KAE Working Papers: Odstanio dodane
Wyświetlanie pozycji 21-40 z 112
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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 ... -
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 ... -
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 ... -
A Theory of The Procyclical Effectiveness of Forward Guidance
(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 ... -
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 ... -
Currency demandand MIMIC models : towards a structured hybrid model-based estimation of the shadow economy size
(2017-09)Model-based econometric techniques of the shadow economy estimation have been increasingly popular, but a systematic approach to getting the best of their complementarities has so far been missing. We review the dominant ... -
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 ... -
Unraveling the economic performance of the CEEC countries. The role of exports and global value chains
(2018-02-08)In this study we assess the importance of exports and global value chains (GVC) participation for economic growth. Using novel methods and an extensive dataset, we decompose GDP growth in the Central and Eastern European ... -
Does a bank levy increase frictions on the interbank market?
(2018-03)The crisis has shown that a drop in liquidity, as well as the shortened maturity of interbank transactions, has caused many problems for banks. We analyze how the introduction of a bank levy on bank assets ... -
The Digital Era, Viewed From a Perspective of Millennia of Economic Growth
(2018-04)I propose a synthetic theory of economic growth and technological progress over the entire human history. Based on this theory as well as on the analogies with three previous eras (the hunter-gatherer era, the agricultural ... -
The non-linear nature of country risk and its implications for DSGE models
(2018-05)Country risk premia can substantially affect macroeconomic dynamics. We concentrate on one of their most important determinants - a country’s net foreign asset position and - in contrast to the existing research - investigate ... -
Value relevance of companies' financial statements in Poland
(2016-08)Paper presents three attempts to model the relationship between financial reports of the companies listed on the Warsaw Stock Exchange and their market valuation. Main sections of the paper include: (1) overview of the ... -
Endogenous Labor Share Cycles: Theory and Evidence
(2016-09)Based on long US time series we document a range of empirical properties of the labor's share of GDP. We identify its substantial medium-to-long run, pro-cylical swings and show that most of its variance lies beyond ... -
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 ... -
An experiment on temptation and attitude towards paternalism
(2016-10)In this project we investigate experimentally the link between self-control and attitude towards paternalism in a principal-agent framework. This allows us to distinguish between models of costly self-control and models ... -
Multiple unemployment spells duration in Poland
(2016-08)I study multiple unemployment spells. I refer to Poland, as this country experiences high incidence of the long-term unemployment and long mean incomplete unemployment duration. I estimate conditional risk set model for ... -
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 ... -
Equilibrium foreign currency mortgages
(2016-12)This paper proposes a novel explanation for why foreign currency denominated loans to households have become so popular in some emerging economies. Our argument is based on what we call the debt limit channel, which arises ... -
Does foreign sector help forecast domestic variables in DSGE models?
(2016-12)This paper evaluates the forecasting performance of several small open economy DSGE models relative to a closed economy benchmark using a long span of data for Australia, Canada and the United Kingdom. We find that opening ... -
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 ...
