The study examines the income redistribution effects of the Hungarian flat-tax and the introduction of the novel family allowance scheme on the basis of administrative data for 2007, 2011 and 2020, which yields more accurate estimates than previous studies based on aggregated or survey data....

The study examines the income redistribution effects of the Hungarian flat-tax and the introduction of the novel family allowance scheme on the basis of administrative data for 2007, 2011 and 2020, which yields more accurate estimates than previous studies based on aggregated or survey data....

Given that young children are under the control of their parents, if the government has a interest in either the welfare or the productivity of the former, it has no option but to act through the latter,. Parents are, in the ordynary sense....

We consider option pricing when dynamic portfolios are discretely rebalanced. The portfolio adjustments only occur after fixed relative variation of the stock price. The stock price follows a marked point process and the market is incomplete. We first characterize the equivalent martingale...

This paper evaluates the forecasting performance of a continuous stochastic volatility model with two factors of volatility (SV2F) and compares it to those of GARCH and ARFIMA models. The empirical results show that the volatility forecasting ability of the SV2F model is better than that of the...

Also published as DFAE-II Working Paper 2002-26 and as an article in: Journal of Economic Dynamics and Control, 2004, vol. 28, issue 11, pages 2297-2325