Details about Krzysztof Makarski

Access statistics for papers by Krzysztof Makarski.

Last updated 2025-07-06. Update your information in the RePEc Author Service.

Short-id: pma1081

Working Papers

2025

1. Demographic transition and the rise of wealth inequality
   GRAPE Working Papers, GRAPE Group for Research in Applied Economics

2024

2. Factors behind rising U.S. wealth inequality: a decomposition and policy implications
   GRAPE Working Papers, GRAPE Group for Research in Applied Economics View citations (1)
3. For whom the bill tolls: redistributive consequences of a monetary-fiscal stimulus
   Working Paper Series, European Central Bank View citations (1)
   Also in KAE Working Papers, Warsaw School of Economics, Collegium of Economic Analysis (2024)

2022

4. Inequality in an OLG economy with endogenous structural change
   GRAPE Working Papers, GRAPE Group for Research in Applied Economics
5. Monetary policy in a two-country model with behavioral expectations
   NBP Working Papers, Narodowy Bank Polski View citations (3)
6. Preference for Redistribution during Structural Change with Labor Mobility Frictions
   IZA Discussion Papers, Institute of Labor Economics (IZA)
   Also in GRAPE Working Papers, GRAPE Group for Research in Applied Economics (2022)
   See also Journal Article Preference for redistribution during structural change with labor mobility frictions, European Journal of Political Economy, Elsevier (2023) View citations (1) (2023)
7. Progressing Towards Efficiency: The Role for Labor Tax Progression in Reforming Social Security
   IZA Discussion Papers, Institute of Labor Economics (IZA)
   Also in GRAPE Working Papers, GRAPE Group for Research in Applied Economics (2021)
8. Structural change and inequality in general equilibrium
   GRAPE Working Papers, GRAPE Group for Research in Applied Economics

2021

9. Efficiency versus Insurance: Capital Income Taxation and Privatizing Social Security
   IZA Discussion Papers, Institute of Labor Economics (IZA)
10. Monetary Policy and COVID-19
    IMF Working Papers, International Monetary Fund View citations (6)
    Also in KAE Working Papers, Warsaw School of Economics, Collegium of Economic Analysis (2021) View citations (4)
    See also Journal Article Monetary Policy and COVID-19, International Journal of Central Banking, International Journal of Central Banking (2022) View citations (6) (2022)
11. The Political (In)Stability of Funded Social Security
    IZA Discussion Papers, Institute of Labor Economics (IZA)
    Also in CESifo Working Paper Series, CESifo (2020)
    Working Paper series, Rimini Centre for Economic Analysis (2020) View citations (1)
    See also Journal Article The political (in)stability of funded social security, Journal of Economic Dynamics and Control, Elsevier (2021) (2021)

2020

12. Fiscal incentives to pension savings – are they efficient?
    Working Paper series, Rimini Centre for Economic Analysis View citations (1)

2019

13. Evaluating Welfare and Economic Effects of Raised Fertility
    IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (2)
    Also in IAAEU Discussion Papers, Institute of Labour Law and Industrial Relations in the European Union (IAAEU) (2019) View citations (2)
    GRAPE Working Papers, GRAPE Group for Research in Applied Economics (2018)

2018

14. Inequality in an OLG Economy with Heterogeneous Cohorts and Pension Systems
    IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (7)
    Also in 2017 Meeting Papers, Society for Economic Dynamics (2017) View citations (2)
    GRAPE Working Papers, GRAPE Group for Research in Applied Economics (2017) View citations (1)
    Working Papers, Faculty of Economic Sciences, University of Warsaw (2015) View citations (2)
    See also Journal Article Inequality in an OLG economy with heterogeneous cohorts and pension systems, The Journal of Economic Inequality, Springer (2018) View citations (6) (2018)
15. On Welfare Effects of Increasing Retirement Age
    IAAEU Discussion Papers, Institute of Labour Law and Industrial Relations in the European Union (IAAEU) View citations (8)
    Also in GRAPE Working Papers, GRAPE Group for Research in Applied Economics (2017) View citations (1)
    IZA Discussion Papers, Institute of Labor Economics (IZA) (2018) View citations (8)
    See also Journal Article On welfare effects of increasing retirement age, Journal of Policy Modeling, Elsevier (2019) View citations (7) (2019)

2017

16. Could the boom-bust in the eurozone periphery have been prevented?
    GRAPE Working Papers, GRAPE Group for Research in Applied Economics View citations (6)
    Also in NBP Working Papers, Narodowy Bank Polski (2017) View citations (6)
    See also Journal Article Could the Boom‐Bust in the Eurozone Periphery Have Been Prevented?, Journal of Common Market Studies, Wiley Blackwell (2019) View citations (12) (2019)
17. Crisis, contagion and international policy spillovers under foreign ownership of banks
    GRAPE Working Papers, GRAPE Group for Research in Applied Economics
    Also in KAE Working Papers, Warsaw School of Economics, Collegium of Economic Analysis (2016)
    2015 Meeting Papers, Society for Economic Dynamics (2015)
    NBP Working Papers, Narodowy Bank Polski (2016)
    See also Journal Article Crisis, contagion and international policy spillovers under foreign ownership of banks, Journal of Financial Stability, Elsevier (2018) View citations (9) (2018)
18. Mnożniki fiskalne w modelu z ograniczeniami kredytowymi
    GRAPE Working Papers, GRAPE Group for Research in Applied Economics
19. Monetary and macroprudential policy with foreign currency loans
    GRAPE Working Papers, GRAPE Group for Research in Applied Economics View citations (10)
    Also in 2014 Meeting Papers, Society for Economic Dynamics (2014) View citations (11)
    NBP Working Papers, Narodowy Bank Polski (2014) View citations (14)
    Working Paper Series, European Central Bank (2015) View citations (5)
    See also Journal Article Monetary and macroprudential policy with foreign currency loans, Journal of Macroeconomics, Elsevier (2017) View citations (13) (2017)
20. Political (in)stability of social security reform
    GRAPE Working Papers, GRAPE Group for Research in Applied Economics
    Also in Working Papers, Faculty of Economic Sciences, University of Warsaw (2015)
21. Welfare effects of fiscal policy in reforming the pension system
    GRAPE Working Papers, GRAPE Group for Research in Applied Economics View citations (3)

2015

22. A penalty function approach to occasionally binding credit constraints
    EcoMod2015, EcoMod View citations (10)
    Also in NBP Working Papers, Narodowy Bank Polski (2013) View citations (4)
    Dynare Working Papers, CEPREMAP (2013) View citations (5)
    See also Journal Article A penalty function approach to occasionally binding credit constraints, Economic Modelling, Elsevier (2015) View citations (11) (2015)
23. In the search for the optimal path to establish a funded pension system
    Working Papers, Faculty of Economic Sciences, University of Warsaw View citations (2)

2014

24. Does social security reform reduce gains from increasing the retirement age?
    Working Papers, Faculty of Economic Sciences, University of Warsaw View citations (4)
25. Small assumptions (can) have a large bearing: evaluating pension system reforms with OLG models
    Working Papers, Faculty of Economic Sciences, University of Warsaw View citations (1)
    See also Journal Article Small assumptions (can) have a large bearing: evaluating pension system reforms with OLG models, Economic Modelling, Elsevier (2015) View citations (9) (2015)

2013

26. Do We Really Need to Start From Scratch? Economic Theory on Economic Crises
    Working Papers, Faculty of Economic Sciences, University of Warsaw
27. Efficiency of the pension reform: the welfare effects of various fiscal closures
    Working Papers, Faculty of Economic Sciences, University of Warsaw View citations (15)
28. Macroprudential policy and imbalances in the euro area
    NBP Working Papers, Narodowy Bank Polski View citations (28)
    Also in Working Paper Series, European Central Bank (2013) View citations (20)
    See also Journal Article Macroprudential policy and imbalances in the euro area, Journal of International Money and Finance, Elsevier (2015) View citations (93) (2015)
29. Unprivatizing the Pension System: The Case of Poland
    Working Papers, Faculty of Economic Sciences, University of Warsaw View citations (3)
    See also Journal Article Unprivatizing the pension system: the case of Poland, Applied Economics, Taylor & Francis Journals (2015) View citations (9) (2015)
30. Would it have paid to be in the eurozone?
    Working Papers, Department of Applied Econometrics, Warsaw School of Economics View citations (1)
    Also in NBP Working Papers, Narodowy Bank Polski (2012) View citations (5)
    See also Journal Article Would it have paid to be in the eurozone?, Economic Modelling, Elsevier (2014) View citations (7) (2014)

2012

31. Assessing macro-financial linkages: A model comparison exercise
    Discussion Papers, Deutsche Bundesbank View citations (8)
    Also in NBP Working Papers, Narodowy Bank Polski (2012) View citations (8)
    See also Journal Article Assessing macro-financial linkages: A model comparison exercise, Economic Modelling, Elsevier (2013) View citations (24) (2013)

2011

32. Monetary policy in a non-representative agent economy: A survey
    NBP Working Papers, Narodowy Bank Polski View citations (1)
    See also Journal Article MONETARY POLICY IN A NON-REPRESENTATIVE AGENT ECONOMY: A SURVEY, Journal of Economic Surveys, Wiley Blackwell (2013) View citations (7) (2013)
33. The anatomy of standard DSGE models with financial frictions
    NBP Working Papers, Narodowy Bank Polski View citations (9)
    See also Journal Article The anatomy of standard DSGE models with financial frictions, Journal of Economic Dynamics and Control, Elsevier (2013) View citations (65) (2013)

2010

34. Credit Crunch in a Small Open Economy
    NBP Working Papers, Narodowy Bank Polski View citations (7)
    Also in MPRA Paper, University Library of Munich, Germany (2009) View citations (14)
    See also Journal Article Credit crunch in a small open economy, Journal of International Money and Finance, Elsevier (2011) View citations (40) (2011)

2009

35. Dollarization as a Signaling Device
    NBP Working Papers, Narodowy Bank Polski View citations (1)
    See also Journal Article Dollarization as a signaling device, Bank i Kredyt, Narodowy Bank Polski (2014) (2014)
36. The Macroeconomic Effects of Losing Autonomous Monetary Policy after the Euro Adoption in Poland
    NBP Working Papers, Narodowy Bank Polski View citations (16)
    Also in EcoMod2009, EcoMod (2009) View citations (14)

Journal Articles

2025

1. Monetary and fiscal policy in a two-country model with behavioral expectations
   Journal of International Money and Finance, 2025, 155, (C)
2. Structural change and inequality in a general equilibrium model of a transition economy
   Economics of Transition and Institutional Change, 2025, 33, (3), 667-693

2024

3. Capital income taxation and reforming social security in an OLG economy
   Journal of Economic Dynamics and Control, 2024, 165, (C)

2023

4. Preference for redistribution during structural change with labor mobility frictions
   European Journal of Political Economy, 2023, 77, (C) View citations (1)
   See also Working Paper Preference for Redistribution during Structural Change with Labor Mobility Frictions, IZA Discussion Papers (2022) (2022)

2022

5. Monetary Policy and COVID-19
   International Journal of Central Banking, 2022, 18, (1), 41-80 View citations (6)
   See also Working Paper Monetary Policy and COVID-19, IMF Working Papers (2021) View citations (6) (2021)

2021

6. The political (in)stability of funded social security
   Journal of Economic Dynamics and Control, 2021, 133, (C)
   See also Working Paper The Political (In)Stability of Funded Social Security, IZA Discussion Papers (2021) (2021)

2019

7. Could the Boom‐Bust in the Eurozone Periphery Have Been Prevented?
   Journal of Common Market Studies, 2019, 57, (2), 336-352 View citations (12)
   See also Working Paper Could the boom-bust in the eurozone periphery have been prevented?, GRAPE Working Papers (2017) View citations (6) (2017)
8. Fiscal and Welfare Effects of Raised Fertility in Poland: Overlapping Generations Model Estimates
   Population and Development Review, 2019, 45, (4), 795-818 View citations (3)
9. On welfare effects of increasing retirement age
   Journal of Policy Modeling, 2019, 41, (4), 718-746 View citations (7)
   See also Working Paper On Welfare Effects of Increasing Retirement Age, IAAEU Discussion Papers (2018) View citations (8) (2018)

2018

10. Crisis, contagion and international policy spillovers under foreign ownership of banks
    Journal of Financial Stability, 2018, 36, (C), 293-304 View citations (9)
    See also Working Paper Crisis, contagion and international policy spillovers under foreign ownership of banks, GRAPE Working Papers (2017) (2017)
11. Illusory Gains from Privatizing Social Security when Reform is Politically Unstable
    Peace Economics, Peace Science, and Public Policy, 2018, 24, (2), 12
    Also in Peace Economics, Peace Science, and Public Policy, 2018, 24, (2), 12 (2018)
12. Inequality in an OLG economy with heterogeneous cohorts and pension systems
    The Journal of Economic Inequality, 2018, 16, (4), 583-606 View citations (6)
    Also in The Journal of Economic Inequality, 2018, 16, (4), 583-606 (2018) View citations (7)
    See also Working Paper Inequality in an OLG Economy with Heterogeneous Cohorts and Pension Systems, IZA Discussion Papers (2018) View citations (7) (2018)

2017

13. ANALYZING THE EFFICIENCY OF PENSION REFORM: THE ROLE OF THE WELFARE EFFECTS OF FISCAL CLOSURES
    Macroeconomic Dynamics, 2017, 21, (5), 1205-1234 View citations (16)
14. Monetary and macroprudential policy with foreign currency loans
    Journal of Macroeconomics, 2017, 54, (PB), 352-372 View citations (13)
    See also Working Paper Monetary and macroprudential policy with foreign currency loans, GRAPE Working Papers (2017) View citations (10) (2017)

2016

15. Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents
    IZA Journal of Labor Policy, 2016, 5, (1), 1-36 View citations (4)

2015

16. A penalty function approach to occasionally binding credit constraints
    Economic Modelling, 2015, 51, (C), 315-327 View citations (11)
    See also Working Paper A penalty function approach to occasionally binding credit constraints, EcoMod2015 (2015) View citations (10) (2015)
17. Macroprudential policy and imbalances in the euro area
    Journal of International Money and Finance, 2015, 51, (C), 137-154 View citations (93)
    See also Working Paper Macroprudential policy and imbalances in the euro area, NBP Working Papers (2013) View citations (28) (2013)
18. Small assumptions (can) have a large bearing: evaluating pension system reforms with OLG models
    Economic Modelling, 2015, 48, (C), 210-221 View citations (9)
    See also Working Paper Small assumptions (can) have a large bearing: evaluating pension system reforms with OLG models, Working Papers (2014) View citations (1) (2014)
19. Unprivatizing the pension system: the case of Poland
    Applied Economics, 2015, 47, (8), 833-852 View citations (9)
    See also Working Paper Unprivatizing the Pension System: The Case of Poland, Working Papers (2013) View citations (3) (2013)

2014

20. Dollarization as a signaling device
    Bank i Kredyt, 2014, 45, (1), 17-36
    See also Working Paper Dollarization as a Signaling Device, NBP Working Papers (2009) View citations (1) (2009)
21. Would it have paid to be in the eurozone?
    Economic Modelling, 2014, 41, (C), 66-79 View citations (7)
    See also Working Paper Would it have paid to be in the eurozone?, Working Papers (2013) View citations (1) (2013)

2013

22. Assessing macro-financial linkages: A model comparison exercise
    Economic Modelling, 2013, 31, (C), 253-264 View citations (24)
    See also Working Paper Assessing macro-financial linkages: A model comparison exercise, Discussion Papers (2012) View citations (8) (2012)
23. MONETARY POLICY IN A NON-REPRESENTATIVE AGENT ECONOMY: A SURVEY
    Journal of Economic Surveys, 2013, 27, (4), 641-669 View citations (7)
    See also Working Paper Monetary policy in a non-representative agent economy: A survey, NBP Working Papers (2011) View citations (1) (2011)
24. The anatomy of standard DSGE models with financial frictions
    Journal of Economic Dynamics and Control, 2013, 37, (1), 32-51 View citations (65)
    See also Working Paper The anatomy of standard DSGE models with financial frictions, NBP Working Papers (2011) View citations (9) (2011)
25. The business cycle implications of the euro adoption in Poland
    Applied Economics, 2013, 45, (17), 2443-2455 View citations (16)

2012

26. Division of Labour and Innovation with Indivisibilities: Lessons from A. Smith
    Bank i Kredyt, 2012, 43, (6), 7-28

2011

27. Credit crunch in a small open economy
    Journal of International Money and Finance, 2011, 30, (7), 1406-1428 View citations (40)
    See also Working Paper Credit Crunch in a Small Open Economy, NBP Working Papers (2010) View citations (7) (2010)