Hungary: Selected Issues
Electronic Access:
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Summary:
This Selected Issues paper for Hungary highlights the monetary policy framework in Hungary and the models used by the central bank (MNB). The MNB’s Quarterly Projection Model combines neo-Keynesian features in the short term with neoclassical features in the long term. It is a two-sector small-open-economy model, estimated by Bayesian methods. Fiscal policy is modeled using various revenue and expenditure items. Rich in sectoral details and structural shocks, the model generates impulse responses of different variables to structural shocks.
Series:
Country Report No. 2008/314
Subject:
Central bank policy rate Financial services Fiscal policy Fiscal rules Inflation Long term interest rates Prices Public debt
English
Publication Date:
September 24, 2008
ISBN/ISSN:
9781451818109/1934-7685
Stock No:
1HUNEA2008002
Pages:
42
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