Modern central banks have adopted a ‘risk management’ approach in assessing and presenting risks to macroeconomic stability. This paper seeks to contribute to the improvement of central banks’ current strategies for Central and Eastern European countries, first by assessing the potential size of macroeconomic risks, and secondly by empirically relating these risks to [...]
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Posted on October 3rd, 2011
Posted on June 14th, 2011
Contents: Posted on December 13th, 2010
although in modern monetary economics it is usually assumed that inflation expectations play a prominent role when economic agents set prices and wages, the empirical evidence for this link is scarce. This paper aims to identify the effect of changes in inflation expectations on prices and wages in an sVaR framework for three [...] Posted on December 6th, 2010
The Magyar Nemzeti Bank has published its latest Quarterly Report on Inflation. The Report finds that the main source of mounting inflationary pressure in the Hungarian economy has been the recent sharp increase in unprocessed food prices; and the pass-through effects of that increase are increasingly less constrained by rising domestic demand. The [...] Posted on November 24th, 2010
The Magyar Nemzeti Bank’s November 2010 Report on Financial Stability states that domestic banks may experience disadvantages in the parent banks’ funding allocation, due to deterioration in their competitiveness within Central and Eastern Europe. The strong Swiss franc, the bank levy and the moratorium on foreclosures and evictions, have had a negative effect [...] 3 pages
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