In developed countries, independent central banks control monetary policy. The goals and instruments of monetary policy are taught in every economics course; however, at times theory fails to work perfectly in practice. In our paper, we review the system of inflation targeting applied by the...

In recent decades, there has been much debate on how a state can establish a pension system that takes into consideration the balance of the general government. In addition to the condition of an equilibrium, social security and the stability of the value of pensions should also be ensured. The...

As countries of the world used large amounts of public funds to manage the 2008 financial crisis, public debt has risen to a critical level in many of them. Due to the drop in real economy, several countries faced unemployment and economic fallback that are still unresolved to this day. After...

At the end of the '80s, Central European countries started to abandon their administratively fixed exchange rates and gradually adopted new monetary regimes with more or less emphasis on the exchange rate, inflation and growth targets. This study analyses the economic background of the choice of...

This paper investigates central bank profitability primarily focusing on its impact on the government budget. It compares the accounting profit of the four euro area countries running the highest debt and three new EU Member States in the period 1999–2013 following the introduction of the...

A szerző az Európai Unió 15 új vagy leendő tagállama által választott monetáris politikai rezsimeket tekinti át az 1990-es évektől napjainkig. Ezeknek az országoknak egyszerre kellett megbirkózniuk a reálgazdasági konvergencia és a dezinfláció sürgető követelményével....