Using a large and unexpected public wage increase in Hungary which changed the public wage premium in 2002 from -17 to +7.5 percent from one month to the next, I study wage spillovers from the public to the corporate sector. I proxy the exposure of corporate workers to the public sector with the...

This paper explores the determinants of access to finance for small and medium enterprises (SMEs) in the context of three Central European countries: Czech Republic, Slovak Republic, and Hungary. The data set of the research is obtained from the BEEPS survey, which is conducted by the World Bank...

The depreciation of the Hungarian forint in 2009 left Hungarian borrowers with a skyrocketing value of foreign currency debt. The resulting losses worsened debt overhang in to debt-ridden firms and eroded bank capital. Therefore, although Hungarian banks had partially isolated their balance...

In 2012, Ecorys conducted an initial study on corruption in the healthcare sector (SCH1). The purpose of the current study on corruption in the healthcare sector was two-fold: (i) to analyse and report on relevant developments since the publication of SCH1 and (ii) to provide an in-depth...

The aim of this paper is to present new empirical evidence on the characteristics of service trader firms using a novel dataset for Hungary. In the period of slowing growth of goods trade, services, which are more resilient to cycles and are growing steadily since the crisis, might open new...

In this paper we adopt the Hungarian version of the EAGLE (Euro Area GLobal Economy) model. The version of the EAGLE model used in this paper allows for the high import content of export - a typical feature of small open economies such as Hungary. We study the effects of four globally important...

VAT rates have changed multiple times and to a relatively great extent in Hungary during the past years. We use the resulting price changes in estimating the price- and income-elasticity of households’ expenditures. As a novelty, we introduce an interaction term in estimating the demand system...

The purpose of this paper is to illustrate the economic impact mechanism of the secession of Great Britain from the European Union (Brexit) on the Hungarian economy, and to quantify the domestic growth risks. Several international studies have dealt with this topic using partial analysis and...

Using a large and unexpected public wage increase in Hungary which changed the public wage premium in 2002 from -17 to +7.5 percent from one month to the next, I study wage spillovers from the public to the corporate sector. I proxy the exposure of corporate workers to the public sector with the...

This paper aims to estimate a long-term equilibrium price level for the Hungarian housing market by identifying key underlying macroeconomic factors. For this, in line with the empirical literature, a vector error correction model is employed. The housing market price level is mapped by the...

The aim of this paper is to provide a detailed overview of the domestic policy changes affecting privately owned businesses in Hungary during the reign of the 2nd and 3rd Orbán governments. After careful selection and omission of the less important measures, 36 examples are discussed. Their...

The study of fertility intentions has gained importance in the literature during the last decades. Nevertheless, research focussing on their realisation is still scarce due to limited availability of longitudinal data. Although a bulk of existing studies demonstrated regional variation and...

The purpose of this paper is to explain if and how foreign sales are affected by the level of transaction costs within industries in Poland and Hungary. The main hypotheses reflect the potential correlation for different types of industries. The paper attempts to transfer the notion of...

The aim of this paper is to provide a detailed overview of the domestic policy changes affecting privately owned businesses in Hungary during the reign of the 2nd and 3rd Orbán governments. After careful selection and omission of the less important measures, 36 examples are discussed. Their...

The study of fertility intentions has gained importance in the literature during the last decades. Nevertheless, research focussing on their realisation is still scarce due to limited availability of longitudinal data. Although a bulk of existing studies demonstrated regional variation and...

This paper studies the effect of Hungarian pension reforms between 2009-2012 on the adequacy and long-term fiscal stability of the Hungarian public pension system. For the adequacy analysis, we use a micro simulation model to project future initial pension levels relative to future gross wages....

Existing evidence indicates that companies' reported earnings react to tax incentives, but we do not know whether these are accounting responses, evasion responses or real responses. This paper tests for the responses using a quasi-experimental design of a corporate minimum tax scheme introduced...

This study employs the hedonic property price method to analyze the flood risk effect on a rich set of data. The analysis is carried out on Hungary, but as the control variables are extremely elaborated, our results have general importance. The paper finds a significant reduction in housing...

In 1993 Audi opened a new plant in Hungary. This paper examines the long-term effects of this large foreign direct investment on local firms operating in supplier industries. I use firmlevel panel data with long time series. Using the method of triple difference-in-differences I compare outcomes...

Though the Hungarian pension system has been suffering from many erroneous rules, in the present paper we confine our attention to the rules of retirement in Hungary since 1990. In every pension system, there exist two rules which determine how the lifetime contribution (which is approximately...

This paper employs a large-scale, individual-level, panel dataset to analyse the effect of EU accession on the probability of out-migration on the part of Hungarian physicians and dentists between 2003 and 2011. The study uses event history modelling and competing risk models. The results show...

The depreciation of the Hungarian forint in 2009 left Hungarian borrowers with a skyrocketing value of foreign currency debt. The resulting losses worsened debt overhang in to debt-ridden firms and eroded bank capital. Therefore, although Hungarian banks had partially isolated their balance...

The non-banking sector has an important place in financial markets. Therefore, the performance of financial markets can be looked at in different countries by analyzing the evolution of mutual funds, in terms of their inflows and outflows. This is even more important in the recent period, due to...

Ukraine's turbulent recent history has had serious economic and social effects in its westernmost region, Transcarpathia. The East Ukrainian armed conflict, accompanied by a serious economic downturn, resulted in major modifications in individual and family life strategies determined by...

Ukraine's turbulent recent history has had serious economic and social effects in its westernmost region, Transcarpathia. The East Ukrainian armed conflict, accompanied by a serious economic downturn, resulted in major modifications in individual and family life strategies determined by...

Die Dissertation untersucht drei verschiedene geld- bzw. fiskalpolitische Fragestellungen im Rahmen von geschätzten dynamischen stochastischen allgemeinen Gleichgewichtsmodellen (DSGE-Modellen). Zum einen wird mittels eines Markov-Regimewechsel-Modells analysiert, inwiefern sich die Geldpolitik...