In Hungary, average initial old age pensions have risen much faster than average pensions over the past decade. Several factors have contributed to this, of which the method of valorization and official earnings statistics are of particular importance. In most countries, initial pensions are...

In Hungary, initial pensions are indexed to average net wages, reported by official earnings statistics (ES), which does not cover the economy as whole. However, there is alternative statistical source on labour income, the national accounts (NA), intended to cover the total economy. The latter...

The study addresses methodological and conceptual issues related to the measurement, perception and economic interpretation of FDI (foreign direct investment) flows, focusing on reinvested earnings (RE). Using Hungarian data for the period 2008-2014 as an example, we review the effects of two...

We investigate (i) the characteristics of real economic and price convergence, (ii) the relationship between economic growth (convergence) and real exchange rate (RER) misalignments within the European Union (EU) during the period 1995-2016. In addition to the relative external price level of...

The paper studies the labor share among countries of the European Union, with a particular attention to newer member states of Central and Eastern Europe (CEEU). After discussing methodological issues in the computation of the labor share, we present various stylized facts at the country level,...

In this paper we present an overview of a number of issues relating to the equilibrium exchange rates of transition economies of the former soviet bloc. In particular, we present a critical overview of the various methods available for calculating equilibrium exchange rates and discuss how...

In this paper we analyze the relationship between gravity variables and f.o.b. export unit values using Hungarian firm-product-destination data. By taking firm-product level selection into account we show that export unit values increase with distance even for particular firm-product level...

Pre-Accession Transition Countries (PATCs) aim at early admittance to the monetary club. Their fiscal indicators – deficit and debt - do not show any serious symptoms. Closer scrutiny reveals, however, that the interest burden of their public debt might be underestimated, and that...

In this paper we analyse the relationship between gravity variables and f.o.b. export unit values using Hungarian firm-product-destination data. By taking firm-product level selection into account we show that export unit values increase with distance even for particular firm-product...

This paper estimates the relationship between innovation and firm performance by using Community Innovation Survey data for Hungary. It exploits the possibility of linking the innovation data to ownership and disaggregated trade data. Innovative firms are more productive, more likely to trade...