Volatility persistence is a stylized statistical property of financial time-series data such as exchange rates and stock returns. The purpose of this letter is to investigate the relationship between volatility persistence and predictability of squared returns.

The aim of the paper is to compare reactions of two stock markets, the German and the French, to releases of macroeconomic fundamentals emanating from Germany and the U.S. We examine the reaction of intraday returns and volatility of the CAC40 and the DAX indices to macroeconomic surprises. We find that both American and German macroeconomic releases cause an immediate response in returns and volatility of the German and the French stock market sampled at a five-minute frequency. The reaction to the American macroeconomic surprises is stronger than to the German ones.

Various quantile regression approaches are implemented to analyze thecharacteristics of Italian data on earnings in the tails. A changing coefficientspattern across quantiles shows increasing returns to education along the wagedistribution. A quantile decomposition approach shows that higher educationgrants higher return at all quantiles, thus implying additional, non-linear returnsto higher education throughout the entire pattern of the earning distribution.Wage gender gap displays a decreasing pattern across quantiles, and it doesnot disappear at the higher quantiles. The southern workers penalty decreasesacross quantiles as well for highly educated workers.

Return migration has been increasingly gaining prominence in migration research as well as in migration policies across the world. However, in some regions, such as the Caucasus, the phenomenon of return mi-gration is little explored despite its significance for the region. Based on 64 interviews with returnees and key informants together with additional online surveys with Armenian migrants, this study discusses im-portant issues about return and reintegration with policy implications. It covers voluntary returnees as well as the participants of the assisted voluntary return and reintegration programmes and presents the case for a multiplicity of the return migration motivations and experiences which are dependent on the return pre-paredness and the strategies which the returnees use.

This article contributes to the growing debate on reintegration and the positioning of returnees in their home societies. Increasingly, studies focus on returnees’ agency in reintegration processes, their practices of mobility in return and their use of social capital and financial and social remittances acquired abroad. Much less analysed is how ethnicity influences such processes of return and experiences of reintegration. In this paper we examine how returnees belonging to different ethnic groups – Germans, Romanians and Roma – reintegrate in a Romanian multi-ethnic context with marked ethnic inequality and lasting segregation. Fieldwork was carried out in a town that has undergone massive changes in the past 30 years due to the combined effects of foreign direct investment and international migration. Economically, the town changed from a poor and decaying context, to one that was poor but developing and finally to one experiencing strong development. Using a modes-of-integration perspective and analysing returnees’ reintegration and mobilities, we show how return evolved as an ethnicised process in different contexts of reception.

This article is devoted to contemporary return migrations by Kazakhs – a process of great significance for the population and cultural policies of the government of independent Kazakhstan. I examine the repatriation process of the Kazakh population from the point of view of the cultural transformations of Kazakh society itself, unveiling the intended and unintended effects of these return migrations. The case of the Kazakh returns is a historically unique phenomenon, yet it provides data permitting the formulation of broader generalisa-tions. It illustrates the dual impact of culturally different environments, which leads to a simultaneous pre-serving and changing of the culture of the new immigrants. The analyses found in this article are based upon data collected during two periods of fieldwork conducted in June–July 2016 and March 2018 at several locations in Kazakhstan and in cooperation with a Kazakh university. The research methodology is anchored in multi-sited, multi-year fieldwork.

The main aim of this paper is to assess the extent to which the 2016 Brexit referendum impacted on the decisions of young Polish and Lithuanian migrants to stay in the UK or return to the country of origin. We analyse information from 76 in-depth semi-structured interviews with Lithuanians and Poles living in the UK, as well as those who have returned to Lithuania and Poland since June 2016. We find that, for our interviewees, the referendum had little impact on the decision to stay in the UK or return to the country of origin, giving way, instead, to work, family and lifestyle considerations. Only for a select few did it act as a trigger, either adding to other reasons which eventually prompted the return to Lithuania or Poland, or motivating people to secure their rights in the UK and delay plans to leave the country. We conclude by discussing our results together with existing research on transnationalism and life-course migration theory: regardless of interviewees’ decisions to stay or return, these were never final, stressing the fluid nature of migration and the desire of our interviewees to maintain ties across multiple places.

The aim of this paper is to examine individual social remittances in the sphere of employment, against the background of the changing employment patterns and flexibilisation of work. Through an analysis of life stories of post-accession return migrants from the UK to Poland, it investigates the way in which returnees’ work experience gathered abroad impacts on their perception of employment standards in general. The revealed differences are understood as ‘potential social remittances’, i.e. the discrepancies acknowledged by returnees between the realities experienced during emigration and after their return (in this case to Poland). It is argued that the actualisation of the ‘potential social remittances’ depends on return migrants’ coping strategies as well as on the institutional and structural settings in returnees’ home country. The four main distinguished strategies are: re-emigration, activism, adaptation and en-trepreneurship.

Weeds in sweet corn reduce the yield and are economically more harmful than other pests. The aim of this study was to evaluate the effects of mechanical weed control and efficacy of pre- and postemergence applied herbicides in sweet corn, and their influence on weed control expressed by various indices, corncob yield and net return. Field studies were carried out with preemergence thiencarbazone-methyl + isoxaflutole (at 29.7 + 74.3 g · ha ^–1), postemergence S-metolachlor + terbuthylazine (937.5 + 562.5 g · ha ^–1), mesotrione + terbuthylazine (100 + 652 g · ha ^–1), terbuthylazine + mesotrione + S-metolachlor (656.3 + + 131.3 + 1093.8 g · ha ^–1), weed free (WF, hand weeding), and mechanical weeding (MW, hoeing) to assess weed control, corncob yield and net return. Variability in potential yield losses was observed between years due to weather conditions at the level of 30 to even 93%. Hand weeding was the most effective, but it is expensive and needs is labour consuming, unlike mechanical weeding which was the cheapest but simultaneously the least effective. Among pre- and postemergence applied herbicides, a mixture of terbuthylazine + mesotrione + S-metolachlor was the most efficacious weed control treatment. It gave high corncob yield and economic net return.

For a migrant, returning to his or her homeland after living abroad can be much anticipated, yet also daunting, especially if return includes other family members who may have little insight into the cultural traditions and life approaches of the homeland. Drawing on both qualitative and quantitative evidence from interviews and a survey of both Latvian nationals living abroad and returnees to Latvia, the anxieties concerning first-generation family return with (mostly) second-generation children are unravelled – particularly the challenges faced by the children. The paper explores the difference between an imagined family return to the homeland and the lived experience. Anxieties especially concern children’s readiness for school – lack of home-country language skills, curriculum disparities and the often unsympathetic attitude of teaching staff towards returnee pupils. Preparation in advance, a resilient mindset and an avoidance of comparisons with the host country are found to reduce return anxiety for both parents and children and to ease (re)integration into the homeland setting. Home-country government initiatives offering support measures to returnees also help to mitigate the challenges of return.

The article considers the issues of the value of invested capital, methods of its measurement and its growth mechanisms. The author draws attention to relationship between the value of capital and the paradigm of economics, which ultimately indicates the existence of connections between the effectiveness of investment and the philosophy of economics. The main purpose of the article is to identify abnormalities in the valuation of assets by investors due to their incorrect or incomplete understanding of the value growth mechanism, the effects of which may assume significance on a macroeconomic scale.

In this article, gold is analyzed from an investment perspective as an asset that allows you to increase your wealth. The analysis is twofold. First, it is about examining to what extent changes in gold prices in the world markets translate into changes in the prices of shares of companies that extract gold. Second, it was checked whether there is a financial leverage effect, which in this case means that changes in the price of shares of gold mining companies are greater than changes in the price of gold itself. Methodically, the Sharpe model was used and two basic parameters of the model were estimated, i.e. the intercept (alpha), and the beta coefficient as a measure of systematic risk, for the gold market and the equity market of gold mining companies and ET Fs based on these companies.
The research carried out in accordance with the logic of the Sharpe model shows that the obtained value of the alpha parameter for the stock market was positive, while for the gold market it was negative. At the same time, higher levels of this parameter are beneficial to the investor, which means that an advantage of the stock market over the gold market exists. In turn, the estimated beta for the stock market is much lower than for the gold market. The systematic risk level for stocks is 0.45, and for the gold market it is 1.98, which is a significant difference. The stocks of gold mining companies can be classified as defensive against the stock market (the rate of return of the gold mine stock is insensitive to market movements) and aggressive against the gold market (the rate of return of the gold mine shares reacts more strongly than the movement in the price of gold).

The paper deals with the issue of financial efficiency, measured by the arithmetic rate of return, of indirect financial investments in the area of strategic raw materials (hard coal, copper, crude oil). Two forms of indirect investments were analyzed: shares of natural resources companies listed on the Warsaw Stock Exchange and futures contracts for strategic commodities: hard coal, copper and crude oil.

The time of the analysis is the first 6 months of 2019 and 2020. The year 2019 was regarded as an analysis of the period of economic growth, and the year 2020 was the analysis of the period of economic crisis. The comparisons were made in two dimensions. Firstly, it whether indirect commodity investments show the characteristics of efficiency resilience to the time of the economic crisis was checked (by comparing the achieved rates of return in the two analyzed periods). Secondly, which of the analyzed forms of investment (stocks, contracts) gives better investment results during economic growth and economic crisis was compared.

As it was shown in the paper, indirect commodity investments do not show an above-average rate of return neither during economic growth nor economic crisis. The achieved rates of return on shares compared to changes in the WIG20 index in the analyzed first half of 2019 were negative. Only one company showed a positive and significantly higher than the market rate of return. Very similar results were achieved by the analyzed companies in 2020.

On the other hand, the analysis of prices and rates of return on commodity futures contracts showed that in the period of economic growth it is effective to take a long position on crude oil contracts and a short position on hard coal contracts. In a period of economic crisis, the opposite position is profitable due to the observed growth in hard coal prices and a significant drop in crude oil prices.

The answers to the research questions posed in the paper do not provide indications for recommending indirect forms of investment in commodities as an alternative to analogous forms of other sectors of the economy. The analysis shows that the impact of the economic situation on the efficiency of commodity investment is most noticeable for crude oil, and the least (among the analyzed commodities) for indirect copper-based investments.

The choice of financing sources made by coal mining companies reflects a number of macro- and microeconomic factors. The paper attempts to present only those that play the most important role in mining companies’ market activities. The structure of sources of financing mining companies’ operations is presented by computing the share of equity in liabilities and shareholders’ equity, the golden balance sheet rule showing the degree of financing of non-current assets through shareholders’ equity and the silver balance sheet rule which shows the ratio of long-term capital to non-current assets. Only a few mining companies can satisfy those two rules as they finance their economic activity through equity and short-term liabilities. Mining companies are not indebted. Their caution in incurring long- -term debt results from the implementation of high volatility of financial results, which are prone to the effects of the economic situation. The basic determinants of the choice of financing sources include the structure of assets, the rate of return on assets and companies’ ability to service debt. The high capital intensity of the mining sector is reflected in the large share of non-current assets in total assets, which in some mining companies exceeds 80% of total assets. The rates of return on assets vary widely and are influenced by fluctuations in coal prices at different phases of the market situation. They also have a significant impact on companies’ ability to service debt. Empirical research conducted by the author revealed that the structure of financing sources in Polish coal mining companies is like that of global mining corporations, as are the economic relations shaping this structure.

Migrants’ property ownership in their countries of origin is often understood through the prism of return: both intended and actual return mobilities. Applying a transnational optic, this article unpacks the relationships between migrants’ property ownership ‘back home’ and their reflections on future moves and stays, not limited to possible return. We draw on 80 semi-structured interviews conducted in 2020 with Polish and Romanian migrants living in Barcelona and Oslo. They left their homeland, sometimes following domestic migration or international migration to other countries, before arriving in Spain and Norway. Based on these case studies of East–West migration within Europe, we contribute to work recognising the ongoing complex and diversified nature of mobilities in Europe. First, we detail what migrants’ property ownership looks like in practice – forms of ownership, types of property, location. Second, we focus on how owning property in Poland or Romania intersects with migrants’ considerations about moving or staying in the future, beyond return. Considerations about future (im)mobility shed light on transnational relationships, as these evolve over time and across space. Furthermore, we find that transnational property ownership in their countries of origin reveals much about migrants’ relations with people and places ‘back home’ and reflects the known non-linearity of migration stories. Overall, however, transnational property ownership is a poor predictor of both return plans and intentions.

This article investigates the post-return experiences of highly skilled Belarusian professionals. I con-centrate on the socio-cultural aspects of highly skilled migration and view returnees as carriers of new experiences, ideas, and practices by studying the ways in which they apply various socio-cultural re-mittances to the different spheres of their lives. In particular, I argue that the formation and transmission of socio-cultural remittances are strongly heterogeneous and selective processes, which manifest them-selves to varying degrees not only in different people, but also in different aspects of people’s lives. The analysis of several socio-cultural remittances in private and public spheres shows that in some cases the socio-cultural remittances display strong gender differences. Moreover, the highly skilled returnees appear to be proactive remitters: some of them re-interpret and transform the socio-cultural remittances before transmitting them. The research draws on the analysis of 43 in-depth interviews with highly skilled professionals who returned to Belarus after long periods of time spent abroad.

Ethnic return migration is a widespread strategy for migrants from economically disadvantaged coun-tries. This article is about those ethnic return migrants who might successfully migrate thanks to their ancestors; their decision is based upon economic, pragmatic or rationalistic incentives aside from their diasporic feeling of belonging. Although this phenomenon has already been studied, scholars still mostly refer only to the benefits proposed by immigration policy as a key to understanding it. The impact of policy in the country of emigration on ethnic return migration is understudied. This article fills this gap. I found that when the Soviet Union introduced an attractive policy for Ukrainians/Russians in terms of study or work opportunities and the inhabitants in the Ukrainian Soviet Republic were quick to proclaim themselves as Ukrainians or Russians, the dissolution of the Soviet Union quickly changed this motiva-tion. Ukrainians with Czech ancestors started to aim at obtaining official status as Czech members of the diaspora because of the benefits proposed by the Czech government (mainly permanent residency). However, it is difficult to prove the required link to one’s Czech ancestors due to Soviet-era documents in which the column with the Czech nationality of people’s ancestors is often missing. These observa-tions lead to the conclusion that an attractive immigration policy aimed at the diaspora should not be treated as the only comprehensive explanation for ethnic return migration. Ethnic policy in the country of emigration also shapes this kind of migration and – in this concrete case – could even discourage ethnic return migrants.

The study considers remittances as part of the lifeworlds of immigrants in multiple interactions with return intentions and communication with those left behind. This is an alternative view of the standard approach to remittances as a possible source of development or as a variable to be explained by family solidarity, investment projects or the reasons for return. The key dependent variable is the home orien-tation of immigrants as a function of remittances, return intentions and communication behaviours, measured in quantitative and typological terms. The typological analysis of home orientation diverges from the standard approach, which is in terms of high or low intensity of cross-border activities of remitting or communicating between immigrants and those they have left behind. It argues for the fact that cross-border activities combine in different ways to generate specific social types of remitting prac-tices. The remitting behaviours of migrants are, in our approach, multidimensional, encompassing eco-nomic, social and cultural content. Three hypotheses are formulated on: 1) collective deprivation in remitting money; 2) survival–development–identification strategies of migrants’ families; and 3) higher predictability of home orientation compared to economic remitting behaviours. In this context, higher predictability means greater variation of the synthetic variable of home orientation by social, cultural and economic factors as compared to the impact of the same factors on the more abstract variable of economic remittances.

This paper describes and tries to explain return intentions of Polish, Romanian and Bulgarian labour migrants in the Netherlands. Previous research has often emphasised the temporary or ‘liquid’ char-acter of Central and Eastern European labour migration. We find that a substantial number of labour migrants intend to stay in the Netherlands for many years, and sometimes forever. Data from a survey of Central and Eastern European (CEE) labour migrants (Poles, Romanians, Bulgarians) in the Neth-erlands (N = 654), is used to test three hypotheses about return intentions. Economic success or fail-ure is not found to be related to the return intentions of migrants. Apparently, some migrants return after being successful in migration, whereas others return after having failed. Migrants with strong links with Dutch society have less strong return intentions, whereas migrants with strong transnation-al ties intend to return sooner.

The aim of the paper is to describe the main patterns and challenges of Ukrainian migration to Greece with reference to the consequences of the recent economic and social crisis in the host country on the migrants’ lives. Specifically, the paper discusses the impact of the legal framework related to migra-tion in four different periods. Historically, Greece was one of the first destinations attracting Ukraini-an migrants, but the migration flows have strongly decreased during the last years and a tendency for return migration has emerged. Among the key features is the fact that the migrant’s experience is deeply influenced and shaped by Greece’s policy response to migration. The paper will therefore spe-cifically examine the impact of the legislative measures on the mobility of the migrants.

The technology of high-pressure die-casting (HPDC) of aluminum alloys is one of the most used and most economical technology for mass production of castings. High-pressure die-casting technology is characterized by the production of complex, thin-walled and dimensionally accurate castings. An important role is placed on the effective reduction of costs in the production process, wherein the combination with the technology of high-pressure die-casting is the possibility of recycling using returnable material. The experimental part of the paper focuses on the analysis of a gradual increase of the returnable material amount in combination with a commercial purity alloy for the production of high-pressure die-castings. The returnable material consisted of the so-called foundry waste (defective castings, venting and gating systems, etc.). The first step of the experimental castings evaluation consisted of numerical simulations, performed to determine the points of the casting, where porosity occurs. In the next step, the evaluation of areal porosity and microstructural analysis was performed on experimental castings with different amounts of returnable material in the batch. The evaluation of the area porosity showed only a small effect of the increased amount of the returnable material in the batch, where the worst results were obtained by the casting of the alloy with 90% but also with 55% of the returnable material in the batch. The microstructure analysis showed that the increase in returnable material in the batch was visibly manifested only by a change in the morphology of the eutectic Si.

The authors present the results of experimental rig study on resistance forces in a rack and pinion steering system without power assistance of a small car with MacPherson front suspension. The influence of a harmonic steering angle excitation, with frequency ranging from I to 3 Hz, and different wheel load conditions on self-returnability, sensitivity, and friction forces in the steering system is studied. These characteristics are responsible for the car directional stability at high-speed of cruising or during braking maneuver, and influence comfort, effort, and good feeling of the car driver. On the basis of experimental results, some parameters (equivalent moment of friction forces and stiffness coefficients) of a simplified model are estimated for different excitations and load conditions.

This introductory paper sets the scene for the special issue. It describes the rationale for the collection – which has to do with the multiple geopolitical, economic and health-related events of the past 30 years – and summarises some of the overarching changes in East–West migration dynamics within and beyond Europe over this period. However, this introductory article and the nine papers that follow also challenge and nuance the predominant East–West framing of recent intra-European migration. They identify numerous other trends: return migration and immigration into CEE countries, intra-CEE migrations and a range of issues relating to the impacts of migration on children and youth.

The Return Directive allows for the detention of minors during removal proceedings, but only as a ‘last resort’, for ‘the shortest appropriate period of time’ and with the primary consideration of the ‘best interests of the child’. While the Directive attempted to provide some safeguards to minors, these are undermined throughout, as the enforcement of such provisions depends significantly on their incorpo-ration into domestic law. I provide an overview of the EU detention policy, map the existing domestic law framework in light of the benchmarks set out by the Directive and human rights instruments, and argue that there is a lack of consistency in the case study of Poland. In doing so, I analyse the limitations to detaining minors in light of the human rights treaties, of the jurisprudence of the Court of Justice of the European Union and the European Court of Human Rights, and of the role of the monitoring body – the Committee on the Rights of the Child. In discussing the different types of jurisprudence, I illustrate how different bodies speak with the same voice on the detention of minors. Based on these findings I attempt to contribute to the policy debate on how to reconcile and balance the implications of two policy objectives affecting irregular migrant children - the protection of minors and immigration en-forcement. I identify detention policy aspects, for which the legislation should be further harmonised, and I develop models of good practices based on other Member States’ practices, thus providing a set of policy recommendations to the Polish legislator as to what fair and effective irregular migration governance might entail.