Széchenyi István University
Recent publications
The economic emission load dispatch (EELD) problem is one of the main challenges to power system operators due to the complexity of the interconnected power systems and the non-linear characteristics of the objective functions (OFs). Therefore, the EELD problem has attracted significant attention in the electric power system because it has important objectives. Thus, this paper proposes the equilibrium optimization algorithm (EOA) to solve the EELD problem in electrical power systems by minimizing the total fuel cost and emissions, considering system and operational constraints. The OFs are optimized with and without considering valve point effects (VPE) and transmission system loss. The multi-OF, which aims to optimize these objectives simultaneously, is considered. In the proposed EOA, agents are particles and concentrations that express the solution and position, respectively. The proposed EOA is evaluated and tested on different-sized standard test systems having 10, 20, 40, and 80 generation units through several case studies. The numerical results obtained by the proposed EOA are compared with other optimization techniques such as grey wolf optimization, particle swarm optimization (PSO), differential evolution algorithm, and other optimization techniques in the literature. To show the reliability of the proposed algorithm for solving the considered OFs on a large-scale power system with and without considering different practical constraints such as VPE, ramp-rate limits (RRL), and prohibited operating zones (POZs) of generating units, the proposed EOA is evaluated and tested on the 140-unit test system. Also, the proposed multi-objective EOA (MOEOA) successfully acquires the Pareto optimal front to find the best compromise solution between the considered OFs. Also, the statistical analysis and the Wilcoxon signed rank test between the EOA and other optimization techniques for solving the EELD problem are performed. From numerical results, the total fuel cost obtained without considering VPE using the proposed EOA is reduced by 0.1414%, 0.1295%, 0.6864%, 5.8441% than the results of PSO, with maximum savings of 150 /hr,78/hr, 78 /hr, 820 /hr,and14,730/hr, and 14,730 /hr for 10, 20, 40, and 80 units, respectively. The total fuel cost considering VPE is reduced by 0.0753%, 0.2536%, 2.8891%, and 3.6186% than the base case with maximum savings of 80 /hr,158/hr, 158 /hr, 3610 /hr,9230/hr, 9230 /hr for 10, 20, 40, and 80 units, respectively. The total emission is reduced by 1.7483%, 12.8673%, and 7.5948% from the base case for 10, 40, and 80 units, respectively. For the 140-unit test system, the total fuel cost without and with considering VPE, RRL, and POZs is reduced by 6.4203% and 7.2394%, than the results of PSO with maximum savings of 107,200 /hrand126,400/hr and 126,400 /hr. The total emission is reduced by 2.5688% from the base case. The comparative studies show the superiority of the EOA for the economic/environmental operation of the power system by solving the EELD problem with more accuracy and efficiency, especially as the system size increases.
This study investigates the effect of filament moisture content on material extrusion (MEX) 3D-printed composites using acrylonitrile butadiene styrene (ABS) as the polymer matrix and 0–10 vol% hexagonal boron nitride (BN) as reinforcement. ABS/BN composites were prepared through batchwise compounding and extruded into MEX-suitable filaments. The filaments were conditioned at 30 °C and 10% or 90% relative humidity (RH) before/during direct feeding into the 3D printer. Specimens were fabricated with raster angles parallel (0°) and perpendicular (90°) to their length. Micro- and macrostructural analyses using scanning electron microscopy and computed tomography revealed intensive void formation, especially in BN-filled composites 3D-printed from humid filaments. This was attributed to BN acting as a physical barrier, hindering the outgassing of evaporated water during 3D printing. Mechanical properties were evaluated using tensile and Charpy impact tests. Based on the tensile test results, neat ABS was the least sensitive to filament moisture, with tensile strength at 0° raster angle dropping from 40.5 MPa to 36.7 MPa as storage RH was increased from 10 to 90%. For composites with 10 vol% BN loading, tensile strength dropped from 34.1 MPa to 22.3 MPa. Charpy impact strength exhibited similar reductions, ascribed to the porous structure of the BN-filled composites caused by the evaporated moisture. Thermal conductivity was also examined, showing slightly superior performance for samples 3D-printed from filaments stored in less humid conditions. For unfilled ABS, the conductivity slightly decreased from 0.188 to 0.185 W/mK, while for 10 vol% BN-filled composite, it dropped from 0.778 to 0.617 W/mK.
Az m-health alkalmazások népszerű formája az életstílus és jóllét (LS) applikációk, amelyek lehetővé teszik az aktív életmód folytatását az egészségi állapot fenntartása és fejlesztése érdekében. Az LS-applikációk minőségének és következményeinek megértése elengedhetetlen az IT-szolgáltatások értékelési mechanizmusának megértéséhez. Jelen tanulmány célja az m-health applikációk minőségének felhasználói értékeléséhez kifejlesztett uMARS-skála adaptációja és a minőség– elégedettség–észlelt hatás tényezők közötti kapcsolatrendszer feltárása, LS-alkalmazások körében. Az adatgyűjtést online megkérdezési technikával, 2023 őszén végezték el, a mintanagyság 157 fő. A többdimenziós kutatási modellben szemléltetett hipotézisek teszteléséhez PLS SEM-módszert alkalmaztak. Megállapítható, hogy az LS-applikációk négy minőségi dimenziója közvetlen hatást gyakorol az általános elégedettségre. Az életstílus-applikációk minőségi dimenziói közül a funkcionalitás, az információtartalom és az esztétika közvetlenül hat a felhasználók által érzékelt egészséggel kapcsolatos tudásra, attitűdre és magatartásra. A minőségi dimenziók közvetett formában is befolyásolják a felhasználók által észlelt egészséget érintő tényezőket, az elégedettségen keresztül.
This study addresses a substantial knowledge gap by conducting a complete evaluation of the present landscape and future directions of Industry 5.0. It recognizes the need of synthesizing a wide body of relevant research in order to get a better understanding of the complex nature of Industry 5.0. Using a comprehensive and systematic approach, the current study performed a co-word analysis and BERTopic modeling on a carefully selected dataset of 933 journal articles, sourced from Scopus and originally published between 2016 and 2024. These techniques facilitated the identification and analysis of significant patterns and uncovered integration of technology progress with human-centered strategies in Industry 5.0 frameworks. The study reveals the significant impact of new technologies, such as artificial intelligence (AI), cyber-physical systems, and blockchain processes, on improving operational efficiency, security, and sustainability. The study highlights the significance of incorporating these technologies into industrial processes to promote settings that are creative, productive, and attentive to human requirements. The trend analysis uncovers dynamism within Industry 5.0 research, which is featured by a blend of technological innovation, sustainability, and ethical considerations. Combined, these shape a future where these components are deeply interconnected. The research has significant implications, as it provides theoretical advancements and practical recommendations that might impact future industrial policy and firm operations. This study addresses a significant need by offering valuable information on how to combine technical advancements with ethical and sustainable approaches. The goal is to improve productivity and promote the well-being of society. This work is groundbreaking inasmuch as it is one of the first extensive studies in this field. It establishes an important guide for future academic research and practical use in the changing landscape of Industry 5.0.
The quality of the oncologic care is evaluable with meaningful outcome indicators. Five-year overall survival (OS) rate is a good indicator for treatments of curative intent for localised diseases. One-year OS rate and median survival are good indictors for treatments of palliative intent for metastatic diseases. This study assessed 5-year follow-up data of a regional uro-oncological centre. Patients presented at the multidisciplinary uro-oncology tumour board of Petz Aladár Hospital are prospectively followed-up. In 2017 the oncology board made decisions for the treatment of 353 patients. No patient diagnosed with urological malignancy was excluded. Patients were offered validated surgical, radiation or medical treatments of curative or palliative intent consistent with international guidelines or comfort treatment if anticancer therapy was not possible. The 5-year disease specific OS rate of patients treated for localised prostate-, kidney- and muscle invasive bladder cancer was 79%, 81% and 21% respectively. The respective 1-year OS rate of patients treated for metastatic prostate-, kidney- and bladder cancer was 70%, 40% and 33%, median survival was 36, 8 and 8 months. This simple method of surveillance is suitable for the internal quality control of a multidisciplinary tumour board. The data of the first 5-year follow-up indicate well balanced care for urological malignancies at Petz Aladár Hospital. The results correspond to high quality requirements in a country with generally poor oncologic outcome indicators.
This paper investigates how plants respond to stress caused by asbestos cement products in irrigation water. It presents a thorough evaluation of the exposure and risk factors for plants, water, and soil when exposed to these materials. The experimental results provide empirical evidence of plant stress responses based on physiological and germination parameters. The research is motivated by concerns about environmental contamination from asbestos cement in irrigation water, which can be toxic to plants and lead to soil pollution, negatively impacting vegetation and soil quality. When exposed to asbestos in water, plants experience toxic stress that can inhibit photosynthesis, nutrient uptake, and germination. Asbestos can also adversely affect cell division and metabolism, risking plant growth, reproduction, and overall health, as well as making them more susceptible to disease and pests under environmental stress. The paper examines the impact on germination and physiological parameters of Trifolium pratense, Medicago sativa, and Solanum lycopersicum, particularly how they were affected by pre-established concentrations of irrigation water mixed with asbestos cement during a controlled germination experiment. The research methodology was developed in the absence of established global practices, standards, and methods, creating an opportunity for further methodological advancement. The findings could serve as a situational analysis for professionals in environmental plant protection and analytical fields.
This study explores existing research on neural networks, fuzzy logic-based models, and genetic algorithms applied to brain tumor classification. A systematic review of 53 studies was conducted following PRISMA guidelines, covering search strategy, selection criteria, quality assessment, and data extraction. Articles were collected from three scientific databases: Web of Science, Scopus, and IEEE. The review primarily focuses on practical contributions, with most studies emphasizing applications over conceptual insights. Key methods in the field demonstrate significant impact and innovation. Commonly used training and testing mechanisms include dataset splitting, augmentation, and validation techniques, highlighting their widespread adoption for performance evaluation. The analysis of evaluation metrics shows that accuracy and the DICE score are the most frequently used, alongside sensitivity, specificity, recall, and other domain-specific measures. The variety of metrics underscores the need for tailored approaches based on dataset characteristics and research objectives. By highlighting trends, challenges, and research gaps, this review provides actionable insights for advancing BTC research. It offers a comprehensive overview of techniques and evaluation methods to guide future developments in this critical domain.
In today’s competitive environment, evaluating and selecting stocks for portfolio optimization is a critical challenge for investors, especially under conditions of uncertainty. Traditional approaches often fail to address the complexities of multi-criteria decision-making (MCDM) in real-world investment scenarios. This study introduces a novel fuzzy Ordinal Priority Approach based on Aczel–Alsina weighted evaluation (OPA-AAWE) to tackle the portfolio selection problem. Taking into account seven financial performance criteria, the model was applied to 374 stocks listed on the Istanbul Stock Exchange for a period of 12 months. The findings demonstrate that the proposed methodology effectively handles uncertainty, offers flexibility in decision-making, and identifies the most optimal portfolios. Sensitivity analysis further confirms the robustness and reliability of the model. These results highlight the practical applicability of the fuzzy OPA-AAWE framework in real-world investment decision-making, offering investors a comprehensive tool for improved portfolio selection.
This study investigated the automotive applicability of parts produced from a newly developed foamed recycled polyethylene terephthalate (rPET). The injection molded part contained a combination of both endothermic and exothermic foaming agents and phosphorus (Exolit OP 1240) (OP)- and melamine polyphosphate (MPP)-based flame retardant agents. The parts were produced using a breathing mold technique to achieve a suitable level of foaming. The aim was to produce lighter parts made of recycled material that also complied with the fire safety automotive industry standards. Computer tomographic scans revealed the foam structure formed successfully, which contributed to an improved strength-to-weight ratio. The scans further showcased that larger cells tended to form in the thicker areas within the part, while smaller cells generally formed in the thinner areas. Finite element simulations showed that the large cell formation in the thicker parts had no effect on the part’s load bearing property, and there were not stress concentration points after the boundary conditions were defined. The sample produced from the material was determined to be a possible replacement of small-sized automotive components.
A koronavírus-betegség (COVID–19) klinikai megnyilvánulásai rendkívül változatosak, az aszimptomatikus állapottól az életveszélyes komplikációkig és halálig terjedhetnek. A súlyos kórlefolyás gyakrabban fordul elő idősebb korban, férfiaknál és a különböző komorbiditások jelenléte esetén. Ezeken a kockázati tényezőkön túl a vírus belső tulajdonságai, valamint a gazdaszervezet genetikai tényezői is hozzájárulnak a COVID–19 klinikai képének heterogenitásához. A genetikai kutatások alapvető fontosságúak a veleszületett betegségek hátterében álló biológiai mechanizmusok megértésében, a különböző öröklött állapotokra való fogékonyságért felelős gének és fehérjék azonosításában, a terápiás szempontból releváns célpontok felismerésében, az indikáción túli gyógyszeralkalmazás javaslatában, valamint az egyes környezeti kockázati tényezők ok-okozati összefüggéseinek tisztázásában is. Bár ezek a kutatások általában hosszú időt vesznek igénybe, különösen amíg eredményeiket a napi betegellátásba átültetik, a különböző COVID–19-fenotípusok mögött meghúzódó genetikai jelek feltárásában a tudományos világ rendkívül gyorsan cselekedett. Ebben az összefoglalóban a SARS-CoV-2 felismerésének és az ellene irányuló immunválasz kezdeti lépéseinek tömör ismertetésén túl célunk az, hogy áttekintsük a szakirodalmat azon genetikai tényezők tekintetében, amelyek kifejezetten a betegség iránti fogékonysággal és a súlyos, kritikus kórlefolyással hozhatók összefüggésbe. Áttekintjük az érintett gének azonosításában végzett úttörő kutatásokat, valamint a gyakori és ritka genetikai variánsokat egyaránt felölelő legjelentősebb genomszintű asszociációs vizsgálatokat is, amelyek nagyban hozzájárultak a betegség etiológiájának megértéséhez, és egyúttal irányt mutattak a COVID–19 eredményes kezeléséhez a legnehezebb időkben. Orv Hetil. 2025; 166(18): 679–696.
The rapid pace of industrial development has significantly increased the demand for virtual testing of machines and control algorithms. Besides traditional simulations, machine learning has become widespread: certain subsystems or even the entire simulation model is replaced by neural network models.Besides existing concepts, this work explores the feasibility of employing neural network models to replace dynamic equations in multibody systems.The neural network model is developed using the MLP Regressor from Scikit-learn Python package in three levels: 1) forward dynamics of minimum-coordinate models and 2) constrained models and 3) the inverse dynamics control of underactuated multibody systems. The neural network model is utilized to represent the inverse dynamics model, for which the train data are generated using forward dynamic simulations. The study demonstrates that low degree-of-freedom planar systems can be approximated by middle-scale neural network models up to six hidden layers and 166 perceptrons, requiring training time of minutes on a personal computer.
This study aimed to evaluate the heritability (h²) estimates of some important udder conformation traits, their relationship to each other and with production, and their phenotypic and genetic trends over a 10-year period in relatively high-yielding Holstein-Friesian cows. A total of 15,032 cows from six herds in Hungary were tested for milk (MY), butterfat (FY), and protein (PY) production yields over 305 days in first lactation. In addition, their udder conformation was scored for udder attachment (FU), rear udder height (RUH), central ligament (CL), udder depth (UD), front teat placement (FTP), and udder texture (UT) on a 1–9 linear udder score scale. REML and BLUP single-step animal model and linear regression model were used for data analysis and estimation. The production traits of the cows were quite reasonable, with 10,179.4 kg milk, 380.3 kg fat, and 333.1 kg protein in a standard lactation of 305 days. The scores of the udder conformation traits (5.4 to 6.1) were slightly above the mean of 5 on a linear scale of 1–9. The h² for MY, FY, and PY were obtained from 0.30 to 0.35, while those for udder traits were from 0.22 to 0.41. Phenotypic (rp) and genetic (rg) correlations for the relationship between production and udder conformation were weak or negligible (ranged from −0.33 to +0.15). Most of the associations between different udder traits were generally weak, but moderate positive correlations were observed between FU and UD (rp = 0.42, rg = 0.50 or 0.57), and between FU and UT (rp = 0.36, rg = 0.33 or 0.35). There were increasing genetic trends in the milk production (b = 2.2 to 16.5), but the studied udder conformation traits did not change over time (b = 0.00 to 0.03). In our study, despite an increase in milk yield over the studied ten-year period, udder conformation traits did not change. Therefore, considering that udder conformation scores were slightly above average and that udder traits were included in the selection index, we believe that it may be necessary to reconsider the udder conformation scoring system and its inclusion in the selection index.
This study investigates the effect of annealing heat treatment on polymer composites composed entirely of biodegradable components. Poly(lactic acid) (PLA) was used as the matrix material paired with three different types of commercial lignocellulose fibers of varying sizes. Composites containing 10 wt.% fibers were processed through extrusion followed by injection molding. The amorphous (unannealed) and semi‐crystalline (annealed) samples were characterized for their morphological, thermal, mechanical, and water absorption properties. Scanning electron microscopic analysis revealed a homogenous distribution of cellulose fibers within the PLA matrix, even though the composite with the smallest fiber size exhibited slight agglomeration. Differential scanning calorimetric measurements indicated that the annealing heat treatment successfully induced crystallization, with the filler particles capable of increasing the extent of crystallinity formed during the annealing heat treatment from 28% to 36%. Based on the tensile tests, as a result of annealing heat treatment, the composites' strength increased from 48–50 to 53–56 MPa, while their Young's modulus increased from 3.1 GPa to 3.3‐3.5 GPa. The Charpy impact tests also revealed an enhanced toughness for the samples exposed to the annealing heat treatment. In terms of water absorption, annealing enhanced the hydrophobic nature of PLA. In addition, the semi‐crystalline structure formed during the heat treatment also inhibited the highly hydrophilic cellulose fibers from absorbing as much moisture as they did when incorporated inside amorphous PLA; cellulose fibers embedded in the semi‐crystalline PLA matrix consequently exhibited less moisture absorption than the ones in amorphous PLA. Highlights Through annealing, crystallinity was developed in PLA/lignocellulose composites. Lignocellulose fibers facilitated crystallization by acting as a nucleating agent. Crystallized biocomposites exhibited superior mechanical properties Crystalline segments hindered the water absorption of embedded lignocellulose.
Planar optical waveguides were fabricated in Pr:YLF crystals by ion implantation. In a further step, ridge waveguides were fabricated using precision diamond dicing. These enable strong light confinement and have propagation losses as low as 0.4 dB/cm. To study the influence of ion implantation on the spectroscopic properties, fluorescence and lifetime measurements were conducted in the ridge waveguides. Under blue pumping, small-signal optical gains of 6.5 dB/cm and 5 dB/cm were demonstrated at wavelengths of 607 nm and 639 nm, respectively. These results make ion-implanted ridge waveguides in Pr:YLF promising candidates for compact integrated lasers in the visible spectral region with high output powers in the watt range.
On the base of experimental results we can conclude that the mini bolt and large internal threads as well as large bolt and mini internal thread combination leads to developing of not satisfied preload. It means that the combination of marginal values of the tolerance field could cause “loose” or “forced” fittings. If we consider the presence of lubricant it could effect the overloading of the bolt connection.
Forest resources provide rural areas with abundant products and ecosystem services. However, due to difficulties and shortcomings in assessing the ecosystem service value of these resources in rural areas, investors or funding institutions often lack a comprehensive understanding of their true value. Consequently, challenges such as difficulties in securing rural forestry guarantees, limited loan amounts, and inadequate compensation standards have emerged, resulting in severely restricted investments in rural forest resources. This study aims to address these issues by establishing a comprehensive valuation system for the ecosystem services provided by rural forest resources, thereby enabling a more accurate assessment of their value. This study focuses on Muyun She Nationality Township in Fuan City, China, and valuates the ecosystem service value of the forest resources in this locality. The findings reveal that the annual economic value of ecosystem services provided by forest resources in Muyun She Nationality Township amounts to 397,899,293.49 yuan. Direct value constitutes over 63% of the total, with forest by-products contributing the largest share at 32%, followed by forest-related rural tourism at 31%. This underscores the significant contribution of agricultural products and tourism from rural forest resources to the local economy. Moreover, the study highlights the crucial role of rural forest resources in providing agricultural by-products, promoting rural tourism, enhancing rural economic development, and facilitating rural revitalization efforts. In light of these findings, this paper advocates for private-sector investment, expanding financing channels, and developing tourism projects to diversify investment channels for rural forest resources and increase investment amounts.
The objective of this study was to examine the impact of green supply chain management (GSCM) on sustainable performance (SP) and the mediating role of green knowledge sharing (GKS), green innovation (GI), and big data-driven supply chain (BDDSC) in SMEs of Pakistan as a developing country. Primary data was gathered through adopted questionnaires from SME employees. Four hundred sixty-nine cases were considered for data analysis after data clearing in SPSS version 25. Furthermore, the proposed hypotheses were tested with the help of SmartPLS version 3 through structural equation modeling SEM. Findings revealed all seven direct hypotheses, including GSCM on SP, GKS, GI, and BDDSC and GKS, GI, and BDDSC on SP in SMEs of Pakistan. Moreover, the partial mediation effect of GKS, GI, and BDDSC was also confirmed between GSCM and SP. This study contributes to the context of SMEs in developing countries and recommends findings for future policies and implications at the firm and government levels for better results. Policymakers, SME owners, and managers must support innovation culture, engage their stakeholders, and invest in new products, processes, and business models relevant to addressing environmental and sustainability concerns. Moreover, Pakistan’s government policymakers recognize SMEs’ power to effectively integrate GSCM knowledge sharing, green innovation, GSCM practices, and big data technology into supply chain management.
Bevezetés: Az elmúlt években az egészségügyi rendszerben észlelhető szerkezeti és jogi változások következtében a magánegészségügy szerepe hangsúlyosabbá vált, aminek következtében a Maternity Szülészeti és Nőgyógyászati Magánklinikán az éves szülésszám jelentős növekedése volt megfigyelhető. A klinika alapvető törekvése már a kezdetektől fogva az, hogy magas szintű, szakmai protokollokon nyugvó perinatológiai ellátást nyújtson minden páciens számára, a betegforgalomtól függetlenül. Célkitűzés: A jelen vizsgálat célja a Maternity Szülészeti és Nőgyógyászati Magánklinikán nyújtott 2023. évi neonatológiai ellátás mennyiségi és minőségi mutatóinak elemzése és összegzése. Módszer: Retrospektív vizsgálatunkban a 2023. január 1. és 2023. december 31. között a Maternity Szülészeti és Nőgyógyászati Magánklinikán élve született újszülöttek adatait elemeztük, a releváns eredményeket grafikonon ábrázoltuk. Eredmények: A Maternity Szülészeti és Nőgyógyászati Magánklinikán 2023-ban 1461 újszülött született élve, az újszülöttek túlnyomó többsége a 38–39. héten (n = 1010, 69%). A betöltött 37. terhességi hét előtt 34 újszülött jött a világra (ebből 5 újszülött 35 hetes koraszülött volt). A császármetszések aránya 78% volt. A klinikán született újszülöttek 92%-át eseménytelen kórházi bent fekvést követően 2, illetve 3 nap után haza tudtuk engedni. A hazamenetel napján a kizárólagos anyatejes táplálásban részesülő újszülöttek aránya 71% volt (n = 1027). Újszülöttkori sárgaság miatt 85 újszülött részesült kékfény-kezelésben, mely a kórházi tartózkodást 1–2 nappal hosszabbította meg. A vizsgált időszakban összesen 12 újszülöttnél kezdtünk antibiotikumkezelést újszülöttkori szepszis gyanúja miatt, közülük 5 újszülött részesült komplett 5 napos antibiotikumterápiában. Újszülöttkori légzészavar miatt 32 esetben volt szükség az osztályon NCPAP- (nasalis folyamatos pozitív légúti nyomású) légzéstámogatás alkalmazására, ezek közül 15 alkalommal néhány órás kezelést követően sikeresen el tudtuk hagyni a légzéstámogatást, 17 esetben történt áthelyezés légzészavar miatt. Az 1461 újszülött közül összesen csupán 36 alkalommal (2,4%) volt szükség magasabb progresszivitási szintű intézménybe való áthelyezésre. Két újszülöttnek volt kisebb fejlődési rendellenessége (egy kamrai septumdefektus és egy hypospadiasis). Egyetlen újszülöttet sem veszítettünk el. Megbeszélés: A Maternity Szülészeti és Nőgyógyászati Magánklinika neonatológiai ellátási modellje a 21. századi követelményeknek megfelelően, a betegbiztonságot figyelembe véve, szakmai protokollok alapján működik. Biztosítja az újszülöttek és családok részére a háborítatlan, biztonságos környezetet az anya-újszülött kapcsolat kialakulásához és az anyatejes táplálás elindításához a szülést követő órákban és napokban. Orv Hetil. 2025; 166(17): 658–668.
Effective coordination between fiscal and monetary policy is crucial for macroeconomic stability, yet achieving it presents significant challenges due to differing objectives and institutional setups. This study evaluates the strategic interaction between fiscal and monetary authorities in Hungary from 2013 to 2023, employing the Nash equilibrium framework under the assumption of non-cooperative behavior. By modeling the authorities as independent players optimizing distinct payoff functions based on key economic indicators (interest rates, government spending, inflation, output gap, fiscal deficit, and public debt), the analysis estimates the best response strategies and computes the resulting Nash equilibrium. The key findings reveal persistent deviations between actual policies and the computed equilibrium strategies. Specifically, actual fiscal policy was consistently more expansionary (average actual deficit −2.6% to 7.6% GDP vs. equilibrium recommendations ranging from 8.5% surplus to −3.0% deficit) than the Nash equilibrium indicated, particularly during periods of economic growth. Monetary policy often lagged in equilibrium recommendations, maintaining low interest rates (e.g., 0.9% actual vs. 11.5% equilibrium in 2019) before implementing sharp increases (13% actual vs. approx. 3.5–3.8% equilibrium in 2022–2023) that significantly overshot the equilibrium. These misalignments underscore potential suboptimal outcomes arising from independent policymaking, contributing to increased public debt and heightened inflationary pressures in the Hungarian context. This study highlights the potential benefits of aligning policies closer to mutually consistent strategies, suggesting that improved coordination frameworks could enhance macroeconomic stability, offering insights relevant to Hungary and similar economies.
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1,223 members
Szilvia Nagy
  • Department of Telecommunications
László Varga
  • Faculty of Agricultural and Food Sciences
Majid Movahedi Rad
  • Department of Structural and Geotechnical Engineering
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Győr, Hungary