The paper presents the analysis of the long run causality behaviour between money and prices in the Polish economy during the transition period. The study makes use of the monetary inflation model known as the P-star model, originally developed by the FED economists at the end of 80-ties. The...

The purpose of the article is to evaluate the forecasting performance of dynamic factor models in forecasting inflation in the Polish economy. The factor models are based on the assumption that the behavior of most macroeconomic variables can be well described by several unobservable factors,...

The purpose of this article is to introduce an original macro code written in SAS 4GL. This macro is used to automate the process of forecasting with dynamic factor analysis. Automation of the process helps to save significant amounts of time and effort for the researcher. It also enables to...