This study examines the relation between real economic activity and condition of financial markets in Poland in the framework of Consumption Based Capital Asset Pricing Model (CCAPM). The article analyses the relation between yield spreads calculated for Polish debt securities and real economic...

We employ Bayesian approach to the analysis of economic growth in Poland. The results of estimation of a stochastic frontier model applied to production function of Polish voivodships in 2000 - 2004 are presented. Stochastic frontier approach allows to decompose growth into technological change,...

Paper refers to the relations between real economic activity and the state of nancial sys- tem. It presents how the balance sheet eect works and how it in uences the real economic activity and the eectiveness of the monetary policy. The empirical part of the paper presents the theoretical model,...