We consider linear dynamic models with rational expectations in case of incomplete and asymmetric information as well as agents heterogeneity. This problem requires solving infinite dimensional matrix equations. We propose asymptotic expansion method to reduce this problem to the finite...

We present a computationally effective method of solving regular linear dynamic systems based on Schur decomposition. One of the advantage of presented method is possibility of problem dimension reduction. This allows for efficient solution of models with very large set of endogenous variables...

This paper presents a set of rules for matrix differentiation with respect to a vector of parameters, using the flattered representation of derivatives, i.e. in form of a matrix. We also introduce a new set of Kronecker tensor products of matrices. Finally we consider a problem of...

We describe algorithm to find higher order approximations of stochastic rational expectations models near the deterministic steady state. Using matrix representation of function derivatives instead of tensor representation we obtain simple expressions of matrix equations determining higher order...

Przedmiotem analiz empirycznych i teoretycznych zawartych w niniejszej pracy s¹ makroekonomiczne i instytucjonalne determinanty zmian na rynkach pracy pañstw OECD, analizowane przez pryzmat modelu poszukiwañ i dynamicznego ujêcia rynku pracy. Rozdzia³ 1 poœwiêcony zosta³ analizie...

We assess the macroeconomic impact on Polish economy of the diversified package of about 120 different GHG mitigation levers, which were identified in the bottom-up sectoral analysis. For this purpose, we constructed a large scale, multi-sector dynamic stochastic general equilibrium (DSGE) model...

We develop an alternative novel method of introducing real wage rigidity into an otherwise standard search and matching model. Wages are constantly renegotiated through Nash wage bargaining, however negotiations are based on imperfect information regarding the productivity level and consequently...

In this paper we present a large scale dynamic stochastic general equilibrium model, in order to analyze and simulate effects of Euro introduction in Poland. Presented framework is a based on a two-country open economy model, where foreign acts as the Eurozone, and home as a candidate country....

In this report we analyze the possible effects of introducing euro in Poland. The publication consists of four chapters. In the first part we discuss theoretical foundations of monetary integration. The chapter two reviews the European experience of intrucing common currency. The chapter three...

In this paper we present a large scale dynamic stochastic general equilibrium model, in order to analyze and simulate effects of Euro introduction in Poland. Presented framework is a based on a two-country open economy model, where foreign acts as the Eurozone, and home as a candidate country....