Browsing KAE Working Papers by Title
Now showing items 63-82 of 104
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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 ... -
On journal rankings and researchers' abilities
(2023-09)Over the last few years, ranking lists of academic journals have become one of the key indicators for evaluating individual researchers, departments and universities. How to optimally design such rankings? What can we learn ... -
On the limits of macroprudential policy
(2016-02)This paper studies how macroprudential policy tools can complement the interest rate-based monetary policy in achieving a selection of dual stabilization objectives. We show analytically in a canonical New Keynesian model ... -
On the Optimal Labor Income Share
(2018-02)Labor's share of income has attracted interest in recent years reflecting its apparent decline. These falls, witnessed across many countries, are usually deemed undesirable. Any such assertion, however, begs the question ... -
On the sources of economic growth, structural consistency of agent-based models and mental-accounting consumer behaviour
(2022-03-18)An assessment of the sources of growth in agent- and general equilibrium-based models is presented, along a discussion of the strengths and weaknesses of existing approaches to growth modelling. The empirical and theoretical ... -
On the trade-offs in money market benchmarks' stabilisation
(2018-09)We propose a theoretical stochastic set-up for a panel of contributors to a volume weighted raw money market index, which is the main contribution of this research. 'The hypothetical problems with: changes in the panel's ... -
On uniqueness of time-consistent Markov policies for quasi-hyperbolic consumers under uncertainty
(2016-11)We give a set of sufficient conditions for uniqueness of a time-consistent Markov stationary consumption policy for a quasi-hyperbolic household under uncertainty. To the best of our knowledge, this uniqueness result is ... -
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 ... -
Quantitative Easing During the COVID-19 Pandemic: A Cross-Country Study
(2023-06)This paper estimates the financial market and macroeconomic effects of central bank asset purchases (quantitative easing, QE) in 16 economies which have launched asset purchases for the first time in response to the COVID-19 ... -
Quantitative Easing in the US and Financial Cycles in Emerging Markets
(2021-03)Large international capital movements tend to be associated with strong fluctuations in asset prices and credit, contributing to domestic financial cycles and posing challenges for stabilization policies, especially in ... -
R&D Capital : An Engine of Growth
(2022-05-10)Research and development (R&D) requires not only skilled research work, but also dedicated machinery and equipment: R&D capital. In this paper I demonstrate that R&D, producing labor-augmenting ideas, and the accumulation ... -
Randomness or stock-flow: Which mechanism describes labour market matching in Poland?
(2016-04)I compare random, stock-flow and job queuing models to determine which mechanism prevails in the Polish labour market. I use monthly registered unemployment data for the period 1999 - 2013 and econometrically correct for ... -
Reconstruction of the Social Cash Transfers System in Poland and Household Well-being : 2015 - 2018 Evidence
(2022-09)In this study, the impact of social benefits on poverty, and economic activity in Poland is examined. In 2016 a huge programme of cash transfers, referred to as Family 500+, was introduced. It was intended to support ... -
Reforming housing rental market in a life-cycle model
(2017-09)Housing rental market share in most countries around the world is low. We explore the reasons behind this underdevelopment with a survey conducted among a representative group of 1005 Poles. It turns out that strong tenure ... -
Regional economic impact assessment with missing input-output data: a spatial econometrics approach for Poland
(2016-03)We propose a novel method of constructing multisector-multiregion input-output tables, based on the standard multisector tables and the tools of spatial econometrics. Voivodship-level (NUTS-2) and subregion-level data ... -
Repeated moral hazard with costly self control
(2016-10)We consider a repeated principal-agent model, where a single agent exhibits problems of self control modelled using Gul and Pesendorfer (2001) type temptation preferences. In such a setting, for a parameterized strength ... -
The role of fractional-reserve banking in amplifying credit booms: evidence from panel data
(2017-03)I use panel data on 20 countries to analyze the links between savings (defined as time deposits and savings accounts) and credit extended by banks. Credit growth is not related to prior changes in savings, at least not in ... -
The Role of the Monetary Policy Stance for the Goverment Spending Multiplier in Poland
(2022-11)We empirically explore monetary and fiscal policy coordination in Poland. In particular, we study whether the empirical effects of a government spending shock on output depend on the stance of monetary policy. We find no ... -
The role of uncertainty and sentiment for intraday volatility connectedness between oil and financial markets
(2023-11)We quantify intraday volatility connectedness between oil and key financial assets and assess how it is related to uncertainty and sentiment measures. For that purpose, we integrate the well-known spillover methodology ... -
Smets and Wouters model estimated with skewed shocks - empirical study of forecasting properties
(2016-12)In this paper we estimate a Smets and Wouters (2007) model with shocks following a closed skew normal distribution (csn) introduced in Gonzalez-Farias et al. (2004), which nests a normal distribution as a special case. In ...
