We use a unique cross-section survey of manufacturing firms from four European countries (France, Germany, Italy, Spain) linked with balance sheet data to study the relationship between key aspects of globalization and firm-level markups. The main results are: (i) Exporting is positively...

Global Value Chains play an increasing role in production and export in modern economies. Being part of such global chains can fundamentally affect the performance of a firm, a country, or an industry. In this study, we analyze the production and export of intermediate products and capital goods...

This study employs the hedonic property price method to analyze the flood risk effect on a rich set of data. The analysis is carried out on Hungary, but as the control variables are extremely elaborated, our results have general importance. The paper finds a significant reduction in housing...

This paper analyses the factors affecting the price level of Hungarian residential real estate using individual sales data. We focus on the role of the location of the property. We show that geographical factors are relevant in explaining housing prices using traditional type groups constructed...

In 1993 Audi opened a new plant in Hungary. This paper examines the long-term effects of this large foreign direct investment on local firms operating in supplier industries. I use firmlevel panel data with long time series. Using the method of triple difference-in-differences I compare outcomes...

I estimate the impact of foreign-owned large plant closures on local firms. I identify 41 such events in Hungary and assign comparable control cities with foreign-owned large plants operating in the same industry and not closing. I use a firm-level panel database of Hungarian firms between 1992...

In recent decades, New World has increased its wine export to European markets and became considerable in the global wine competition. However, the export share of traditional wine producers has decreased; Europe still remained market leader on world wine market. Moreover, the global wine market...

We hypothesize a reciprocal causation between crop insurance use and the economic performance of farms in an environment characterized by imperfect financial markets and farms' budget constraints. To test our hypothesis, we apply a system of simultaneous equations consisting of economic...

In the paper we investigate relative productivity levels and decompose productivity change for European agriculture between 2004 and 2013. More specifically (1) we contribute to the debate whether agricultural Total Factor Productivity (TFP) has declined or not in the European Union (EU); (2) we...

In November 2005, the Hungarian government frontloaded the unemployment benefit path, while kept constant the total benefit amount that could be collected over the unemployment spell. We estimate the effect of this reform on non-employment duration using an interrupted time series design. We...