Rafał Kasperowicz

Economic Growth and Energy Consumption in 12 European Countries : a Panel Data Approach

Q e paper investigates the relationships between energy consumption and economic growth for 12 European countries over 13 years using data for the sample period of 2000 to 2012. Understanding the relationships of energy consumption in relation to the economy is very important task to ensure a stable economic development. Q e hypothesis of the study says that there is a positive relationship between energy use and economic growth. Q e estimation of GDP equation indicated that that the energy consumption is positive related to the economic growth. Q e evaluated regression model includes growth rates of Energy Consumption and growth rates of Gross Fixed Capital in real prices. Q e analysis let to state that in the analyzed countries energy consumption is not neutral to economic growth. Furthermore, the applied modeling pointed the individual growth rate e[ ect of GDP for every country, that was not captured by the estimated model.

Electricity Consumption and Economic Growth : Evidence from Poland

Th e paper investigates the relationship between electricity consumption and economic growth in Poland for the period 2000 to 2012. Understanding the behavior of electricity consumption in relation to the economy is very important for improve a stable economic growth and development. Th e obtained results indicate that there is the causal relationship between electricity consumption and economic growth in Poland and the relationship is bi-directional. We also discovered the bi-directional causality between capital and economic growth. On the basis of the causality results we estimated a one-sector aggregate production function, where the electricity consumption was one of the input variables. Th e evaluated growth model showed that electricity consumption is a pro-growth variable, so the results indicate that economic growth of Poland is electricity-dependent. Th at’s allows to state that electricity is a limiting factor to economic growth of Poland.

Reengineering of Electricity Market Monitoring

DOI: 10.14254/2071789X.2017/10-4/14 ABSTRACT. The main goal of this paper is to present new indices and a new structure of the electricity market monitoring system. The proposed structure, along with the analytical methods and indices applied to this structure, could be used from the viewpoint of both market operator and market participants. This paper also describes, in a rather simplified manner, the algorithms of market monitoring on the case study of Spanish electricity market.

The Causality Relationships between Energy Variables and Sold Industrial Output in Polish Economy

Considering that energy is a very important source of industrial production, because production does not exist without energy, there are some significant relations between the use of energy and industrial production. The aim of this paper is to identify the causality relationships between the sold industrial output of Poland and variables describing energy consumption or energy sources. Another aim is to estimate a SIO (sold industrial output) equation. According to it the time-series underwent adjustment procedure Census X11 and Hodrick-Prescott’s filter. In this way fluctuations of time series were obtained. The procedure of seeking for the relationships between SIO and variables describing energy use was conducted by Granger causality analysis. Series selected by the causality relationship test were used to estimate SIO equation. Submitted: August, 2011 1st revision: September, 2011 Accepted: September, 2011

Cyclical Fluctuations of Residentail Market in Wrocław

Rafal Kasperowicz Department of Microeconomics Poznan University of Economics CYCLICAL FLUCTUATIONS OF RESIDENTAIL MARKET IN WROCŁAW Radoslaw Trojanek Departament of Investment and Real Estate Poznan University of Economics ABSTRACT. The main aim of the paper is to identify price fluctuations on the secondary housing market in the years 1996-2009 in Wroclaw. The subject scope results from the aim of the paper and includes price fluctuations on the secondary housing market, involving both property rights and cooperative property rights for private accommodation. Received: July, 2010 1st Revision: September, 2010 Accepted: October, 2010

Modeling the power of renewable energy sources in the context of classical electricity system transformation

Many regions, not only in the Europe, introduce plans for the modernization of energy systems so that in a few or several years most of the demand for electricity was being able to cover using renewable energy sources. The aim of this paper is to present the possibility of estimation of appropriate power supply based on the renewable energy sources in the context of the whole energy system in the annual balance, taking into account the technical and the economic optimization strategies. The article presents also the simplified structure of the 100% renewable energy system supported by energy storage systems and the production of synthetic fuels.

Industrial Business Cycle And The Cyclical Fluctuations Of Sold Industrial Output According To Pac

The first aim of the paper is to identify business cycle in the Polish industry and in departments of the industry according to PAC . The second aim is the re-examination of the co-variability between the calculated fluctuations. When identifying the fluctuations, first one has to purify the time-series of incidental and seasonal fluctuations. According to that the time-series underwent adjustment procedure of seasonal correction Census X11. This way Henderson’s curves which reflect trends and seasonal fluctuations at the same time were obtained. The next step was to state the values of trends. To establish these values the method of stochastic trend estimation, which is called Hodrick-Prescott’s filter was used.? Dividing empirical values of Henderson’s curves by the implementation arising from a use of HP we get (after multiplying by 100) a series showing percentage deviations form the trend line, which means seasonal fluctuations.The plan of the paper is as follows: introduction, section 1 definition of business cycle and data, section 2 with econometric methodology, section 3 with empirical analysis, and the conclusions.

Identification of Industrial Cycle Leading Indicators Using Causality Test

The biggest business activity fluctuation analysts’ attention is focused on leading indicators. It is due to their utility in forecasting resulting form their properties. Leading indicators are aggregates describing a part of economy (e.g. sector, branch) and, therefore, they also partly anticipate new behaviours of the whole of the economy. The first aim of the paper is to identify industrial business cycle leading indicators in Poland. The second aim is to estimate a leading index of cyclical fluctuations of industry. When identifying the fluctuations, first one has to purify the time-series of incidental and seasonal fluctuations. Then, the time-series underwent the adjustment procedure Census X11 and Hodrick-Prescott’s filter. This is the way in which the cyclical fluctuations of the time-series were obtained. Seeking variables determining leading indicators of the reference variable was conducted on the basis of Granger causality analysis. Series selected in that way were used to create a forecasting econometric model (leading index).

Forecasting Fluctuations of Sold Industrial Production in Poland on the Basis of Electricity Demand

Abstract. The plan of the paper is as follows: introduction, section 1 with the data and econometric methodology, section 2 with empirical analysis and the model, and the conclusions. Two independent equations have been estimated. Results show that significant leading time series of sold industrial production are electricity demand in four industrial sectors: production of string mass and paper, cars and metal final goods and production of machines and electric devices.