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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...
Persistent link: https://www.econbiz.de/10012995900
regime which aimed to stabilise the economy, Hungary's policy was more relaxed whilst Poland had an aggressive reform … programme. Regarding monetary policy the Czech Republic used the discount rate as a tool for monetary policy, Hungary used … year. Hungary had a similar experience whilst Poland had an initial high increase in economic growth. This reduced over …
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The paper estimates the immediate impact of Hungarian monetary policy on three classes of asset prices: the exchange rate of the forint vis-r-vis the euro, spot and forward government bond yields and the index of the Budapest Stock Exchange. The endogeneity problem is treated with the method of...
Persistent link: https://www.econbiz.de/10003284724
In this paper we investigate the possible effects of fiscal tightening in Hungary from two perspectives. First … their relevance for Hungary in a qualitative way. In our review of non-Keynesian channels of fiscal adjustments we conclude …
Persistent link: https://www.econbiz.de/10003347824
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