In this report we analyze the possible effects of introducing euro in Poland. The publication consists of four chapters. In the first part we discuss theoretical foundations of monetary integration. The chapter two reviews the European experience of intrucing common currency. The chapter three...

In this paper we present a large scale dynamic stochastic general equilibrium model, in order to analyze and simulate effects of Euro introduction in Poland. Presented framework is a based on a two-country open economy model, where foreign acts as the Eurozone, and home as a candidate country....

In this paper we present a large scale dynamic stochastic general equilibrium model, in order to analyze and simulate effects of Euro introduction in Poland. Presented framework is a based on a two-country open economy model, where foreign acts as the Eurozone, and home as a candidate country....

We analyze with panel SVECM the impact of real wage, productivity, labor demand and supply shocks on the eight CEE economies during 1996-2007. We use a set of long-run restrictions, derived from the DSGE model with explicitly modeled labor market, to identify these structural shocks....

Purpose The purpose of this paper is to identify factors behind cyclical fluctuations and differences in adjustments to shocks in Greece, Italy, Portugal and Spain (GIPS) and a reference country – Germany. The authors try to answer the question whether the GIPS countries could have fared...

We describe algorithm to find higher order approximations of stochastic rational expectations models near the deterministic steady state. Using matrix representation of function derivatives instead of tensor representation we obtain simple expressions of matrix equations determining higher order...