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...

Cities in Europe are increasingly challenged by their responsibilities to provide public services and infrastructure. Many of them face the necessity for the modernisation and restructuring of their public infrastructural facilities, e.g. the local public transport infrastructure, utilities,...

Introduction -- Profit shifting and tax base erosion in 21th century -- Methodological approaches of the measurement of profit shifting and tax base erosion -- Economic analysis from the macro perspective -- Economic analysis from the micro perspective -- Economic policy in relation with fair...

In virtually all advanced industrialized countries, the explosive topic of immigration has engendered heated argument, political anger, cultural anxieties, and blatant racism. In the United States, most of the attention is on the stream of Mexicans crossing the border in such numbers that early...