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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
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
This paper was commissioned by DG ECFIN from the EU Commission as part of the "EMU@10" project and is published in Hungarian language by the permission of the EU Commission. The original English language version of the paper is available at:...
Persistent link: https://www.econbiz.de/10003770688
jelentőségű, és ezzel a jegybank szerepe háttérbe szorul ezen a téren. A pénzteremtés irányítását a központi bank napjainkban már …
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
Boltszintû árstatisztikai felírások alapján a tanulmány a magyarországi inflációs folyamatok és árazási magatartás jellemzõinek regionális hasonlóságait és eltéréseit vizsgálja. Fõ tanulsága, hogy a hivatalos NUTS-II régiók nem képeznek önálló gazdasági egységeket,...
Persistent link: https://www.econbiz.de/10008578169
Persistent link: https://www.econbiz.de/10000957297
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Persistent link: https://www.econbiz.de/10000958208