Przeglądaj KAE Working Papers według tematu "monetary policy"

Wyświetlanie pozycji 1-5 z 5

    • On the limits of macroprudential policy 

      Marcin, Kolasa (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 ...

    • 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 ...

    • Monetary policy and COVID-19 

      Brzoza-Brzezina, Michał; Kolasa, Marcin; Makarski, Krzysztof (2021-07)
      We study the macroeconomic effects of the COVID-19 epidemic in a quantitative dynamic general equilibrium setup with nominal rigidities. We evaluate various containment policies and show that they allow to dramatically ...

    • The Role of the Monetary Policy Stance for the Goverment Spending Multiplier in Poland ​ 

      Haug, Alfred; Łyziak, Tomasz; Sznajderska, Anna (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 ...

    • A Theory of The Procyclical Effectiveness of Forward Guidance 

      Kopiec, Paweł (2022-12)
      I study the dependence of the forward guidance effectiveness on the level of economic slack. I use the model with price rigidities and uninsured unemployment risk and apply both analytical and numerical methods to study ...