This paper examines the easing cycle initiated by the Magyar Nemzeti Bank in August 2012 and its macroeconomic and financial market impacts. It first presents the operation of the transmission mechanism under normal economic conditions and then addresses the main challenges of the post-crisis...

According to data sources, approximately 300 000 to 400 000 Hungarian-born citizens lived outside Hungary in 2013. Although more up-to-date data are not available, we know that the pace of emigration peaked in 2013, meaning this figure encapsulates the largest wave of migration. The main...

Does a drastic cut in in potential benefit duration affect the take-up of unemployment insurance benefits among those eligible? We evaluate a policy change reducing the maximum length of UI benefits from 9 to 3 months in Hungary at the end of 2011. We rely on rich longitudinal matched...