This paper focuses on how the exposure to the corporate sector may impact the health of the Australian banking system. It also compares Australian banks with their international peers. Finally, it investigates banks'' exposure to credit risk using the new Basel II Pillar 3 disclosure data. The...

Firms use a rich set of incentives including fixed wages, bonuses, threat of firing and promise of promotion. Yet, we do not have a theoretical understanding of how such a mix of incentives can arise. This paper aims to build a theoretical model which describes the incentive mix as the solution...

We uncover a puzzling link between low-frequency inflation and the population age-structure: the young and old (dependents) are inflationary whereas the working age population is disinflationary. The relationship is not spurious and holds for different specifications and controls in data from 22...

Demographic shifts, such as population ageing, have been suggested as possible explanations for the recent decade-long spell of low inflation. We identify age structure effects on inflation from cross-country variation in a panel of 22 countries from 1870 to 2016 that includes standard monetary...

2019. március végén a Budapesti Corvinus Egyetem Szenátusa támogatta Takáts Előd (BIS) címzetes egyetemi tanári kinevezését a Közgazdaságtudományi Karra. Takáts Előd 1999-ben szerezte meg diplomáját pénzügy szakon a Budapesti Corvinus Egyetem jog­elődjén, majd...

Idén az a megtiszteltetés érte a Budapesti Corvinus Egyetemet, hogy az Állami Számvevőszék közel tizennyolc éves töretlen és magas hozzáadott értékű munkáját követően átvehette a lassan hét évtizedes múltra visszatekintő Pénzügyi Szemle közpénzügyi témájú szakmai...

This year, Corvinus University of Budapest had the honour to take over the stewardship over the Public Finance Quarterly, a professional journal on public finance, after almost eighteen years of great work by the State Audit Office of Hungary. We will continue the journal editions in the spirit...

The paper shows how tax rate cuts can increase revenues by improving tax compliance. The intuition is that tax evasion has externalities: tax evaders protect each other, because they tie down limited enforcement capacity. Thus, relatively small tax rate cuts, which decrease incentives to evade...