Hungary; Selected Issues
This Selected Issues paper evaluates Hungary’s growth and current account performance by using a simple empirical model that provides benchmarks to measure GDP growth rates and current account deficits. The cross-country analysis suggests that in general, larger current account deficits are associated with faster income convergence. The model’s benchmark for Hungary suggests that its current account deficit has been larger than would be expected based on the income convergence process. The paper describes the motivation for, and specifics of, the modeling strategy, and the data used in the analysis.
|Date of creation:||29 Jun 2005|
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- Gali, Jordi & Gertler, Mark, 1999.
"Inflation dynamics: A structural econometric analysis,"
Journal of Monetary Economics,
Elsevier, vol. 44(2), pages 195-222, October.
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- Gergely Kiss & Judit Krekó, 2004. "Optimal Rate of Inflation in Hungary," MNB Background Studies (discontinued) 2004/1, Magyar Nemzeti Bank (Central Bank of Hungary).
- ., 2002. "Monetary Policy and Economic Performance in Mexico," Chapters,in: Monetary Stability and Economic Growth, chapter 8 Edward Elgar Publishing.
- Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September. Full references (including those not matched with items on IDEAS)
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