analyse whether the reaction of output and prices to interest rate and exchange rate shocks has changed across time (1996 …-2012) in the Polish economy. The empirical findings show that: (1) output appears more responsive to an interest rate shock at … the beginning of our sample. Since 2000, absorbing this shock has become less costly in terms of output, notwithstanding …

‑labour nexus in the emerging markets of the non‑eurozone Visegrad group countries (i.e. Czech Republic, Hungary and Poland … lagged, hump‑shaped reactions of output, employment and unemployment in each of the analysed countries. …

Poland show that the credit channel operates. It seems however, that factors through which it affects the aggregate demand …

money growth and inflation appears to be nonlinear, as our estimation results identify multiple inflation regimes displaying … relationship between money growth and inflation in a Bayesian Markov Switching framework for a set of four countries, the US, the … UK, the Euro area and Japan, over an estimation period spanning from 1960 to 2012. We find that the relationship between …