We document the transmission of monetary policy and risk-premium shocks in Hungary, by applying recent advances in the Bayesian estimation of large VAR models. The method allows extracting information from over 100 series, opening the ""black box"" of the transmission mechanism to provide the...

This Selected Issues paper on Hungary presents an empirical analysis of the leading indicators for inflation and models the determinants of inflation. It summarizes current knowledge about the behavior of inflation and thus underpins the subsequent discussion of possible changes to the current...

The principles of budgetary completeness and transparency are indispensable elements of fiscal surveillance in the European Union. Within this context, this study deals with the leading question to which extent budgetary policy in the ten new EU member states (NMS) can be regarded as transparent...

In this research project we investigate how the design of school assignment rules affects social segregation and its implications for social inequality. The context of our study is the Hungarian school system, which is characterized by early ability tracking combined with a centralized...