Animal Spirits And Business Cycle – The Case Of Poland

Abstract :

The paper integrates the ‘animal spirits’ hypothesis and business cycle in the new environment i.e. ?emerging market of bonds with non-residents as the investors in Poland.? The main aim of it is to show the investments and investors from different perspective.? The paper will prove that according to macroeconomics factors, the non-residents should buy bonds, but they behave irrational.