| Description |
192 p. ; 30 cm. |
| Series |
CEU Economics Department PhD theses ; 2019/6
|
|
CEU Doctoral School in Economics
|
| Subject |
Financial crises -- Europe, Central
|
|
Financial crises -- Europe, Eastern
|
|
Convergence (Economics) -- Europe, Central
|
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Convergence (Economics) -- Europe, Eastern
|
|
Aging -- Economic aspects
|
|
Demography
|
| Language |
English |
| Summary |
Two of the three essays explore the possible consequences of demographic aging, while the third one estimates the main shocks of the convergence period of the Central-Eastern European countries. The first chapter shows that the secular stagnation hypothesis is valid only for those countries where the economic agents’ expectation is consistent with the theory of rational expectation. The second chapter (joint work with Zsuzsa Munkacsi) demonstrates that population aging contributes to a higher volatility of nominal variables, and the monetary policy becomes less efficient in influencing the output gap. The third chapter (joint work with Istvan Konya) applies a neoclassical growth model and shows that, behind of the post-socialist CEE countries, productivity and financial shocks were the key determinants of the convergence. |
| Note |
Degree: PhD |
| File Type |
PDF file (4003k) |
| Local note |
ETD |
| Access |
Unrestricted |
| System Det |
System requirements: Adobe Acrobat Reader; PostScript compatible printer |
|
