Browsing by Author "Wallusch, Jacek"
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Item ELASTYCZNOŚĆ CEN DÓBR KONSUMPCYJNYCH W POLSCE(Wydział Prawa i Administracji UAM, 2007) Wallusch, JacekNominal rigidities are the central feature o f the New Keynesian Economics. Recently, models employing this assumption have become very popular among academic economists and central bankers. By re-arranging the Calvo pricing mechanism into an AR(1) model, the author estimated and calculated the probability of the price change and the mean time between price changes. To achieve that the aggregated monthly CPI and the series of 26 prices of consumer goods and services was employed. The results obtained for the whole sample (1990-2006) support Kashyaps hypothesis that the price elasticity is a function of inflation: the calculated probability of the price change was much higher in the first half of the 1990s. Since the 1999, the consumer prices in Poland have been moderately stable, with the probability o f a price change in the following month being 11.3%, and the mean time of the prices remaining unchanged averaging 8 months.Item PRÓBA EMPIRYCZNEJ WERYFIKACJI NEOKEYNESOWSKIEGO MODELU FUNKCJONOWANIA RYNKU PRACY. PRZYPADEK POLSKI I CZECH(Wydział Prawa i Administracji UAM, 2005) Bludnik, Izabela; Wallusch, JacekNominal rigidities are the cornerstone of the New Keynesian microeconomics. Sticky prices and wages are the determinant of the effectiveness of the demand regulation economic policy of a state. The paper presents an empirical analysis of the rigidities in the Czech Republic and in Poland. Using the cointegration-based impulse response analysis and a variance decomposition we have found little evidence proving the assumptions typical of the New Keynesian approach although the prices and wages were found to be more flexible in Poland. However, the obtained results do not challenge the theoretical foundations of the early New Keynesian models: one must take into consideration the specific problems relevant to the countries under transition.Item PRZEGLĄD PIŚMIENNICTWA(Wydział Prawa i Administracji UAM, 1998) Wallusch, JacekBogusław Grabowski, Monetarna teoria bilansu płatniczego. Doświadczenia Chile 1973 - 1982, Wydawnictwo Naukowe PWN, Warszawa 1997, ss. 197.