There are problems with using probability quantification methods when the scaling factor applied in those methods becomes non-positive. The way of adjusting them proposed in this note and verified empirically allows using them in such circumstances. The results for the euro area and Ireland...

This paper presents numerical measures of European consumers’ inflation expectations derived on the basis of European Commission qualitative survey data with different quantification methods, i.e. with the probability method, the regression method and the logistic (and linear) function method....

Taking into account a large number of types of nominal and real exchange rates, while estimating the real equilibrium exchange rate, one should always remember that there is no a single, universal equilibrium exchange rate. A point value or a path of that exchange rate depends on the adopted...

We propose a complex analysis of the exchange rate pass-through in an open economy. We assess the level, linearity and symmetry of exchange rate pass-through to import and consumer prices in Poland and discuss its implications for the monetary policy. We show that the pass-through is incomplete...