As the impact of monetary policy decisions manifests itself with a lag, decision-makers also need economic forecasts when they make decisions. In this paper, we present a method that may facilitate the integration of incoming data in the external demand forecast faster than is currently...

In our analysis, we examine the effects of emigration from Hungary on the labour market and its other economic implications. Since 2008 the number of emigrants has been rising significantly faster than the previous trend, and thus it is important to assess the possible consequences of higher...

In this paper, I examine the effect of tightness on wages in three Central European countries. The estimation is relevant for at least three reasons. Firstly, it is a novel exercise to check the implication of the Mortansen-Pissarides model on Central European data. Secondly, from the central...

The public work (PW) programmes have been the major active labour market policy tools since 2011 in Hungary. Majority of the public workers were inactive before the programme. Due to this the labour supply considerably increased in those district, which got significantly more subsidy from the...

In our study, we set out to present the characteristics of public workers between 2011 and 2019 based on the comprehensive and anonymous administrative database of the Hungarian State Treasury (MÁK). During the years under review, altogether 676 thousand people were involved in the programme....

We analyze the employment gap between Roma and non-Roma men and women in local labor markets to test the hypothesis that ethnic prejudices against a minority have a more substantial labor market impact if the proportion of small firms is high in the local economy. We rely on Hungarian data from...

Labour market tightness, that is the ratio of jobs to the unemployed, has an impact on wage setting, which also affects inflation. Among other things, the unemployment gap, which is the difference between unemployment rate and non-accelerating inflation rate of unemployment (NAIRU), is used to...