The housing market becomes more essential in monetary policy. This paper attempts to analyse the role of the housing market in the monetary transmission mechanism with special focus on Hungary. The study first summarizes the experiences of developed countries, paying special attention to issues...

The housing market becomes more essential in monetary policy. This paper attempts to analyse the role of the housing market in the monetary transmission mechanism with special focus on Hungary. The study first summarizes the experiences of developed countries, paying special attention to issues...

More and more questions have arisen recently in the National Bank of Hungary about repo markets. The topic came into the lime light with the latest changes of monetary policy instruments. In addition, speculative activity on repo markets has given rise to some interesting questions. We have...

In this paper we investigate corporate investment behavior using a large panel of Hungarian firms between 1993 and 2002. The standard neoclassifical framework is used to derive empirically feasible specifications, however, several other issues beyond the scope of the framework are also...

In this paper we analyze the bank lending channel in Hungary. We provide a brief overview of the theory and the empirical approaches used to investigate the existence of bank lending channel. From the possible methods we use the generally applied approach suggested by Kahsyap and Stein (1995)...

This paper studies the pass-through from the short-term money market rate to various forint denominated bank rates in Hungary between 1997-2004. The analysis is based on linear and non-linear error correction models (ECMs), using both aggregated and bank level data. According to the linear ECM...