Hungary: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 1996 Issue 109

Publication date: October 1996

ISBN: 9781451817829

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Labor , Economics- Macroeconomics , Public Finance , ISCR , CR , privatization , firm , Hungary , exchange arrangement , pension system , NBH assets , valuation loss , NBH law , Current account , Pensions , Pension spending , Retirement , Foreign assets , Eastern Europe , Asia and Pacific , East Asia

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Summary

This Selected Issues paper analyzes empirically the main determinants of Hungary’s inflation rate during 1990–96. Although there exist a number of possible methodologies to analyze this issue, the one proposed in the paper takes explicit account of the time-series properties of the variables that are potential candidates for explaining Hungary’s inflation performance. This leads to the specification of a long-term equation, linking consumer prices to a number of macroeconomic variables as well as to proxies for relative price shocks. The paper also examines the external current account and net foreign assets in Hungary.