The paper aims to assess the impact of regulations (measured by the Fraser Institute index of economic freedom) on economic growth in the world as well as in EU and post-socialist countries. The method of the analysis is based on growth regressions where economic freedom is included in the set...

The study examines the relationship between the regulatory variables and economic growth on the basis of Bayesian model pooling applied to Blundell and Bond’s GMM system estimator. The areas of regulations (institutions) are measured by the following indicators: index of economic freedom,...

In this article we present four diversified approaches to forecasting main macroeconomic variables without a priori assumptions concerning causality. We include tendency survey data in both the Bayesian averaging of classical estimates (BACE) and the dynamic factor models (DFM) frameworks. With...

The aim of this paper is to construct a forecasting model oriented on predicting basic macroeconomic variables, namely: the GDP growth rate, the unemployment rate, and the consumer price inflation. In order to select the set of the best regressors, Bayesian Averaging of Classical Estimators...