We analyse the short-term dynamics of Polish economy with a prominent state-dependent pricing mechanism of Dotsey, King and Wolman (1999). We compare macroeconomic evidence of price rigidity in a small-scale DSGE model with a state-dependent Phillips curve (SDPC) derived by Bakhshi, Khan and...

Social capital representing among other things voluntary cooperation, social networks density and generalized trust has become popular in economics in the 90s. A number of papers has confirmed positive relationship between social capital measures and economic growth. In our opinion family-based...

Credible forward guidance should reduce the perceived impact of macroeconomic variables on the interest rate. Using a micro-level dataset we test the perception of monetary policy in Poland among professional forecasters and find evidence for forward guidance credibility.

The aim of the paper is to analyse monetary policy rules for Poland. We estimate models based on the proposition of Taylor, augmented with interest rate smoothing. We deal with the case of instantaneous as well as forward-looking relationship between interest rate and inflation. In the latter...

The aim of the paper is to analyse monetary policy rules for Poland. We estimate models based on the proposition of Taylor, augmented with interest rate smoothing. We deal with the case of instantaneous as well as forward-looking relationship between interest rate and inflation. In the latter...