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Research Directorate

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Research at the Research Directorate

The objectives of the Research Directorate of the Magyar Nemzeti Bank are to carry out high quality research which is relevant on the long term for monetary policy making, and which is publishable in international academic journals. Hence the main requirement from the members of the Research Directorate is to publish in quality international journals. The Research Directorate aims to become an internationally recognized research group through its publications and contributions at international conferences and policy debates. This way the Research Directorate enhances the credibility and reputation of the MNB among policy makers and academic economists.

The Research Directorate also collaborates with researchers and analysts at the Monetary Strategy and Economic Analysis Department, the Financial Analysis Department and the Financial Stability Department to develop frontier tools, models and carry out high quality analysis to further the understanding of monetary policy, financial markets and the banking system in general and in Hungary. This way the Research Directorate contributes to the foundation of monetary policy decisions at the MNB.

The Directorate organizes an international workshop each year on subjects that are of interest to the MNB with participants both from the academic community and from other central banks. The Directorate also runs a seminar series, and has a visitor program. The Research Directorate activaly collaborates with the Economics Department of the Central European University and the Institute of Economics of the Hungarian Academy of Sciences.

The Research Directorate also runs the Budapest School for Central Bank Studies with Professor Fabio Canova as its programme director. The School, established by the MNB in 2008, offers intensive week-long courses to central bank and government economists in macroeconomics, monetary economics, international economics, banking and financial economics and quantitative and econometric methods. Its syllabus is specifically tailored to the needs of central banks and other policy institutions.