Browsing Lodz Economics Working Papers by Issue Date
Now showing items 1-20 of 47
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Economics in Times of Crisis. In Search of a New Paradigm
(Faculty of Economics and Sociology of the University of Lodz, 2014)The relationship between the development of economics and economic performance is not reducible to any set of simple rules. Among the historians of economic thought there is even a handful of those who perceive the ... -
Sovereign spreads and financial market behavior before and during the crisis
(Faculty of Economics and Sociology of the University of Lodz, 2014)This paper aims at shedding some light on the mechanisms of pricing the EMU countries’ sovereign bonds in financial markets. Employing the Augmented Mean Group (AMG) estimator, we find that major changes have occurred ... -
Monetary policy stress in EMU during the moderation and the global crisis
(Faculty of Economics and Sociology of the University of Lodz, 2014)This paper re-examines the problem of monetary policy stress in the EMU, both prior to the crisis as well as after its outbreak. It aims to (firstly) reconfirm that monetary policy during the great moderation (i.e. until ... -
Optimal Goodwill Model with Consumer Recommendations and Market Segmentation
; Górajski, Mariusz
(Faculty of Economics and Sociology of the University of Lodz, 2014)
We propose a new dynamic model of product goodwill where a product is sold in many market segments, and where the segments are indicated by the usage experience of consumers. The dynamics of product goodwill is described ... -
Innovation and Economic Growth in European Union. Panel Data Analysis
(Faculty of Economics and Sociology, University of Lodz, 2015)This study examines the relationship between technological innovation and economic growth in European Union countries over the period 1993-2011. Using Blundell and Bond (1998) generalized method of the moments estimation ... -
Does minimum wage reduce youth employment on regional labour markets in Poland?
(Faculty of Economics and Sociology, 2015-01)The main aim of the paper was to verify whether the changes in minimum to average wage ratio in Poland negatively affected youth (15-24 years old) employment rate. Moreover we tried to answer the question if this impact ... -
Credible enough? Forward guidance and perceived National Bank of Poland’s policy rule
; Gajewski, Paweł (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 ... -
Gender wage gap by occupational groups in Poland
; ; Konopczak, Karolina; (Faculty of Economics and Sociology of the University of Lodz, 2015-03)
The purpose of this paper is to analyse the gender wage gap in Poland in different occupational groups. The authors aim to investigate how much of the raw differences in wages can be explained by differences in personal ... -
Minimum wage and youth unemployment in local labor markets in Poland
(Faculty of Economics and Sociology of the University of Lodz, 2015-06)The aim of the paper is to analyze the impact of minimum wage on youth unemployment (less than 25 years old) in local (NUTS4) labor markets in Poland. The results show that minimum wage in Poland significantly affects youth ... -
Alfred Marshall’s Puzzles. Between Economics as a Positive Science and Economic Chivalry
(Faculty of Economics and Sociology of the University of Lodz, 2015-09)Alfred Marshall’s approach to economics hides a paradox. On one hand, the ‘father’ of neoclassical economics strongly favoured conducting economics as a positive science. However, the fact that Marshall was such a consistent ... -
Changes in nominal rigidities in Poland – a regime switching DSGE perspective
; Kuchta, Zbigniew (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, ... -
Heterogeneity of households and the effects of fiscal policy in CEE countries
Krajewski, Piotr (Faculty of Economics and Sociology of the University of Lodz, 2016)
We analyse the effects of fiscal policy in non-EMU Central and Eastern European counties. The analysis is based on new Keynesian model, which takes into account both optimizing Ricardian households and non-Ricardian ... -
Firm-level productivity and international expansion of firms from the Lodz Voivodeship
Gabrielczak, Piotr; Serwach, Tomasz (Faculty of Economics and Sociology of the University of Lodz, 2016)
The paper investigates the link between firm-level productivity and internationalization (through exports, imports and FDI) in the Lodz Voivodeship, Poland. Two hypotheses have been tested –self-selection and learning ... -
Robust Monetary Policy In A Linear Model Of The Polish Economy: Is The Uncertainty In The Model Responsible For The Interest Rate Smoothing Effect?
Górajski, Mariusz (Faculty of Economics and Sociology of the University of Lodz, 2016-01)
Estimates of the generalised Taylor rule suggest that monetary policy in Poland can be characterized as having reacted in a moderate fashion to output and in ation gaps and are strongly dependent on the lagged interest ... -
Sources of regional inflation in Poland
(Faculty of Economics and Sociology of the University of Lodz, 2016-07)This paper aims at shedding some light on the sources of regional inflation in Poland. More specifically, it investigates the role of external, national and idiosyncratic shocks. In a two-step procedure, we estimate ... -
Tale of two cities. A comparative study of relationship between education and economic prosperity
(Faculty of Economics and Sociology of the University of Lodz, 2016-07)Over the last century, the social function and the role of the universities and other higher education institutions (HEI) changed significantly. What the contemporary students expect to gain due to their university education ... -
Spatial econometric approach to western diseases modelling
(Faculty of Economics and Sociology of the University of Lodz, 2016-07)For years now, developed countries face an epidemic of high blood pressure, diabetes and high cholesterol, risk factors related to heart and circulatory disease, and a suite of psychological disorders ranging from depression, ... -
Economic Development and the Spread of Diseases of Affluence in EU Regions
(Faculty of Economics and Sociology of the University of Lodz, 2016-07)Diseases of affluence (diseases of the XXI c., Western diseases) by definition should have higher prevalence and/or mortality rates in richer and more developed countries than in poorer, underdeveloped states. Therefore, ... -
The foreign currency mortgage loans in the Polish banking sector and its possible macroeconomic and political consequences
(Faculty of Economics and Sociology of the University of Lodz, 2016-08)According to the Polish Banking Supervision (KNF) statistics , banking mortgage loans total 22.4% of the overall assets of the Polish banking credit portfolio as of January 2015 data. Around 15% of those loans might have ... -
Institutions Without Culture. A Critique of Acemoglu and Robinson's Theory of Economic Development
; Matera, Rafał (Faculty of Economics and Sociology of the University of Lodz, 2016-08)
Acemoglu and Robinson’s theory presented in their famous Why Nations Fail, and other papers, should be placed among the institutional theories of economic development. Yet the problem is they strongly differentiate their ...