In Hungary in the pre-crisis period, the bank sector-initiated private credit boom significantly contributed to the accumulation of economic imbalances. Nevertheless, before the 2008 crisis no special regulatory measure was taken to mitigate the foreign exchange lending to unhedged borrowers,...

In Hungary in the pre-crisis period, the bank sector-initiated private credit boom significantly contributed to the accumulation of economic imbalances. Nevertheless, before the 2008 crisis no special regulatory measure was taken to mitigate the foreign exchange lending to unhedged borrowers,...

We analyze the relative roles of subsidiary and parent banking group traits in driving foreign banks' lending patterns in the Central and Eastern European (CEE) region before and during the crisis. We use a bank-level dataset on Western European banking groups and their CEE subsidiaries over the...

In our study, we examine the network structure of the currency swap market, the volume of which amounts to several times the Hungarian GDP. With this paper, we aim to establish a complete picture of the market by complementing the results for the overnight market. Additionally, we can now...

Due to a peculiar constellation of demand, supply and institutional factors, Hungary faced the 2008 economic crisis with a massive portfolio of household foreign currency loans. After several measures to mitigate the exposure of households, the permanent solution of phasing out foreign currency...

After the short temporary popularity of FX denominated loans, during the Great Financial and Economic Recession (2007–2013), the burden of these loans has become unaffordable for a lot of borrowers. We have designed a family of simple models to compare the cash flows of installments and the...

This paper analyzes the causes of the recent stagnation of Hungary's gross energy consumption. Applying a dynamic method, we estimate the effect of three factors: reduced growth, structural adjustment, and energy conservation. After an explanation of the methodology and a description of the...