Nikolett Vágó

• Economist at Central Bank of Hungary

This study presents the detailed methodology of generating house price indices for the Hungarian market. The index family is an expansion of the Hungarian housing market statistics in several regards. The nationwide index is derived from a database starting from 1990, and thus the national index is regarded as the longest in comparison to the house...

Housing market is important from a macroprudential perspective because it has a strong effect on the banking sector. Changes in real estate prices may affect the level of bank risk through household mortgage lending, however, the literature has no clear conclusion on this impact mechanism. Using a bank-level database containing quarterly data from...

In banking practice, quantifying the probability of default is one of the most important elements of the lending decision, therefore it is also vital from a financial stability perspective. The aim of our research was to model the probability of default as precisely as possible in the case of micro, small and medium-sized enterprises. By linking th...

This paper analyses the fundamental determinants of the household borrowing decisions in Hungary and Poland, using the Euro Survey data conducted by the Austrian central bank. The previous researches, based on the Euro Survey, are supplemented and enhanced in several respects. It bears utmost importance that instead of using simple ad hoc methods t...