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It’s not only WHAT is said, it’s also WHO the speaker is. Evaluating the effectiveness of central bank communication
Rozkrut, Marek - Narodowy Bank Polski - 2008
On the basis of a unique database of policy makers’ comments, we find that central bank communication does influence behavior of financial markets. This effect is asymmetric and depends on the contents and direction of the statements. Moreover, we investigate whether individual characteristics...
Persistent link: https://www.econbiz.de/10009641433
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Determinants of non-cash payments
Goczek, Lukasz; Witkowski, Bartosz - Narodowy Bank Polski - 2015
The development of the card payment system allows for lowering the costs of money emission and circulation and thereby leads to significant economic gains. Yet relatively small amount of research has been dedicated to the analysis of the determinants of these developments. Therefore, the aim of...
Persistent link: https://www.econbiz.de/10011212538
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The long run-effects of the Poland’s accession to the eurozone. Simulation using POLDYN – a dynamic computable general equilibrium model
Hagemejer, Jan; Daras, Tomasz - Narodowy Bank Polski - 2009
The aim of this paper is to assess the non-monetary effects of the euro accession of Poland. The literature identifies two channels that potentially may affect the economy: (i) diminishing of investment risk premia through lower interest rates and cost of capital services and (ii) trade creation...
Persistent link: https://www.econbiz.de/10008615331
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The Fall of the Vanishing Interim Regime Hypothesis: Towards a New Paradigm of the Choice of the Exchange Rate Regimes
Jurek, Michal - Narodowy Bank Polski - 2010
This paper verifies strong and weak versions of the vanishing interim regime hypothesis (so-called bipolar view). It is shown herein that the strong as well as weak version of this hypothesis can be discredited. Empirical observations support the bipolar view only for the advanced countries, but...
Persistent link: https://www.econbiz.de/10008802566
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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723
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How forward looking are central banks? Some evidence from their forecasts
Brzoza-Brzezina, Michal; Kotłowski, Jacek; Miśkowiec, … - Narodowy Bank Polski - 2012
degree. With respect to inflation, the NBP and the SNB look far into the future, while the BoE seems to concentrate on … current inflation. As to output, the BoE and the SNB take into account its future or current value while for the NBP this …
Persistent link: https://www.econbiz.de/10010543158
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The Relativity Theory Revisited: Is Publishing Interest Rate Forecasts Really so Valuable?
Brzoza-Brzezina, Michal; Kot, Adam - Narodowy Bank Polski - 2008
rate paths are small relative to those from publishing macroeconomic projections. Given that most inflation targeting …
Persistent link: https://www.econbiz.de/10009641430
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The Macroeconomic Effects of Losing Autonomous Monetary Policy after the Euro Adoption in Poland
Makarski, Krzysztof; Gradzewicz, Michał - Narodowy Bank Polski - 2009
volatility of domestic output increases and the volatility of inflation decreases. Also, in order to quantify the effect of the …
Persistent link: https://www.econbiz.de/10009641436
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The interdependences of central bank’s forecasts and economic agents inflation expectations.Empirical study
Szyszko, Magdalena - Narodowy Bank Polski - 2011
This paper focuses on the associations between the inflation forecasts of the central bank and inflation expectations … policy focusing on the role of expectations. It also presents the idea of inflation forecast targeting. Then the framework of … the inflation forecast targeting in four countries: the Czech Republic, Hungary, Poland and Romania is presented. The …
Persistent link: https://www.econbiz.de/10009646033
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On the performance of Monetary Policy Committees
Farvaque, Etienne; Stanek, Piotr Leszek; Vigeant, Stéphane - Narodowy Bank Polski - 2013
performance in managing inflation and output volatility. Our sample covers major OECD countries in the 1999 to 2010 period. Using …
Persistent link: https://www.econbiz.de/10010667396