Publications

Publications of the NBP staff in the ISI Master Journal List

2015

  • Adam, M., Bańbuła, P., Markun, M. (2015): “International Dependence and Contagion across Asset Classes: The Case of Poland,” Czech Journal of Economics and Finance (Finance a uver), vol. 65, no. 3, 254-270.
  • Bielecki, M., Goraus, K., Hagemejer, J., Makarski, K., Tyrowicz, J. (2015): “Small assumptions (can) have a large bearing: evaluating pension system reforms with OLG models,” Economic Modelling, vol. 48(C), 210-221.
  • Brzoza-Brzezina, M., Kotłowski, J., Wierus, K. (2015): ”Can interest rate spreads stabilize the euro area?,” Applied Economics, vol. 47, Issue 34-35, 3696-3709.
  • Brzoza-Brzezina, M., Kolasa, M., Makarski, K. (2015): “Macroprudential policy and imbalances in the euro area,” Journal of International Money and Finance, vol. 51, 137-154.
  • Brzoza-Brzezina, M., Kolasa, M., Makarski, K. (2015): “A penalty function approach to occasionally binding credit constraints,” Economic Modelling, vol. 51(C), 315-327.
  • Gębka, B., Serwa, D. (2015): “The elusive nature of motives to trade: Evidence from international stock markets,” International Review of Financial Analysis, vol. 39, 147–157.
  • Growiec, J. (2015): “On the modeling of size distributions when technologies are complex,” Journal of Mathematical Economics, vol. 60, 1-8.
  • Growiec, J., Growiec, K. (2015): “Bridging Social Capital and Individual Earnings: Evidence for an Inverted U,” Social Indicators Research, vol. 122, no. 1, 1-31.
  • Growiec, J., Groth, Ch. (2015): “On aggregating human capital across heterogeneous cohorts,” Mathematical Social Sciences, vol. 78, 21-38.
  • Hagemejer, J., Makarski, K., Tyrowicz, J. (2015): “Unprivatizing the pension system: the case of Poland,” Applied Economics vol. 47, Issue 8, 833-852.
  • Hałka, A., Łyziak, T. (2015): “How to Define the Consumer Perceived Price Index? An Application to Polish Data,” Eastern European Economics, vol. 53, Issue 1, 39-56.
  • Jabłecki, J., Gątarek, D. (2015): “A Simple Model of Correlated Defaults with Application to Repo Portfolios,” The Journal of Derivatives, vol. 23, no. 2, 8–23.
  • Kocięcki, A., Rubaszek, M., Ca'Zorzi, M. (2015): “Bayesian forecasting of real exchange rates with a Dornbusch prior,” Economic Modelling, vol. 46, 53-60.
  • Kolasa, M., Rubaszek, M. (2015): “How frequently should we reestimate DSGE models?,” International Journal of Central Banking, vol. 11, no. 4 , 279-305.
  • Kotłowski, J. (2015): “Do central bank forecasts matter for professional forecasters?,” Czech Journal of Economics and Finance (Finance a uver), vol. 66, no. 6, 432-454.
  • Ohl, B., Mäkinen, T. (2015): “Information acquisition and learning from prices over the business cycle,” Journal of Economic Theory, vol. 158, part B, 585-633.
  • Pawłowska, M., Serwa, D., Zajączkowski, S. (2015): International Banking and Liquidity Risk Transmission: Evidence from Poland,” IMF Economic Review, vol. 63, no. 3, 585-605.
  • Stanisławska, E. (2015): “Interest Rate Pass-Through in Poland: Evidence from Individual Bank Data,” Eastern European Economics, vol. 53, Issue 1, 3-24.
  • Suda, J., Singh, A., Stone, S. (2015): “Monetary policy and the financial sector,” Economics Letters, vol. 132, 82-86.
  • Tyrowicz, J., van der Velde, L., Goraus, K. (2015): “What is the true gender wage gap? A comparative analysis using data from Poland,” Review of Income and Wealth.
  • Tyrowicz, J., Goraus, K., van der Velde, L., Siwińska, J. (2015): “Language and (the estimates of) the gender wage gap,” Economics Letters, vol. 136, 165-170.

2014

  • Borys, P., Rzońca, A., Ciżkowicz, P. (2014): “Panel Data Evidence on the Effects of Fiscal Policy Shocks in the EU New Member States”, Fiscal Studies, Institute for Fiscal Studies, vol. 35(2), 189-224.
  • Brzoza-Brzezina, M. (2014): “Financial Frictions and Macroprudential Policy”, International Journal of Central Banking, vol. 10(2), 249-261.
  • Brzoza-Brzezina, M., Kolasa, M. , Jacquinot, P. (2014): “Can We Prevent Boom-Bust Cycles During Euro Area Accession?”, Open Economies Review, vol. 25(1), 35-69.
  • Brzoza-Brzezina, M., Kotłowski J. (2014): “Measuring the Natural Yield Curve”, Applied Economics, vol. 46(17), 2052-2065.
  • Brzoza-Brzezina, M., Makarski, K., Wesołowski, K. (2014): “Would it have paid to be in the eurozone?”, Economic Modelling, vol. 41(C), 66-79.
  • Growiec, J., Growiec, K. (2014): “Social Capital, Trust, and Multiple Equilibria in Economic Performance”, Macroeconomic Dynamics, vol. 18, 282-315.
  • Growiec, J., Growiec, K. (2014): “Trusting Only Whom You Know, Knowing Only Whom You Trust: The Joint Impact of Social Capital and Trust on Happiness in CEE Countries”, Journal of Happiness Studies, vol. 15(5), 1015-1040.
  • Hałka, A., Kotłowski, J. (2014): “Does the Domestic Output Gap Matter for Inflation in a Small Open Economy”, Eastern European Economics, vol. 52(3), 5-32.
  • Kolasa, M. (2014): “Real convergence and its illusions”, Economic Modelling, vol. 37(C), 79-88.
  • Kolasa, M., Lombardo, G. (2014): “Financial Frictions and Optimal Monetary Policy in an Open Economy”, International Journal of Central Banking, vol. 10(1), 43-94.
  • Łyziak, T. (2014): “Formation of Inflation Expectations by Different Economic Agents. The Case of Poland”, Eastern European Economics, vol. 51(6), 5-33.
  • Łyziak, T., Mackiewicz-Łyziak, J. (2014) “Do Consumers in Europe Anticipate Future Inflation? Has It Changed Since the Beginning of the Financial Crisis?”, Eastern European Economics, vol. 52(3), 5-32.
  • Rubaszek, M., Serwa D. (2014): “Determinants of credit to households: An approach using the life-cycle model”, Economic Systems, vol. 38(4), 572-587.
  • Sznajderska, A. (2014): “Asymmetric effects in the Polish monetary policy rule”, Economic Modelling, vol. 36, 547-556.
  • Olszak, M., Pipień, M. (2014): “Cross-country linkages as determinants of procyclicality of loan loss provisions”, The European Journal of Finance, dostępny na stronie internetowej EJF.
  • Tyrowicz, J., Liberda, B., Smyk, M. (2014): “Age–productivity patterns in talent occupations for men and women: a decomposition”, Post-Communist Economies, vol. 26(3), 401-414.

2013

  • Brzoza-Brzezina, M., Kotłowski, J., Miśkowiec, A. (2013): “How forward-looking are central banks? Some evidence from their forecasts,” Applied Economic Letters, 20(2), 142–146.
  • Brzoza-Brzezina, M. and Kolasa, M. (2013): “Bayesian evaluation of DSGE models with financial frictions,” Journal of Money, Credit and Banking, 45(8), 1451–1476.
  • Brzoza-Brzezina, M., Kolasa, M., Koloch, G., Makarski, K., Rubaszek, M. (2013): “Monetary policy in a non-representative agent economy: A survey,” Journal of Economic Surveys, 27(4), 641–669.
  • Brzoza-Brzezina, M., Kolasa, M., Makarski, K. (2013): “The anatomy of standard DSGE models with financial frictions,” Journal of Economic Dynamics and Control, 37(1), 32–51.
  • Gradzewicz, M. and Makarski, K. (2013): “The business cycle implications of the euro adoption in Poland,” Applied Economics, 45(17), 2443–2455.
  • Growiec, J. (2013): “Factor-augmenting technology choice and monopolistic competition,” Journal of Macroeconomics, 38, 86–94.
  • Growiec, J. (2013): “A microfoundation for normalized CES production functions with factor-augmenting technical change,” Journal of Economic Dynamics and Control, 37(11), 2336–2350.
  • Growiec, J. and Schumacher, I. (2013): “Technological opportunity, long-run growth, and convergence,” Oxford Economic Papers, 65(2), 323–351.
  • Kolasa, M. (2013): “Business cycles in EU new member states: How and why are they different?” Journal of Macroeconomics, 38 B, 487–496.
  • Kolasa, M., Makarski, K., Gerke, R., Jonsson, M., Kliem, M., Lafourcade, P., Locarno, A., McAdam, P. (2013): “Assessing macro-financial linkages: A model comparison exercise,” Economic Modelling, 31, 253–264.
  • Lenart, Ł. and Pipień, M. (2013): “Almost periodically correlated time series in business fluctuations analysis,” Acta Physica Polonica A, 123 (3), 567-583.
  • Serwa, D. (2013): “Identifying multiple regimes in the model of credit to households,” International Review of Economics and Finance, 27, 198-208.

2012

  • Cichocki, S. (2012): “Self-employment and the business cycle: evidence from Poland,” Post-Communist Economies, 24(2), 219–239.
  • Growiec, J. (2012): “The world technology frontier: What can we learn from the US States?” Oxford Bulletin of Economics and Statistics, 74(6), 777–807.
  • Growiec, J. (2012): “Determinants of the labor share: Evidence from a panel of firms,” Eastern European Economics, 50(5), 23–65.
  • Growiec, J. and Woźny, Ł. (2012): “Intergenerational interactions in human capital accumulation,” B.E. Journal of Theoretical Economics: Contributions, 12(1), 1–47.
  • Hagemejer, J. and Tyrowicz, J. (2012): “Is the effect really so large? Firm-level evidence on the role of FDI in a transition economy”, Economics of Transition, 20(2), 195–233.
  • Degryse, H., Havrylchyk, O., Jurzyk, E., Kozak, S. (2012): “Foreign bank entry, credit allocation and lending rates in emerging markets: Empirical evidence from Poland,” Journal of Banking & Finance, 36, 2949-2959.
  • Kocięcki, A., Kolasa, M., Rubaszek, M. (2012): “A Bayesian method of combining judgmental and model-based density forecasts,” Economic Modelling, 29(4), 1349–1355.
  • Kolasa, M., Rubaszek, M., Skrzypczyński, P. (2012): “Putting the New Keynesian DSGE model to the real-time forecasting test,” Journal of Money, Credit and Banking, 44(7), 1301–1324.
  • Rubaszek, M. (2012): “The role of two interest rates in the intertemporal current account model,” Macroeconomic Dynamics, 16, 176–189.
  • Rubaszek, M. and Ca'Zorzi, M. (2012): “On the empirical evidence of the intertemporal current account model for the euro area countries,” Review of Development Economics, 16(1), 95–106.
  • Serwa, D. (2012): “Banking crises and nonlinear linkages between credit and output,” Applied Economics, 44, 1025-1040.
  • Strzelecki, P., Galuscak, K., Keeney, M., Nicolitsas, D., Smets, F., Vodopivec, M. (2012): “The determination of wages of newly hired employees: Survey evidence on internal versus external factors,” Labour Economics, 19 (5), 802-812.

2011

  • Baranowski, P. (2011): “Efekty oczekiwanego i nieoczekiwanego zacieśnienia polityki pieniężnej w świetle hybrydowego modelu DSGE dla gospodarki Polski,” Ekonomista, 3, 319–344.
  • Bień-Barkowska K., Nolte, I., Pohlmeier, W. (2011): “An inflated multivariate integer count hurdle model: An application to bid and ask quote dynamics,” Journal of Applied Econometrics, 26(4), 669-707.
  • Bierut, B. K. and Berk, J. M. (2011): “Communication in a monetary policy committee,” European Journal of Political Economy, 27(4), 791–801.
  • Brzoza-Brzezina, M. and Makarski, K. (2011): “Credit crunch in a small open economy,” Journal of International Money and Finance, 30(7), 1406–1428.
  • Grabowski, W. and Welfe, A. (2011): “Global stability of dynamic models,” Economic Modelling, 28, 782-784.
  • Hagemejer, J. and Tyrowicz, J. (2011): “Not all that glitters. The direct effects of privatization through foreign investment,” Eastern European Economics, 49(3), 89–111.
  • Kłębowski, P. and Welfe, A. (2011): “Estimation of the equilibrium exchange rate: The CHEER approach,” Journal of International Money and Finance, 29, 1385-1397.
  • Kolasa, M. and Hagemejer, J. (2011): “Internationalisation and economic performance of enterprises: Evidence from Polish firm-level data,” The World Economy, 34(1), 74–100.
  • Łyziak, T., Przystupa, J., Stanisławska, E., Wróbel, E. (2011): “Monetary policy transmission disturbances during the financial crisis: A case of an emerging market economy,” Eastern European Economics, 49(5), 75-96.
  • Tyrowicz, J. and Daras, T. (2011): “Breeding one’s own sub-prime crisis: The labour market effects on financial system stability,” Economic System, Elsevier, 35(2), 278-299.
  • Tyrowicz, J. and Nestorowicz, J. (2011): “Age and entrepreneur-ship during transition,” Ekonomista, 3, 371-395.

NBP interest rates

Reference rate 1.50
Lombard rate 2.50
Deposit rate 0.50
Rediscount rate 1.75

Exchange rates

Table of 2016-07-25
1 EUR4.3600
1 USD3.9697
1 CHF4.0275
1 GBP5.2222
100 JPY3.7322

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