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Seit Beginn der neunziger Jahre befindet sich Ungarn in einem Transformationsprozess, der es hin zu einer … das derzeit in Ungarn bestehende System des föderalen Finanzausgleichs hinsichtlich der dezentralen Ebene zu erfassen … möglicher Reformoptionen und der Reformmodelle, die derzeit in Ungarn diskutiert werden, sind entsprechend im Blickwinkel der …
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This document gives a detailed account of the current version of the Hungarian Quarterly Projection Model (NEM). It describes the main building blocks, presents the forecast performance of the model and, finally, it illustrates the responses to the most important shocks the Hungarian economy may...
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The main goal of this paper is to examine the relationship between macroeconomic shocks and yield curve movements in Hungary. To this end, we apply a Nelson-Siegel type dynamic yield curve model, where changes of the yield curve are driven by two latent factors and some key macro variables that...
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By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this study evaluates the quantitative importance of idiosyncratic pricing shocks in short-run aggregate price change dynamics. Robustly to alternative definitions of the relative...
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The paper explains the observed asymmetric inflation response to value-added tax (VAT) changes in Hungary by calibrating a standard sectoral menu cost model on a new micro-level CPI data set. The model is able to reproduce important moments of the data, and finds that the asymmetry can be...
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When and how to subsidize tax-favored pension accounts? To defend myopic workers against themselves, the government introduces a mandatory system but to help savers, it adds taxfavored retirement accounts. If the mandatory system is progressive, then a proportional voluntary system can...
Persistent link: https://www.econbiz.de/10010494392