Dr Jagoda Kaszowska-Mojsa


Senior Economist at the Bank of Poland; Researcher at the Institute of Economics, Polish Academy of Sciences



Jagoda Kaszowska-Mojsa re-joined the Macroprudential Policy Division at the National Bank of Poland in October 2023, after spending two years as a Maria Skłodowska Curie Research Fellow at the University of Oxford (Institute for New Economic Thinking & Mathematical Institute). She also works a Research Fellow at the Institute of Economics, Polish Academy of Sciences and a lecturer at Cracow University of Economics in Poland.

Dr Kaszowska-Mojsa actively collaborates with both policymakers and practitioners. She has worked as a Senior Economist in the Macroprudential Research Division, Financial Stability Department at the National Bank of Poland, and also participated in the European Systemic Risk Board’s Joint ATC-ASC Expert Group meetings on Interconnectedness in Frankfurt. She was trained by and is collaborating with researchers at the International Monetary Fund, European Central Bank, European Systemic Risk Board and national central banks.

Her research focuses on the systemic risk, financial (in)stability and the welfare effects of macroprudential policies and regulations, AI in finance and agent-based modelling.

The primary aim of her recent project, MACROPRU, was to investigate how new macroprudential policies can influence financial stability without contributing to inequality in society. In this project, she aimed to apply cutting-edge, agent-based simulation techniques to uncover the redistributive effects of macroprudential policies and to examine the optimal combination of macroprudential tools from a social welfare perspective. The results of this project complemented the conclusions that have been drawn from the ECB's system-wide stress-testing exercises by providing data on the rise of inequality in EU countries due to its adoption of new financial regulations. This project has received funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Skłodowska-Curie grant agreement No 101023445.

Dr Kaszowska-Mojsa graduated in Economics (University of Alcala, Spain) and Mathematics (Jagiellonian University, Poland). She holds a PhD in Economics and Finance from Cracow University of Economics (Poland). Her doctoral dissertation was nominated for the Prime Minister's Award in Economics for the best doctoral dissertation, and also won the Central Statistical Office’s competition for outstanding doctoral dissertation. As a Fulbright Scholar, she conducted her PhD research in the United States. Her research was funded by the National Bank of Poland, Ministry of Education in Poland, National Science Centre, European Commission and Santander Bank.