This study analyzes the time stability of both the GDP beta convergence and the impact of monetary policy variables on economic growth in EU27 countries during 1993-2010 and EU15 during 1972-2010. To address the problem of variables' selection, Bayesian model pooling (BMP) is used while choosing...

"There are many different types of convergence within economics, as well as several methods to analyse each of them. This book addresses the concept of real economic convergence or the gradual levelling off of GDP per capita rates across economies. In addition to a detailed, holistic overview of...

This article aims to answer the question of whether a membership in the European Union contributed to an accelerated economic growth of eleven Central and Eastern European (CEE or EU11) countries, including their real convergence to the economic development level of Western Europe (EU15). The...

The main goal of the article is to investigate forecasting quality of two approaches to modelling main macroeconomic variables without a priori assumptions concerning causality and generate forecasts without additional assumptions regarding regressors. With application of tendency survey data...

The article compares forecast quality from two atheoretical models. Neither method assumed a priori causality and forecasts were generated without additional assumptions about regressors. Tendency survey data was used within the Bayesian averaging of classical estimates (BACE) framework and...