Monetary policy transmission mechanism in Poland What do we know in 2023?
Michal Greszta,
Marcin Humanicki,
Mariusz Kapuściński,
Tomasz Kleszcz,
Andrzej Kocięcki,
Jacek Kotłowski,
Michał Ledóchowski,
Michał Łesyk,
Tomasz Łyziak,
Mateusz Pipień,
Piotr Popowski,
Ewa Stanisławska,
Karol Szafranek,
Grzegorz Szafrański,
Dorota Ścibisz,
Grzegorz Wesołowski and
Ewa Wróbel
Additional contact information
Tomasz Kleszcz: Narodowy Bank Polski
Jacek Kotłowski: Narodowy Bank Polski
Michał Ledóchowski: Narodowy Bank Polski
Michał Łesyk: Narodowy Bank Polski
Piotr Popowski: Narodowy Bank Polski
Dorota Ścibisz: Narodowy Bank Polski
Ewa Wróbel: Narodowy Bank Polski
No 365, NBP Working Papers from Narodowy Bank Polski
Abstract:
This report presents the current body of knowledge on the monetary transmission mechanism in Poland. The presented findings confirm the impact of short-term interest rates on a range of macroeconomic variables, indicating in particular that following a monetary policy tightening there is – ceteris paribus – an appreciation of the domestic currency, and, with a lag, a decrease in the volume of credit, economic activity, and inflation.
Pages: 121
Date: 2023
New Economics Papers: this item is included in nep-ban, nep-cba, nep-mon and nep-tra
Note: The report presents the opinions of its authors and should not be interpreted as the view of Narodowy Bank Polski. The authors are grateful to Piotr Szpunar for his valuable comments to the report.
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Persistent link: https://EconPapers.repec.org/RePEc:nbp:nbpmis:365
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