1. Department of Central Banking and Financial Intermediation, Institute of Finance, Faculty of Economics and Sociology, University of Lodz, 39 Rewolucji 1905 Street, Lodz, 90-214, Poland
2. Department of Econometrics, Institute of Econometrics, Faculty of Economics and Sociology, University of Lodz, 39 Rewolucji 1905 Street, Lodz 90-214, Poland
3. Department of International Finance and Investment, Institute of International Economics, Faculty of Economics and Sociology, University of Lodz, 39 Rewolucji 1905 Street, Lodz 90-214, Poland