This paper offers a Bayesian decision-theoretic approach to policy evaluation in rational expectation models. First, we show how to correctly assess and rank simple policy rules under the welfare loss minimization criterion in the presence of uncertainty about the model’s structural...

Objective: This study proposes a novel empirical analysis of the total factor productivity (TFP) growth for Polish microenterprises, focusing on the effect of the global lockdown in 2020. We employed firm-level data covering enterprises with below ten employees to evaluate micro-firms'...