ul.Madalińskiego 6/8, bud. M p.219
Program „Capital Markets and Finance in the Enlarged
- one semester scholarship at
1996 – 2001
majors: finance and banking, quantitative methods and information systems.
2001 – now Lectures and exercise classes for undergraduate students at Warsaw School of Economics:
(2) advanced econometrics – nonlinear models
(3) financial econometrics (also for PhD students)
2003 Lectures on financial contagion for Ph.D. students at the European University Viadrina
2004 Lectures on asset pricing for undergraduate students at the European University Viadrina
1996 – 2001 internships at National Bank of Poland, ING Bank, and PKO Bank Polski, and two market research companies.
2001 – present Lecturer at Warsaw School of Economics
2004 – present Economic expert at the National Bank of Poland, Financial Stability Department
More important presentations during scientific conferences
2006-present several presentations in the National Bank of Poland and in other European central banks,
Warsaw School of Economics, University of Munster, Germany, G-20 Financial Systemic Risk Conference, Istanbul, Turkey.
,Symposium on International Equity Market Integration,
3rd International Conference of the Portuguese Finance Network,
“Forecasting Financial Markets and Economic decision-making” Łódź,
European Summer Symposium in Financial Markets (CEPR),
Symposium on International Equity Market Integration,
and Finance Society,
More important publications in refereed international journals
Identifying multiple regimes in the model of credit to households, accepted for publication in: International Review of Economics and Finance.
Banking crises and nonlinear linkages between credit and output, Applied Economics 44, 2012, 1025 – 1040.
Larger crises cost more: impact of banking sector instability on output growth, Journal of International Money and Finance 29, 2010, 1463 – 1481.
(with Adam Pawlikowski) The costs of banking sector restructuring in Poland, Bank & Credit 8/9, 2007, 84 – 95.
(with Bartosz Gębka) Intra- and Inter-regional Spillovers between Emerging Capital Markets around the World, Research in International Business and Finance 21, 2007, 203 – 221.
(with Jędrzej Białkowski and Martin T. Bohl) Testing for Financial Spillovers in Calm and Turbulent Periods, Quarterly Review of Economics and Finance 46, 2006, 397 – 412.
Do Emerging Financial Markets React to Monetary Policy Announcements? Evidence from Poland, accepted for publication in Applied Financial Economics 16, 2006, 513 – 523.
(with Bartosz Gębka) Are Financial Spillovers Stable Across Regimes? Evidence from the 1997 Asian Crisis, Journal of International Financial Markets, Institutions and Money 16, 2006, 301 – 317.
(with Jędrzej Białkowski) Financial Contagion, Spillovers, and Causality in the Markov Switching Framework, Quantitative Finance 5, 2005, 123 – 131.
(with Martin T. Bohl) Financial Contagion Vulnerability and Resistance: Empirical Evidence on Emerging European Capital Markets, Economic Systems 29, 2005, 344 – 362.
Other more important research
(in Polish) Predicting currency crises – early warning system for Poland, Bank i Kredyt 9, 2005.
(with Agnieszka Smolińska-Skarżyńska – in Polish) Reaction of foreign exchange rate to interest rate changes – event study approach, Bank i Kredyt 1, 2004.
(with Wanda Marcinkowska-Lewandowska – in Polish) Two threshold models to analyze financial markets, in: Waldemar Tarczyński (ed.) Capital Market, Effective Investing, 2002.
(with Michał Rubaszek – in Polish) Forecasting foreign exchange rate. Risk-premium model, Bank i Kredyt 9, 2001.
(with Michał Rubaszek and Wanda Marcinkowska-Lewandowska – in Polish) Analysis of the foreign exchange rate (title in Polish: Analiza kursu walutowego), to be published, C.H. Beck, Warsaw, 2009.
Refereed for: Economic Systems, Applied Economics, Bank & Credit, NBP Working Paper Series, CEJEME, Journal of Multinational Financial Management, Emerging Markets Finance and Trade, Eastern European Economics, Journal of International Money and Finance, several scientific conferences
Associate editor: Bank & Credit
Associate editor: Bank & Credit
Awards and scholarships
One semester scholarship at
2001 Distinction from the president of the Warsaw School of Economics for the paper “Modeling foreign exchange rate. Risk-premium model” (with Michał Rubaszek – in Polish).
2001-2004 Ph.D. scholarship at the European University Viadrina.
2005, 2006 Foundation for Polish Science Award for young economists (two times),
Research grant from the Ministry of Science
and Higher Education
from the Ministry of Science and Higher Education
Polish (fluent), English (very good), German (advanced), Spanish (very basic)
Econometrics of financial markets, nonlinear
econometric models, financial crises and contagion, banking sector and financial markets ,
, monetary policy
Born: March 2,
Other interests: Sailing, football, chess