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Changes in nominal rigidities in Poland – a regime switching DSGE perspective
(Faculty of Economics and Sociology of the University of Lodz, 2015-12)
We estimate a dynamic stochastic general equilibrium model that allows for regimes Markov switching (MS-DSGE). Existing MS-DSGE papers for the United States focus on changes in monetary policy or shocks volatility, ...
Credible enough? Forward guidance and perceived National Bank of Poland’s policy rule
(Faculty of Economics and Sociology of the University of Lodz, 2015-02)
Credible forward guidance should bring down the perceived impact of macroeconomic variables on the interest rate. Using a micro-level dataset we test the perception of monetary policy in Poland among professional forecasters ...