The Walters critique of EMU presumed that pro-cyclical country-specific real interest rates would incorporate significant macroeconomic instability in an environment of asymmetric shocks. The literature on optimum currency areas suggests a number of criteria to minimize this risk, such as market...

The stabilising expenditure rule (SER) imposed on general government (GG) sector in Poland has been binding since 2014. According to this rule, about 90% of GG expenditure will grow in line with the real medium-term GDP, or slower if there is excessive debt or deficit, or balance does not meet...

Seasonally adjusted inflation indexes are available in official statistics and commonly used for analyzing demand pressure in many developed countries. This paper studies the seasonality of consumer prices in Poland. To address this issue we apply analyses in a time as well as in a frequency...

This paper investigates the use of dynamic factor model for forecasting headline and core inflation as well as food price index in Poland. Method applied in the study extend conventional approaches by using bayesian techniques to dynamic factors' estimation, way of handling "ragged edge" data...

This paper provides a technical description of the overlapping generations model used by the Joint Research Centre to analyse tax policy reforms, including in particular pension and demographic issues. The main feature of the EDGE-M3 model lies in its high level of disaggregation and the close...

Gender pay gaps in earnings are well-documented in the literature. However, new factors contributing to women's lower earnings have emerged and remain under-researched. Educational choices are among them. We use a rich administrative dataset from Poland, a Central Eastern European country with...

Gender pay gaps in earnings are well-documented in the literature. However, new factors contributing to women's lower earnings have emerged and remain under-researched. Educational choices are among them. We use a rich administrative dataset from Poland, a Central Eastern European country with...