In the context of modern economy, banks play an essential role for sustainable growth, by ensuring economy with financial resources and driving impulses of monetary policy to economy. Monetary authorities influence significantly the bank's ability to fulfill this role. Thus, to achieve...

The article synthetically presents economic situation in Poland as well as in the whole word during the crisis from 2007 to 2009. It also describes the condition of Polish banking sector and points its main problems, which accompany the occurence of credit crunch. The paper shows changes in...

In this paper, the actual problems and doubts concerning the monetary policies in the conditions during the crisis 2007–2012 have been brought up. The unconventional instruments, as well as its way of activity in order to guarantee credit institutions’ liquidity, were also presented. The...

With the huge advances in the field of theoretical and applied econometrics recent years have made a period of growing faith in the analytical and forecasting abilities of economists, which resulted in a growing belief in the increasing ease of conducting counter-cyclical monetary policy and its...

The idea if EMU requires countries entering the euro zone to have a homogeneous system of monetary policy instruments including open market operations. This paper presents comparative analysis of Polish and European zone solutions in the range of open market operations.

The aim of the paper is to present processes of currency competition in the contemporary economics. The problem is of special importance, because such a competition has recently intensified to a large degree, mainly due to significant changes in monetary systems around the world.

The paper presents the role of the Polish National Bank in the interbank money market. The central bank is a key institution regula ting the level of monetary equilibrium andliquidity of banking sector, activating the commercial banks’ liquidity management and contributing to the efficient...

This paper highlights the changing collateral landscape and how it may shape the global demand/supply for collateral. We first identify the key collateral pools (relative to the “old†collateral space) and associated collateral velocities. Post-Lehman and continuing into the European...

A crisis is a terrible thing to waste, and nowhere is this truer than in the arena of international economic policy cooperation. With the world facing the largest and most synchronized plunge in output of the postwar era, policy makers banded together to find solutions. This paper looks at the...

We study the role of the exchange rate regime, reserve accumulation, and sterilization policies in the macroeconomics of aid surges. Absent sterilization, a peg allows for almost full aid absorption — an increase in the current account deficit net of aid—delivering the same effects...