This paper uses a structural factor model to analyze sectoral heterogeneity in the impact of monetary policy in Hungary. Monetary shocks are identified with sign restrictions. The impulse responses of aggregate variables are similar to the findings of previous VAR based studies. The sectoral...

This study forecasts the Hungarian labor demand for 10 broad economic sectors for 2015. Using aggregate data for the period of 1992-2010 and a structural macroeconomic model, we find that the relative importance of agriculture and industry is likely to fall in total employment while the share of...

This study forecasts the Hungarian labor demand for 10 broad economic sectors for 2020. Using aggregate data for the period of 1992-2010 and a structural macroeconomic model, we find that the relative importance of agriculture and industry is likely to fall in total employment while the share of...

This paper exploits the rapid rise in self-employment rates in post-communist Eastern Europe as a valuable ?quasi-experiment? for understanding the sources of entrepreneurship. A relative demand-supply model and an individual sectoral choice model are used to analyze a 1993 survey of 27,000...