KAE Working Papers: Odstanio dodane
Wyświetlanie pozycji 81-100 z 112
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To What Extent does Convergence Explain the Slowdown in Potential Growth of the CEE Countries Following the Global Financial Crisis?
(2020-12)The paper estimates a simple growth model with time-varying cross-country fixed effects on a panel of high-income countries and decomposes changes in potential growth into convergence, movements in the steady state ... -
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 ... -
Unravelling the Markups Changes: The Role of Demand Elasticity and Concentration
(2020-11)We propose a framework allowing to identify sources changes in aggregate markups. Our approach derives from the conjectural variation theory and allows to evaluate the role of price elasticity of demand as well as ... -
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, ... -
Time consistent equilibria in dynamic models with recursive payoffs and behavioral discounting
(2020-11)We prove existence of time consistent equilibria in a wide class of dynamic models with recursive payoffs and generalized discounting involving both behavioral and normative applica-tions. Our generalized Bellman equation ... -
What Will Drive Long-Run Growth in the Digital Age?
(2021-07)This paper considers the prospective sources of long-run growth in the future. Historically, in the industrial era and at the early stage of the digital era (which began approximately in the 1980s) the main growth engine ... -
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 ... -
Markov distributional equilibrium dynamics in games with complementarities and no aggregate risk
(2020-07)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 ... -
Joint identification of monopoly and monopsony power
(2020-06)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 ... -
Demographics and the natural interest rate in the euro area
(2020-07)We investigate the impact of demographics on the natural rate of interest (NRI) in the euro area, with a particular focus on the role played by economic openness, migrations and pension system design. To this end, we ... -
Automation, Partial and Full
(2020-04)When some steps of a complex, multi-step task are automated, the demand for human work in the remaining complementary sub-tasks goes up. In contrast, when the task is fully automated, the demand for human work declines. ... -
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, ... -
Are Central Banks' Research Teams Fragile Because of Groupthink?
(2019-12)In the recent years, the great majority of central banks have globally failed to realize inflation targets. We attempt to answer a question of whether such failure resulted from insufficient organization of economic research ... -
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 ... -
Measuring the uncertainty of shadow economy estimates using Bayesian and frequentist model averaging
(2020-03)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 ... -
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 ... -
Why may large economies suffer more at the zero lower bound?
(2016-06)This paper compares the consequences of hitting the zero lower bound in small open and large closed economies. I costruct a two-economy New Kenynesian model and calibrate it so that one economy is small and open and the ... -
Estimating the membership function of the fuzzy willingness-to-pay/accept for health via Bayesian modelling
(2016-05)Determining how to trade off individual criteria is often not obvious, especially when attributes of very different nature are juxtaposed, e.g. health and money. The difficulty stems both from the lack of adequate market ... -
Efficiency in spatially disaggregated labour market matching
(2016-05)We analyse the efficiency in a labour market matching process. We contribute to the literature by comparing different spatial aggregation levels - NUTS-1 to NUTS-4 and analysing monthly and annual perspectives. We use data ... -
Consumption modelling using categorisation-enhanced mental accounting
(2023-07)Credibly representing category-of-goods mental accounting in an intertemporal optimisation framework is notoriously difficult, as this modelling approach imposes interrelations between the demand for different categories ...
