MNB Working Papers

From Magyar Nemzeti Bank (Central Bank of Hungary)
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2015/1: Explaining Bond and Equity Premium Puzzles Jointly in a DSGE Model

Lorant Kaszab and Aleš Maršál

2014/3: Carry Trade, Uncovered Interest Parity and Monetary Policy

Daniel Felcser and Balázs Vonnák

2014/2: Early warning indicators: financial and macroeconomic imbalances in Central and Eastern European countries

Orsolya Csortos and Zoltán Szalai

2014/1: Corporate Foreign Currency Borrowing and Investment. The Case of Hungary

Marianna Endresz and Péter Harasztosi

2013/3: Global, Regional and Country-Specific Components of Financial Market Indicators: An Extraction Method and Applications

Zalan Kocsis

2013/2: Sticky Price Inflation Index: An Alternative Core Inflation Measure

Adam Reiff and Judit Várhegyi

2013/1: The Hungarian Monetary Policy Model

Katalin Szilágyi, Dániel Baksa, Jaromir Benes, Ágnes Horváth, Csaba Köber and Gábor D. Soós

2012/8: Currency mismatch and the sub-prime crisis: firm-level stylised facts from Hungary

Marianna Endresz, Gyozo Gyongyosi and Péter Harasztosi

2012/7: Assessing changes of the Hungarian tax and transfer system: A general-equilibrium microsimulation approach

Peter Benczur, Gábor Kátay and Áron Kiss

2012/6: Which Aspects of Central Bank Transparency Matter? Constructing a Weighted Transparency Index

Csaba Csávás, Szilárd Erhart, Daniel Felcser and Anna Naszodi

2012/5: The role of external and country specific factors in Hungarian inflation developments

Balázs Krusper

2012/4: Need for Speed: Is Faster Trade in the EU Trade-creating?

Cecília Hornok

2012/3: Is there a carry trade channel of monetary policy in emerging countries?

Kornél Kisgergely

2012/2: Voting by monetary policy committees: evidence from the CEE inflation-targeting countries

Alexander Jung and Gergely Kiss

2012/1: The Sectoral Effects of Monetary Policy in Hungary: A Structural Factor Analysis

Gábor Pellényi

2011/12: Growth in Hungary 1994-2008: The role of capital, labour, productivity and reallocation

Péter Harasztosi

2011/11: The elasticity of taxable income of high earners: Evidence from Hungary

Áron Kiss and Palma Filep-Mosberger

2011/10: What drives cash demand? Transactional and residual cash demand in selected countries

Balázs Sisak

2011/9: Downward wage rigidity in Hungary

Gábor Kátay

2011/8: Asset prices and financial imbalances in CEE countries: macroeconomic risks and monetary strategy

Zoltán Szalai

2011/7: Identification of credit supply shocks in a Bayesian SVAR model of the Hungarian economy

Bálint Tamási and Balázs Világi

2011/6: Convergence and Distortions: the Czech Republic, Hungary and Poland between 1996–2009

István Kónya

2011/5: Fiscal Calculus in a New Keynesian Model with Labor Market Frictions

Alessia Campolmi, Ester Faia and Roland Winkler

2011/4: Labor Market Participation, Unemployment and Monetary Policy

Alessia Campolmi and Stefano Gnocchi

2011/3: Beating the Random Walk in Central and Eastern Europe by Survey Forecasts

Anna Naszodi

2011/2: Testing the asset pricing model of exchange rates with survey data

Anna Naszodi

2011/1: Business fixed investment and credit market frictions. A VECM approach for Hungary

Marianna Endresz

2010/12: Household inflation expectations and inflation dynamics

Péter Gábriel

2010/11: A Structural Vector Autoregressive (SVAR) model for the Hungarian labour market

Zoltán Jakab and Éva Kaponya

2010/10: Is exchange rate – customer order flow relationship linear? Evidence from the Hungarian FX market

Yuliya Lovcha and Alejandro Perez-Laborda

2010/9: Inter-industry wage differentials in EU countries: what do cross-country time varying data add to the picture?

Philip Du Caju, Gábor Kátay, Ana Lamo, Daphne Nicolitsas and Steven Poelhekke

2010/8: Optimality criteria of hybrid inflation-price level targeting

László Bokor

2010/7: Analysing currency risk premia in the Czech Republic, Hungary, Poland and Slovakia

András Rezessy

2010/6: Trade policy: home market effect versus terms of trade externality

Alessia Campolmi, Harald Fadinger and Chiara Forlati

2010/5: The role of financial market structure and the trade elasticity for monetary policy in open economies

Katrin Rabitsch

2010/4: Optimal simple monetary policy rules and welfare in a DSGE Model for Hungary

Zoltán Jakab, Henrik Kucsera, Katalin Szilágyi and Balázs Világi

2010/3: Inflation asymmetry, menu costs and aggregation bias – A further case for state dependent pricing

Peter Karadi and Adam Reiff

2010/2: Firm-level adjustment costs and aggregate investment dynamics – Estimation on Hungarian data

Adam Reiff

2010/1: Risk premium shocks, monetary policy and exchange rate pass-through in the Czech Republic, Hungary and Poland

Balázs Vonnák

2009/5: Driving Forces Behind Changes in the Aggregate Labour Force Participation in Hungary

Gábor Kátay and Benedek Nobilis

2009/4: Capital liberalization and the US external imbalance

Elvira Prades and Katrin Rabitsch

2009/3: Macroeconomic announcements, communication and order flow on the Hungarian foreign exchange market

Michael Frömmel, Norbert Kiss M. and Klara Pinter

2009/2: Minimumwage and tax evasion: theory and evidence

Mirco Tonin

2009/1: A joint macroeconomic-yield curve model for Hungary

Zoltán Reppa

2008/9: An estimated DSGE model of the Hungarian economy

Zoltán Jakab and Balázs Világi

2008/8: Do Firms ProvideWage Insurance Against Shocks? – Evidence from Hungary

Gábor Kátay

2008/7: The Elasticity of Taxable Income: Estimates and Flat Tax Predictions Using the Hungarian Tax Changes in 2005

Péter Bakos, Peter Benczur and Dóra Benedek

2008/6: Driving Factors of Growth in Hungary - a Decomposition Exercise

Gábor Kátay and Zoltán Wolf

2008/5: Oil price shocks: Demand vs Supply in a two-country model

Alessia Campolmi

2008/4: The use of staff policy recommendations in central banks

Attila Csajbok