Balance sheet effect in the Polish economy
AbstractPaper refers to the relations between real economic activity and the state of nancial sys- tem. It presents how the balance sheet e ect works and how it in uences the real economic activity and the e ectiveness of the monetary policy. The empirical part of the paper presents the theoretical model, which is derived from classic assumptions. On the basis of this model, the balance sheet e ect in the Polish economy is verifed. The verifcation process is conducted on the basis of individual fnancial statements of 27 730 Polish companies encompassing period between 2002-2007.
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Bibliographic InfoPaper provided by Department of Applied Econometrics, Warsaw School of Economics in its series Working Papers with number 55.
Length: 17 pages
Date of creation: 26 Jul 2011
Date of revision:
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More information through EDIRC
CCAPM; economic growth; nancial markets; term spreads; expectations;
Find related papers by JEL classification:
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
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