Arratibel, Olga; Michaelis, Henrike - 2013
effect. (2) Consumer prices appear more responsive to an interest rate shock during the first half of our sample, when Poland …-2012) in the Polish economy. The empirical findings show that: (1) output appears more responsive to an interest rate shock at … the beginning of our sample. Since 2000, absorbing this shock has become less costly in terms of output, notwithstanding …