Managerial Economics

Digitization is a megatrend that strongly influences organisations and is reflected in all business processes and operational functions. It is therefore not surprising that controlling is also affected by digitization. This paper first defines and explains the key sub-processes of controlling and describes the traditional role and tasks of controllers that are derived from this. Next, selected technologies such as the internet of things, big data, cloud computing and artificial intelligence are described in detail and their influence on controlling and the role of the controller is analysed. It is shown that digitization is already having a significant impact on controlling and still holds considerable potential for the future. This will also lead inevitably to a continuous refinement of the role and tasks of controllers, whereby they will have to further expand their knowledge and skills in the future.

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The impact of markups and wages on changes in the level of inflation in Poland

(Wydawnictwa AGH, 2023) Kosztowniak, Aneta

This paper analysis of the impact of markups and wages of enterprises on changes in the level of inflation in Poland in the years 2007–2022. The impact of markups and wages on changes in CPI were assessed using the VECM model, the impulse responses, and the variance decomposition. The results indicate that industrial sector, including the mining and quarrying section, showed the highest dynamics of changes in markups and wages. In the years 2005–2022, the impact of markups on changes in CPI was stronger, although it was losing importance, with a weaker but growing impact of wages. Forecasts of the degree of clarification of the CPI in Poland indicate a greater importance of markups, with the impact of wages weaker by half, but growing over time. The paper extends the state of theoretical and empirical studies on the determinants of the CPI and the inflation expectations. It also considers the context of persistent exogenous and endogenous shocks from the COVID-19 pandemic and the war in Ukraine, and changes in demand and supply impulses. The results of this study may be valuable as a contribution

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The relationship between the inflation rate and the unemployment rate in Poland and their long-term associations with selected macroeconomic variables

(Wydawnictwa AGH, 2023) Koterwa, Jan; Kycia, Hubert; Czapkiewicz, Anna

The purpose of this paper is to examine the relationship between the inflation and unemployment rates in Poland and to analyze their long-term relationships with selected macroeconomic variables: the WIG20 index, consisting of the 20 largest Polish companies noted on Warsaw Stock Exchange, the USD/PLN exchange rate, the Brent crude oil index, and the interest rate on 10- year government bond yields. The main objective of the study is to determine the relationship between inflation and unemployment. In this study, a vector error correction model (VECM) was used to study long-run dependence. The impulse response function and forecast error variance decomposition were also used to examine the interactions between variables. There is one long-run relationship between the factors studied. Both the values of the VECM model parameters and the results of the impulse response function indicate that there is a negative relationship between inflation and unemployment in the short term. In the long term, there is a positive relationship, resulting in the stagflation phenomenon.

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Literature review. Pricing rule alternatives for the European day-ahead market

(Wydawnictwa AGH, 2023) Weißensteiner, Felix

This literature review delves into the intricate realm of pricing rules in the day-ahead electricity market, spurred by a notable surge in 2022 electricity prices. Employing a comparative analysis of uniform pricing (UP), discriminatory pricing (DP), and the Vickrey–Clarke–Groves (VCG) pricing rule, the study navigates the complexities of these mechanisms. The evaluation unveils contrasting perspectives: the political push for consumer-friendly low prices versus the efficiency aspiration for a self-regulating market. DP, minimizing average prices but increasing volatility, and VCG, excelling in productive efficiency, are pitted against UP, the prevailing yet imperfect norm. The findings underscore the nuances of each rule"," DP leads to reduced average prices and heightened volatility, while VCG ensures superior productive efficiency. Despite UP’s simplicity, it prompts inefficiencies and political costs. These insights illuminate the pivotal choice faced by policymakers, balancing efficiency, fairness, and market sustainability.

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Managerial Economics

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