The purpose of the article is to evaluate the forecasting performance of dynamic factor models in forecasting inflation in the Polish economy. The factor models are based on the assumption that the behavior of most ...

The paper presents the analysis of the long run causality behaviour between money and prices in the Polish economy during the transition period. The study makes use of the monetary inflation model known as the P-star model, ...

This paper uses a restricted factor model to estimate the HICP index excluding relative prices changes. The index thus obtained, hereinafter referred to as pure inflation, demonstrates stronger relationship to the central ...

I confirm the foregoing state of the art for inflation and well-being correlation while filling the gap in the literature and estimating the effects of individuals’ inflation perception on well-being. I also discover the ...

The paper investigates the price system and the wage equation in the presence of taxes. Price formation is analysed at three levels: producer’s prices, trade in consumer goods and, separately, in services, and at the ...

This paper examines shocks to inflation expectations and argues that distinguishing between households’ and firms’ expectations is crucial for understanding their macroeconomic role. First, using an analytical example, I ...

The purpose of this article is to introduce an original macro code written in SAS 4GL. This macro is used to automate the process of forecasting with dynamic factor analysis. Automation of the process helps to save ...

This article quantifies the effects of supply chains disruptions on inflation in European economies. We apply the local projections method in a panel framework and estimate responses of nine measures of consumer and producer ...

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 ...

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 ...