This article reviews the exciting and rapidly expanding literature on realized volatility. After presenting a general univariate framework for estimating realized volatilities, a simple discrete time model is presented in order to motivate the main results. A continuous time specification...

The theoretical school of thought known as ‘varieties of capitalism’ (VoC) grew significantly in popularity following the turn of the millennium. In the 2000s, it formed an excessively simplified typology, which was unable to integrate into its theoretical system the Central European...

Heavily indebted countries – such as Hungary with rapidly accumulating public debt during the 2000s – enjoy significant room for manoeuvre if they can save on their debt rate. On the other hand, the dependence of small, open economies on global economy renders their economic policy...

Labour has been acquiring a decreasing share of aggregate income since the eighties, despite the fact that its productivity has been increasing continuously. The 52.7 per cent average wage share of the Visegrád countries in 2016 is considerably lower than the 63.3 per cent EU average. As for...

The aim of this paper is to understand and provide reasoning for the strategic changes in Hungarian economic policy after 2010. High levels of foreign indebtedness and internal imbalances have necessitated the strategic changes in economic policy in Hungary after 2010. Due to the strategic...

Difficulties in external debt-financing in the period since the financial crisis of 2008 have shed light on the financial vulnerability of the Hungarian economy. In this study our aim is to reveal the causes of external financial vulnerability, which can be incorporated into economic policy...

Member states that have not yet adopted the euro submit convergence programmes to the competent organisations of the EU, the Council and the Commission each year. It is common knowledge that the Council requested that the Hungarian programme submitted in 2005 should be revised for the known...

A „kapitalizmus változatai” (varieties of capitalism – VoC) elméleti irányzat az ezredfordulót követően jelentős népszerűségre tett szert. A kétezres években azonban túlzottan leegyszerűsített tipológiát alkotott, amelyben az észt liberális piacgazdaság és a szlovén...

Az olyan jelentős államadóssággal küzdő országok számára, mint a 2000-es években eladósított Magyarország, komoly mozgásteret jelent, ha az adósság kamatain meg tud takarítani. Azonban a kis, nyitott gazdasági státuszból következő világgazdasági függőség az...