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The study aims to revisit some of the macroeconomic issues related to Hungary's eurozone-accession. The government … Hungary actually intends to join the eurozone, it is in the country's best interest to fulfil the requirements necessary for … convergence could be improved. -- euro-adoption ; crisis in the eurozone ; country experiences in the eurozone ; economic …
Persistent link: https://www.econbiz.de/10009521086
The study aims to revisit some of the macroeconomic issues related to Hungary's eurozone-accession. The government … Hungary actually intends to join the eurozone, it is in the country's best interest to fulfil the requirements necessary for …
Persistent link: https://www.econbiz.de/10010494500
Persistent link: https://www.econbiz.de/10001249107
In this paper, we examine the cost of insurance against model uncertainty for the Euro area considering four alternative reference models, all of which are used for policy-analysis at the ECB. We find that maximal insurance across this model range in terms of a Minimax policy comes at moderate...
Persistent link: https://www.econbiz.de/10005345043
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Persistent link: https://www.econbiz.de/10001252600
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Hungarian Abstract: A hagyományos közgazdaságtan a reálelemzés keretében érvel, és ez akadálya a valós gazdasági folyamatok megértésének. Schumpeter és Keynes kritizálta ezt a megközelítést és helyette a monetáris elemzést alkalmazta. Ezt az elméleti alapvetést követem,...
Persistent link: https://www.econbiz.de/10012849610
Simple models of monetary policy often imply optimal policy behavior that is considerably more aggressive than what is commonly observed. This paper argues that such counterfactual implications are due to model restrictions and a failure to account for multiplicative parameter uncertainty,...
Persistent link: https://www.econbiz.de/10005207188
In spite of being mainly concerned with stabilization policies, central banks in many developed countries often advocate the necessity of structural reforms. In turn, demand-side policies - such as monetary policy - can often help improving the political support of reforms (two-handed-approach)....
Persistent link: https://www.econbiz.de/10005031605