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    • A Theory of The Procyclical Effectiveness of Forward Guidance 

      Kopiec, Paweł (2022-12)
      I study the dependence of the forward guidance effectiveness on the level of economic slack. I use the model with price rigidities and uninsured unemployment risk and apply both analytical and numerical methods to study ...

    • 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 ...

    • Monetary-Fiscal Forward Guidance 

      Kopiec, Paweł (2025-03)
      When central banks announce future interest rate cuts, the expected costs of servicing government debt decrease, freeing up additional resources in future budgets. This paper demonstrates that if the rational-expectations ...