Managerial Economics
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ISSN 1898-1143
e-ISSN: 2353-3617
Issue Date
2025
Volume
Vol. 26
Number
No. 1
Description
Journal Volume
Managerial Economics
Vol. 26 (2025)
Projects
Pages
Articles
Price and income elasticities of fruit demand in Poland: Evidence from Household Budget Data
(Wydawnictwa AGH, 2025) Madej, Amelia; Wolak, Jacek
The aim of this article is to provide an empirical analysis of fruit demand in Polish households using the QUAIDS model. Based on unit-level data from the 2022 Household Budget Survey conducted by Statistics Poland (GUS), income and price elasticities were estimated for six fruit categories: citrus fruits, bananas, apples, berries, stone fruits, and other fruits. The estimation employed the two-step procedure developed by J.S. Shonkwiler and S.T. Yen, accounting for demographic variables and the issue of zero expenditures. The results indicate high sensitivity of fruit demand to changes in both prices and income, particularly for imported fruits. The article provides recommendations for public policy aimed at supporting the domestic fruit market and promoting healthy dietary habits.
The impact of macroeconomic measures on the valuation of listed equity in the US. Insights from high inflation periods
(Wydawnictwa AGH, 2025) Novak, Dominik
While the relationship between stock prices and macroeconomic indicators in the US has been widely examined, conflicting findings in the empirical literature suggest the presence of nonlinear dynamics that remain insufficiently explored. Following the work of A. López-Villavicencio and V. Mignon (2011), and A. Brick and D. Nautz (2008), inflation rates above a threshold level of 3% to 5% are associated with significant adverse effects on economic stability and stock market volatility. Therefore, there is a notable gap in the literature regarding the interactions between macroeconomic measures and stock prices during periods of elevated inflation, focusing on potential threshold effects. This study examines these relationships using monthly data from August 1973 to August 1982, representing High-Inflation Period 1, and from January 2021 to June 2024, representing High-Inflation Period 2. The analysis compares the direction and magnitude of the relationships across both periods. The results confirm that hedging against price level increases is a stronger determinant than withdrawal from capital markets due to heightened uncertainty caused by rising inflation rates, which would otherwise lead to declining stock prices. Additionally, the results highlight a strategic shift in US monetary policy, leading to better-anchored inflation expectations. The analysis also indicates that industrial production has become a less reliable proxy for economic activity in recent years, reflecting the US economy’s transition towards a service-oriented structure. Overall, the observed cointegration between stock prices and macroeconomic variables challenges the assumptions of the Efficient Market Hypothesis.
The potential of artificial intelligence adoption for managerial decision making: A rapid literature review
(Wydawnictwa AGH, 2025) Rydzewski, Rafał
The article aims to investigate how Artificial Intelligence (AI) can support managers in making decisions. The methodology employed for this purpose involves a rapid literature review process. It is done in two stages that involve the graphic analysis of keywords, the systematic manner for rapid literature review and a directed search through online scientific article databases in pursuit of answers to the research questions. As a scientific basis for article selection, Scopus and Web of Science were chosen. The study indicates that AI supports decision-making processes by providing managers with more informed insights and predictions because of high data analysis capabilities. However, there is a lack of clear indication regarding the potential future applications of AI for decision-making purposes other than a supportive role. The study highlights the importance of AI in managerial decision-making processes. It particularly enhances analytical capabilities which led to the improvement of decision outcomes. It also stressed out the need for further research on future applications of AI in managerial decision-making contexts. The main concerns tackled challenges related to its adoption, such as reliability, accountability and ethical considerations. This article contributes to the literature by conducting a rapid literature review of the current state of research of AI applications for managerial decision-making. It highlights gaps in research on the future of AI for decision-making and emphasizes the need for additional research in this area.
The impact of Ukrainian immigration on inter-voivodship migration in Poland – an attempt to estimate the regional “displacement” effect using the input-output method
(Wydawnictwa AGH, 2025) Skrzypek, Jurand
The aim of the article is to estimate the strength of the “displacement” effect of the residents of Polish voivodeships to other regions of the country and determine the regional differentiation caused by the mass inflow of immigrants from Ukraine to Poland in 2022. The study used a modified input-output method, which allows for capturing and balancing both internal and external migration. The first stage of the study consisted in constructing inter-voivodeship migration tables, taking into account the inflow of immigrants from Ukraine. In the second stage of the study, the “displacement” effect was measured using the input-output method, which showed its strong spatial differentiation – the strongest effect was observed in voivodeships with a relatively higher level of the unemployment rate and lower wages (i.e. Warmińsko- Mazurskie and Świętokrzyskie), while the weakest – in voivodeships with large urban centres and capacious labour markets (i.e. Mazowieckie, Małopolskie, Dolnośląskie). The study also revealed a paradox, namely that the eastern provinces closest to Ukraine (i.e. Podkarpackie, Lubelskie) showed a relatively weak capacity to absorb Ukrainian immigrants, whose admission could cause greater disruptions in the local labour markets in these regions than in more distant provinces. The construction of the migration input-output tables was mainly based on data from the Bank Danych Lokalnych Głównego Urzędu Statystycznego (Local Data Bank of Central Statistical Office of Poland) and the Office for Foreigners for the years 2022 and 2015.