In this study we examine the impact on Hungary of a possible correction of global imbalances. We distinguished four different channels of the global adjustment process, which are widely referred to in the literature (fiscal tightening in the U.S.; housing price correction in the US; an increase...

The paper analyses the economic policy-making in the first phase of the epidemic in five Central Europe countries, Austria, Czechia, Hungary, Slovakia and Slovenia, whose economic structure is characterized by strong export orientation. We focus on the participatory character of the governments'...

The economic profiles of southern Mediterranean countries (SMCs) bear some resemblance to those of south-eastern European countries and some former Soviet republics at the beginning of their economic transition in 1990. The SMCs resemble less the former communist countries that joined the...

We discuss theoretical approaches to study the relationship between the size distribution of a nation's cities and macroeconomic growth. The discussion is based on the hypothesis of the New Growth Theory that inter-personal spillovers of education and skills determine the long-run growth of the...

This paper presents evidence on the industry effects of bank lending in Germany and identifies the industry effects of bank lending associated with changes in monetary policy and industryspecific bank credit demand. To this end, we estimate individual bank lending functions for 13 manufacturing...

1 Ausgangslage 2 Börsliche Intermediationsleistungen 3 Betriebswirtschaftliche Sicht: Wertschöpfung im Wertpapierhandel 4 Wettbewerb und Wettbewerbsstrategien: Markt für Märkte 5 Ausblick

We examine job creation and destruction in Eastern and Western Germany for the period of 1999 to 2004, using a large dataset, which enables us to capture clearly entries and exits. There are pronounced differences between the two parts of Germany in terms of magnitude and composition of gross...