Early-warning indicators ‘crucial' where imbalances don't cause inflation
Variable factors in CEE provide 'plausible' early-warning of inbalances
A combination of the global financial variable, the real exchange rate, capital flows and credit provides a "plausible" early-warning signal of macroeconomic imbalances in central and eastern European countries, according to a new working paper published by the Central Bank of Hungary.
In their paper, Early-warning indicators: financial and macroeconomic imbalances in Central and Eastern European countries, Orsolya Csortos and Zoltán Szalai argue that that finding such indicators is "crucial in the
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