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Debt trap - monetary indicators of Hungary's indebtedness

Author

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  • Sági, Judit

Abstract

In the circumstances of the financial crisis, sovereign debts have increased with an effect on foreign exchange rates (NEERs), CDS spreads, market liquidity and debt exposures in foreign currencies. This study aims to examine the features of the Hungarian sovereign debt by analysing the possible interactions among the variables and also the monetary aspects of debt financing. At the end, some conclusions are drawn from a monetary perspective.

Suggested Citation

  • Sági, Judit, 2012. "Debt trap - monetary indicators of Hungary's indebtedness," MPRA Paper 40343, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:40343
    as

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    File URL: https://mpra.ub.uni-muenchen.de/40343/1/MPRA_paper_40343.pdf
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    References listed on IDEAS

    as
    1. Balazs Vonnak, 2008. "The Hungarian monetary transmission mechanism: an assessment," BIS Papers chapters,in: Bank for International Settlements (ed.), Transmission mechanisms for monetary policy in emerging market economies, volume 35, pages 235-257 Bank for International Settlements.
    2. Rebecca L Driver & Peter F Westaway, 2005. "Concepts of equilibrium exchange rates," Bank of England working papers 248, Bank of England.
    3. Egert, Balazs, 2007. "Central bank interventions, communication and interest rate policy in emerging European economies," Journal of Comparative Economics, Elsevier, vol. 35(2), pages 387-413, June.
    4. Devereux, Michael B. & Engel, Charles, 2002. "Exchange rate pass-through, exchange rate volatility, and exchange rate disconnect," Journal of Monetary Economics, Elsevier, vol. 49(5), pages 913-940, July.
    5. András Rezessy, 2010. "Analysing currency risk premia in the Czech Republic, Hungary, Poland and Slovakia," MNB Working Papers 2010/7, Magyar Nemzeti Bank (Central Bank of Hungary).
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    nominal FX rate; real effective FX rate; CDS;

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • G01 - Financial Economics - - General - - - Financial Crises

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