The Magyar Nemzeti Bank attaches great importance to making central bank analyses on various current economic and financial developments of general interest available to the wider public. The April 2011 issue of the MNB Bulletin contains four articles of particular relevance. The authors examine the foreign exchange reserve strategies of emerging countries; the introduction in Hungary of the HUFONIA Swap Index and the international experience of overnight indexed swap markets; the features of trade vouchers called “local money”; and a short-term appraisal of the reversal of the 1998 pension reform.
The articles of this volume can be downloaded below:
Judit Antal and Áron Gereben: Foreign reserve strategies for emerging economies - before and after the crisis
Szilárd Erhart and András Kollarik: The launch of HUFONIA and the related international experience of overnight indexed swap (OIS) markets
István Nándor Helmeczi and Gergely Kóczán: On trade vouchers called “local money”
Zsuzsa Kékesi and Gábor P. Kiss: The reversal of the pension reform 1998 from a short-term perspective
The complete volume can be downloaded here:
MNB Bulletin April 2011