Hungary: Selected Issues

September 24, 2008

Preview Citation

Format: Chicago

Hungary: Selected Issues, (USA: International Monetary Fund, 2008) accessed November 22, 2024

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.

Subject: Central bank policy rate, Financial services, Fiscal policy, Fiscal rules, Inflation, Long term interest rates, Prices, Public debt

Keywords: Central bank policy rate, CR, Credibility effect, Fiscal rules, Global, Government bond, Inflation, Inflation expectation, Interest rate equation, ISCR, Long term interest rates, Long-term interest rates

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/314
Stock No:

1HUNEA2008002
ISBN:

9781451818109
ISSN:

1934-7685

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