The paper presents a model in which the exogenous money supply causes changes in the inflation rate and the output growth rate. While inflation and growth rate changes occur simultaneously, the inflation acts as a tax on the return to human capital and in this sense induces the growth rate...

In 1998, the left-of-center government of Hungary carved out a second pillar mandatory private pension system from the original mono-pillar public system. Participation in the mixed system was optional for those who were already working, but mandatory for new entrants to the workforce. About 50...

By 2008, the Hungarian pension system has become too generous and the implied contribution rate hindered growth. When the international economic and financial crisis deprived Hungary from normal credits, its government turned to international organizations for help. The most spectacular element...

The EU LEADER initiative has been running for 20 years and plays an important role in the development of European rural areas, however, in countries joining to the EU after 2004 it is still a relatively new phenomenon. In Hungary, for example, the LEADER+ programme was launched in 2005 with an...

This paper will approach the role of multinational companies (MNCs) in shaping Hungarian labour relations in a broader context. Departing from an overview of macroeconomic developments of the last two decades, all levels and aspects of labour relations, actors, strategies, institutions and...

Hungary is increasingly appearing on the map of trade in services. This is mainly due to the appearance of foreign owned shared services centres, regional or even global headquarters of multinationals. First, data problems are listed in detail when analysing tradable services (applying,...

This paper documents and decomposes the test score gap between Roma and non-Roma 8th graders in Hungary in 2006. Our data connect national standardized test scores to an individual panel survey with detailed data on ethnicity and family background. The test score gap is approximately one...