English, Article, Journal or magazine article edition: Structural heterogeneity or asymmetric shocks? Poland and the euro area through the Marcin Kolasa

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Bookmark: http://trove.nla.gov.au/version/196889
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Structural heterogeneity or asymmetric shocks? Poland and the euro area through the
Author
  • Marcin Kolasa
Physical Description
  • preprint
Notes
  • This paper presents a two-country model linking Poland and the euro area and applies it for assessment of heterogeneity across these two regions. Overall, our results can be seen as rather inconclusive about the differences in parameters describing agents’ decision-making in Poland and in the euro area. On the contrary, we find strong evidence for heterogeneity in terms of volatility and synchronization of shocks hitting both economies. Our results may be viewed as a step towards estimating the costs of Poland’s entry to the European Monetary Union, associated with giving up the monetary autonomy and losing benefits from stabilizing movements of the exchange rate.
  • two-country DSE, Bayesian estimation, heterogenity
  • RePEc:nbp:nbpmis:49
Language
  • English
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