In the light of the results of empirical studies presented in the Report and the literature available it may be concluded that the form of the monetary policy transmission mechanism in Poland is consistent with structural features of the Polish economy and coincides with those characteristic of...

The paper provides an overview of the literature on the role of monetary aggregates for conducting monetary policy and attempts to assess the role of these aggregates in the Polish monetary policy. We compare theoretical and empirical arguments which justify or undermine the need for usage of...

The paper presents the procedure and two structural macroeconometric models used at the National Bank of Poland for producing regular quarterly inflation projections. One of the models is a small macroeconomic model based on the New Keynesian Phillips curve, the IS curve and the exchange rate...