CEU Electronic Theses and Dissertations, 2015
| Author | Gyetvai, Attila |
|---|---|
| Title | The Output Effect of the Funding for Growth Scheme: Empirical Evidence Using the Hungarian Bank Lending Survey |
| Summary | In this thesis I measure the impact of the Central Bank of Hungary’s Funding for Growth Scheme (FGS) on output. I use a novel identification strategy that marries micro and macro level techniques: I create an indicator of credit supply using bank level responses in the Hungarian Bank Lending Survey, then use this indicator to put a supply side structure on a system of equilibrium aggregates. Comparing program and no-program scenarios, I find that the output effect of FGS is 0.4 percent until the end of 2013 and 0.2 percent until the end of 2014. These figures lie between previous findings: micro data based results imply a smaller effect while macro data based ones estimate it to be larger. |
| Supervisor | Lychagin, Sergey |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2015/gyetvai_attila.pdf |
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