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The Information in Systemic Risk Rankings
Nucera, Federico - 2016
We propose to pool alternative systemic risk rankings for financial institutions using the method of principal components. The resulting overall ranking is less affected by estimation uncertainty and model risk. We apply our methodology to disentangle the common signal and the idiosyncratic...
Persistent link: https://www.econbiz.de/10013001189
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Downward Wage Rigidity in Hungary
Kátay, Gábor - 2011
estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in … Hungary than real rigidity. When compared to other countries participating in the IWFP, Hungary ranks among the countries with … the lowest degree of downward real rigidity. The estimated downward nominal rigidity for Hungary is higher, the measure is …
Persistent link: https://www.econbiz.de/10013121445
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Potential Output in DSGE Models
Vetlov, Igor - 2011
In view of the increasing use of Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic projections and the policy process, this paper examines, both conceptually and empirically, alternative notions of potential output within DSGE models. Furthermore, it provides historical...
Persistent link: https://www.econbiz.de/10013124588
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Fiscal Variables and Bond Spreads : Evidence from Eastern European Countries and Turkey
Nickel, Christiane - 2009
, Hungary, Poland, Russia and Turkey from May 1998 to December 2007. To account for the importance of market expectations we use …
Persistent link: https://www.econbiz.de/10013155821
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Export Characteristics and Output Volatility : Comparative Firm-Level Evidence for CEE Countries
Čede, Urška - 2016
an effect on the output volatility of firms. We use large representative firm-level databases from Estonia, Hungary …
Persistent link: https://www.econbiz.de/10012992414
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Substitution Between Domestic and Foreign Currency Loans in Central Europe. Do Central Banks Matter?
Brzoza-Brzezina, Michal - 2010
, based on a panel of four biggest Central European countries (the Czech Republic, Hungary, Poland and Slovakia) confirm …
Persistent link: https://www.econbiz.de/10013144575
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Wage Setting in Hungary : Evidence from a Firm Survey
Kezdi, Gabor; Kónya, István - 2021
This paper presents new evidence on the flexibility of the Hungarian labor market, with special emphasis on wages. The results are based on a new survey on wage setting among Hungarian firms. The survey is part of the Eurosystem Wage Dynamics Network (WDN), and it is a harmonized questionnaire...
Persistent link: https://www.econbiz.de/10013315982
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Do Firms Provide Wage Insurance against Shocks? Evidence from Hungary
Kátay, Gábor - 2021
responses to both permanent and transitory shocks in Hungary and compared my results to similar studies on Italian and …
Persistent link: https://www.econbiz.de/10013316455
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Structural Reforms and Macroeconomic Performance in the Euro Area Countries : A Model-Based Assessment
Gomes, Sandra - 2011
We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by simulating EAGLE, a multi-country dynamic general equilibrium model. We consider reforms in the labor and services markets of Germany (or, alternatively, Portugal) and the rest of the...
Persistent link: https://www.econbiz.de/10013127922
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The ECB's New Multi-Country Model for the Euro Area : NMCM - With Boundedly Rational Learning Expectations
Dieppe, Alistair - 2011
Rational expectations has been the dominant way to model expectations, but the literature has quickly moved to a more realistic assumption of boundedly rational learning where agents are assumed to use only a limited set of information to form their expectations. A standard assumption is that...
Persistent link: https://www.econbiz.de/10013128293