Płynny kurs walutowy jako automatyczny stabilizator koniunktury na przykładzie polskiej gospodarki
Floating exchange rate of the Polish zloty as a natural shock absorber

Summary/Abstract: According to the theory of economics the changes of the exchange rate can act as an automatic stabiliser, which means: the macroeconomic boom and bust cycles are usually accomponied by the appreciation/depreciation of the exchange rate and that in turn should mitigate cyclical fluctuations. The aim of the ariticle is to evaluate the occurance of such a mechanism using the example of Polish economy. The author conducts an analysis of the correlation between the movements of the EUR/PLN exchange rate and the changes in the GDP growth and the output. The paper applies a simple method based on the Pearson linear correlation coefficient. According to the analysis there is an interaction between the volatility of the exchange rate of the Polish currency and the changes in GDP, but it is a weak dependency.

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