Browsing by Author "Bielecki, Marcin"

Now showing items 1-3 of 3

    • Demographics and the natural interest rate in the euro area 

      Bielecki, Marcin; Brzoza-Brzezina, Michał; Kolasa, Marcin (2020-07)
      We investigate the impact of demographics on the natural rate of interest (NRI) in the euro area, with a particular focus on the role played by economic openness, migrations and pension system design. To this end, we ...

    • Intergenerational redistributive effects of monetary policy 

      Bielecki, Marcin; Brzoza-Brzezina, Michał; Kolasa, Marcin (2021-03)
      This paper investigates the distributional consequences of monetary policy across generations. We use a life-cycle model with a rich asset structure as well as nominal and real rigidities calibrated to the euro area using ...

    • Labor market institutions and the business cycle: The role of unemployment fears 

      Bielecki, Marcin; Kolasa, Marcin; Kopiec, Paweł (2023-12)
      We study the effects of labor market institutions (LMIs) in a general equilibrium model with search and matching frictions, endogenous separations, nominal rigidities, and uninsurable unemployment risk. By contrasting the ...