The introduction of the euro was one of the most important events in the process of European integration, especially in the financial sector. However, next to its many advantages, the joint currency and single monetary policy increased the probability of property bubbles in the EU low income...

Having an international currency brings some benefits but also important obstacles. Undoubtedly, it is positive to have international money but the process of achieving the status of global money may lead to some costs connected with the appreciation of the euro. The main goal of this article is...

Having an international currency brings some benefits but also important obstacles. Undoubtedly, it is positive to have international money but the process of achieving the status of global money may lead to some costs connected with the appreciation of the euro. The main goal of this article is...

This article analyses determinants of sectoral R&D and innovation expenditure as well as investment in Polish manufacturing industries in 1994-2004. The estimated coefficients for user cost of capital are generally in line with the neoclassical model of investment, except for R&D intensity. The...

The purpose of the article is to investigate, both from the theoretical and empirical side, the influence of inflation upon the share in the market of new and modernized products. For this purpose a theoretical model was constructed exposing the meaning of the product's price to signal its...

Using a simple innovation-driven growth model I investigate to what extent labor market regulations underlie the devastating effects of output volatility on long-run growth trends. Empirical analysis conducted for 154 countries over the 1996-2005 period shows that an increase from low values of...

This paper empirically investigates the impact of GDP volatility on current account balances for a large sample of developed and developing countries. We extend the standard set of short- and long-term determinants of current accounts to include GDP volatility computed from the annual growth...

The purpose of this paper is to asses the weight of human capital and gender equality in explaining the bilateral FDI inflows to 11 Central European economies. The group comprises the ten countries that acceded to the EU in 2004 or 2007 and Croatia which is a candidate country since 2004. The...