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observed variables. Shock decompositions of the output and the inflation rate revealed the driving forces of the business … Poland. …
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admission to the European Union (EU), Poland and Hungary. Using a rational expectations, dynamic open economy aggregate supply … price level movements in Poland. Monetary shocks are an important source of output fluctuations in the short run in Hungary … suggesting nominal inertia. In Poland, real demand shocks affect output in the short run (up to one year), while monetary shocks …
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