Details about Zsolt Darvas

Homepage:	https://www.darvas.online/
Postal address:	Institute of Economics Corvinus University Budapest Fővám tér 8. Budapest 1093 Hungary
Workplace:	Matematika Tanszék (Department of Mathematics), Adatelemzés és Informatika Intézet (Institute of Data Analytics and Information Systems), Budapesti Corvinus Egyetem (Corvinus University of Budapest), (more information at EDIRC) Közgazdaság-tudományi Intézet (Institute of Economics), Közgazdaság- és Regionális Tudományi Kutatóközpont (Centre for Economic and Regional Studies), (more information at EDIRC) Bruegel, (more information at EDIRC)

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Last updated 2025-04-01. Update your information in the RePEc Author Service.

Short-id: pda162

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Working Papers

2025

1. The European Union’s new fiscal framework- a good start, but challenges loom
   Bruegel Policy Brief, Bruegel

2024

2. How demographic change will hit debt sustainability in European Union countries
   Bruegel Policy Brief, Bruegel
3. Incorporating the impact of social investments and reforms in the European Union’s new fiscal framework
   Bruegel Working Papers, Bruegel
4. The implications of the European Union’s new fiscal rules
   Bruegel Policy Brief, Bruegel View citations (1)
5. Ukraine’s path to European Union membership and its long-term implications
   Bruegel Policy Brief, Bruegel

2023

6. A quantitative evaluation of the European Commission’s fiscal governance proposal
   Bruegel Working Papers, Bruegel View citations (2)
7. The longer-term fiscal challenges facing the European Union
   Bruegel Policy Brief, Bruegel

2022

8. Legal options for a green golden rule in the European Union’s fiscal framework
   Bruegel Policy Brief, Bruegel View citations (1)
9. Technology, trade, work councils and income distribution- new insights from MICROPROD
   Bruegel Working Papers, Bruegel
10. The impact of the Ukraine crisis on international trade
    Bruegel Working Papers, Bruegel View citations (8)

2021

11. A green fiscal pact- climate investment in times of budget consolidation
    Bruegel Policy Contributions, Bruegel View citations (22)
12. Cohesion project characteristics and regional economic growth in the European Union
    Corvinus Economics Working Papers (CEWP), Corvinus University of Budapest View citations (2)
13. European Union cohesion project characteristics and regional economic growth
    Bruegel Working Papers, Bruegel View citations (2)
14. The Great COVID-19 Divergence: Managing a Sustainable and Equitable Recovery in the EU
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
    See also Journal Article The Great COVID-19 Divergence: Managing a Sustainable and Equitable Recovery in the EU, Intereconomics: Review of European Economic Policy, Springer (2021) View citations (3) (2021)
15. The great COVID-19 divergence- managing a sustainable and equitable recovery in the European Union
    Bruegel Policy Contributions, Bruegel View citations (5)
    Also in Bruegel Policy Brief, Bruegel (2021)
16. The nonsense of Next Generation EU net balance calculations
    Bruegel Policy Contributions, Bruegel View citations (3)
17. The unequal inequality impact of the COVID-19 pandemic
    Bruegel Working Papers, Bruegel View citations (6)
18. Timely measurement of real effective exchange rates
    Bruegel Working Papers, Bruegel View citations (29)

2020

19. Economic growth and income distribution implications of public spending and tax decisions
    Corvinus Economics Working Papers (CEWP), Corvinus University of Budapest View citations (1)
    Also in Bruegel Working Papers, Bruegel (2020) View citations (1)
    See also Journal Article Economic growth and income distribution implications of public spending and tax decisions, Society and Economy, Akadémiai Kiadó, Hungary (2020) View citations (1) (2020)
20. Forecasting exchange rates of major currencies with long maturity forward rates
    Bruegel Working Papers, Bruegel View citations (2)
    Also in EcoMod2008, EcoMod (2008)
    Corvinus Economics Working Papers (CEWP), Corvinus University of Budapest (2020) View citations (2)
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2007) View citations (3)
21. From climate change to cyber attacks- Incipient financial-stability risks for the euro area
    Bruegel Policy Contributions, Bruegel
22. New life for an old framework: redesigning the European Union's expenditure and golden fiscal rules
    Corvinus Economics Working Papers (CEWP), Corvinus University of Budapest View citations (6)
23. Resisting deglobalisation- the case of Europe
    Bruegel Working Papers, Bruegel View citations (3)

2019

24. A new look at net balances in the European Union's next multiannual budget
    Bruegel Working Papers, Bruegel
25. How to improve European Union cohesion policy for the next decade
    Bruegel Policy Contributions, Bruegel View citations (11)
26. With or without you- are central European countries ready for the euro?
    Bruegel Policy Contributions, Bruegel View citations (2)

2018

27. European fiscal rules require a major overhaul
    Bruegel Policy Contributions, Bruegel View citations (37)
28. Excess liquidity and bank lending risks in the euro area
    Bruegel Policy Contributions, Bruegel View citations (7)
29. Forecast errors and monetary policy normalisation in the euro area
    Bruegel Policy Contributions, Bruegel View citations (6)
30. Rethinking the European Union’s post-Brexit budget priorities
    Bruegel Policy Brief, Bruegel View citations (2)
31. Réformer les règles budgétaires européennes: simplification, stabilisation et soutenabilité
    SciencePo Working papers Main, HAL
    Also in Working Papers, HAL (2018)
32. The macroeconomic implications of healthcare
    Bruegel Policy Contributions, Bruegel View citations (1)

2017

33. Divorce settlement or leaving the club? A breakdown of the Brexit bill
    Bruegel Working Papers, Bruegel View citations (2)
34. Institutional investors and home bias in Europe’s Capital Markets Union
    Bruegel Working Papers, Bruegel View citations (8)
35. Regional and global financial safety nets- the recent European experience and its implications for regional cooperation in Asia
    Bruegel Working Papers, Bruegel
36. Returns on foreign assets and liabilities- exorbitant privileges and stabilising adjustments
    Bruegel Working Papers, Bruegel View citations (10)
37. Why is it so hard to reach the EU’s ‘poverty’ target?
    Bruegel Policy Contributions, Bruegel View citations (6)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2017) View citations (6)
    See also Journal Article Why is it So Hard to Reach the EU’s Poverty Target?, Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer (2019) View citations (5) (2019)

2016

38. A proposal to revive the European Fiscal Framework
    Bruegel Policy Contributions, Bruegel View citations (38)
39. An anatomy of inclusive growth in Europe
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
    See also Book An anatomy of inclusive growth in Europe, Bruegel Blueprints, Bruegel (2016) View citations (7) (2016)
40. Reform of the European Union financial supervisory and regulatory architecture and its implications for Asia
    Bruegel Working Papers, Bruegel View citations (1)
41. Reforms to the European Union Financial Supervisory and Regulatory Architecture and Their Implications for Asia
    ADBI Working Papers, Asian Development Bank Institute
42. Some are more equal than others- new estimates of global and regional inequality
    Bruegel Working Papers, Bruegel View citations (18)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2016) View citations (17)

2015

43. Filling the Gap-- Open Economy Considerations for More Reliable Potential Output Estimates
    EcoMod2015, EcoMod View citations (19)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2015) View citations (23)
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2015) View citations (25)
    Bruegel Working Papers, Bruegel (2015) View citations (25)
44. Poor and under pressure- the social impact of Europe's fiscal consolidation
    Bruegel Policy Contributions, Bruegel View citations (5)
45. The effects of ultra-loose monetary policies on inequality
    Bruegel Policy Contributions, Bruegel View citations (10)
46. The financial stability risks of ultra-loose monetary policy
    Bruegel Policy Contributions, Bruegel View citations (12)
47. The grand divergence- global and European current account surpluses
    Bruegel Working Papers, Bruegel View citations (5)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2015) View citations (5)
48. The limitations of policy coordination in the euro area under the European Semester
    Bruegel Policy Contributions, Bruegel View citations (23)

2014

49. Addressing weak inflation- The European Central Bank's shopping list
    Bruegel Policy Contributions, Bruegel View citations (10)
50. Benefits and drawbacks of European Unemployment Insurance
    Bruegel Policy Brief, Bruegel View citations (23)
51. Can Europe recover without credit?
    Corvinus Economics Working Papers (CEWP), Corvinus University of Budapest View citations (5)
    Also in Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2013) View citations (9)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2013) View citations (9)
    Bruegel Policy Contributions, Bruegel (2013) View citations (9)
    See also Journal Article Can Europe recover without credit?, Society and Economy, Akadémiai Kiadó, Hungary (2014) View citations (4) (2014)
52. Does Money Matter in the Euro area? Evidence from a new Divisia Index
    Bruegel Working Papers, Bruegel View citations (2)
    Also in Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2014) View citations (2)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2014) View citations (2)
    See also Journal Article Does money matter in the euro area? Evidence from a new Divisia index, Economics Letters, Elsevier (2015) View citations (25) (2015)
53. Europe's social problem and its implications for economic growth
    Bruegel Policy Brief, Bruegel View citations (3)
54. In sickness and in health- protecting and supporting public investment in Europe
    Bruegel Policy Contributions, Bruegel View citations (30)
55. So far apart and yet so close- Should the ECB care about inflation differentials?
    Bruegel Policy Contributions, Bruegel View citations (4)
56. The long haul- debt sustainability analysis
    Bruegel Working Papers, Bruegel View citations (3)
57. The long haul- managing exit from financial assistance
    Bruegel Policy Contributions, Bruegel View citations (4)

2013

58. Banking system soundness is the key to more SME financing
    Bruegel Policy Contributions, Bruegel View citations (11)
59. Does the European Semester deliver the right policy advice?
    Bruegel Policy Contributions, Bruegel View citations (2)
60. Europe's growth problem (and what to do about it)
    Bruegel Policy Brief, Bruegel View citations (11)
61. Inflation Persistence in Central and Eastern European Countries
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (2)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2013) View citations (2)
    Bruegel Working Papers, Bruegel (2013) View citations (2)
    See also Journal Article Inflation persistence in central and eastern European countries, Applied Economics, Taylor & Francis Journals (2014) View citations (14) (2014)
62. Should Non-Euro Area Countries Join the Single Supervisory Mechanism?
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (23)
    Also in Bruegel Policy Contributions, Bruegel (2013) View citations (20)
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2013) View citations (17)
    See also Journal Article Should Non-Euro Area Countries Join the Single Supervisory Mechanism?, DANUBE: Law and Economics Review, European Association Comenius - EACO (2013) View citations (20) (2013)
63. The Euro Area's Tightrope Walk: Debt and Competitiveness in Italy and Spain
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest
    Also in Bruegel Policy Contributions, Bruegel (2013)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2013) View citations (1)
64. The European Central Bank in the age of banking union
    Bruegel Policy Contributions, Bruegel View citations (14)

2012

65. A Tale of Three Countries: Recovery after Banking Crises
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (14)
    Also in Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2011) View citations (14)
    Bruegel Policy Contributions, Bruegel (2011) View citations (10)
66. Compositional effects on productivity, labour cost and export adjustments
    Bruegel Policy Contributions, Bruegel View citations (35)
67. Intra-euro rebalancing is inevitable but insufficient
    Bruegel Policy Contributions, Bruegel View citations (20)
68. Monetary Transmission in three Central European Economies: Evidence from Time-Varying Coefficient Vector Autoregressions
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (5)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2009) View citations (15)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2012) View citations (2)
    Bruegel Working Papers, Bruegel (2012) View citations (2)
    See also Journal Article Monetary transmission in three central European economies: evidence from time-varying coefficient vector autoregressions, Empirica, Springer (2013) View citations (13) (2013)
69. Productivity, labour cost and export adjustment- Detailed results for 24 EU countries
    Bruegel Working Papers, Bruegel View citations (7)
70. Real Effective Exchange Rates for 178 Countries: a New Database
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (230)
    Also in Bruegel Working Papers, Bruegel (2012) View citations (242)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2012) View citations (235)
71. The Greek debt trap- an escape plan
    Bruegel Policy Contributions, Bruegel View citations (4)
72. The euro crisis- ten roots, but fewer solutions
    Bruegel Policy Contributions, Bruegel View citations (10)
73. Uncovering Time-Varying Parameters with the Kalman-Filter and the Flexible Least Squares: a Monte Carlo Study
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (10)

2011

74. A Comprehensive Approach to the Euro-Area Debt Crisis
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (28)
    Also in Bruegel Policy Brief, Bruegel (2011) View citations (29)
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2011) View citations (36)
75. A comprehensive approach to the euro-area crisis- Background calculations
    Bruegel Working Papers, Bruegel View citations (7)
76. Beyond the Crisis: Prospects for Emerging Europe
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (11)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2011) View citations (12)
    Bruegel Working Papers, Bruegel (2011) View citations (12)
    See also Journal Article Beyond the Crisis: Prospects for Emerging Europe, Comparative Economic Studies, Palgrave Macmillan (2011) View citations (11) (2011)
77. Debt Restructuring in the Euro Area: a Necessary but Manageable Evil?
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (4)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2011) View citations (4)
    Bruegel Policy Contributions, Bruegel (2011) View citations (4)
78. Europe's Growth Emergency
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (1)
    Also in Bruegel Policy Contributions, Bruegel (2011) View citations (5)
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2011)
79. Exchange Rate Policy and Economic Growth after the Financial Crisis in Central and Eastern Europe
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (6)
80. Fiscal and Monetary Institutions in Central, Eastern and South-Eastern European Countries
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (3)
    Also in Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2011) View citations (3)
    See also Journal Article Fiscal and Monetary Institutions in Central, Eastern and South-Eastern European Countries, OECD Journal on Budgeting, OECD Publishing (2011) View citations (3) (2011)
81. Global currencies for tomorrow: A European perspective
    European Economy - Economic Papers 2008 - 2015, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission View citations (29)
    See also Book Global currencies for tomorrow- a European perspective, Bruegel Blueprints, Bruegel (2011) View citations (36) (2011)
82. The fiscal and monetary institutions of CESEE countries
    Bruegel Working Papers, Bruegel View citations (8)
83. The threat of 'currency wars': A European perspective
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies
    Also in Bruegel Policy Contributions, Bruegel (2010) View citations (6)
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2010) View citations (10)

2010

84. Beyond the Crisis: Prospects for Transition Economies
    EcoMod2010, EcoMod
85. Financial Transaction Tax: Small is Beautiful
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (4)
    Also in Bruegel Policy Contributions, Bruegel (2010) View citations (4)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2010) View citations (3)
    See also Journal Article Financial transaction tax: Small is beautiful, Society and Economy, Akadémiai Kiadó, Hungary (2011) View citations (5) (2011)
86. Fiscal Federalism in Crisis: Lessons for Europe from the US
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (13)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2010) View citations (11)
    Bruegel Policy Contributions, Bruegel (2010) View citations (13)
87. The Case for Reforming Euro Area Entry Criteria
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (12)
    Also in Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2010) View citations (16)
    See also Journal Article The case for reforming euro area entry criteria, Society and Economy, Akadémiai Kiadó, Hungary (2010) View citations (13) (2010)
88. Time-Varying Coefficient Methods to Measure Inflation Persistence
    EcoMod2010, EcoMod

2009

89. Cyclical Dimensions of Labour Mobility after EU Enlargement
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (4)
    Also in Bruegel Working Papers, Bruegel (2009) View citations (4)
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2009) View citations (4)
90. The Baltic Challenge and Euro-Area Entry
    Bruegel Policy Contributions, Bruegel View citations (5)
91. The EU's Role in Supporting Crisis-Hit Countries in Central and Eastern Europe
    Bruegel Policy Contributions, Bruegel View citations (7)
92. The Impact of the Crisis on Budget Policy in Central and Eastern Europe
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (9)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2009) View citations (9)
    Bruegel Working Papers, Bruegel (2009) View citations (9)
    See also Journal Article The Impact of the Crisis on Budget Policy in Central and Eastern Europe, OECD Journal on Budgeting, OECD Publishing (2010) View citations (20) (2010)

2008

93. Avoiding a new European divide
    Bruegel Policy Brief, Bruegel View citations (5)
94. Euro Area Enlargement and Euro Adoption Strategies
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (34)
    Also in European Economy - Economic Papers 2008 - 2015, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission (2008) View citations (42)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2008) View citations (43)
95. Leveraged Carry Trade Portfolios
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (2)
    Also in Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2008) View citations (2)
    See also Journal Article Leveraged carry trade portfolios, Journal of Banking & Finance, Elsevier (2009) View citations (50) (2009)

2007

96. Estimation Bias and Inference in Overlapping Autoregressions: Implications for the Target Zone Literature
    Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (1)
    See also Journal Article Estimation Bias and Inference in Overlapping Autoregressions: Implications for the Target‐Zone Literature*, Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford (2008) View citations (12) (2008)
97. Inflation persistence in the euro-area, US, and new members of the EU: Evidence from time-varying coefficient models
    Money Macro and Finance (MMF) Research Group Conference 2006, Money Macro and Finance Research Group View citations (1)
98. Kelet-közép európai devizaárfolyamok előrejelzése határidős árfolyamok segítségével
    UPFBE Working Paper Series, Faculty of Business and Economics, University Pécs View citations (2)
    See also Journal Article Kelet-közép-európai devizaárfolyamok előrejelzése határidős árfolyamok segítségével, Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation) (2007) View citations (2) (2007)
99. Uncovering Yield Parity: A New Insight into the UIP Puzzle through the Stationarity of Long Maturity Forward Rates
    Money Macro and Finance (MMF) Research Group Conference 2006, Money Macro and Finance Research Group

2006

100. Business Cycle Synchronization in the Enlarged EU
     Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (51)
     Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (11)
     See also Journal Article Business Cycle Synchronization in the Enlarged EU, Open Economies Review, Springer (2008) View citations (109) (2008)
101. Long maturity forward rates of major currencies are stationary
     Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (4)
     See also Journal Article Long maturity forward rates of major currencies are stationary, Applied Economics Letters, Taylor & Francis Journals (2009) View citations (4) (2009)

2005

102. A New Method for Combining Detrending Techniques with Application to Business Cycle Synchronization of the New EU Members
     Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest View citations (3)
     Also in MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) (2005) View citations (5)
103. Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (123)
     Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (110)
     MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) (2005) View citations (113)
     Working Papers, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest (2005) View citations (110)
     See also Chapter Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic, NBER Chapters, National Bureau of Economic Research, Inc (2005) View citations (91) (2005)
104. Univariate Potential Output Estimations for Hungary
     Macroeconomics, University Library of Munich, Germany View citations (3)
     Also in MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) (2003) View citations (5)

2004

105. Business Cycle Synchronisation in the Enlarged EU: Comovements in the New and Old Members
     MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) View citations (35)

2003

106. Analysis of large real exchange rate appreciation episodes
     MNB Background Studies (discontinued), Magyar Nemzeti Bank (Central Bank of Hungary) View citations (2)

2001

107. Exchange rate pass-through and real exchange rate in EU candidate countries
     Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank View citations (98)

2000

108. Potential Output and Foreign Trade in Small Open Economies
     MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) View citations (6)

1999

109. Capital Stock and Economic Development in Hungary
     MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) View citations (2)
     See also Journal Article Capital Stock and Economic Development in Hungary, The Economics of Transition, The European Bank for Reconstruction and Development (2000) View citations (12) (2000)
110. Financial Contagion under Different Exchange Rate Regimes
     MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) View citations (7)

1998

111. Spurious Correlation in Exchange Rate Target Zone Modelling: Testing the Drift Adjustment Method on the US Dollar, Random Walk and Chaos
     CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)

1996

112. Exchange Rate Premia and the Credibility of the Crawling Target Zone in Hungary
     CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)

Journal Articles

2025

1. Forecasting the daily exchange rate of the UK pound sterling against the US dollar
   Finance Research Letters, 2025, 71, (C)

2024

2. Exchange rates and fundamentals: Forecasting with long maturity forward rates
   Journal of International Money and Finance, 2024, 143, (C)

2023

3. A Green Fiscal Pact for the EU: increasing climate investments while consolidating budgets
   Climate Policy, 2023, 23, (4), 409-417 View citations (3)
4. Euro area monetary asset demand and Divisia aggregates**
   The European Journal of Finance, 2023, 29, (16), 1885-1912

2022

5. Discretion lets Croatia in the euro area in 2023, but leaves Bulgaria out
   SEER Journal for Labour and Social Affairs in Eastern Europe, 2022, 25, (2), 183-194

2021

6. The Great COVID-19 Divergence: Managing a Sustainable and Equitable Recovery in the EU
   Intereconomics: Review of European Economic Policy, 2021, 56, (4), 211-219 View citations (3)
   See also Working Paper The Great COVID-19 Divergence: Managing a Sustainable and Equitable Recovery in the EU, ULB Institutional Repository (2021) (2021)

2020

7. Economic growth and income distribution implications of public spending and tax decisions
   Society and Economy, 2020, 42, (4), 351-365 View citations (1)
   See also Working Paper Economic growth and income distribution implications of public spending and tax decisions, Corvinus Economics Working Papers (CEWP) (2020) View citations (1) (2020)
8. Introduction to the special section on the public finance – growth nexus
   Society and Economy, 2020, 42, (4), 348-350

2019

9. Global interpersonal income inequality decline: The role of China and India
   World Development, 2019, 121, (C), 16-32 View citations (16)
10. Reconciling contradictory forces: financial inclusion of refugees and know-your-customer regulations
    Journal of Banking Regulation, 2019, 20, (3), 260-273 View citations (1)
11. Simple Rules for Better Fiscal Policies in Europe
    ifo DICE Report, 2019, 17, (02), 12-16 View citations (7)
12. Why is it So Hard to Reach the EU’s Poverty Target?
    Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2019, 141, (3), 1081-1105 View citations (5)
    See also Working Paper Why is it so hard to reach the EU’s ‘poverty’ target?, Bruegel Policy Contributions (2017) View citations (6) (2017)

2018

13. The EU’s Multiannual Financial Framework and some implications for CESEE countries
    Focus on European Economic Integration, 2018, (Q3-18), 77-86

2015

14. Does money matter in the euro area? Evidence from a new Divisia index
    Economics Letters, 2015, 133, (C), 123-126 View citations (25)
    See also Working Paper Does Money Matter in the Euro area? Evidence from a new Divisia Index, Bruegel Working Papers (2014) View citations (2) (2014)

2014

15. Can Europe recover without credit?
    Society and Economy, 2014, 36, (2), 129-149 View citations (4)
    See also Working Paper Can Europe recover without credit?, Corvinus Economics Working Papers (CEWP) (2014) View citations (5) (2014)
16. Inflation persistence in central and eastern European countries
    Applied Economics, 2014, 46, (13), 1437-1448 View citations (14)
    See also Working Paper Inflation Persistence in Central and Eastern European Countries, Working Papers (2013) View citations (2) (2013)

2013

17. Monetary transmission in three central European economies: evidence from time-varying coefficient vector autoregressions
    Empirica, 2013, 40, (2), 363-390 View citations (13)
    See also Working Paper Monetary Transmission in three Central European Economies: Evidence from Time-Varying Coefficient Vector Autoregressions, Working Papers (2012) View citations (5) (2012)
18. Should Non-Euro Area Countries Join the Single Supervisory Mechanism?
    DANUBE: Law and Economics Review, 2013, (2), 141-163 View citations (20)
    See also Working Paper Should Non-Euro Area Countries Join the Single Supervisory Mechanism?, CERS-IE WORKING PAPERS (2013) View citations (23) (2013)

2012

19. The ECB’s magic wand
    Intereconomics: Review of European Economic Policy, 2012, 47, (5), 266-267 View citations (1)

2011

20. Beyond the Crisis: Prospects for Emerging Europe
    Comparative Economic Studies, 2011, 53, (2), 261-290 View citations (11)
    See also Working Paper Beyond the Crisis: Prospects for Emerging Europe, Working Papers (2011) View citations (11) (2011)
21. Financial transaction tax: Small is beautiful
    Society and Economy, 2011, 33, (3), 449-473 View citations (5)
    See also Working Paper Financial Transaction Tax: Small is Beautiful, Working Papers (2010) View citations (4) (2010)
22. Fiscal and Monetary Institutions in Central, Eastern and South-Eastern European Countries
    OECD Journal on Budgeting, 2011, 11, (1), 147-185 View citations (3)
    See also Working Paper Fiscal and Monetary Institutions in Central, Eastern and South-Eastern European Countries, CERS-IE WORKING PAPERS (2011) View citations (3) (2011)
23. The Ten Roots of the Euro Crisis
    CESifo Forum, 2011, 12, (04), 03-04 View citations (2)

2010

24. The Impact of the Crisis on Budget Policy in Central and Eastern Europe
    OECD Journal on Budgeting, 2010, 10, (1), 1-42 View citations (20)
    See also Working Paper The Impact of the Crisis on Budget Policy in Central and Eastern Europe, Working Papers (2009) View citations (9) (2009)
25. The case for reforming euro area entry criteria
    Society and Economy, 2010, 32, (2), 195-219 View citations (13)
    See also Working Paper The Case for Reforming Euro Area Entry Criteria, CERS-IE WORKING PAPERS (2010) View citations (12) (2010)

2009

26. Leveraged carry trade portfolios
    Journal of Banking & Finance, 2009, 33, (5), 944-957 View citations (50)
    See also Working Paper Leveraged Carry Trade Portfolios, CERS-IE WORKING PAPERS (2008) View citations (2) (2008)
27. Long maturity forward rates of major currencies are stationary
    Applied Economics Letters, 2009, 16, (11), 1175-1181 View citations (4)
    See also Working Paper Long maturity forward rates of major currencies are stationary, Working Papers (2006) View citations (4) (2006)

2008

28. Az euróövezet bővítése és euróbevezetési stratégiák
    (Euro-area enlargement and euro adoption strategies)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 2008, LV, (10), 833-873 View citations (1)
29. Business Cycle Synchronization in the Enlarged EU
    Open Economies Review, 2008, 19, (1), 1-19 View citations (109)
    See also Working Paper Business Cycle Synchronization in the Enlarged EU, Working Papers (2006) View citations (51) (2006)
30. Estimation Bias and Inference in Overlapping Autoregressions: Implications for the Target‐Zone Literature*
    Oxford Bulletin of Economics and Statistics, 2008, 70, (1), 1-22 View citations (12)
    See also Working Paper Estimation Bias and Inference in Overlapping Autoregressions: Implications for the Target Zone Literature, Working Papers (2007) View citations (1) (2007)

2007

31. Kelet-közép-európai devizaárfolyamok előrejelzése határidős árfolyamok segítségével
    (Forecasting the exchange rates of three Central-Eastern European currencies with forward exchange rates)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 2007, LIV, (6), 501-528 View citations (2)
    See also Working Paper Kelet-közép európai devizaárfolyamok előrejelzése határidős árfolyamok segítségével, UPFBE Working Paper Series (2007) View citations (2) (2007)

2006

32. Monetary Transmission in the New EU Member States: Evidence from Time-Varying Coefficient Vector Autoregression
    Focus on European Economic Integration, 2006, (1), 140-155 View citations (11)

2005

33. A fiskális divergencia és a konjunktúraciklusok együttmozgása - a felelőtlen fiskális politika az aszimmetrikus sokkok forrása
    (Fiscal divergence and business cycle synchronization: irresponsibility is idiosyncratic)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 2005, LII, (12), 937-959
34. Fiscal Divergence and Business Cycle Synchronization: Irresponsibility Is Idiosyncratic [with Comments]
    NBER International Seminar on Macroeconomics, 2005, 2005, (1), 261 - 313 View citations (7)

2004

35. Konjunktúraciklusok együttmozgása a régi és új EU-tagországokban
    (Business cycle harmonization in new and old EU member-states)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 2004, LI, (5), 415-448 View citations (2)

2002

36. A financiálisan fenntartható kibocsátás becslése a gazdaság nyitottságának felhasználásával
    (Estimating sustainable output from the openness of the economy)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 2002, XLIX, (5), 361-376 View citations (1)

2000

37. Capital Stock and Economic Development in Hungary
    The Economics of Transition, 2000, 8, (1), 197-223 View citations (12)
    See also Working Paper Capital Stock and Economic Development in Hungary, MNB Working Papers (1999) View citations (2) (1999)
38. Financial Contagion in Five Small Open Economies: Does the Exchange Rate Regime Really Matter?
    International Finance, 2000, 3, (1), 25-51 View citations (27)

1999

39. A nemzetközi pénzügyi válságok tovaterjedése különböző árfolyamrendszerekben
    (The spread of international financial crises under various exchange-rate systems)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 1999, XLVI, (11), 945-968 View citations (2)
40. Az árfolyamsávok empirikus modelljei és a devizaárfolyam sávon belüli előrejelezhetetlensége
    (Empirical models of exchange rate target zones)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 1999, XLVI, (6), 507-529 View citations (1)
41. Tőkeállomány, megtakarítás és gazdasági növekedés
    (Capital stock, savings and economic growth)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 1999, XLVI, (9), 749-771 View citations (7)

1996

42. Kamatkülönbség és árfolyam-várakozások az előre bejelentett kúszó árfolyamrendszerben
    (Interest differential and exchange rate expectations in the preannounced crawling band system of Hungary)
    Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), 1996, XLIII, (10), 920-947 View citations (5)

Books

2018

1. People on the move- migration and mobility in the European Union
   Bruegel Blueprints, Bruegel View citations (11)

2016

2. An anatomy of inclusive growth in Europe
   Bruegel Blueprints, Bruegel View citations (7)
   See also Working Paper An anatomy of inclusive growth in Europe, ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2016) (2016)

2014

3. EU to DO 2015-2019
   Bruegel Book, Bruegel View citations (2)
4. Japan and the EU in the global economy
   Bruegel Blueprints, Bruegel

2013

5. EU-Korea Economic Exchange
   Bruegel Book, Bruegel View citations (1)

2011

6. Global currencies for tomorrow- a European perspective
   Bruegel Blueprints, Bruegel View citations (36)
   See also Working Paper Global currencies for tomorrow: A European perspective, European Economy - Economic Papers 2008 - 2015, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission (2011) View citations (29) (2011)

2010

7. Whither growth in central and eastern Europe? Policy lessons for an integrated Europe
   Bruegel Blueprints, Bruegel View citations (62)

2009

8. Memos to the new Commission- Europe's economic priorities 2010-2015
   Bruegel Book, Bruegel View citations (1)

Chapters

2018

1. Is technological progress behind growing income inequality?
   Chapter 11 in Global Economic Modeling A Volume in Honor of Lawrence R. Klein, 2018, pp 256-276

2016

2. EU economic governance: euro area periphery lessons for Central and Eastern European countries
   Chapter 7 in Boosting European Competitiveness, 2016, pp 75-85

2010

3. Facts and Lessons from Euro Area Divergences for Enlargement
   Chapter 12 in The Euro and Economic Stability, 2010 View citations (2)

2005

4. Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic
   A chapter in NBER International Seminar on Macroeconomics 2005, 2005, pp 261-298 View citations (91)
   See also Working Paper Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic, National Bureau of Economic Research, Inc (2005) View citations (123) (2005)