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Analysis of the macroeconomic effects of EU transfers by the model ‘ECO-TREND’


  • Tibor Keresztély

    () (ECOSTAT, Budapest, Hungary)

  • Ilona cserháti

    () (ECOSTAT, Budapest, Hungary)

  • Zsuzsa Varga

    () (ECOSTAT, Budapest, Hungary)


EU transfers play a significant role in the long-term convergence of the Hungarian economy. The paper presents several channels through which transfers can be effective. First the modelling experiences and other techniques are summarised which can be useful to estimate the impact of EU transfers.Next we present the so-called ECO-TREND model developed in the ECOSTAT, suitable for both mid- and long-term forecasts and scenario analysis. The assessment of the model parameters has been based on standard statistical methods and on experts’ estimations. Such a model can be a useful decision-making tool for the economic policy. Finally, forecasts are presented for the Hungarian economy until 2020, which is completed by the analysis of three different macroeconomic scenarios based on different subsidy-absorption rates and different structures of expenditure.

Suggested Citation

  • Tibor Keresztély & Ilona cserháti & Zsuzsa Varga, 2008. "Analysis of the macroeconomic effects of EU transfers by the model ‘ECO-TREND’," Society and Economy, Akadémiai Kiadó, Hungary, vol. 30(2), pages 209-225, December.
  • Handle: RePEc:aka:soceco:v:30:y:2008:i:2:p:209-225

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    References listed on IDEAS

    1. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
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