It is well known that the size of the informal (black or grey) economy causes serious fiscal problems for Hungary. This study makes an attempt to quantify the budgetary and macroeconomic effects of different ways of widening the formal sector (whiteningʺ) with the help of a model. It turns out...

It is well known that the size of the informal (black or grey) economy causes serious fiscal problems for Hungary. This study makes an attempt to quantify the budgetary and macroeconomic effects of different ways of widening the formal sector (whitening”) with the help of a model. It turns out...

The study aims to revisit some of the macroeconomic issues related to Hungary's eurozone-accession. The government postponed euro-adoption until 2020 without any explanation, which is one of the motivations of our analysis. We review the arguments formulated in 2000-2004 regarding the adoption...

In the report we analyse the reasons for the weakness of Finland’s economic performance over the past decade and assess the growth prospects in the coming 5 years. The weakness of Finland’s performance relative to comparative EU-countries since 2009 can largely be explained by the collapse...