Working Papers


14-June-2012

English

14-June-2012

English

International capital mobility and financial fragility: Part 4. Which structural policies stabilise capital flows when investors suddenly change their mind? Evidence from bilateral bank data

The global financial crisis of 2007-09 and the ensuing sovereign debt crisis in Europe provide evidence that portfolio rebalancing of financial investors can contribute to spread financial turmoil across countries.

11-June-2012

English

Credit crises and the shortcomings of traditional policy responses

Economic downturns which have their roots in preceding credit excesses and debt overhang have tended historically to be long lasting, whether the financial sector remained healthy or not.

30-May-2012

English

Ensuring stability and efficiency of the Hungarian financial sector

Loan creation has not recovered after the crisis owing to a combination of demand and supply factors.

Related Documents

13-March-2012

English

Assessing the sensitivity of Hungarian debt sustainability to macroeconomic shocks under two fiscal policy reactions

Hungarian debt level has steadily increased since 2001, with the debt-to-GDP ratio reaching about 84% at end-2011.

Related Documents

13-March-2012

English

Do house prices impact consumption and interest rate? Evidence from OECD countries using an agnostic identification procedure

This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for the seven major OECD countries using Uhlig's (2005) agnostic identification procedure.

2-January-2012

English

Public spending efficiency in the Czech Republic: fiscal policy framework and the main spending areas of pensions and healthcare

The Czech fiscal position is generally sound and policy making is prudent. However, the fiscal framework was not strong enough to contain spending in the upturn and it would benefit from independent budget oversight.

Related Documents

2-January-2012

English

Explaining the interest-rate-growth differential underlying government debt dynamics

The differential between the interest rate paid to service government debt and the growth rate of the economy is a key concept in assessing fiscal sustainability.

21-December-2011

English

Current issues in managing government debt and assets

The management of government debt and assets has important implications for fiscal positions.

14-December-2011

English

Systemically important banks and capital regulation challenges

Bank regulation might have contributed to or even reinforced adverse systemic shocks that materialised during the financial crisis.

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