This paper reviews the history of housing in Poland since World War II. It then formulates an econometric demand-supply model for state and for private housing. The two submarkets are connected through certain spillovers. While the state market is assumed always to exhibit excess demand,...

This paper proposes a new indicator of the expected real effects of an inflation-targeting monetary policy. This indicator can be derived from a simple two-dimensional vector autoregressive model of inflation and the output gap. A simulation experiment illustrates its rationale for timing...

Empirical distributions of the studentized Augmented Dicky-Fuller cointegration statistic for data generated by simulation are analyzed for small samples. Empirical 1 percent, 5 percent and 10 percent fractiles are tabulated for various sample sizes and various numbers of regressors. It is found...

This paper presents empirical results testing the nature of output in output-plans relations for net material product and consumption for seven European CMEA countries, 1960-1985. The dispute between the genetic and teleological schools of central planning is discussed. In general, a plan is...

This paper investigates causes of the stagflation phenomena which appeared in Poland in the period after the "shortageflation", i.e. after February 1990. It is conjectured that one of the primary reasons for the appearance of the stagflation was substantial market uncertainty, which led to a...