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    <title>EconStor Community: Center for Social and Economic Research (CASE), Warsaw</title>
    <link>https://hdl.handle.net/10419/87580</link>
    <description>Center for Social and Economic Research (CASE), Warsaw</description>
    <pubDate>Tue, 28 Apr 2026 11:38:47 GMT</pubDate>
    <dc:date>2026-04-28T11:38:47Z</dc:date>
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      <title>Excess liquidity in the euro area: Sources and remedies</title>
      <link>https://hdl.handle.net/10419/300134</link>
      <description>Title: Excess liquidity in the euro area: Sources and remedies
Authors: Dąbrowski, Marek
Abstract: The excess liquidity in the euro area is a product of a long period of quantitative easing. It changed the operational framework of the European Central Bank (ECB)'s monetary policy from the scarce reserves system (SRS) to the abundant reserves system (ARS). To eliminate excess liquidity and return to the SRS, the ECB must intensify quantitative tightening, which is also essential for successful disinflation. Fiscal adjustment can help in this process and mitigate the risk of financial instability. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 25 September 2023.</description>
      <pubDate>Sun, 01 Jan 2023 00:00:00 GMT</pubDate>
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      <dc:date>2023-01-01T00:00:00Z</dc:date>
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      <title>Anti-fragmentation: an incomplete diagnosis and wrong solution</title>
      <link>https://hdl.handle.net/10419/300126</link>
      <description>Title: Anti-fragmentation: an incomplete diagnosis and wrong solution
Authors: Dąbrowski, Marek
Abstract: The euro area suffers from excessive public debt, which is the primary cause of the so-called fragmentation. It should be remedied by fiscal consolidation instead of the quasi-fiscal activities of the European Central Bank, which are inconsistent with its legal status, compromise its independence and undermine its price stability mandate. When targeted market intervention is necessary, it should be provided by the European Stability Mechanism. This paper was provided by the Policy Departmentfor Economic, Scientific and Quality of Life Policies at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 26 September 2022.</description>
      <pubDate>Sun, 01 Jan 2023 00:00:00 GMT</pubDate>
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      <dc:date>2023-01-01T00:00:00Z</dc:date>
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      <title>Stolen decades: The unfulfilled expectations of the Belarusian economic miracle</title>
      <link>https://hdl.handle.net/10419/299167</link>
      <description>Title: Stolen decades: The unfulfilled expectations of the Belarusian economic miracle
Authors: Alachnovič, Aleś; Korosteleva, Julia
Abstract: The case of the Belarusian economy has puzzled many academic scholars for years. Belarus has often been referred to as a transition outlier, given its relatively fast recovery in 1996 and spectacular growth prior to the global financial crisis without much transformation of its economy. Three decades after gaining its independence, the state control of the economy still remains considerably high. Subsidized financing of state-owned enterprises allowed to preserve production capabilities over the first decade, achieve some productivity gains in the late 1990s-early 2000s, and to avoid social destabilization. However, with a delay in structural reforms, this economic model, also heavily dependent on the Russian subsidies and foreign debt, has become fatigue, driving the economy into stagnation in the 2010s. The Covid-19 pandemic, the 2020 post-presidential political crisis and Russia's war in Ukraine in 2022 put further strains on the economy, calling for change. This working paper will give an overview of the Belarusian economic developments before the presidential elections to have a better understanding of how various rigidities of the Belarusian economic model have amplified the detrimental effect of the political unrest for the economy and the Belarusian society overall, and will discuss the anticrisis and mid-term economic reforms Belarus will have to undergo.</description>
      <pubDate>Sat, 01 Jan 2022 00:00:00 GMT</pubDate>
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      <dc:date>2022-01-01T00:00:00Z</dc:date>
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      <title>Inwestycje i ich determinanty a wzrost gospodarczy Polski w długim okresie</title>
      <link>https://hdl.handle.net/10419/261108</link>
      <description>Title: Inwestycje i ich determinanty a wzrost gospodarczy Polski w długim okresie
Authors: Hagemejer, Jan; Poniatowski, Grzegorz; Pechcińska, Agnieszka; Turgut, Mehmet Burak; Śmietanka, Adam</description>
      <pubDate>Fri, 01 Jan 2021 00:00:00 GMT</pubDate>
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      <dc:date>2021-01-01T00:00:00Z</dc:date>
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