A review of the contemporary mainstream literature on exchange rate modelling clearly indicates that the rational expectations hypothesis (RE) is almost invariably taken as a point of reference in empirical investigations. This paper tests the RE hypothesis for the Polish foreign exchange market within the Roman Frydman and Michael Goldberg model that builds on the hypothesis of imperfect knowledge economics (IKE). The employed modelling strategy consists in the formulation of assumptions about the persistence of nominal rate, prices and interest rates and of the verification of competing scenarios congruent with RE and IKE. As a result of the analysis, the RE hypothesis is rejected in favour of the IKE alternative.

Meteorological conditions at Arctowski Station during 2013–2017 were presented against the background of regional climate changes, especially air temperature decline. Air temperature, relative air humidity, air pressure, solar radiation, wind speed and direction, snow cover and precipitation were collected with an automatic weather station and manual measurements and were further analysed. The obtained results were compared with data from previous years and with data from other stations located on King George Island. Our observations confirm that the vicinity of Arctowski Station experienced a decrease in air temperature during summer, which supports the hypothesis of regional cooling.