Impact of Food Industry Markups on Sectorial Business Cycle and Food Inflation in Poland
Journal Title: Acta Scientiarum Polonorum. Oeconomia - Year 2017, Vol 0, Issue 0
Abstract
The main goal of this paper was to examine relationships between markups, output, and food inflation in the Polish food sector in the period 2000–2013. Levels of the monopolistic markups were calculated as an inversed labor share in the output value with a modification regarding overhead labor, whereas value of production was used as an indicator of sectorial business cycle. In order to analyze the relationships in question such methods as cross-correlations, Granger test, and VAR analysis were employed. It turned out that markups have behaved procyclically regarding the sectorial business cycle, and can be regarded as a lagged indicator for output and as a predictor for food inflation. A positive impact of the markups on the food inflation is likely to be one of the reasons for relatively weak joint changes of output and inflation, what may affect responses of the Polish economy to the monetary policy measures.
Authors and Affiliations
Szczepan Figiel, Mariusz Hamulczuk, Justyna Kufel-Gajda
Keywords
Related Articles
- EP ID EP313281
- DOI 10.22630/ASPE.2017.16.4.43
- Views 66
- Downloads 0
Smart Specialization as a Way of Strengthening the Innovation Potential of Regions
The subject of the work is the concept of smart specialization adopted in the European Union in 2010 and particularly its implementation in Poland. The aim of this work is to identify and present the concept of smart spe...
Innovativeness of European Regional Space : Convergence or Divergence?
The aim of the article is to assess the convergence of innovativeness in European regions at the NUTS-2 level. In the first part of the work, the concept of region’s innovativeness is defined and methods of its measureme...
The Analysis of Global Brands - a Comparative Study Poland - Slovakia - Hungary
The empirical research results, which aim was to define the degree of awareness of the leading global brands, have been presented in the following article. The fundamental research material has been acquired thanks to di...
Innovation Activities of Industrial Enterprises in Poland in the Light of Public Statistics
Intensive promotion of innovative activities, especially in companies, has forced the creation of international monitoring systems. In Poland, the Central Statistical Office [GUS] and the Statistical Office [US] in Szcze...
Determinants of Entrepreneurship Development in the Opinion of the Authorities of Rural and Semi-Urban Municipalities in Warmińsko-Mazurskie Voivodeship
The paper presents opinions of local government authorities on determinants of local entrepreneurship development. The research conducted in 2017 in rural and urban-rural municipalities of Warmińsko-Mazurskie Voivodship...