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Wyświetlanie pozycji 1-4 z 4

    • Joint identification of monopoly and monopsony power 

      Gradzewicz, Michał (2020-06)
      The article presents a generalization of an identification scheme of a monopolistic markup proposed by De Loecker and Warzynski (2012). We showed the relation between a price markup and factor wedges arising either due to ...

    • 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 ...

    • For whom the bill tolls: redistributive consequences of a monetary-fiscal stimulus 

      Brzoza-Brzezina, Michał; Jabłońska, Julia; Kolasa, Marcin; Makarski, Krzysztof (2024-02)
      During the COVID-19 pandemic, governments in the euro area sharply increased spending, while the European Central Bank eased financing conditions. We use this episode to assess how such a concerted monetary-fiscal stimulus ...