Modern pension schemes are based on the delegation of responsibility for pension provision from state institutions to individuals, which implies voluntary retirement saving. Workers for profit (independent workers in household market enterprises) hold much greater personal responsibility for financing their pensions than workers for pay. The main aim of this study was to provide an empirical identification of economic and social factors that would determine the propensity toward long-term saving for pensions by independent, for-profit workers in Poland. Additionally, the study recognizes the level of saving accumulated by them as well as preferred forms in which this saving is made.In order to select determinants of pension saving, a logistic regression model was used. The data come from the direct survey conducted in 2020 by CAWI method (Computer-Assisted Web Interview) on a random nationwide sample of Poles. The analysis of the data also used other methods of descriptive and mathematical statistics. The conducted research showed that the respondents’ individual decisions concerning saving for retirement are affected by such factors as gender, age, family situation, amount of revenue, share of revenue from business activity in total revenue, and subjective assessment of the respondents’ financial situation. The respondents declared holding various, though not high, savings. Moreover, it turned out that independent workers for profit in Poland opt for non-conventional forms of gathering pension savings.

Purpose:This paper sets out to analyze the impact of the pandemic on selected sectors of the economy and specific companies within the industries most affected by the pandemic-related crisis. Approach/Methodology/Design: The study covers selected parameters of financial performance (operating revenues, operating profit/loss, gross profit, total cash flow, cash flow from operating activities, cash flow from investing activities, net cash flow ) on a sample of 115 companies listed on the Warsaw Stock Exchange (WSE) for the period of the first half of 2019 and the first half of 2020. Findings: The results confirm that the exogenous demand and supply side shock has had a varied impact on sectors of the economy and different companies within the same industries. Large enterprises cope better with the effects of the pandemic. Practical Implications: This research and its results may be helpful for managers in crisis management in enterprises and for the government in adjusting the scope and forms of support for enterprises affected by the pandemic. Originality/Value: This study fills a gap in the literature by analyzing the impact of the economic crisis on the financial results of individual industries and enterprises in Poland. The research pointed out that the impact of the pandemic on the financial situation of enterprises within one industry isn't uniform and one-way (some companies improve their financial performance and others post a significant deterioration in their financial standing) and the large enterprises cope better with the effects of the demand and supply side shock.

The use of cashless payment instruments has been on an increase over many years now. At the same time, demand for cash has been on the rise as well and we can observe a particularly high level of growth demand for banknotes during crisis times. The increase in demand for cash known as the “banknote paradox” is a phenomenon observed in many economies. It results from the existence of two streams of demand for cash - transactional and precautionary, and the differences in the directions of their changes from the point of view of the central bank and other entities involved in cash transactions, since it enables the optimization of cash supply management, which allows, on the one hand, to reduce the costs of cash processing and, on the other hand, to improve the effectiveness of monetary policy. This paper estimates the share of the transaction demand for cash with the aggregate demand. The strength and direction of the impact of selected macroeconomic and behavioural factors (uncertainty caused by the Global Financial Crisis and the Pandemic Crisis) on transaction and precautionary demand for cash were also assessed. A novel approach to the problem of demand for cash is based on considering the impact of macroeconomic shocks in the form of crises on the demand for cash.

Communication policy of central banks in the framework of direct inflation targeting strategy and related strategies is important. Its tools include forward guidance as a method of influencing the expectations of market participants. Although forward guid a method of influencing the expectations of market participants. Although forward guidance was used before the outbreak of the financial crisis, it was not popular. After 2008, under conditions of zero interest rate, monetary authorities have begun to use the forward guidance as an unconventional and effective instrument allowing monetary policy to have impact on market interest rates. However, the risks when using forward guidance include the possibility of misinterpretation of the conditional nature of the declaration of the monetary authorities.