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EN
The study discusses the long-term characteristics of GDP growth, the economic cycle and its speed, and the time requirements of production. The wide dispersion in the rate of annual growth, as the reciprocal of the average rate of growth, is compared with the inertia found in the average length of the production cycle. An attempt is made to develop a long-term strategic outlook requisite for this.
EN
Hungarian monetary policy in the last decade is assessed using a textbook macroeconomic model, irrespective of change in economic-policy conditions and political influences. Monetary policy is seen as a key element of economic policy, whose aim to attain economic stability. According to this view, moderating the economic cycle and pursuing price stability are both tasks for economic policy
EN
The current global economic crisis is peculiar in many aspects. One of the key ones is the cumulating of more crisis phenomena at the same particular time (virtualization of the financial sector, polarization of wealth and poverty in society, immense increase of the moral gamble, but also unsustainable level of living standard, debt crisis, increase in arms expenses, wars, climate changes´ effects etc.). Both the theory and practice talk about globalization, however, in reality, both theory and practices remain bound to the national level. The ethical dimension, inhibition of corruption, removal of inefficiency in the public sector as well as new forms of regulations all create the necessary base for solutions to these problems.
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