Low outflow rates from unemployment and cuts in benefit entitlement periods resulted in sharp reductions in the coverage by Unemployment Insurance of the unemployed stock in Central and Eastern European countries during the 1990s. From mid-1994 in Hungary the most common benefit received by the...

The working paper presents the development of the housing market in Hungary between 1998 and 2013 through the history of the FHB House Price Index. For computing the FHB House Price Index FHB applied the hedonic method. At its first publication in 2009 the Index was based on actual transaction...

The central bank practice which emerged in the period following the financial crisis called into question numerous elements of interest rate considerations. In this paper we present a new theoretical framework that dispenses with the concept of real interest altogether, as a vague and...

The administration of benefits is a relatively neglected aspect of the analysis of disincentive effects of unemployment benefit systems. We investigate this issue with a field experiment in Hungary involving random assignment of benefit claimants to treatment and control groups, a method of...

The impact of the administration of unemployment benefits on time spent unemployed is a neglected issue in discussion of incentive effects in Central and Eastern Europe. We use Labour Force Survey data, administrative registers and inspection of benefit office practices to show that there is...