Browsing KAE Working Papers by Title
Now showing items 28-47 of 105
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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, ... -
Flowers vs garbage trucks: which type of local government investment has the greatest impact on economic growth
(2023-03)Recently, there has been a rise in research focused on determining the magnitude of the fiscal multiplier. One aspect of this research involves estimating the fiscal multiplier of specific components of government revenues ... -
For whom the bill tolls: redistributive consequences of a monetary-fiscal stimulus
(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 ... -
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 ... -
Generation of regional input-output tables: a spatial econometric approach with illustrative simulations for France, Germany and Poland
(2018-05)This paper investigates the construction of multisector-multiregion input-output tables by using spatial econometric methods. I demonstrate that, under reasonable assumptions, the problem of finding Leontief's technical ... -
Global Value Chains and Equilibrium Exchange Rate: Evidence from Central European Economies
(2024-03)This paper proposes an extension of the fundamental equilibrium exchange rate (FEER) model that accounts for the trade linkages within the Global Value Chains (GVCs). In the modified FEER framework, both backward and forward ... -
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 ... -
Hardware and Software over the Course of Long-Run Growth: Theory and Evidence
(2023-09)Output is generated through purposefully initiated physical action. Production needs energy and information, provided by respective factors: hardware (“brawn”), including physical labor and physical capital, and software ... -
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, ... -
Have European natural gas prices decoupled from crude oil prices? Evidence from TVP-VAR analysis
(2022-06)Unprecedented increases in European natural gas prices observed in late 2021 and early 2022 raise a question about the sources of these events. In this article we investigate this topic using a time-varying parameters ... -
How do firms respond to demand and supply shocks?
(2022-04-12)The study aims to identify the granular demand and productivity shocks, their properties, and the responses of the important firm-level variables to these shocks. We use comprehensive data from the Polish enterprise sector ... -
How regional business cycles diffuse across space and time : evidence from a Bayesian Markov switching panel of GDP and unemployment in Poland
(2023-01)We investigate the regional business cycles at NUTS-3 granularity in Poland (N=73) using two variables in parallel: GDP dynamics and unemployment. The model allows for both idiosyncratic business cycle fluctuations in a ... -
The impact of firms' expectations & adjustments on the productivity cost of illness
(2016-05)Sickness-related 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 cost-effectiveness of a treatment. The ... -
Inherit Money or Brains? The Role of Inheritance and Its Taxation in OLG Analysis
(2024-12)Motivated by ongoing debates about the effectiveness of inheritance taxation in reducing wealth concentration—especially in contexts marked by strong family ties and rising wealth accumulation—this study employs an overlapping ... -
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, ... -
Intergenerational redistributive effects of monetary policy
(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 ... -
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 ... -
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 ... -
Is Poland at risk of the zero lower bound?
(2016-07)In early 2015, the policy (open market operations) rate of Narodowy Bank Polski was reduced to an all-time low of 1.5%. At the same time, prices of consumer goods and services dropped by 1.5% in year-on-year terms. This ... -
Isoelastic Elasticity of Substitution Production Functions
(2016-01)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, ...
