Monetary Policy in an Economy with Frictional Labor Market - Case of Poland
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F16%3A00108676" target="_blank" >RIV/00216224:14560/16:00108676 - isvavai.cz</a>
Result on the web
<a href="http://mme2016.tul.cz/conferenceproceedings/mme2016_conference_proceedings.pdf" target="_blank" >http://mme2016.tul.cz/conferenceproceedings/mme2016_conference_proceedings.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Monetary Policy in an Economy with Frictional Labor Market - Case of Poland
Original language description
The aim of this paper is to investigate the impacts and effectiveness of the monetary policy in the Polish economy during the last 14 years. Furthermore, we are interested in the effects of the Great Recession, which was caused by the financial crisis in 2007, on the behavior of key macroeconomic variables. To achieve our goals, we choose and estimate a dynamic stochastic general equilibrium model specified for a small open economy. The model is characterized by an explicitly defined labor market. The model version of this sector of the economy contains several frictions in form of a search and matching function, wage adjustment costs, hiring costs and wage bargaining processes. We implement a few different Taylor-type equations, which represent the decision making rule of the monetary authority. This approach helps us identify the main relationships, which the monetary policy maker takes into consideration while setting the interest rates. We then examine the impacts of monetary policy shock on the output and labor market.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50200 - Economics and Business
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of 34th International Conference Mathematical Methods in Economics
ISBN
9788074942969
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
629-634
Publisher name
Technical University of Liberec
Place of publication
Liberec
Event location
Liberec
Event date
Jan 1, 2016
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000385239500108