Dear Guest! If you find an error on the page or you have any technical question please call the customer service center. Phone number is 06-80-203-776. The Central Bank of Hungary.

Individual Papers

 Financial and Economic Review, Vol. 19. Issue 2. Download / Read
In Search of the Lost Balassa–Samuelson Effect – The Changing Role of Services in the 21st Century PDF
Government Debt Reduction in the Old EU Member States: Is This Time Different? PDF
Aggregate Fiscal Stabilisation Policy: Panacea or Scapegoat? PDF
The Effect of Investor Short-Termism on the Capital Demand of European Listed Firms PDF
An Estimation of the Magnitude and Spatial Distribution of Usury Lending PDF
The Holy Trinity of Growth PDF
Back to the Basics – What Are the Flaws in the Financial System? PDF
Report on the 10th Annual Financial Market Liquidity Conference PDF
 Financial and Economic Review, Vol. 19. Issue 1. Download / Read
Inflation in the Digital Age: Inflation Measurement and Bias in the 21st Century PDF
Coordination(?) between the Branches of Economic Policy across the Euro Area PDF
Regional Features of Card Payments in Hungary PDF
Comparative Analysis of the Changes in Cash Demand in Hungary PDF
Studying Poverty in Economics – The Work of the 2019 Nobel Prize Laureates PDF
Bitcoin: Digital Illusion or a Currency of the Future? PDF
Changes in Macroeconomic Policy: Evolution versus Revolution PDF
A Review of the Conditions of Euro Area Accession PDF
The Impact of FinTech on the Future of Retirement Systems PDF
The Sky Won't Fall – The China–U.S. Trade War and Future Economic Relations PDF
Report on the Lámfalussy Lectures Conference Held in January 2020 PDF
Climate Risks and Business Opportunities – Report on the International Green Finance Conference in Budapest, November 2019 PDF
 Financial and Economic Review, Vol. 18. Issue 4. Download / Read
The Need for Trust and Ethics in the Digital Age – Sunshine and Shadows in the FinTech World PDF
Who Does Not Have a Bank Account in Hungary Today? PDF
Laffer Curves for Hungary PDF
Banking Supervisors Tracing the Transition to IFRS 9 PDF
Geopolitical Shifts in the Evolving New World Order PDF
A Breakthrough Idea in Risk Measure Validation – Is the Way Paved for an Effective Expected Shortfall Backtest? PDF
America’s Post-Obama Foreign Policy Dilemmas PDF
Long-Term Sustainable Econo-Mix PDF
The Global Economy is in Danger: On the Book of György Szakolczai through the Lens of Post-Keynesian School PDF
Doing What Has to Be Done PDF
Report on the Session of the Money and Capital Market Section and on the Panel Discussion of the Innovation Section of the Annual Congress of the Hungarian Economic Association in 2019 PDF
 Financial and Economic Review, Vol. 18. Issue 3. Download / Read
Hungary Is on the Path to Convergence PDF
Lifting the Veil on Interest PDF
Portfolio Cleaning of Problem Project Loans in Hungary – Experiences Related to the Systemic Risk Buffer, as a Targeted Macroprudential Instrument PDF
Novel Modelling of the Operation of the Financial Intermediary System – Agent-based Macro Models PDF
China in Search of Equilibrium – Transition Dilemmas of Growth and Stability PDF
Moral Economy – Beyond the Homo Oeconomicus PDF
Let Us Learn from Our Own History – Experiences from a Century and a Half of Public Finances PDF
Systemically into the Same Puddle – Foreign Currency Lending from Several Perspectives PDF
Towards New Frontiers in Pricing PDF
Report on the Pension and Children 2.0 Conference PDF
Report on the 2019 Conference of the Economic History Society PDF
 Financial and Economic Review, Vol. 18. Issue 2. Download / Read
Who Can Refinance? The Possibilities and Limitations of Market-based Refinancing in the Case of Mortgages with a Variable Interest Rate PDF
Comparison of Manipulation-proof Measures on Hungarian Data PDF
Performance Measurement of Active Investment Strategies Using Pure Factor Portfolios PDF
Issues and Types of Adverse Selection and Negative Selection PDF
Is Learning a Wonder Weapon of Endogenous Economic Growth? PDF
World Order Transformation – Is the Future in Eurasia’s Hands? PDF
Pillars and Prognoses – An Ethical Approach to Economics PDF
Collective Amnesia – Crises and Memories Thereof PDF
Report on the Budapest Renminbi Initiative 2019 Conference PDF
Report on the 9th Annual Financial Market Liquidity Conference PDF
 Financial and Economic Review, Vol. 18. Issue 1. Download / Read
Brave New Digital World? – Financial Technology and the Power of Information PDF
Integrity of Financial Benchmarks PDF
Analysis of Households’ Investment Decisions Based on International Data PDF
The Impact of Adverse Selection on Stock Exchange Specialists’ Price Quotation Strategy PDF
Optimising Nobel Prize Laureates PDF
Key to Understanding China, the Enigmatic Great Power PDF
The Future of the Financial Intermediary System in the Bank 4.0 World PDF
In Good Times Prepare for Crisis PDF
Report on the 2019 Lámfalussy Lectures Conference PDF
Report on the Conference on Famous Hungarian Economists of the 20th Century at Pázmány Péter Catholic University PDF
 Financial and Economic Review, Vol. 17. Issue 4. Download / Read
Business, Housing, and Credit Cycles – The Case of Hungary PDF
Capital Market Contagion in the Stock Markets of Visegrád Countries Based on the Heckman Selection Model PDF
An Analysis of the Payment Habits of Hungarian Micro, Small and Medium-sized Enterprises – In Focus: Cash Usage PDF
Depositors’ Behaviour in Times of Mass Deposit Withdrawals PDF
Monitoring of Banks' Risks Related to the Funding of Financial Enterprises PDF
Time To Look at the State in a Different Way – Value Creation and Innovation in the 21st Century PDF
Alternatives for Europe's Future PDF
A World Without Jobs PDF
Report on the Sessions of the Finance, Competitiveness and Responsible Corporate Governance Sections of the Annual Congress of the Hungarian Economic Association in 2018 PDF
 Financial and Economic Review, Vol. 17. Issue 3. Download / Read
Wage Inequality on the Hungarian Labour Market: Technological Change, Expansion in Higher Education and the Role of the Minimum Wage PDF
The Transparency of Credit Ratings – Reconstruction of Hungary's Sovereign Rating PDF
Developments in the GDP-GNI Gap in Hungary and the CEE Region PDF
Remittances – First Results of a New Survey PDF
Ethical Aspects of Intertemporal Discounting and the Social Discount Rate PDF
Loans and Credits – Delving Deeply into History PDF
How Will Technology Transform the Work of Human Experts? PDF
Report on the East-West Cohesion II International Scientific Conference PDF
 Financial and Economic Review, Vol. 17. Issue 2. Download / Read
The Hungarian Model: Hungarian Crisis Management in View of the Mediterranean Way PDF
Regulatory Tools to Encourage FinTech Innovations: The Innovation Hub and Regulatory Sandbox in International Practice PDF
Firm Dynamics and Aggregate Growth: The Case of Hungary PDF
Disaggregated Household Incomes in Hungary Based on the Comparative Analysis of the Reweighted Household Surveys of 2010 and 2015 PDF
The Link between Corporate Social Responsibility and Financial Performance in the Hungarian Banking Sector in the Years Following the Global Crisis PDF
Misbehaving – The Making of Behavioral Economics PDF
Fragile by Design: The Political Origins of Banking Crises PDF
Report on the Budapest Renminbi Initiative 2018 Conference PDF
Report on the 8th Annual Financial Market Liquidity Conference PDF
 Financial and Economic Review, Vol. 17. Issue 1. Download / Read
Financial Adjustment in Small, Open Economies in Light of the “Impossible Trinity” Trilemma PDF
Experiences of Debt Cap Regulations in Hungarian Retail Lending PDF
Analysis of SME Segment Lending Processes in Light of Credit Guarantees in the European Union PDF
Acceptance of Payment Cards by Retailers in Hungary Based on Data of Online Cash Registers PDF
Behavioural Factors in the Hungarian Retail Government Bond Market PDF
The Euro and the Euro Area: Flawed Construct or Unfit Members? PDF
The Contribution of Thaler to Behavioural Economics PDF
A Unique Exploration of Public Good and Public Financial Management (Mária Bábosik: Vezetés a közjó szolgálatában. Közpénzügyi gazdálkodás és menedzsment) PDF
Map for Predicting Finances and Human Nature (Alan Greenspan: The Map and the Territory 2.0: Risk, Human Nature, and the Future of Forecasting) PDF
Inequality and Economic Growth (Joseph E. Stiglitz: The Price of Inequality. How Today’s Divided Society Endangers Our Future) PDF
Report on the Lámfalussy Lectures Conference held on 12 February 2018 PDF
 Financial and Economic Review, Vol. 16. Issue 4. Download / Read
The Life Cycle Model of the Fertility Choice in Hungary PDF
Possible Paths for GDP Per Capita – Simulation with a Demographic Growth Model PDF
Fiscal Policy and the Business Cycle PDF
Trade Credit or Bank Credit? – Lessons Learned from Hungarian Firms between 2010 and 2015 PDF
Explanations of Asset Price Bubbles PDF
Operation of the International Monetary and Financial System – Structural Tensions of a “Non-system” PDF
Equity-based Crowdfunding PDF
Presentation of the Hungarian Publications of the Magyar Nemzeti Bank Published between 1950 and 1990 from a Visual Communication Perspective PDF
The Revolution of Money PDF
Has the US Economy Lost Its Long-term Growth Potential? PDF
Impact of the Financial Crisis on the European Constitutional System PDF
Report on the Competitiveness and Responsible Corporate Governance Section Workshops of the Hungarian Economic Association’s 2017 Itinerant Conference PDF
Report on the Digital Currencies International Conference PDF
The Future of Old-Age Provision – Demographic Change, Financial Services and Residential Property. International Expert Meeting Summary PDF
 Financial and Economic Review, Vol. 16. Issue 3. Download / Read
Resolving Conflicts in Measuring Banking System Competitiveness – MNB Banking System Competitiveness Index PDF
The Impact of the Fintech Phenomenon – Radical Change Occurs in the Financial Sector? PDF
Role and Measurement of Fair Valuation in the Hungarian Credit Institution Sector PDF
Capital Allocation in the Insurance Sector PDF
Optimal Resource Allocation at the Blue Economy Type of Firms PDF
"Resources in the Service of the Nation" – Alternative Options for the City Loan of 1925 and Its Spending PDF
Cycle Changing Years, Parallel Biographies PDF
The Industries of the Future – Open Economies Have the Edge PDF
The End of Competitive Advantages – Keeping Corporate Strategy Moving PDF
Swiss Knife for Decision-Making PDF
Globalisation, Development and Sustainability – Report on the 18th World Congress of the International Economic Association PDF
What Can We Learn from the Large Banker Dynasties? – Report on the Annual Conference of EABH PDF
Report on the (Our) Climate Affairs 2017 Conference PDF
 Financial and Economic Review, Vol. 16. Issue 2. Letöltés / Olvasás
An Analysis of the Incomes and Current Personal Transfers of Hungarians Living Abroad PDF
Experiences of the National Deposit Insurance Fund on the Age Composition of Depositors and on the Distribution of Deposit Amounts PDF
The Role of Individual Firms in Aggregate Fluctuations: Evidence from Hungary PDF
Social Responsibility in the Operation of Central Banks PDF
Endogenous Imbalances in a Single Currency Area PDF
A Possible Methodology for Determining the Initial Margin PDF
Thoughts about the Life Work of Kenneth Arrow PDF
Behavioural Finance and Consumer Loan Contracts PDF
A Compass and Map for Changes PDF
The Great Divide PDF
A Multidisciplinary Approach to Financial Culture PDF
Accounting in a Nutshell PDF
Lectures of the Lamfalussy Conference: Presentation of the Book ‘Alexandre Lamfalussy – Selected Essays’ PDF
Report on the Budapest Renminbi Initiative Conference 2017 PDF
Report on the Bank of Korea International Conference 2017 PDF
 Financial and Economic Review, Vol. 16. Issue 1. Download / Read
Indicators Used for the Assessment of the Reserve Adequacy of Emerging and Developing Countries – International Trends in the Mirror of Theories PDF
Developments in Government Interest Expenditure for Hungary, 2000–2015 PDF
Risks of Commercial Real Estate Financing Based on the Experiences of Supervisory Reviews PDF
The Impact of Climate Change on the Insurance Sector PDF
Insight into the Hungarian Automotive Industry in International Comparison PDF
Financial Supervision in Hungary between the Two World Wars PDF
Hart and Holmström’s Contributions to Contract Theory PDF
The Book that Predicted Trump’s Victory PDF
The Fed and the Financial Crisis PDF
Simplification, Efficient Governance PDF
The New Silk Road into the Future – Report on the Lámfalussy Lectures Conference of 23 January 2017 PDF
7th Annual Financial Market Liquidity Conference PDF
Financial and Economic Review, Vol. 16, Special Issue, 2017 Download / Read
Editorial Preface by the Editor-in-Chief PDF
Chinese Power Structure and Its Transformation in Comparative Perspective PDF
The Dilemmas of China’s Shift in Growth Trajectory and Economic Governance PDF
China – Rebalancing and Sustainable Convergence PDF
Could China Be the Winner of the Next Industrial Revolution? PDF
The Road to a Market-Oriented Monetary Policy and the “New Normal” Monetary Policy Regime in China PDF
Current Challenges Facing Chinese Financial Supervision and Methods of Handling these Challenges PDF
A Western Diet with Chinese Spices – The Specificities of Payments in China PDF
Challenges of Internationalisation from the Perspective of the Chinese Currency PDF
Hungary’s Link to Financial Cooperation with Asia PDF
Chinese Abstracts PDF
Financial and Economic Review, Vol. 15. Issue 4. Download / Read
Identifying the determinants of housing loan margins in the Hungarian banking system PDF
The International Practice of Statistical Property Valuation Methods and the Possibilities of Introducing Automated Valuation Models in Hungary PDF
Impact of the Funding for Growth Scheme on the Hungarian economy PDF
The insurance sector at a milestone: positive initial experiences with the newly introduced Solvency II system PDF
The wealth position of Hungarian households based on HFCS PDF
Value-Creating Uncertainty – A Real Options Approach in Ventu PDF
Systemic financial crises PDF
Growth differently – a bio-dynamic economic model PDF
The king has no clothes – the reality behind numbers PDF
Structural reforms for increasing competitiveness – Report on the annual conference of the Global Forum on Productivity (7-8 July 2016, Lisbon) PDF
Financial and Economic Review, Vol. 15. Issue 3. Download / Read
Bank resolution as a new MNB function – resolution of MKB Bank PDF
Administrative law aspects of the macroprudential regulation and supervision of the financial intermediary system – normativity, organisation, toolkit PDF
Supervision by robust risk monitoring – a cycle-independent Hungarian corporate credit rating system PDF
How to set listing criteria for small and medium-sized enterprises in Hungary? PDF
The Inequality of Globalisation PDF
Europe in trouble – Does the European Union promote or hinder the success of Europe today? PDF
Studies on the soft budget constraint syndrome, on innovation and great economic systems in honour of János Kornai’s birthday PDF
Lessons of the financial crisis PDF
Creative strategy PDF
Competitiveness and Growth Forum – Report on the first professional event held by the Competitiveness Section of the Hungarian Economic Association (HEA) PDF
Report on the summer session and annual seminar of the International Association of Insurance Supervisors (IAIS) held in Budapest PDF
Focus on financial service providers – Report on the 2nd Services Marketing Conference PDF
 Financial and Economic Review, Vol. 15. Issue 2. Download / Read
The interaction between fiscal and monetary policy in Hungary over the past decade and a half PDF
The controversial treatment of money and banks in macroeconomics PDF
Review of Hungarian EU transfers – at the border of two fiscal periods PDF
Key features of the Chinese bond market PDF
Risk Management Approaches and Bank Size PDF
Macroeconomic effects of the increase of electronic retail payments – A general equilibrium approach using Hungarian data PDF
Financial personality types in Hungary – research methods and results PDF
About ageing – for economists PDF
Core-Periphery Relations in the European Union – Power and Conflict in a Dualist Political Economy PDF
The future is spontaneous, yet predictable PDF
India – The contradictions of economic growth PDF
China’s secret strategy to replace the USA PDF
European Spring: Why Our Economies and Politics are in a Mess – and How to Put Them Right? PDF
Stock Exchange Development and Growth – Report on the lessons from the capital market conference of the Budapest Stock Exchange (BSE) and the Association of Hungarian Economists (AHE) PDF
Conference on financial market liquidity – Report on the 6th Annual Financial Market Liquidity Conference (AFML 2015) PDF
 Financial and Economic Review, Vol. 15. Issue 1. Download / Read
Methodological issues of credit rating – Are sovereign credit rating actions reconstructible? PDF
Revision of the quantification of market risk in the Basel III regulatory framework PDF
Transformation of the international and European project finance market as a result of the crisis PDF
Before and after acquisition in Hungary: focus on working capital management PDF
Volatility capital buffer to prevent the breach of the Solvency II capital requirements PDF
The Pénzintézeti Központ was established 100 years ago PDF
Cutting Edge Debates in Comparative Capitalisms PDF
Is it possible to live a happy life in a value-neutral world? PDF
A small monograph of big cities – The logic behind the regional foundations of growth PDF
Bull by the Horns — Persistent dilemmas of the banking system and the tightness of reins PDF
Europe needs a new social contract PDF
Member State Integration Models – New Dimensions of Economic Governance in the European Union PDF
New Silk Road – New Possibilities PDF
Many Facets of Institutions PDF
Catching Up or Lagging Behind? The Hungarian Economy a Quarter of a Century after the Political Transformation PDF
Financial and Economic Review, Vol. 14. Issue 4.  Download / Read
The Phillips curve – history of thought and empirical evidence PDF
Possible explanations of the low inflation environment and restrained investment activity PDF
Micro- and macroprudential regulatory instruments compared across the European Union PDF
Level of interest rates in the light of the changing interest rate policy in Hungary between 1924 and 2015 – How did the central bank base rate get to its historic low levels? PDF
Bank controlling with a marketing attitude – applied statistics in the service of controlling PDF
Timing characteristics of overnight unsecured interbank transactions in VIBER PDF
A world of debt PDF
Central banks and the labour market – an alternative interpretation of the euro area crisis PDF
Euro Crash – How Asset Price Inflation Destroys the Wealth of Nations PDF
Hungary in the changing world PDF
Genocide in Africa: Inertia or Indifference PDF
Key concepts of the philosophy of Mohandas Karamchand Gandhi PDF
Future of the banking sector in the Central and Eastern European region – Report on the joint conference of the Hungarian Economic Association and the Magyar Nemzeti Bank PDF
Financial and Economic Review, Vol. 14. Issue 3. Download / Read
Difficulties in the management of the global financial crisis: academic and economic policy lessons PDF
The impact of the easing cycle on the Hungarian macroeconomy and financial markets PDF
Phasing out household foreign currency loans: schedule and framework PDF
An analysis of the determinants of labour productivity in financial sectors in the context of intellectual property rights PDF
Incentives and restrictions in venture capital contracts PDF
Savings cooperatives + integration = More efficient payment services? PDF
The Great Degeneration in Brief: European and Hungarian perspectives PDF
Prospects for Growth PDF
New Directions – Redefining the Human Intellect in View of Technological Progress PDF
Governing the World – A Book On How International Organisations were Formed PDF
The Smartest Kids in the World PDF
The History of Neoliberalism: From Birth to Glory PDF
The Advantages of Disadvantages – Succeeding in Difficult Situations PDF
The Bible, If Read at the Right Time, Even Makes the Koran Easier to Understand PDF
The Right Way Ahead – It Will Become Part of the Curriculum… PDF
The Tricks of the Trade of Central Bank Governance – Report on the Central Banking Conference on the Governance of Central Banks PDF
Financial and Economic Review, Vol. 14. Issue 2. Download / Read
Labor’s Share in Hungary PDF
Show me how you pay and I will tell you who you are – Socio-demographic determinants of payment habits PDF
Analysis methodology of interbank reference rates – International trends and the results of the first Hungarian annual statistical analysis for 2014 PDF
The macroeconomic impacts of demographic changes in Hungary in the context of the European Union PDF
Topology of the foreign currency/forint swap market PDF
Bounded rationality and altruism: behaviourism in economics PDF
The leaven of growth PDF
Response to the comment of András Simonovits PDF
Why and how we cheat? PDF
The Death of Money PDF
The economic curse of great powers – Is US dominance threatened? PDF
Is China a real world power? PDF
Invisible predators PDF
Situations at the time of political changes PDF
Money should stay the means, not the end PDF
Thoughts about the euro-area crisis PDF
Financial and Economic Review, Vol. 14. Issue 1. Download / Read
Bad product development results in systemic market failure – Foreign currency mortgage loans to Hungarian households PDF
Diverging financial regulation after the crisis? A comparison of the EU’s and the United States’ responses PDF
International Trends in Student Lending PDF
The role of household portfolio restructuring in financing of the general government PDF
The safety trap – the financial market and macro-economic consequences of the scarcity of low-risk assets PDF
The most important steps of BUBOR reforms led by the Central Bank of Hungary in an international comparison PDF
Four hours is actually how many hours? – The actual time required for intraday transfers PDF
A brief commentary on József Banyár’s OLG-paper PDF
A Europe unifying in the midsts of 21st entury challenges PDF
Banking regulation Fine Tuned PDF
East Asian Development: Foundations and Strategies PDF
Inequalities Reloaded PDF
The Crisis of Our Institutions of Our Time PDF
Foreign currency loan dependency and consolidation PDF
When the music is over PDF
The human decision-making processes PDF
For-profit education in developing countries PDF
Orsolya Vida: Earthmoving migration PDF
New narrative for Europe PDF
What lies ahead for insurance companies? PDF
Financial and Economic Review, Vol. 13. Issue 4. Download / Read
Foreword PDF
Credit crunch in Hungary between 2009 and 2013 PDF
Inflation targeting in the light of lessons from the financial crisis PDF
Recovery from crises and lending PDF
Resolution Reform PDF
Crowdfunding: could it become a viable option for the Hungarian small business PDF
Back to basics: good indicators for good fiscal institutions PDF
Two scenarios of the evolution of modern pension systems PDF
The application of ensemble methods in forecasting bankruptcy PDF
How Human Psychology Drives the Economy and Why It Matters for Global Capitalism PDF
The Undercover Economist PDF
Old and New Challenges in Emerging Europe PDF
To the margins of a Nobel Prize winner’s ideas Beyond the cycles PDF
Stock market time series forecasting with date mining methods PDF

This website uses cookies to provide a more convenient browsing experience. By using this website, you accept the use of cookies. Please read our Cookie Guidelines, for more information on cookies, including information on how to disable or delete them.I accept

Please be informed that our Data Protection Guidelines were changed to be compliant with data protection laws.I understand