The objective of the paper is to discuss the role of discretionary fiscal policy in a low interest rate economies. The first section presents some common arguments against the discretionary fiscal policy. They rest on ...

The economic transition and the later worsening of the economic situation led to the worsening of the financial situation of Polish firms. Since 1990, the state has taken the decision to use “soft” budgeting (cancel ...

The paper examines Taylor rule as an example of active rules. This sort of rules reacts in response to changes in economy (f.e. in rate of unemployment or price level). The first part of paper presents evaluation of ...

The article presents a theoretical shadow economy model based on Cobb-Douglas production function with decreasing returns to scale. The whole economy is divided into formal and informal sector with each enterprise operating ...

Tax rates maximising the households’ utility under wage rate uncertainty are analyzed in the article. It is assumed in the article that each household with probability π₁ obtains wage rate w₁ and with probability π₁ ...

he objective of the article is an analysis of influence of a degree of central bank independence on a rate of inflation. Inflation theories of dynamic inconsistency were developed e.g. by Kydland and Prescott [1977], ...

Conception of Ecological Tax Reform is reduced to shift the burden of the tax from work and capital to increase severance tax and to increase taxation emitted into the environment pollution. By ETR we can improve our ...

This paper discusses arguments for and against ecological tax reform. Growing environmental problems, permanent high unemployment rate, unsatisfactory pace of economical growth and growing average age of population tn ...

The main problem this article attempts to solve is the question if there is a theoretical connection in the analysis of money demand between the attitude represented by the quantity theory of money and Keynes’s attitude. ...