling and Econometrics Pub Date : 2024-07-09 DOI: 10.24425/cejeme.2024.151364
Andrzej Gryko, Jakub Cierocki, Konrad Celer
{"title":"Ownership Structure and Firm Performance. A Panel Regression Study from Poland","authors":"Andrzej Gryko, Jakub Cierocki, Konrad Celer","doi":"10.24425/cejeme.2024.151364","DOIUrl":"https://doi.org/10.24425/cejeme.2024.151364","url":null,"abstract":"This paper explores the relationship between ownership structure and firm performance, using the framework of agency theory. Given a sample of 126 Polish non-financial firms listed on the Warsaw Stock Exchange between 2016-2021, we applied fixed and random effects panel regressions with robust standard errors, tested for specification, endogeneity, cross-sectional heteroskedasticity, and serial autocorrelation. Our models identify several significant associations of adopted ownership structures with firm performance measured by accounting and market-based measures. We find that ownership concentration by the largest shareholder is negatively related to enterprise market-measured performance. Additionally, our results indicate the significance of shareholder heterogeneity.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141663467","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Equilibrium in Economy with Linear Production Sets 线性生产集经济中的均衡
IF 0.2
Central European Journal of Economic Modelling and Econometrics Pub Date : 2023-12-28 DOI: 10.24425/cejeme.2023.149070
A. Lipieta, †. MariaSadko
{"title":"Equilibrium in Economy with Linear Production Sets","authors":"A. Lipieta, †. MariaSadko","doi":"10.24425/cejeme.2023.149070","DOIUrl":"https://doi.org/10.24425/cejeme.2023.149070","url":null,"abstract":"Arrow and Debreu proved that, if in the mathematical model of the economy that they defined some conditions are satisfied, then there is a price system under which there is Walras equilibrium in this economy. We examine a procedure, defined on the basis of a continuous mapping, of transformation of production sets of the Arrow-Debreu economies in which at least one of the assumptions concerning the production sets is not satisfied. Finally, we get a class of Arrow-Debreu economies in which, after modification, there is Walras equilibrium. The research methods are based on the analysis of the linear mappings in real vector space of finite dimension, and the results have the form of mathematical theorems.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.2,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139148639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Procyclicality of Bank Growth and Competitive Environment: Cross-country Evidence 银行增长的顺周期性与竞争环境：跨国证据
IF 0.2
Central European Journal of Economic Modelling and Econometrics Pub Date : 2023-12-28 DOI: 10.24425/cejeme.2023.149071
Małgorzata Olszak, †. IwonaKowalska
{"title":"Procyclicality of Bank Growth and Competitive Environment: Cross-country Evidence","authors":"Małgorzata Olszak, †. IwonaKowalska","doi":"10.24425/cejeme.2023.149071","DOIUrl":"https://doi.org/10.24425/cejeme.2023.149071","url":null,"abstract":"This paper attempts to find out what is the role of competitive environment in shaping the sensitivity of growth in banking to the business cycle . To answer this question, we apply a large set of individual bank level data including over 8000 banks operating in more than 100 countries. This study uses the growth of assets, loans, deposits and leverage as proxies of bank growth and Lerner index as a proxy for the competitive environment. The analysis shows that decreased competition is associated with increased procyclicality of bank growth. However, in a perfectly competitive environment the growth turns out to be countercyclical. This effect differs between high-and low-income countries. A perfectly competitive environment is associated with countercyclical growth in high-income countries. The opposite result is found for low-income countries. Our results for Central Eastern European countries show that increased competition is associated with enhanced procyclicality of growth.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.2,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139149801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How Regional Business Cycles Diffuse through Space and Time: Evidence from Spatial Markov Model of Polish NUTS-3 Regions 地区商业周期如何在空间和时间中扩散：波兰 NUTS-3 地区空间马尔可夫模型的证据
IF 0.2
Central European Journal of Economic Modelling and Econometrics Pub Date : 2023-12-28 DOI: 10.24425/cejeme.2023.149072
{"title":"How Regional Business Cycles Diffuse through Space and Time: Evidence from Spatial Markov Model of Polish NUTS-3 Regions","authors":"","doi":"10.24425/cejeme.2023.149072","DOIUrl":"https://doi.org/10.24425/cejeme.2023.149072","url":null,"abstract":"","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.2,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139148890","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
List of Referees 推荐人名单
Central European Journal of Economic Modelling and Econometrics Pub Date : 2023-11-06 DOI: 10.24425/cejeme.2022.144204
{"title":"List of Referees","authors":"","doi":"10.24425/cejeme.2022.144204","DOIUrl":"https://doi.org/10.24425/cejeme.2022.144204","url":null,"abstract":"","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135679693","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Can Emerging Countries Mitigate the Effect of Original Sin Problem in Achieving External Debt Sustainability? 新兴国家能否缓解原罪问题对实现外债可持续性的影响?
Central European Journal of Economic Modelling and Econometrics Pub Date : 2023-10-02 DOI: 10.24425/cejeme.2023.147911
{"title":"Can Emerging Countries Mitigate the Effect of Original Sin Problem in Achieving External Debt Sustainability?","authors":"","doi":"10.24425/cejeme.2023.147911","DOIUrl":"https://doi.org/10.24425/cejeme.2023.147911","url":null,"abstract":"Due to the spike in inflation, the implementation of easy monetary and fiscal policies since the pandemic appears to be coming to an end. The shift towards tighter policies raises concerns about debt sustainability in developing countries, particularly due to the challenge of the “original sin” problem. Given these premises, to analyze debt sustainability for emerging countries, this study focuses on foreign exchange revenue capability and employs external debt-creating (imports, reserves and interest payments) and reducing variables (exports, reserve return and net transfers) for 1995-2020. The results of this panel cointegration estimation for 15 EMDE countries are 0.74 and 0.70 for CCEMG and AMG estimators respectively which indicates moderate sustainability as whole sample countries. However, the individual estimators vary widely for each individual country from weak to strong sustainability.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135791441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Endogeneous Structural Change in General Equilibrium 一般平衡中的内生性结构变化
Central European Journal of Economic Modelling and Econometrics Pub Date : 2023-10-02 DOI: 10.24425/cejeme.2023.147909
{"title":"Endogeneous Structural Change in General Equilibrium","authors":"","doi":"10.24425/cejeme.2023.147909","DOIUrl":"https://doi.org/10.24425/cejeme.2023.147909","url":null,"abstract":"We study the evolution of income and wealth inequality in an economy undergoing endogenous structural change with imperfect labor mobility. Our economy features two sectors: services and manufacturing. With faster TFP growth in manufacturing, labor reallocates from manufacturing to services. This reallocation is slower due to labor mobility frictions, which in turn, raises relative wages in services. As a result, income inequality is higher. Moreover, we study the impact of structural change on wealth inequality. Its economic intuition is more ambiguous. On the one hand, increased income dispersion implies increased dispersion in the ability to accumulate wealth across individuals. On the other hand, younger workers who hold the least assets are the most mobile across sectors. Their incomes are improved, which boosts their savings, which works towards equalizing wealth distribution. The consequence of these changes can only be verified with a computational model. To this end, we construct an overlapping generations model with two sectors: manufacturing and services. Our model also features heterogeneous individuals. With our model, we are able to show how the structural change affected the evolution of income and wealth inequality in Poland as of 1990.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135791443","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Measuring the Illness-Related Absenteeism — Can Bradford Factor Approximate the Indirect Cost of Illness? 衡量与疾病相关的旷工——布拉德福德因子能否近似疾病的间接成本?
Central European Journal of Economic Modelling and Econometrics Pub Date : 2023-10-02 DOI: 10.24425/cejeme.2023.147910
{"title":"Measuring the Illness-Related Absenteeism — Can Bradford Factor Approximate the Indirect Cost of Illness?","authors":"","doi":"10.24425/cejeme.2023.147910","DOIUrl":"https://doi.org/10.24425/cejeme.2023.147910","url":null,"abstract":"In the management of human resources, the absences are monitored with Bradford Factor (BF) using the number and length of sick leaves. The sick leaves are also measured in health technology to assess the impact of health technologies on product loss, aka indirect cost (IC). Linking the BF and IC might promote BF as an outcome measure and facilitate the estimation of IC. We simulate a single company operation in several scenarios describing the firm’s functioning and adjustments to workers’ absence. We measure the BF and the IC due to absence and relate them with econometric modelling. Results show that BF and IC are associated in a non-linear way; hence, IC cannot be calculated from BF in a simple manner. The association is strongest for possibility to adjust to worker’s absence, and a high elasticity of substitution between workers. Therefore, the possibility to proxy IC by BF is rather limited.","PeriodicalId":9951,"journal":{"name":"Central European Journal of Economic Modelling and Econometrics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135791442","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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