Browsing KAE Working Papers by Issue Date
Now showing items 41-60 of 105
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Unexplained native-immigrant wage gap in Poland in 2015-2016. Insights from the surveys in Warsaw and in Lublin
(2018-10)In the modern history, Poland has never experienced large wave of labour immigration comparable to observed since 2014. Massive immigration provoked a public discussion about the consequences of immigration for the Polish ... -
The Hardware-Software Model: A New Conceptual Framework of Production, R&D, and Growth with AI
(2019-02)The article proposes a new conceptual framework for capturing production, R&D, and economic growth in aggregative models which extend their horizon into the digital era. Two key factors of production are considered: hardware, ... -
Institutional determinants of export competitiveness among the EU countries: evidence from Bayesian model averaging
(2019-04)Although the impact of institutions has been broadly studied in the literature on economic growth, their impact on international trade is less well-established. We aim to fill this gap by creating an extended database that, ... -
Fiscal Deficit Forecasts by International Institutions: Evidence for a Double Standard?
(2019-05)Fiscal forecasts produced by international financial institutions came under strong criticism after the Eurozone sovereign debt crisis due to overly optimistic estimates for heavily indebted countries like Spain, Italy, ... -
Are Central Banks' Research Teams Fragile Because of Groupthink?
(2019-12)In the recent years, the great majority of central banks have globally failed to realize inflation targets. We attempt to answer a question of whether such failure resulted from insufficient organization of economic research ... -
International information flows, sentiments and cross-country business cycle fluctuations
(2020-03)Business cycles are strongly correlated between countries. One possible explanation (beyond traditional economic linkages like trade or finance) is that consumer or business sentiments spread over boarders and a ect cyclical ... -
Measuring the uncertainty of shadow economy estimates using Bayesian and frequentist model averaging
(2020-03)Economic literature provides little discussion on the uncertainty around the macroeconometric shadow economy estimates. We fill this gap by deriving the measurement error of the shadow economy estimates stemming from the ... -
Automation, Partial and Full
(2020-04)When some steps of a complex, multi-step task are automated, the demand for human work in the remaining complementary sub-tasks goes up. In contrast, when the task is fully automated, the demand for human work declines. ... -
International confidence spillovers and business cycles in small open economies
(2020-05)The economic literature has for a long time been looking for explanations of a very strong international correlation of business cycles. This paper shows empirically that common fluctuations can to some degree be the effect ... -
Joint identification of monopoly and monopsony power
(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
(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 ... -
One model or many? Exchange rates determinants and their predictive capabilities
(2020-07)In this paper the Dynamic Bayesian Model Averaging (DMA) algorithm is used to establish the key determinants of the nominal exchange rates of 5 currencies: CAD, EUR, GBP, CHF and JPY against the US dollar. My results ... -
Markov distributional equilibrium dynamics in games with complementarities and no aggregate risk
(2020-07)We present a new approach for studying equilibrium dynamics in a class of stochastic games with a continuum of players with private types and strategic complementarities. We introduce a suitable equilibrium concept, called ... -
Unravelling the Markups Changes: The Role of Demand Elasticity and Concentration
(2020-11)We propose a framework allowing to identify sources changes in aggregate markups. Our approach derives from the conjectural variation theory and allows to evaluate the role of price elasticity of demand as well as ... -
Time consistent equilibria in dynamic models with recursive payoffs and behavioral discounting
(2020-11)We prove existence of time consistent equilibria in a wide class of dynamic models with recursive payoffs and generalized discounting involving both behavioral and normative applica-tions. Our generalized Bellman equation ... -
GDP Effects of Pandemics: A Historical Perspective
(2020-12)The paper estimates dynamic effects of pandemics on GDP per capita with local projections, controlling for the effects of wars and weather conditions, using a novel dataset that covers 33 countries and stretches back to ... -
On complementary symmetry and reference dependence
(2020-12)This paper reevaluates the complementary symmetry hypothesis and the supporting experimental evidence. Originally the hypothesis was stated for binary risky prospects. We generalize the hypothesis to arbitrary state-contingent ... -
To What Extent does Convergence Explain the Slowdown in Potential Growth of the CEE Countries Following the Global Financial Crisis?
(2020-12)The paper estimates a simple growth model with time-varying cross-country fixed effects on a panel of high-income countries and decomposes changes in potential growth into convergence, movements in the steady state ... -
Central bank credibility, long-term yields and the effects of monetary integration
(2021-01)Forming a monetary union implies equalization of short-term interest rates across the member states as monetary policy is delegated to a common central bank, but also leads to integration of risk-free bond markets. In this ... -
The Great Lockdown: information, noise and macroeconomic fluctuations
(2021-01)This paper argues that noisy information about lockdown can cause undesired economic fluctuations. We construct a New Keynesian model with imperfect information about how long the lockdown would last. On the one hand, a ...
