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3 Olsztyn Economic Journal

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MONETARY POLICY UNDER CONDITIONS OF 'NAIRU' FLATTENING

100%

Balcerzak A.

Olsztyn Economic Journal

2009

tom 4

nr 1

95-105

The last decades represent a period of global economy fast transformation, which is reflected in the real life and leads to changes in relations between the situation in the labour market and the inflation processes. Those changes are frequently referred to as 'NAIRU' flattening. It can be expected that it will bring important consequences for the process of national monetary policy development in individual countries. The aim of the paper is to present analysis of the influence of NAIRU flattening on the effectiveness of the national monetary policy and effectiveness of its tools.

LIMITATIONS OF THE NATIONAL ECONOMIC POLICY IN THE FACE OF GLOBALIZATION PROCESS

100%

Balcerzak A.

Olsztyn Economic Journal

2009

tom 4

nr 2

279-290

The article touches upon the problem of government's role evolution, which is the result of globalization process. The thesis of the paper says that a government is not able to stop and create efficient obstacles for the globalization process. When a government creates national economic policy it can only actively react to the evolution of modern global economy in a way, which is not contradictory to the basic Hayekian spontaneous forces of globalization.

CHOSEN PROBLEMS OF THE EURO ZONE ENLARGEMENT

51%

Balcerzak A. , Gorecka D. , Rogalska E.

Olsztyn Economic Journal

2007

tom 2

nr 1

1-11

The article investigates a problem of the euro introduction by new members of the European Union. It presents some potential benefits and costs of entry to European Monetary Union in the context of its present and future functioning. Then it discusses some advantages and disadvantages of postponing joining the euro-zone. Besides, potential meaning and consequences of giving a target date of introduction of the euro by a country and possible scenarios that can be taken at this way are presented in the paper. Since the 1st January 2007 Euroland comprises 13 countries. The finance ministers of EU member states have approved of Slovenia's admission to the euro area. The application of Lithuania was rejected - European Commission and European Central Bank have judged that it has not fulfilled the inflation convergence criterion. With regard to this event, the article touches an issue of the need for reconsidering the Maastricht criteria which presently seem to be a source of many content-related and interpretation doubts. It also investigates the requirement for adjusting the convergence criteria to the fact that the euro-zone has already been in existence.