PRICE VOLATILITY IN MACROECONOMIC STRUCTURE OF PRODUCTION IN POLAND

Abstract

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.