Maciej Stefański

Journal articles

Macroeconomic Effects and Transmission Channels of Quantitative Easing, Economic Modelling, 114, 105943 (2022) | [Published article] | [KAE Working Paper]

GDP Effects of Pandemics: A Historical Perspective, Empirical Economics, 63 (6), 2949–2995 (2022) | [Published article] | [KAE Working Paper] | Obserwator Finansowy: [pl] [en]

To What Extent does Convergence Explain the Slowdown in Potential Growth of the CEE Countries Following the Global Financial Crisis?, Eastern European Economics, 59 (3), 199-224 (2021) | [Published article] | [KAE Working Paper]

Working Papers

Quantitative Easing During the COVID-19 Pandemic: A Cross-Country Study (2023), SGH KAE Working Paper, 2023/088

The Impact on the Polish Economy of the Structural Open Market Operations Programme Conducted by NBP, with Katarzyna Hertel, Marcin Humanicki, Marcin Kitala, Tomasz Kleszcz, Kamila Kuziemska-Pawlak, Jakub Mućk and Bartosz Rybaczyk (2022), NBP Working Paper, 343

Natural Rate of Interest in a Small Open Economy with Application to CEE Countries (2019) | [link]

Other publications

EY European Economic Outlook - July 2023, with Marek Rozkrut (07/23) | [Executive summary] | [Abridged report]

Powszechne twierdzenia na temat gospodarek rozwiniętych to mity (01/20), Obserwator Finansowy

Zagadka niskiej inflacji ma wiele wyjaśnień, with Juliusz Jabłecki (04/18), Obserwator Finansowy

Riskbank prognozuje własne stopy gorzej niż rynek, with Anna Wojtyniak (07/17), Obserwator Finansowy

Small and medium enterprises in Poland - obstacles and development, with Adam Czerniak (2016), Polityka Insight Research

Non-paper presentations

Monetary Policy of the NBP in a Changing External Environment, 16th Annual NBP-SNB Joint Seminar (12/19) [presentation]