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Debt trap - monetary indicators of Hungary's indebtedness

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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
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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. 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.
    3. Rebecca L Driver & Peter F Westaway, 2005. "Concepts of equilibrium exchange rates," Bank of England working papers 248, Bank of England.
    4. 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).
    5. Tony Latter, 1996. "The Choice of Exchange Rate Regime," Handbooks, Centre for Central Banking Studies, Bank of England, number 2, April.
    6. 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.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    nominal FX rate; real effective FX rate; CDS;
    All these keywords.

    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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