Browsing KAE Working Papers by Title
Now showing items 3958 of 100

The impact of firms' expectations & adjustments on the productivity cost of illness
(201605)Sicknessrelated absenteeism hinders firms' productivity and reduces output, an effect referred to as indirect cost (IC) and often included when assessing the burden of an illness or costeffectiveness of a treatment. The ... 
Institutional determinants of export competitiveness among the EU countries: evidence from Bayesian model averaging
(201904)Although the impact of institutions has been broadly studied in the literature on economic growth, their impact on international trade is less wellestablished. We aim to fill this gap by creating an extended database that, ... 
Intergenerational redistributive effects of monetary policy
(202103)This paper investigates the distributional consequences of monetary policy across generations. We use a lifecycle model with a rich asset structure as well as nominal and real rigidities calibrated to the euro area using ... 
International confidence spillovers and business cycles in small open economies
(202005)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 ... 
International information flows, sentiments and crosscountry business cycle fluctuations
(202003)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 ... 
Is Poland at risk of the zero lower bound?
(201607)In early 2015, the policy (open market operations) rate of Narodowy Bank Polski was reduced to an alltime low of 1.5%. At the same time, prices of consumer goods and services dropped by 1.5% in yearonyear terms. This ... 
Isoelastic Elasticity of Substitution Production Functions
(201601)We generalize the normalized Constant Elasticity of Substitution (CES) production function by allowing the elasticity of substitution to vary isoelastically with (i) relative factor shares, (ii) marginal rates of substitution, ... 
Iterative Monotone Comparative Statics
(202202)For an increasing upper order hemicontinuous correspondence F selfmapping sigmacomplete lattice A, we first provide tight fixedpoint bounds for sufficiently large iterations on F starting from any initial point a in A. ... 
Joint identification of monopoly and monopsony power
(202006)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 ... 
Labor market institutions and the business cycle: The role of unemployment fears
(202312)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 ... 
Learning own preferences through consumption
(202204)This paper provides theoretical foundations for preference discovery theory. We propose to relax the assumption that the consumer has perfect knowledge of their own preferences, so that the consumer knows only the subjective ... 
Learning, experimentation and the convergence of the discovered preferences
(202403)In this article I study whether the interim preferences of the consumer can be expected to converge to their real preferences in the process of preference discovery. I construct a subjective expected utility model of the ... 
Local versions of Tarski’s theorem for correspondences
(202303)For a strong set order increasing (resp., strongly monotone) upper order hemicontinuous correspondence mapping a complete lattice A into itself (resp., a sigmacomplete lattice into itself), we provide conditions for tight ... 
Macroeconomic Effects of Quantitative Easing Using Midsized Bayesian Vector Autoregressions
(202110)The paper estimates macroeconomic effects and decomposes transmission channels of quantitative easing in the United States using 15variable Bayesian vector autoregressive model with stochastic search variable selection ... 
Mapping the Dimensions of Social Capital
(201703)We provide a novel survey dataset of a representative sample of the Polish population (n = 1000), allowing for a detailed quantification of Bourdieu's (1986) definition of social capital as the aggregate of resources ... 
Markov distributional equilibrium dynamics in games with complementarities and no aggregate risk
(202007)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 ... 
Markovian and multicurve friendly parametrisation of HJM model used in valuation adjustment of interest rate derivatives
(201806)We consider feasible HeathJarrowMorton framework specifications that are easily implementable in XVA engines when pricing linear and nonlinear interest rate derivatives in multicurve environment. Our particular focus ... 
Measuring the uncertainty of shadow economy estimates using Bayesian and frequentist model averaging
(202003)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 ... 
Monetary policy and COVID19
(202107)We study the macroeconomic effects of the COVID19 epidemic in a quantitative dynamic general equilibrium setup with nominal rigidities. We evaluate various containment policies and show that they allow to dramatically ... 
Multiple unemployment spells duration in Poland
(201608)I study multiple unemployment spells. I refer to Poland, as this country experiences high incidence of the longterm unemployment and long mean incomplete unemployment duration. I estimate conditional risk set model for ...