Open AccessPRICE VOLATILITY IN MACROECONOMIC STRUCTURE OF PRODUCTION IN POLAND
Author(s) -
Dawid Bródka,
Marcin Chciałowski
Publication year - 2017
Publication title -
acta scientiarum polonorum. oeconomia
Language(s) - English
Resource type - Journals
eISSN - 2450-047X
pISSN - 1644-0757
DOI - 10.22630/aspe.2017.16.3.28
Subject(s) - volatility (finance) , economics , econometrics , price level , macroeconomics , price setting , production (economics) , monetary economics , financial economics , microeconomics
In this article an empirical analysis of price volatility was conducted, on the basis of Polish macroeconomic data from 2010–2016 and theoretical framework proposed by Austrian School of Economics. The research was carried out using a number of statistical methods used on price indices representing different stages of production. The analysis allowed to establish conclusions about differing degree of price movements throughout Polish economy and its sectors, where prices of goods produced at the beginning of the structure were characterised by higher volatility than those produced in other branches. No statistically significant difference in price volatility was noted between consumer goods and intermediate goods stage.