The Role of the Exchange Rate in Poland’s Economy. The Empirical Verification of the Dornbusch Model During the Period of 2007 to 2009

The paper aims to statistically verify the assumptions of the Dornbusch model in Poland’s economy in the years from 2007 to 2009. The study determines the role of the exchange rate in achieving equilibrium in the financial market in Poland and the effectiveness of the exchange rate adjustment mechanism: the rate – price in achieving the equilibrium of trade balance. The conclusions allow us to formulate recommendations as regards the role of the exchange rate in economic policy, which has a significant meaning in the process of Poland’s accession to the euro zone.