In this paper, the authors study the changes in liquidity following the introduction of a new electronic limit order market when, prior to its introduction, trading is centralized in a single limit order market. They also study how automation of routing decisions and trading fees affect the...

Emigration has accelerated since 2007 in Hungary. The short history of the new phenomenon called intense political and social reactions. The paper focuses on a particular segment of emigration: on labour emigration of those employed persons who are still connected to the home country and...

Emigration has accelerated since 2007 in Hungary. The short history of the new phenomenon called intense political and social reactions. The paper focuses on a particular segment of emigration: on labour emigration of those employed persons who are still connected to the home country and...

Hungarian Abstract: A humanitárius problémaként induló menekültválság mára Európa-szerte biztonságpolitikai kérdéssé alakult. A migrációs válságot egy sor populista politikai hang nemcsak az egyes országok létét fenyegető, de az egész kontinenst és az Európai Unió...

Enabling educated individuals to work abroad entails a brain drain and results in educated unemployment at home. Because the prospect of migration raises the expected returns to higher education it also facilitates a "brain gain": a eveloping economy ends up with a higher fraction of educated...

Non-cognitive skills are important predictors of success on the labour market and in many areas of economic and social life. This paper explores the current literature on the economics of non-cognitive skill formation and the most important explanatory factors behind the recent boost of the...

Statistical data display a high level of sectorial and geographical concentration in the exports of three Central European new member states of the European Union: the Czech Republic, Hungary and Slovakia. All the three export huge quantities of the products of certain sectors of engineering...

Institutions of the liberal democracies of the developed Western world are increasingly insufficient to deal with the ever worsening of social problems associated with technological progress, the rapid economic transformation of the economy, the demographic issues and the acceleration of...

In this paper, we investigate how much of the wage differences between workers and districts is explained by employee and employer characteristics and by differences in regional characteristics. For this purpose, we use the Ministry of Finance's annual wage survey, which provides detailed data...

The starting point of this paper is a widely shared fundamental preference according to which Hungary should follow a fast, sustainable development path and catch up with the developed world in the foreseeable future. Questions raised in this paper are related to the instrumental preferences....