Working Papers

The WNE Working Papers series has been published by the Faculty of Economic Sciences at the University of Warsaw since 2008.

The WNE Working Papers series provides a fast, open channel for disseminating research conducted at the Faculty of Economic Sciences, University of Warsaw. The papers hosted here are working versions (pre-prints) and may evolve as authors refine their analyses, incorporate feedback, or progress through formal peer-review. What you read is the current version released by the authors, timestamped and assigned DOI/ISSN identifiers to ensure precise citation and version tracking. Copyright remains with the authors, who may, at any time, upload a revised file or add a note directing readers to a later, peer-reviewed publication.

The Working Papers series accepts articles by research employees of the Faculty and publications from conferences organised at the Faculty of Economic Sciences at the University of Warsaw. Articles should be original research papers which have not been previously published, on the subject of economics.

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Number of Results 7

WP(2/2021)350. The effects of child benefit on household saving

Authors: Liberda Zofia Barbara, Sałach Katarzyn, Pęczkowski Marek
In 2016, a new child benefit was introduced in Poland: a universal benefit for the second and subsequent children in a family and means tested for the first child. Substantial transfers of the new child benefit were granted 60% of households with chi…

WP350. The effects of child benefit on household saving

In 2016, a new child benefit was introduced in Poland: a universal benefit for the second and subsequent children in a family and means tested for the first child. Substantial transfers of the new child benefit were granted 60% of households with children. The generous child benefit, equal to 10% of monthly median households' income, caused an unexpected positive income shock for families with children. In this paper, we investigate how the new child benefit affects the household decisions to consume or save the child's income. Applying the difference-in-differences method and Polish Household Budget Survey data for the years 2012-2018, we find a positive effect of the child benefit on household saving. Our estimates indicate that families obtaining the child benefit (treatment group) increased the saving rate by 8 percentage points after the child benefit reform in 2016. Over time, the control group (not obtaining the child benefit) raised the saving rate by 2.9 percentage points.


Liberda Zofia Barbara, Sałach Katarzyn, Pęczkowski Marek
households income child benefit saving

WP(13/2014)130. Determinants of saving in Poland: Are they different than in other OECD countries?

Authors: Kolasa Aleksandra, Liberda Zofia Barbara
This paper studies the drivers of total private and household savings in Poland and compares them to those in developed countries. To this end, the two types of saving regressions are estimated: one based on an annual panel of OECD countries and the …

WP130. Determinants of saving in Poland: Are they different than in other OECD countries?

This paper studies the drivers of total private and household savings in Poland and compares them to those in developed countries. To this end, the two types of saving regressions are estimated: one based on an annual panel of OECD countries and the other using Polish quarterly time series. Compared to an ?average? OECD country, the Polish private and household saving rates are more affected by the process of financial deepening. Moreover, they are also more sensitive to changes in government and corporate savings.


Kolasa Aleksandra, Liberda Zofia Barbara
private savings household savings Poland panel study saving determinants

WP(19/2012)85. Polarization of household saving in Poland during financial crisis 2007-2010

Authors: Liberda Zofia Barbara, Pęczkowski Marek
In this paper we analyse the changing structure of Polish households with regard to the household saving rates in 2007-2010 and compare it with similar distribution of household saving during 1997-2000. The analysis is based on the household budget p…

WP85. Polarization of household saving in Poland during financial crisis 2007-2010

In this paper we analyse the changing structure of Polish households with regard to the household saving rates in 2007-2010 and compare it with similar distribution of household saving during 1997-2000. The analysis is based on the household budget panel data from three panels of 15,000 of Polish households selected by authors for years 2007-2008, 2008-2009 and 2009-2010 from the Household Budget Surveys for 2007-2010. We estimate the long-term ergodic distribution of households according to saving rates. Our results show that the long term distribution of households reveals a tendency towards polarization of households with regard to saving rates. Comparing these results with the Authors' previous research for 1997-2000 for Poland we indicate that between 1997-2000 and 2007-2010 the change in polarization of households was asymmetrical towards the highest saving rate groups. That explains why Polish households could maintain the increase in savings during the financial crisis of 2007-2010.


Liberda Zofia Barbara, Pęczkowski Marek
household saving polarization Markov matrix ergodic distribution panel analysis

WP(8/2011)48. Earning and saving competences of individuals in a local community in Poland

Authors: Liberda Zofia Barbara, Szymczak Magdalena
The aim of this paper is to identify variables that affect the capability of an individual to earn and save income. Our hypothesis is that besides demographic and human capital determinants, social, cultural and psychological variables affect strongl…

WP48. Earning and saving competences of individuals in a local community in Poland

The aim of this paper is to identify variables that affect the capability of an individual to earn and save income. Our hypothesis is that besides demographic and human capital determinants, social, cultural and psychological variables affect strongly the individual's earning and saving competences. We test our hypothesis using a method of decision tree (Exhaustive search Chi - squared Automatic Interaction Detection) to identify the earning and saving competences of individuals in Poland. In the decision tree analysis we found factors that are conducive for earning and saving. These factors includes: fairness, attitude towards cheating at exams, tolerance towards persons of different religion and different skin color, trust in judges and scientists, social risk aversion, evaluating own health status, asking for advice. This theoretical approach is applied to micro data from a Survey on Civilization Competences of individuals in local communities conducted in July-September 2009 in five regions of Poland.


Liberda Zofia Barbara, Szymczak Magdalena
earning saving capability competence income municipality

WP(3/2011)43. How do we value our income from which we save?

Authors: Liberda Zofia Barbara, Pęczkowski Marek, Gucwa-Leśny Ewa
In this paper we analyze the relationship between the perception of income as satisfying household needs and saving rate of this household. Using the multinomial logit regression function we measure the probability of a household to fall into one of …

WP43. How do we value our income from which we save?

In this paper we analyze the relationship between the perception of income as satisfying household needs and saving rate of this household. Using the multinomial logit regression function we measure the probability of a household to fall into one of the groups categorized by the subjective perception of income in relation to the current household disposable income. The variable specified for the valuation of income is income perception, defined as a class of observed disposable income located on the scale of the subjectively satisfying income. Factors determining the perception of income are: gender and education of the household head, family characteristics, source of income and place of residence. The analysis of relations between the income perception and the household saving rates shows that the perception of income affects both the household observed and predicted saving rates. The research is based on the Household Budget Surveys data for Poland in 2008. (Revised version: October 2012)


Liberda Zofia Barbara, Pęczkowski Marek, Gucwa-Leśny Ewa
household income needs valuation saving probability

WP(2/2011)42. Impact of GDP volatility on current account balances

Authors: Brzozowski Michał, Prusty Sadananda
This paper empirically investigates the impact of GDP volatility on current account balances for a large sample of developed and developing countries. We extend the standard set of short- and long-term determinants of current accounts to include GDP …

WP42. Impact of GDP volatility on current account balances

This paper empirically investigates the impact of GDP volatility on current account balances for a large sample of developed and developing countries. We extend the standard set of short- and long-term determinants of current accounts to include GDP volatility computed from the annual growth rate of GDP. It turns out that for low income countries the impact of GDP volatility on their current account balances is negative, whereas the reverse is true for high income countries. The intertemporal approach to the balance of payments followed in this paper suggests that a diverse response of current account balances to GDP volatility can be due to the different degree of shock persistence in developed and developing countries.


Brzozowski Michał, Prusty Sadananda
current account savings investment volatility

WP(/2008)6. Foreign Debt And Domestic Savings In Developing Countries

Authors: Okafor Luke Emeka, Tyrowicz Joanna
This paper approaches the question of potential causality between foreign debt and domestic savings in the context of developing countries. Literature provides evidence in as far as foreign debt and development is concerned, but little attention was …

WP6. Foreign Debt And Domestic Savings In Developing Countries

This paper approaches the question of potential causality between foreign debt and domestic savings in the context of developing countries. Literature provides evidence in as far as foreign debt and development is concerned, but little attention was given so far to internal potential for capital formation. We provide a theoretical framework and test its relevance using 1975-2004 data for two groups of countries: sub-Saharan Africa and Latin America with the Caribbean. With the use of instrumental variables we find negative impact of foreign debt on domestic savings especially in the long run. The results are not susceptible to the choice of countries or outliers. However, the relationship between foreign debt and savings seems to depend on debt accumulation gaining significance only after passing a country specific threshold.


Okafor Luke Emeka, Tyrowicz Joanna
foreign debt domestic savings Latin America Africa MIU
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