Modelowanie makroekonomiczne: opracowanie modułu monetarnego na przykładzie modelu HERMIN
87
0
0
Pełen tekst
(2) 25 654 289
(3) . 6 59 8 . !59 " # $%&%'(0) *+, -9. # .6 49 . /0123045672895:;02:06097<=62>80?;5<045672 901@A@89062B5;62C08658?;=D:A51=72890123@8EFG/HI /5<;02<06097<89012376C>812J230?926B80K8589062B5;D L30<:8068BM282N59?3280K8EFG/HI890123. O
(4) P6 1Q 8214 P5
(5) 6R5S29#
(6) 6 649 540 9PTP 564 84 U 52VWP 9PTP 564 9 4.6 P54 -92#2299X 96 PO2Y56 . Q2Z
(7) T P[$%\'.
(8) tquvuvwxvytzq{p|v} qrsps r}~p qp}p rr}| q{{{ qzv| r~ pz}. 012345653783. 9
(9)
(10)
(11)
(12)
(13)
(14) !
(15) " #
(16) $
(17) %&9 !
(18)
(19) !'(
(20) #)*+,-#./01020#3+4105#/+.1(36
(21) #
(22) %
(23)
(24) %7%8!
(25) 89#
(26)
(27) %
(28) % :
(29) %% !!
(30) ! :
(31) ;%%%
(32)
(33) %
(34) ::
(35) 7 :/+.1(3&<:%87!
(36) !
(37)
(38) ! 8!!:
(39) %
(40) %#
(41) :
(42) !
(43) # :%8 ; 7$%8 8
(44) 8# :
(45) : #%
(46) =
(47)
(48)
(49) %
(50) ! !
(51) :>??@=ABBC
(52)
(53) &'
(54) 6
(55) %&D
(56) !
(57) !!
(58) 7 :% !E1+40
(59) 0+45+4<,5F
(60) ! :&9
(61) %8 8%%!
(62) 'G13G6
(63)
(64)
(65) %
(66) %
(67) !%
(68) 8
(69)
(70) :
(71)
(72) %>&?&>A&9
(73)
(74) ;H : 7I
(75) : 8-
(76) J : % :
(77) !#
(78)
(79) ;
(80)
(81)
(82) ! %;%8!;:%8
(83) ;
(84)
(85) :
(86)
(87) &9 # %; :
(88) : : %
(89) :
(90) ! .
(91) !!
(92) !#%.
(93) 9! & 9
(94) 8 8 H%
(95) :!#!!
(96)
(97) ; % ;
(98)
(99) %
(100) ! !
(101) %&. 0KLMNOPQR65LM3. STUVWTXYZ[V\]Y^_TV^TZT][`aZVb\cdeSfgb\]V`hYZ[a] \i_YZj][jk[\]TZViY_ZVkb jiTlm\l_T`VZiTXVb\^n_j\XYWniTXmb\[ZoWY`kYb\kVUZTji^TXV\^Tjaim\l_Y`m pqrs. ((.
(102) fcghghijhkflcmbnho cdebe rdopb crbob dsdon cmtmmq clthn dp eulo. 01234563. 789 8
(103) 8
(104) 8
(105) 9
(106) 89 9 8
(107) 8
(108) 8 8 88
(109) 88 8
(110)
(111) 8 889 8
(112) 8 9
(113) 8 8 98 8
(114) 8
(115) 8 8
(116)
(117) 8 889
(118) !8 8
(119) "#8
(120) $%&'()*% 7+,-,.,%/(0-,1%+(7-#/29 8
(121) ! 9$%8 8 8
(122) !
(123) !8 9
(124) 888
(125) 89 8 8
(126) ! 9$%8 8
(127) 9
(128) 89
(129)
(130) 8
(131) 9
(132) 8 8+(7-#/ 8 38 8
(133) 4 ! 8
(134) $ 8
(135)
(136) 898
(137) 888%8 8
(138) 8885 89
(139) !8
(140) 8 !888 8
(141) 8
(142) 8% 8 98
(143) 8!
(144) 9 !888 8 8 * 8!88 !6898 8 88
(145) 887889 :;;<" 8 8
(146)
(147) 8589 2 89
(148) !884 89 -(0,!8!8888
(149) 98.
(150) 9
(151) 8 8
(152) %88!8 8,(01 8(03)91=
(153) 8 8 *88
(154) 98!889
(155)
(156) 8. 88 85
(157) 8",.)299
(158) 988
(159) 9 8 8
(160) 8
(161) 8
(162) 88
(163) 8 *8
(164)
(165) 8
(166) 8 7 8 7: *8 988 ! 8>*
(167)
(168) 8> 8 8?88 8
(169) 8
(170) 8% 8 8
(171) 88
(172) 95
(173) 8 8 99
(174) 8! 8
(175) 388%89 98 89
(176) 8 8
(177) 8
(178) 8
(179) 9
(180)
(181) 9% 88 @8 84 9
(182) 8 *88
(183) 8 9 8
(184) ! 8 8 889 9
(185) 98
(186) 9"5 8 5 82%
(187) 9!8888
(188) 89
(189) 8
(190) 988. 99
(191)
(192) 84 89 . ABCDE4F2. GHIJKLIKMKNOIPNKQLROMSTPUVWGXYTPNKMLZHJ[PZJHM\NO\\OKMPNLI]HMO\NTPOMZLJL\Z JHZL\TPL^I]HMSLPJHZLTPOM_RHZOKMTP`MOZPRHaK`JPIK\Z\ bcde. ###.
(193) " #$#$%&$'"( ) *$+ +*)) ! ! . +, . + / )0 (0$*, &1(+. 0123456308909
(194) 24 218311 8 426 62 1 652 21 2 2589. 0123456308909
(195) 24 218311 8 426 62 1 652 21 2 2589 !. .
(196) ¡¢¡¢£¤¢¥ ¦§¨¢©©ª©©¨§§«¢¨ ¬¬§®¦®ª ª¯¦©. 2345789 4
(197) 573
(198)
(199)
(200) 4
(201)
(202)
(203). 99 89 4 9 3 494 5!"4
(204)
(205) #$%$%&'()*+*&(,+-./0+1*2&3451(506-&(64+1*2&789&:.(;<=>0,+*&6*1*30+&*?=-+-,3-=;@&(30/& A>(A(501*2&3451(506-&(64+1*2&B89&:0<<+-*)&6*1*30+&*?=-+-,3-=;@
(206)
(207) C
(208) %$%$D&'()*+*&)E10;-./1*2&3451(506-&(64+1*2
(209)
(210) F
(211) %$%$G&H(345105./*&A>0>E./1*&;()*+*&3451(506-
(212)
(213) #I
(214) JKLMNOPQRS33T8 ! U 4! 8V! U435 4 U 94 89 4 ! U#I
(215) %$D$%&'-W)/E103()(5E&;0X3(*X(1(;-./1E&;()*+&Y97Z&[1>*3+-1\
(216)
(217) #I
(218) %$D$%$%&7]030X>*3EA>EX0&(64+10
(219)
(220) #I
(221) %$D$%$D&'()*+(501-*&A*X>(30&5E)0>X45
(222) #^
(223) #_#
(224) `abcdaefg-*&A*X>(30&<()0hE
(225)
(226) #i
(227) %$D$%$j&'()*+(501-*&.*1&-&<k0.
(228) #i
(229) #_#i
(230) `abcdaefglc
(231) mc\naof
(232) plm\fdgcqa
(233) #
(234) #_#
(235) `abcdaefglc
(236) mc\naof
(237) ragcnfogcqa
(238)
(239) #
(240) %$D$%$s&'()*+(501-*&;-W)/E103()(5E.]&<(5-t/0u&*X(1(;-./1E.]
(241) #C
(242) %$D$%$v&'()*+&[wx9yz[w{&)+0&X30245&1-*./k(1X(5AX-.]&Y97Z
(243)
(244) #|
(245) #__
(246) }~
(247)
(248) amf aefg
(249) oc
(250)
(251) rabcd
(252) rf\oac\agarl g
(253) bdf
(254) mnocp
(255) coa
(256)
(257) <(+->EXt&-AX0+1t&-&;(1*>031t
(258)
(259) #F
(260) %$D$D$%&7]030X>*3EA>EX0&(64+10
(261)
(262) #F
(263) %$D$D$D&'()*+(501-*&A*X>(30&<3/*)A-W,-(3A>5
(264)
(265) _I
(266) #__
(267) `abcdaefglc
(268) mc\naof
(269) qamabfomne
(270) barae
(271)
(272) _I
(273) #__^
(274) `abcdaefglc
(275) mc\naof
(276) fgbd
(277) e
(278) nr
(279)
(280) 30.]=1X=&,-*ht.*6(
(281)
(282) _#
(283) #__i
(284) `abcdaefglc
(285) adln\l
(286) c\agarl gc
(287)
(288) _#
(289) #_
(290) `
(291)
(292) adlmn g
(293) rabcd
(294) ocqlagfdg
(295) __
(296) %$D$G$%&7]030X>*3EA>EX0&(64+10
(297)
(298) __
(299) #__
(300) qofgl cglf
(301) rabcd
(302) _C
(303) #_^
(304) `
(305) rabcd
(306) c\agarl g
(307) foabaecqa
(308) fg\
(309) adm\l
(310) _|
(311) #_i
(312) '()*+&*X(1(;*>3E./1E&9y'[w&;()E-X0.20&;()*+=&)(&(.*1E&5<kE5=&=1)=A/E& A>3=X>=30+1E.]&10&<(+AXt&6(A<()03XW&(30/&<3/E6(>(501-*&;()*+=&)+0&<(+AX-.]&3*6-(145& :5(2*54)/>5@
(313)
(314)
(315) #_i#
(316) lmnaolf
(317) aemnfglf
(318) l
(319) oaea
(320) rabcd
(321)
(322) %$D$$D&0k(h*1-0&>*(3*>E./1*&;()*+=
(323) ^
(324) . . 0.
(325) . 234353689
(326)
(327) !"#$%& 2343'()*+, ,-.././ ) 90)1201.3,1./4-2 ,1./
(328) - 9)9, -.3,1./& 567879:;<= >?@ABCDEAFDGHIJKGLAMCJAFDMHCNAOPQRSTUAVKDVDWLXYJAIHDKHILXWGHY AZ![!\ ]^ #!# ]\_ `$! % !_# _#a!"$ !"#$%bcdefg h \ " _ ]iijk ! ]\_ ]il >?>ABCDEAFDGHIJKGLAMCJAFDMHCNAOPQRSTUAHmILFJXYJAVKDVDWLXYnAIHDKHILXWGHY& 43432o p,- 201 .q-4)431.q-0)01.3,q,
(329) ,1.//-20)1.3,1./& 43434r201 .q 4-)+23q.3st.-29
(330) +qu9 ,0 ),vw 4343432o p,- 4)+
(331) 3,q201 .q-w 4343434( ) 0)13 .q )*+, ,- ,
(332) ,1.//-20)1.3,1./ x_j!k j\[\#[!y "\!_#^ _ $j\ l 43436r201 .q
(333) )v-q.3st.-29
(334) +qu9 ,0 ),vz 4343632o p,- 4)+
(335) 3,q201 .q-z 4343634( ) 0)13 .q )*+, ,- ,
(336) ,1.//-20)1.3,1./& x_j!k j\[\#[!y "\!_#^ _ $j\ w 4343{r201 .q 0)3.-q.3st.-29
(337) +qu9 ,0 ),v 4343{32o p,- 4)+
(338) 3,q201 .q- 4343{34( ) 0)13 .q )*+, ,- ,
(339) ,1.//-20 ]\_ ]i x_j!k j\[\#[!y "\!_#^ _ $j\ & |:}6~79lw [jk$j # % l 4-20 u-)12,9*+ z . . . A. 0.
(340) . 23456. 89
(341) 9 !" #$%9& ' ' 9
(342) ( )9 *9 +,%
(343) +9 %99) ,9 &-.%9) 9,
(344) &+.9 ',/%9)9. &0 '12 3'19 $ 99 $ '1&9 &4,)95 '&)6 7 8,+$
(345) -9 9.94, $9,',/.$19.51& 9&991,',/29) ,9 ',/ & :"" ;<#<=,$)6 9 2$&) )9.19 '*. , 9.9 1>.' 9.9 2 &-.' ,/1 9$$ =& = *59&19 '7?>4@,/9 $19.51 5'12,>4@9 ) ,9. '1%.1 ;<#<A!(;:!( ;<#!" # BC 9.9 D2&95$9.&+.$9) ,>. 9,>4,9) '+94@29..$9,) %> # ;: <E;: F G * -.9.@2-)9&91)5&9 '1) ,1.%.119 '1 1,/19.51& 9&991,',/2 $95,) ,1 ' 9 ',.9. >*'1 )9 91%9)9. ,'1 ' >)=$9,'1 '19* 2) 9 .9) *.,' # A ACEA:#C !"#F H) $9,>9.9 9*&I7J CE #!K:&=9
(346) 19.59 &991,%92 <
(347) "#.$*., >-$9 : ,'=$9)95 9 2)9 =$9,9. >* < <#: <#!" L :FMFNFO:LPFQFR EK#LSFNFRFT E;UVVWXFY)99 $9 !K9.5&91)5&9 ',/2) ,=$9, &.=.9&951,/ & ' '& $9,',/19.52$&.9) ,9 19 ',/%.6 " : <#!" # 99 119-5 94,*. ,',/) 9%9 ',',/19.5L :FZQFM !K ; X[\\UL ]F^A _` E LaFM LTFb E;!K <LNFaE X[\cdBe < fL`FMELNF. g<hUVV[cL`FMELNFh E LNF g<hUVV\iBjklmJfL^FS LnFa ! UVXVoL]F n LpFeq q Lg]FP !;UVXVWBMTpaprpfLPF^A LaFS;"< LaFTA(LpFP "; ! L X. SC " < ME l! !a E:F"C F:FMFNFO:LPFQFR EK#LSFNFRF T E;Lm: E_h EL^ UVVWF U87 s,/ .92G/t =, = .t1=5 98 9) 93Hu?vwYxGusyYxz{9.52|Hu?vu,991, t. = . }~2 ~2_XUUF d ]F^A _` E LaFM LTFb E;!K <LNFaE La < #: !# <KplORe < L plORl! !; m< < ;< !;: < < E: :;X[\cL XoF c`F MELNF g<h2x .59)1 utGYYY19.52|u= 9)u,991's ,/y } UiVV[L dFXLXV_XdF `FMELNFh E LNF g<hLm<A!<A M; <KlkZ]; A < _C ; #; ;A; E<KjklmJ <K E A;E<KLlA: l! #l! !Q : FdiXL^A;;;UVV\F o^F S LnFa ! LTA O : < m ; ME #e <E <aLlA: O ;; 0 RS N <M; !KO <LJK;; UVXVF W]F n LpFeq q Lg]FP !;2{9.55% /895,'Y =1 93 /u?9/9895,'2|u= 9) 9s%9895,'}~2 7 . . 0.
(348) À½ÁÂÁÂÃÄÂÅÀƽÇÈÂɼ¿Éʼɼ¾ÉÈÇÇËÂÈ ¼½¾¿Ì¾½Ì¼¾Í½ÇνÆÎ¾Ê ÆÏÆÉ. 2356789
(349) 3
(350) 7 8 32 3 !"#$%&'()*+,6- ).+/8-
(351) ) *+.012 3 44 !5#%6"(+. 78
(352) 9: 786,8
(353) :699;8<
(354) 8 <86;8<
(355) ,88:86<8
(356) 79:86<8<9;=8
(357) /
(358) ,<8698 >?1@>AB3B3C3 :DE6 8F7G,F;8<8
(359) ;=9G+#+500)*+H+I0>@ 4 4 )%+)$J+ K?0>2 44>@$J@+'>LMJ1@N 4 )3O 8;899 8 37,/P
(360) 4Q+ R78<
(361) 8G 868
(362) <
(363) 76< G PS786,8
(364) <
(365) 6:
(366) 8
(367) D6T<U;8:<6
(368) <9;=:T6
(369) V G,
(370) 7W,8S,79A@B1M>C>X6D,G786,<8SD P7<
(371) 9YN?@CB10L G -T9V6:G89 -
(372) ,6:3R
(373) 8:79S
(374) <9::,6D6:8
(375) -C>X105#%6")21@> > 2N>2>ABAZ>021A>2NNB31[X1 X317;6DS
(376) ,
(377) <8
(378) 7G-972N@L NL@0BJ\LBXL2 6G6E 8;=<
(379) 79S
(380) <6
(381) G6 987E/ G,
(382) ;86/7D 88E6E6/8<P73 ]<<9:8 -79
(383) G
(384) ;
(385) :
(386) B10L^_`abcdefghijkhlemdndopqrsthmsuvgw^xagcay`z^{|gy}^g y^}`~ag`z{ab~^gzabz|~wgcbaca~|wgg_}axg az^bagggwwgz`za{^g^g y^|g`zab|~|g~gaxb`ggbbgdsfijrjhtrpgwygbaxgy}^ga`cay^bxg rihleptpdlpiqutslkhuprhtrdhpelepuislephkrqrqudehptpijqjqfprlg ¡
(387) 78,
(388) V8G<8T 86EG
(389) ;9 :,6D5#%6"<86G 8
(390) ,
(391) 79
(392) ¢<86 6UD<6/SD :<6
(393) <6/ ;=V88
(394) 786
(395) 7 7E6E 86G67<68 <68
(396) D6T<U;8C>B1N@B1 ;8F L?@>2>B1+'0N1M>AG7
(397) ,86<86,G786,<8;=P7<
(398) 9 ,S
(399) <9;=878/DF,B31B31CN ,S P7<
(400) 86 <:8;8<6E E
(401) 8 G6;9£8 8
(402) :6/:,6D :
(403) G -T9VD6G 86: ,8786;86,D6<8G;6 P78
(404) ;=,8W;9;=7/ G,
(405) ;6GD 86E 79:¤7 6 ,G-97 0L@ L2N@L NL@0BJ\LBXL21L@>?1[2 3J¥ ¦§ 79;=79;8V 8,G-97:
(406) 9G86<8FT<6E7/ G,
(407) FGD W¨ ¦§ 7G7
(408) ,88V
(409) 97<WDFG
(410) 9 7
(411) GG8686
(412) D88
(413) ;EFGD89 8:<6
(414) <6E¨ ¦§ ,G
(415) ;7
(416) V:6;=
(417) <88:7G-97 6 P7G,D6/
(418) EW;9;=8<86G,D6/
(419) EW;9;= S78:8F,89<
(420) ,76:<
(421) G;6 9/ G,
(422) ;86 79:¤<
(423) 8
(424) -7
(425) <86 8F C31BBJC>B1N@BJ© ª. «+HLXB3 )%+¬@12N)%+5L01E 386 8; 8 2356789
(426) 3
(427) 7 8 32 329S
(428) ;89 ®BL?XN1 >\NJ1C@>1>B>C1N@3C>X10>\NJ1Z>032J1>B>C"#$%&')"@>X>AHB Z>02 3A>@ 3BM??1@B@¯°) K@2A + *+ ,6- ±3/8-
(429) ¡3±
(430) D6 8 56
(431) ,6
(432) <,D86 8<=6
(433) 1>\@1M3>B2Y#²>J123>B?>033BZ>0BX3B N J 1 03MJN>\C@>1>B>C3C>X103BM)³42N#´®$>BM@122)H@10>B 44+ 4 + #+500)*+H+I0>@)% @>1 >B>C3)KXAB3NA>"L >A1ZK")K@2A 4 + 44 %+ HL@X)$J+K?0>2)
(434) 6 <:8
(435) µG,F;8<8 1L@>?1[2 3)ZK#)K@2A + 4 $J @ +'>LMJ1@N)6BN@>XLN3>BN>#>B>C1N@32Q@X#X3N3>B)&¶\>@X²B3·1@23NZ@122)²´® + 4Q¸ <:6 8
(436) G38S83G,6,33O 8;899 86/ 37,/P 86E £8;9<
(437) ¹9,
(438) 7<8;8
(439) ºO» ¹
(440) 8
(441) 7
(442) + ¼½¾¿. . 0.
(443) [X\]\]^_]`[aXbc]dWZdeWdWYdcbbf]c WXYZgYXgWYhXbiXaiYe bjad. 2 45678459 7
(444) 94554754
(445) 5495944 7645 ! "#$ %#&'(! %)*( % &+ ,- 2 .
(446)
(447) 5
(448) .
(449) 5
(450) /07/ 459
(451)
(452) 4157294
(453) 503959403 764 ! $ %)$45* '+#44 $# )!$4 6)'+#(*# 7#$+)4 ,#*(4 8*+507 79 5
(454) 4/594 4 89659459443 3
(455)
(456) .400 5038776
(457) .9:7.99448975;
(458) ; 5941<5
(459) 99. 4 67572 ! 8$ "7$#4 ,#*(+ 01
(460) 72 4877857 = > 746
(461) 4 929
(462)
(463) ./
(464) 6
(465) 99 ?7 6 9
(466) /94 487 .;0 !7#)$)*+7 %)$#. 7
(467) 7994764
(468) .74.7579 54879
(469) 1594 44303
(470)
(471) .400 54 .
(472) 4157297648776
(473)
(474) .95
(475) @
(476) 6 947
(477) 5477
(478) 54 A749:747649
(479) .74.7579 5476.4
(480) .0 50=B7 6 9
(481) /689
(482) 94
(483) 77 044740 5 @7.754
(484) 54877
(485) 7
(486) 56
(487) 764CDEFGH
(488) ; 5941794
(489)
(490) 40
(491) 95
(492) ,)$"II+ !"7$"IJ 7#!#8)"I"7) % "IK,*)L * '+% '!# +#"7) % 4MNNO<PQQR!! S
(493) .7T 4594
(494) 0.75454995
(495) 0.
(496) 503 059.
(497) 39.94($'(,)* 7#U !)"$), 7.427509
(498) 8
(499) 659459
(500) 9= . V. WXYZ. . V. 0.
(501) ¡¡¢¡¡ £ ¤¤¥¦¦¢ §¡. 23454678.
(502)
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`39;-0312/?-531=78-5/403=43:358@2:;@B-2-43D@/-7/<-abU<;@B-M2M6=>:8>-<=30=<;@2:=-.&$%(" 43:9=:@?3:/7:;@B-4=;:=+8+<39+48@B-531=78-=43:35=<0;@2:;@BN-4<C0=-31-63>39;-7/<-cbUHF)E" 136039/128>;-13-+6/14M-/4<;9:3X@8-9-2/40=+8=-531=739/:8/-Yd7=8:N-efagh-i=7789=77-8-8::8N^jkl]^lJ"m358:M?,@=-9-</5<;@B-@2/+/@B-4=;:+8+<39+48=-631=?X@8=-n636;<39=o-23+</>3I*'$'"*$"@/>4398@8=-:8=316398=1:8N-48=1;-W3+631/048-40/?C9-pqrm-23+</>;-6311/:=T* % #"U"#($' G()("L "TH& '("L LFH G S"U"G"!$H$)E"stUHF)ER"8-.;>;-</0W/:=-40;2;+/58\u!(' &R"^jsj]^vJ"KT%IH%")*P "2/@2A<3-43:@=:<039/O-M9/WA-:/-2/W/1:8=:8/@B% '%I0=:@;?:3X@8-43+2<C9-?/43-9/V:;5-+4>/1:84M-340=X7/:8/-98=743X@8-6031M4@?8NL&*F'$S#'(S"G"GFT )" HG$&HF)E"P TL $&%$)EJ"w::;58-+>39;N-9-43D@M-7/<-abUHF)E" L&*x &#I> G$'("#L(&F)*'F)E"# !("#$%& % ' #()*'F)E"58/>3-58=?+@=-W=:=0/7:8=-:/H!"&$ F%$!'S" ' GF"H &(("#$%& % ' #()*'S"\u!$')E$& "("y(T)E&R"^jjt]^sJ"z" #($' G()(R" & *'("G"*$%&T("./1/D-:/-<=5/<-<=3088-9203+<M-+<9302;>3-6=9:=-9;<;@2:=N@3-13-2>3V3:;@B-2/W/1:8=D-<39/02;+2,@;@B-360/@39;9/:8M-2/+/1-6378<;48-W3+631/0@2=?5/?,@;@B-:/-@=7M-298A4T*'("9+4/{:84/-9203+<M-W3+631/048-40/?MZ" |31+M539M?,@N-53V:/-<98=0128ON-V=-873X@839=-./1/:8=-96>;9M-1=@;2?8-9-2/40T("L !(HF%(" P TL $&)*S"+</>3-+8A-3.=@:8=-2/0C9:3-63V,1/:=N-?/4-8-53V789=-13-602=6039/12=:8/Z" ^_. "}J"u&$ !FR"}J"~$!T%(R"J" #$T*GT%(R"$L &H"% ') GF"GF% '$'F"G"&$#$)E""H$LI"L&$)" T% '$!'(" # !I" " !$"L !T%(S"P TL $&%(R""K& )!$GT%$"zP')S$" *G SI" P( '$!'P R"K& )!$G"ttlR"TJl"(" '$THJ" ^l"J "!('R"E") ' #()T" x"ILL!F"$' " #$' R"u$T(!"u!$)%G !!R" ' '"^jk"}J !!(G !!R"J"HI&#R"J" }$&&HHR"J"$! IR"zPP&P$H"ILL!F"('"" !"L)(x()$H( '"$' "#L(&()$!" TI!HTR"K &%('P"$L&" vR" L$&H# 'H" x") ' #()T"$' "H$H(TH()TR"R"$&(T"^jklR")FHJ*$"}J"u&$ !FR"}J"~$!T%(R"J" #$T*GT%(R" zJ"K SH$T($%R"$L &H"^J" Fx(%$)S$"("I$%HI!'('("G &TS("# !I" " !$" !T%(R""K& )!$GT%$"zP')S$" *G SI" P( '$!'P R"K& )!$G"tt_R"TJvJ" ^v"zJ "u!(' &R") ' #()" !()F"$' "E"&$H"H$Px!$H( 'R"z)$ #()"&TTR" G" &%"^jsjR")FHJ*$"}J"u&$ !FR" } J " ~$ ! T%(R"J" #$T*GT%(R"zJ"K SH$T($%R"$L &H"^J" Fx(%$)S$JJJR" LJ")(HJR"TJvJ ^s"J "u!$')E$& R"J"y(T)E&R")HI&T"('" $)& ) ' #()TR"E" "&TTR"$#Q&( PR" $TT$)EITHHT"^jjtR" )FHJ*$"}J"u&$ !FR"}J"~$!T%(R"J" #$T*GT%(R"zJ"K SH$T($%R"$L &H"^J" Fx(%$)S$JJJR" LJ")(HJR"TJvJ" . . 0.
(504) . 23232567898
(505)
(506)
(507) 6 !"#98$8%8&"98' (9(#&( )6&"* +, +
(508) - " 9(87$8%8&"98' (9(#&( ) .
(509) +,/ 012 3
(510) ,/4567. +,84 33
(511) 9 ,/2 3 2:9,/;, 67898*"<!6<6="%676&"7*8%("<6#(8*&6* "(!> (=>*="%(" ($6< 67"&?($96#"9%8@3A ,4/ B3C4
(512) 4 45
(513) +4 39C,2+, + .5 4 2 3
(514) !> DE59 5C,94 2
(515) /2:9 ,
(516) /2F G C,9 : 67898!8$6!> ?6% 8%!&
(517) + B
(518) H"%792 B3/676=8$63 I5J
(519) 3K67. ,9
(520) B , +4 3J/;4 2;L =(896<!&6%%8 $96#"9%8(&8$(6%"9%8)6&"*7= <!&6%%8<!6<%?(H"%796=8M@"?(#"&7*(8@ + C
(521) B4
(522) ,/ N8?6%6 ( *%> H %((O#"7"%("P-QR- Q&"% 6(<"%7 SH(899<2TTUMV8H68WXXY)2ZM[ \ &%("]"%7A"89#&68 ?2TTWM"<(6&8?8!"93WXXW)2TM -^ -7" <2TTZ"MA"9 <98>WXXW)WX3_%%8<`8&>*"<!6<6="%(" 6789(,/4567.
(523) JC 4 +,EC;3
(524) 5 , C 3 2 ,/5983L 4 03 +,/( *%8 a8&(?6<"%7bH"%$MWXXX)W2:2 B3/ 3 ,;
(525) E9,/5 cde
(526) 3 f"%R6%$8&8%M2TTTM"%7g8@6&"%7P"H(<MWXXX)WW: 2 B3/ 3 9//+> `(%"%<6=8 -7" <M2TTZ#M"%7-789 "%"%7h897"%MWXXX)Wi3_%%8#"7"%("%" 67<!"=(8 2Z. j3Q3Q&"% 6(<M3k3SH(899<M56789(%$R&"78^69( >O- 9(878%8&"9' (9(#&( -<<8<< 8%!<6`P6&!H - 8&( "%`&88!&"78M" #&(7$8[%(f8&<(!>^&8<<M" #&(7$82TTUlR3j3V8H68M-%8f"9"!(6%6`!H8 8&`6& "% 86`" 9(87$8%8&"98' (9(#&( 6789<6`!H8( " !6`P-QR-MS!"``k8 6&!iWXMQ878&"9k8<8&f8 \"%?6`5(%%8" 69(<WXXiM >!3*"Oj3-3(8<8 ?8Mj3k35"778%Mk8$(6%"9-7@<! 8%!!696#"9(*"!(6%O" -% "9>!( "9Q&" 8=6&?M=O96#"9(*"!(6%"%7k8$(6%"9 6%6 ( 567899(%$m: 4F ,F:<3WiX3 2Tj3 53\ &%(" ]Mj3A"89#&68 ?M^&89( (%"&>&8<9!<6`!=68] 8&( 8%!"9 6789<6`$8%8&"98' (9(#&( =(!H ( 8&`8 ! 6 8!(!(6%Mnj6 &%"96`^69( >e 3
(527) opqqr:ps:tuNTWl53"<(6&8?M-3S (!HMR3a8%"#98<M RH8" 8<<( E,;vw, ,;.6L
(528) E
(529) /+ +:nx 5
(530) E 22 29,+,53 +oryyr:sy:sruN UUzM >!3*"Oj3-3(8<8 ?8Mj3k35"778%Mk8$(6%"9-7@<! 8%!!696#"9(*"!(6%O"-%"9>!( "9Q&" 8=6&?M L 7
(531)
(532) , 3{
(533) . 2 e 3
(534)
(535) m:6 3 (!3M<3WiX WX ^3|3-7" <Mg6%$N&%``8 !<6`-^R&"78g(#8&"9(<"!(6%O-%- 9(878%8&"9' (9(#&( -%"9><(<M nA6&97 6%6 >opqq}M%&W2MTi2DTYWlR3g3A"9 <98>M_% 6& 6&"!(%$(%!8&%"!(6%"96=%8&<H( 6`8%76= 8%!< (%!6"$96#"9" 9(87$8%8&"98'5
(536) 522 3
(537) :n. 2 e 3
(538)
(539) oryyr:pq:t~qNzXzM >!3*"Oj3-3 (8<8 ?8Mj3k35"778%Mk8$(6%"9-7@<! 8%!!696#"9(*"!(6%O"-%"9>!( "9Q&" 8=6&?M=O96#"9(*"!(6% 3{
(540) . 2 e 3
(541)
(542) m: 4F ,F:+Fry W2 3a8&(?6<M3bH"%$3S8 !6&"9_ " !6`g(#8&"9(<(%$R&"78(%S8&f( 8M " 8& &8<8%!87!6!H8RH(&7 6%`8&8% 86%96#"9 6%6 ( -%"9><(<M589#6 &%8WXXXM >!3*"Oj3-3(8<8 ?8Mj3k35"778%Mk8$(6%"9 -7@<! 8%!!696#"9(*"!(6%O"-%"9>!( "9Q&" 8=6&?M=O96#"9(*"!(6%"%7k8$(6%"9 6%6 ( e. 3
(543)
(544) m: 4F ,F:+Fry WW3 f"%58(@9MQ3f"%R6%$8&8%M%76$8%6<_%!8&%"!(6%"9R8 H%696$>S (996f8&<"%7\("<87R8 H%( "9 H"%$8(%-$&( 9!&8Mn. 2 +/+,2+{+;opqqq:pp:pNUZl-353g8@6 &Mk3P"H (<M 8%%8<<M &6=!H"%7k|S (996f8&<O[% 6f8&(%$!H85(<<(%$g(%?M " 8& &8<8%!87!6!H8RH(&76%`8&8% 86%96#"9 6%6 ( -%"9><(<M589#6 &%8WXXXM >!3*"Oj3-3(8<8 ?8Mj3k35"778%Mk8$(6%"9-7@<! 8%!!6 96#"9(*"!(6%O"-%"9>!( "9Q&" 8=6&?M=O96#"9(*"!( 3{
(545) . 2 e 3
(546)
(547) m: 4F ,F: < 3WiX Wi^3 |3-7" <M^&6< 8 !<`6&!H8- <!&"9("%8 6%6 >"%7!H8( " !6`!H8-<("% &(<(<Mn- <!&"9("%\ 998!(%6` g"#6 &opqq}:rs:rs~NWzZl_3-789 "%M3h897"%M&(% MRH85(%( "96%7(!(6%<`6&"Q(%"% ("9&(<(<O- e5
(548) ,
(549) ,,24
(550) 67.e 3
(551) E,;+ 6 + +:n
(552) 3Id
(553) 42,oryyy:r}:py}~N22XXM >!3 *"Oj3-3(8<8 ?8Mj3k35"778%Mk8$(6%"9-7@<! 8%!!696#"9(*"!(6%O"-%"9>!( "9Q&" 8=6&?M=O 96#"9(*"!(6%"%7k8$(6%"9 6% 2 e 3
(554)
(555) m: 4F ,F:+Fry . . 0.
(556) . 2346789
(557) 879 8 8 !"#$%&'()%*+,-&./'&00123% 4757 6 76745 6 77 9 275668 68 9: (0;%<;(=.%#>>$?#@A%B7 845 4576 7 5 C%D(;(0+(%0(%/,=(/%E-&D(-0,E&%F'),F79 -G;)+H%*%/1=%I%,J,K/G%=+E'(2L+%)(E'(0+2)0123%MN,/,'%OPPQH%(0;%R&/&%OPPS?#S: 88'1)=G% T6 95767 7U6 6V5 8 5 W"#X: 8 86 8 5 9 MY+Z&0%,/%(-A%OPP[H%(0;%R+,.,2K,%#>>$(?#[%75 8 477 T6 95767 &% /G'1)=G%L(K&%',(K2L+%0(%/,''&'1)=%M<;(=.%,/%(-A%#>>O?#P \77 4765: C
(558) 476 8 7 47657 ]:8 C 877 8 66 477
(559) =&;,-+%894234^65C9 _`%M`+*('+%,/%(-A%#>>Q?Q>:5C98 7G0+K(21L0,L%MR+,.,2K,%#>>Q?QO%&'()%D5C9;-G% ,-,K/'&0+2)0,E&%MY+Z&0%(0;%a+==,'%#>>@?Q#A% #$. %bAcA%`.+E(.H%RAdA%e'+.f&-;H%dA%gG30H%R-&D(-%2-+=(/,%23(0E,%(0;%(E'+2G-/G',H%+0h%`AiA%j,'/,-H%,;AH%R-&D(-% `'(;,%<0(-1.+.H%b&;,-+0E%(0;%<FF-+2(/+&0.H%k(=D'+;E,%l0+f,'.+/1%N',..H%k(=D'+;E,%OPPXH%21/A%)(h%mA<A% R+,.,2K,H%mAaA%b(;;,0H%a,E+&0(-%<;LG./=,0/%/&%R-&D(-+)(/+&0h%(%kRc%<0(-1/+2(-%e'(=,*&'KH%*h%R-&D(-+)(/+&0% 6n 74 77 o76 p:74 8 : qrs% #@% gA%k&0'(;H%`AeAtA%%u23=+;/H%c2&0&=+2%,JJ,2/.%&J%(0%G02&&';+0(/,;%f,'.G.%(%2&&';+0(/,;%2('D&0%;+&Z+;,%F&-+21% +0%/3,%cG'&F,(0%l0+&0h%(0%(FF-+,;% 5 v59 :w4 77 89 8 5 5 x 9:5 s: y z O[#{%NAYA%<;(=.H%b,;+G=%/,'=%F'&.F,2/.%J&'%/3,%<G./'(-+(0%,2&0&=1%(0;%/3,%+=F(2/%&J%g1&/&z2&=F-+(02,H% wU 85| 87}75xqss~:5rs: zO@H%21/A%)(h%mA<A%R+,.,2K,H%mAaA%b(;;,0H%a,E+&0(-%<;LG./=,0/%/&% 37 87^234U98 5 75:^37 876n 74 77 o76 p:74 8 : .#SA#Q>% %bAiA%N,/,'H%`3,%G.,%&J%/3,%a<t_%b&;,-%+0%/3,%+==+E'(/+&0%;,D(/,H%k,0/',%&J%N&-+21%u/G;+,.%(0;%/3,%_=F(2/% N'&L,2/H%b&0(.3%l0+f,'.+/1%OPPQ{%mA%R&/&H%`3,%+=F(2/%&J%=+E'(0/%*&'K,'.%&0%/3,%m(F(0,.,%,2&0&=1%h%/'+2K-,%f.A% J-&&;A%t,*%j(f,0H%(-,%G0+f,'.+/1%OPPSH%21/A%)(h%mA<A%R+,.,2K,H%mAaA%b(;;,0H%a,E+&0(-%<;LG./=,0/%/&% R-&D(-+)(/+&0h%(%kRc%<0(-18 5 75:^37 876n 74 77 o76 p:74 8 : . A#Q>% #X%NA YA%<;(=.H%dA%N('=,0/,'H%<0%<FF-+,;%R,0,'(-%cG+-+D'+G=%<0(-1.+.%&J%`&G'+.=%+0%(%G+/,%u=(--H%G+/,% F,0%c2&0&=1H%w<FF-+,;%c2&0&=+2.x WH%0'%%#XH%P[@zPP$H%21/A%)(h%mA<A%R+,.,2K,H%mAaA%b(;;,0H%a,E+&0(-% <;LG./=,0/%/&%R-&D(-+)(/+&0h%(%kRc%<0(-1/+2(-%e'(=,*&'KH%*h%R-&D(-+)(/+&0%(0;%a,E+&0(-%c2&0&=+2% o7 6 p:74 8 : qrs #[%NA dA%Y+Z&0H%dAaA%N('=,0/,'H%%bA`A%a+==,'H%`3,%,JJ,2/.%&J%J&',+E0%./G;,0/.%&0%/3,%<G./'(-+(0%,2&0&=1% (0;+/.',E+&0.H%F(F,'%F',.,0/,;%(/%/3,%#X/3%k&0J,',02,%&J%c2&0&=+./.H%l0+f,'.+/1%&J%u1;0,1%OPP[{%mA%R+,.,2K,A% 75 886 8 U6n 7 4 77 ^Uo85 73 54v5U9 :U 85 75 7n 7886 xqss~:5 s: 98A%)(h%mA<A%R+,.,2K,H%mAaA%b(;;,0H%a,E+&0(-%<;LG./=,0/%/&%R-&D(-+)(/+&0h%(% 234 U98 5 75:^37 876n 74 77 o76 p:74 8 : qrs% #P%NA YA%<;(=.H%NAdA%Y+Z&0H%bA`A%a+==,'H%`3,%u,F/,=D,'%OO%u3&2K%/&%`&G'+.=%(0;%/3,%<G./'(-+(0%c2&0&=1% J'&=%#>>Oz>#%/&%#>>Qz>$:wU 85| 87}75xqss :5q!:q~ z#@XH%21/A%)(h%mA<A%R+,.,2K,H%mAaA% b(;;,0H%a,E+&0(-%<;LG./=,0/%/&%R-&D(-+)(/+&0h%(%kRc%<0(-1/+2(-%e'(=,*&'KH%*h%R-&D(-+)(/+&0%(0;%a,E+&0(-% 4 77 o76 p:74 8 : qr>% Q>%NA %`+*('+H%bA%Y&+H%jA%_/&3H%<%kRc%<0(-1.+.%&J%/3,%N&/,0/+(-%_=F(2/%&J%_0J&'=(/+&0%`,230&-&E1%&0%/3,% m(F(0,.,%c2&0&=1H%wV7 95 75xqssr:5y: !zQQH%21/A%)(h%mA<A%R+,.,2K,H%mAaA%b(;;,0H%a,E+&0(-% <;LG./=,0/%/&%R-&D(-+)(/+&0h%(%kRc%<0(-1/+2(-%e'(=,*&'KH%*h%R-&D(-+)(/+&0%(0;%a,E+&0(-%c2&0&=+2% o76 p:74 8 : qrs% QO%mA <A%R+,.,2K,H% 5 74 8 78 5787w 779x6 85 z%/3,%2(.,%&J%<G./'(-+(0% /,-,2&==G0+2(/+&0.H%F(F,'%F',.,0/,;%/&%$Q/3%k&0E',..%&J%/3,%cG'&F,(0%a,E+&0(-%u2+,02,%<..&2+(/+&0H%e+0-(0;% #>>QH%21/A%)(h%mA<A%R+,.,2K,H%mAaA%b(;;,0H%a,E+&0(-%<;LG./=,0/%/&%R-&D(-+)(/+&0h%(%kRc%<0(-1/+2(-%e'(=,*&'KH% ^ 37 876n 74 77 o76 p:74 8 : qrs% Q#%NA dA%Y+Z&0H%bA`A%a+==,'HcZF-(+0+0E%(%;10(=+2%kRc%.+=G-(/+&0%*+/3%(%/'(;,zJ&2G.,;%D(2Kz&Jz/3,z,0f,-&F,% (0(-1.+.h%/3,%,JJ,2/.%&J%,k&==,'2,%&0%<G./'(-+(H%+0h%`'(;,%/3,&'1H%(0(-1/+2(-%=&;,-.%(0;%;,f,-&F=,0/h%,..(1.%+0% 3&0&G'%&J%N,/,'%-&1;H%&-G=,%_H%,;.%u+.+'(%m(1(.G'+1(H%c;*(';%c-E('%NGD-+.3+0EH%k3,-/,03(=%lg%#>>@H%FFA% ##Qz#@SH%21/A%)(h%mA<A%R+,.,2K,H%mAaA%b(;;,0H%a,E+&0(-%<;LG./=,0/%/&%R-&D(-+)(/+&0h%(%kRc%<0(-1/+2(-% 5 75:^37 876n 74 77 o76 p:74 8 : qrs . . 0.
(560) jgklklmnlojpgqrlsfistfsfhsrqqulr fghivhgvfhwgqxgpxht hiyps. 23467849 48
(561) 4 37 83694
(562) 27 !" #$%& '(%)*+$%"",)- (" .%"$ (%/0 /$+ 1(/-/-2345"!" #+$ "36
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
(564) 3797 37
(565) 67 4E6N3C6E9 34684E
(566) C44C4 8763C76 -2/. #+ #)#"1(3.4O%&0$#:; 6943 3+= ?@A /' "0 =,) %(/$ 3-,/45" + #30B" .'/ !3; #"0B""(/ '/ %(/$ #3 $ " -#",) 0"+% "BH%("($3 ! "('. C4E3 7 6 767 7963467 67367 833 8
(567) 6<CP944
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
(569) C<7 4E 7 63
(570)
(571) <43+"'/(" '(3-2 3(0"-24O%& 76944[\9NC64 +"$=,)-/1="("1%#3#"0 /$= 0 3. %($ =./( 3+1% 30%.(/ " (/,%H%$0"1(/,.9) B"9#%;+,"%",)-/$%& #"0B 4 37P9444E
(572) 6 7B 64C67 <7 49 "("1%#3 +1% 30%.(/ " (/,%/H/0 $ "!%1%#7 8 8 /9=B6 47C 8D 7+ #30B" SS. ]^34 4 47]_P7994 7_4E3 7^98 64 N73673 D7^ 73 7`C764<C7<D @1!"1%#" %("(a/9%("1A-(.%-X/11%(9b +4-% 4 $4cde. fghi. . 0.
(573) ®«¯°¯°±²°³®´«µ¶°·ª·¸ª·ª¬·¶µµ¹°¶ ª«¬º¬«ºª¬»«µ¼«´¼¬¸ ¬²½´·. 3456789
(574) 8 986 9
(575) 88 7896
(576) 96 85 969 98 4 !"#$ 4$%! &4"#$5'(
(577) 99'
(578) 85)*+,$ -8 86 9678566./0185 6
(579) 652 (698376 85884928 5!$ 567$. 88 9698 9696 $8
(580) 6 82696 6)
(581) 3
(582) 64)99 )78 276 9696583
(583) 6 99
(584) 6
(585) 669
(586) ' 8:$58)488
(587) 6 8 6 858 6598'6948 85
(588) 6;<8566 6 8 229658 898289)
(589) 69
(590) 9'
(591) 85) '
(592) 98869 8596 8
(593) 99 8(' ;$ =,=,*$>8
(594) ' 9 6 9678566
(595) ' 98 4$$ ?)26 9 68
(596) 7
(597) 868987 @66$ABCD 8
(598) )2$E)96) 6988
(599)
(600) 85) 6) 9695648 85
(601) 5878 9E
(602) 78
(603) 579
(604) F 8 6;<8566 648 ) 82278568 9668987 G)(6(
(605) )H 6 9
(606) 9648 85
(607)
(608) 6
(609) 6999
(610) ' 58982482 )( )75 867
(611) 2696
(612) 428
(613) 98577 6
(614) 97
(615) 5)E
(616) 7)(
(617) '97 @ I%4 $& JK L"!7 ! $5$L%3!L4@&K$M JL @4%JN5$@ 5!"#,$O P$N! $"6K$ 685 6E
(618) 7E)989)29 566& $J&4 $ 4$%! &K$ $ 89)
(619) 699658 8986 )Q R N:AN M N3$SQ R N$4 @$AN M N3T$=UVVW*X$Y$" $L 3544$ 4$ 8
(620) 796
(621) 85) ' $#6N6% M6 "3 !"#$ 229$
(622) '98
(623) 85982 L 3544$ 4$ Z[\]^^_`abcdefg$I J& "#$JKIJN! ) '
(624) 85) ' 75
(625) 64897*h,$ ijkOlmnopqrstuvuwqxmyz{|t}~snzyxmvsvz{|t~tuvq~{|t}vsoq~t}xmvovyv}~{nyz{|tO =,,=$<59
(626) 858 7
(627) 8689879 @6$DBQ$ N6% &$ ;;;9
(628) 6
(629) 84'9$ @6$DBQ$ N6% &$6 785667759
(630) 858 7 6
(631) 27785665
(632) ' 898 91.8
(633) (89958 '
(634) 82
(635) 64891.8
(636) 989: 1.6 9 8 2 '983759
(637) 858 99958 9
(638) 68 ' 8(
(639) 8 ' 69;997 88 6 8
(640) 6
(641) 669 48 85
(642) 8 687826 )789
(643) 659978567
(644) 86898799885 6 8 6'8
(645) 8)5 '
(646) 9 9
(647) 6
(648) )6
(649) 898 1.98 29 687)4
(650) )8 97
(651) ' 96898 9;$ *+. $<; 8;8646
Powiązane dokumenty
Teoretyczny model Rogersa zakłada, że innowatorzy, wcześni użytkownicy i wczesna większość powinni stanowić połowę wszystkich badanych, a na podstawie przedstawionych
In this paper, the results are presented of in situ 2D align- ment studies of short fibers. The influence of aspect ratio on the final orientation distribution is studied.
C1 Celem modułu jest zapoznanie z podstawowymi metodami dyskretyzacji równań różniczkowych cząstkowych oraz technikami redukcji błędów aproksymacji na przykładzie równań
ewaluacyjnym, gdzie mieszkańcy Częstochowy i urzędnicy dyskutowali o proble- mach, jakie wystąpiły podczas procesu budżetu obywatelskiego, oraz zastanawiali się nad
Rolę bazy danych w samym procesie modelowania można rozpatrywać – jak ma to miejsce w przypadku systemu modeli HERMIN w Polsce – z punktu widzenia 16 modeli regionalnych oraz
Jego celem jest budowa i opracowanie teoretycznego modelu systemowego zarządza- nia przedsiębiorstwem logistycznym, który uwzględnia zarówno wytyczne i założenia normy
Odpowiedź wydaje się prosta - na fragmentach o gęstej pokrywie koron drzew nie należy korzystać przy przetwarzaniu z modelu rzeczywistej powierzchni terenu, lecz z modelu
rozwiązywania, sygnalizowanie pozyskanych wyników, a także wykazanie chęci kontynuacji i poszerzenia działań doskonalących na kolejne obszary w przedsiębiorstwie może stać się
