This paper assesses the effect of monetary policy on major components of aggregate demand. We use three different macromodels, all estimated on Hungarian data of the past 10 years. All three models indicated that after an unexpected monetary policy tightening investments decrease quickly. The...

The article provides a review of Hungarian and international demographic trends and examines the macroeconomic impacts of demographic developments in Hungary in comparison with the European Union. Based on available population projections, it is expected that ageing will also characterise...