This paper attempts a re-examination of the relationship between the output volatility and economic growth using an annual data set for select 67 countries for the period 1978 to 2017 spanning over 40 years. Towards this objective cross section and panel, regressions are estimated for different...

The objective of this paper is to examine the recent literature on the standard open economy macro paradigm. Since there are many aspects to this literature, we concentrate on issues regarding the nature of restrictions imposed in order to gain identification, the general problem of...

The world economy is expanding at a more moderate pace with growth momentum continuing to shift from emerging to advanced economies. World GDP will increase by 3.3 per cent this year – even some-what less than the already modest growth in the recent past. For 2016 and 2017 we expect growth to...

In this paper we present simulations of economic performance of the Polish economy based on a quarterly econometric model. The model consists of 22 stochastic equations, which link the financial market with the real economy. The purpose of the research is to present effects of changes to...