The European Union and the whole world are facing problem of increasing income wealth inequalities at country regional levels. Inequalities a severe obstacle to sustainable balanced growth. Politicians perceive this by trying implement different types development models. cohesion policy is Union's response differences between countries regions. It clearly defined that has be inclusive, which reflected in objectives all leading EU strategies. aim paper (1) examine how effective reducing...

Inequalities in human capital most often affect other spheres of life. It is people who create innovation, so the unequal distribution and innovation regions leads to development disparities between regions. This, turn, a force inhibiting achievement higher levels prosperity at national level. The existing studies mainly focus on assessment countries. Although understandings mechanisms regional disparities, i.e., how whether are disappearing or widening under current socio-economic...

We apply random matrix theory to derive the spectral density of large sample covariance matrices generated by multivariate VMA(q), VAR(q) and VARMA(q1, q2) processes. In particular, we consider a limit where number variables N consecutive time measurements T are but ratio N/T is fixed. this regime, underlying asymptotically equivalent free (FRV). FRV calculus calculate eigenvalue for several VARMA-type explicitly solve VARMA(1, 1) case demonstrate perfect agreement between analytical result...

The category of human capital has increased in importance with the emergence theory 1960s. interest innovativeness is a result successive waves industrial revolutions and technical progress. article aims to estimate innovation Polish voivodeships 2004–2018 as an essential determinant socio-economic development emerging economies. regional dimension related rarely studied context. Additionally, main contribution paper that we propose extraordinary set variables capturing quantitative...

We show how random matrix theory can be applied to develop new algorithms extract dynamic factors from macroeconomic time series.In particular, we consider a limit where the number of variables N and consecutive measurements T are large but ratio N/T is fixed.In this regime underlying matrices asymptotically equivalent Free Random Variables (FRV).Application these methods for indicators Poland economy also presented.

We study mechanisms leading to wealth condensation. As a natural starting point, our model adopts neoclassical point of view, i.e., we completely ignore work, production, and productive relations, focus only on bilateral link between two randomly selected agents. propose simple matching process with deterministic trading rules random selection Furthermore, also neglect the internal characteristic traded goods analyse relative changes each agent. This is often case in financial markets, where...

Portfolio theory is a very powerful tool in the modern investment theory. It helpful estimating risk of an investor's portfolio, which arises from our lack information, uncertainty and incomplete knowledge reality, forbids perfect prediction future price changes. Despite many advantages this not known widely used among investors on Warsaw Stock Exchange. The main reason for abandoning method high level complexity immense calculations. aim paper to introduce automatic decision - making...

The crisis has shown that a drop in liquidity, as well the shortened maturity of interbank transactions, caused many problems for banks. We analyze how introduction bank levy on assets Poland affected market, money market pricing. Analyzing daily volume and number along with quotes, we document significantly reduced trading intensity shortening transactions. also find it increased dispersion quotes short-term while at same time “killing” long-term including pricing this market. regulators...

In this paper we present a novel perspective dedicated for sparse high-dimensional data sets, i.e. which contain many zeros among coordinates of observations. Using jointly, selected methods recently proposed in multivariate statistics, and kernel density framework discrete data, outline general bringing out useful information from big economic databases. As our considerations take the so-called functional analysis, originates Ramsay Silverman works. particular use principal components...

Objective: The objective of the article is identification and assessment labour market operation efficiency stability matching mechanisms from microstructure perspective dynamics via relationship between distortions in level slope Beveridge curve. We studied US identified potential structural changes job mechanisms. long-term curve suggested that underlying unemployment matched market's elasticity response to vacancies. Research Design & Methods: main design our was a quantitative analysis...

Non-symmetric rectangular correlation matrices occur in many problems economics.We test the method of extracting statistically meaningful correlations between input and output variables large dimensionality build a toy model for artificially included random time series.The results are then applied to analysis polish macroeconomic data can be used as an alternative classical cointegration approach.

Abstract Shang and Hyndman (2017) proposed a grouped functional time series forecasting approach as combination of individual forecasts obtained using the generalized least squares method. We modify their methodology exponential smoothing technique for most disaggregated in orderto obtain more robust predictor. discuss some properties our proposals based on results via simulation studies analysis real data related to prediction demand electricity Australia 2016.

We study wealth rank correlations in a simple model of macroeconomy. To quantify between rankings at different times, we use Kendall’s τ and Spearman’s ρ, Goodman–Kruskal’s γ, the lists’ overlap ratio. show that dynamics flow speed reshuffling ranking list depend on parameters controlling exchange rate growth volatility. As an example rheology real data, analyze lists richest people Poland, Germany, USA world.