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Financial vulnerabilities, macroeconomic dynamics, and monetary policy

Aikman, David; Lehnert, Andreas; Liang, Jean Nellie; … - 2016

We define a measure to be a financial vulnerability if, in a VAR framework that allows for nonlinearities, an impulse to the measure leads to an economic contraction. We evaluate alternative macrofinancial imbalances as vulnerabilities: nonfinancial sector credit, risk appetite of financial...

Persistent link: https://www.econbiz.de/10011578131

Varieties and interdependencies of demand and growth regimes in finance-dominated capitalism

Prante, Franz; Hein, Eckhard; Bramucci, Alessandro - 2021

We outline and simulate a stylised post-Keynesian two country stock-flow consistent model to demonstrate the interconnection of three of the main features/outcomes of finance-dominated capitalism, namely worsening income distribution for the bottom 90% households, the rise of international...

Persistent link: https://www.econbiz.de/10012696153

Demand and growth regimes in finance-dominated capitalism and a progressive equality-, sustainability- and domestic demand-led alternative : a post-Keynesian simulation approach

Hein, Eckhard; Prante, Franz; Bramucci, Alessandro - In: PSL quarterly review 76 (2023) 305, pp. 181-202

Making use of a post-Keynesian/Kaleckian two-country stock-flow consistent (SFC) simulation model, we shed light on different regimes in modern finance-dominated capitalism, their interaction at the global scale, and then on the changes in regimes after the 2007-09 crises. Most importantly, we...

Persistent link: https://www.econbiz.de/10014550808

Consolidation and legacy of foreign currency household lending in central and eastern Europe : the case of Hungary

Kolozsi, Pál Péter; Lentner, Csaba - In: Contemporary economics 14 (2020) 3, pp. 366-378

. Disregarding countries that joined the euro area, Hungary was the only state where household FX loans were completely phased out …. The aim of the paper is to provide a structured presentation of the circumstances of the FX loan conversion in Hungary and … household FX loans in Hungary from the point of view of the legal considerations, the interest rate environment, the …

Persistent link: https://www.econbiz.de/10012301687

FDI and long-term economic growth in Russia

Taganov, Boris - 2014

In this paper we consider relationship between foreign direct investment (as one of the mechanisms of technological development) and long-term economic growth. In the beginning we discuss the role of FDI in the increase of total factor productivity from the viewpoint of endogenous growth theory....

Persistent link: https://www.econbiz.de/10011399014

Utolérési kísérletek Magyarországon, 1870 - 2030

Mihályi, Péter - 2011

Persistent link: https://www.econbiz.de/10008797521

The causes of slow growth in Hungary during the post-communist transformation period

Mihályi, Péter - 2012

central position in this paper, too. -- Hungary ; catching-up ; productivity ; small and medium size firms ; Kaldor's law …

Persistent link: https://www.econbiz.de/10009522473

Myths and maths: macroeconomic effects of fiscal adjustments in Hungary

Horváth, Ágnes; Jakab, M. Zoltán; Kiss, Gábor P.; … - 2006

In this paper we investigate the possible effects of fiscal tightening in Hungary from two perspectives. First … their relevance for Hungary in a qualitative way. In our review of non-Keynesian channels of fiscal adjustments we conclude …

Persistent link: https://www.econbiz.de/10003347824

Argentina's (macroeconomic?) trap: some insights from an empirical stock-flow consistent model

Valdecantos, Sebastian - 2020

The Argentinean economy has just ended another lost decade. After the peak registered in 2011, the per capita GDP has oscillated with a decreasing trend, leaving the economy poorer than it was ten years before. During these ten years, different governments with conflicting macroeconomic programs...

Persistent link: https://www.econbiz.de/10012317601

Economic Policy Uncertainty in the Euro Area : An Unsupervised Machine Learning Approach

Azqueta-Gavaldon, Andres - 2020

We model economic policy uncertainty (EPU) in the four largest euro area countries by applying machine learning techniques to news articles. The unsupervised machine learning algorithm used makes it possible to retrieve the individual components of overall EPU endogenously for a wide range of...

Persistent link: https://www.econbiz.de/10012844456