Zsolt Darvas headshot 2023

Zsolt Darvas

Senior fellow

Zsolt Darvas is a Senior Fellow at Bruegel and part-time Senior Research Fellow at the Corvinus University of Budapest. He joined Bruegel in 2008 as a Visiting Fellow, and became a Research Fellow in 2009 and a Senior Fellow in 2013.

From 2005 to 2008, he was the Research Advisor of the Argenta Financial Research Group in Budapest. Before that, he worked at the research unit of the Central Bank of Hungary (1994-2005) where he served as Deputy Head.

Zsolt holds a Ph.D. in Economics from Corvinus University of Budapest where he teaches courses in Econometrics but also at other institutions since 1994. His research interests include macroeconomics, international economics, central banking and time series analysis.

Disclosure of interests

Declaration of interests 2022

Declaration of interests 2021

Declaration of interests 2020

Declaration of interests 2019

Declaration of interests 2018

Declaration of interests 2017

Declaration of interests 2016

Declaration of interests 2015

Declaration of interests 2014

Declaration of interests 2013

Declaration of interests 2012

Featured work

Event

Bruegel Annual Meetings 2019

Bruegel's 2019 Annual Meetings will be held on 4-5 September and feature the launch of Bruegel's Memos to the New European Commission.

Article

Post-Brexit migration policy

On 27 February 2018 Zsolt Darvas testified at the Home Affairs Committee of the House of Commons. This inquiry explores the potential trade-offs betwe

Zsolt Darvas
Article

Brexit: EU budget

On 25 January 2017 Zsolt Darvas appeared as a witness at the House of Lords Select Committee on the European Union, Financial Affairs Sub-Committee.

Zsolt Darvas
Blog post

Explaining inequality

Is technological progress behind growing income inequality? No, according to Zsolt Darvas, who argues that redistribution and the regulation of certai

Zsolt Darvas
Blog post

Is Greek public debt unsustainable?

Greek public debt does not look sustainable if the country has to return to market borrowing at the end of the third bail-out programme, but could be

Zsolt Darvas and Pia Hüttl
Opinion piece

Waiting for G-Day

With a final decision on Greece fast approaching, what is the worst-case scenario: bailout or Grexit?

Zsolt Darvas
Blog post

Choices after the Greferendum

On Sunday, with a sizeable majority, the Greek people voted down the proposals of the country’s official lenders. What’s next? We see three main optio

Zsolt Darvas and Guntram B. Wolff
Blog post

Is Greece destined to grow?

There is much talk about the impasse between Greece and its official lenders in their bail-out negotiations, so I thought I would write about somethin

Zsolt Darvas
Blog post

Mind the gap (and its revision)!

In this post Zsolt Darvas presents an analysis of the revisions made to output gap estimates between 2001 and 2015 by the European Commission and the

Zsolt Darvas
Blog post

Will Greece run out of cash?

For many weeks now it has been regularly reported that Greece will run out of money if an agreement is not reached with the official lenders in the ne

Zsolt Darvas
Blog post

The maths behind an amended Greek plan

While Mr Mr Varoufakis’s plan was received coldly by euro-area partners, recent media reports suggest that a compromise is in the making. In this

Zsolt Darvas
Blog post

A major step towards a Greek compromise

Following a week of fright after the Greek elections, during which various statements by the new Greek government have raised the spectre of Grexit, F

Zsolt Darvas
Blog post

Greek choices after the elections

In the days ahead of the Greek snap elections on 25 January 2015 a huge range of opinions has appeared on what Greece and its lenders should do. One c

Zsolt Darvas
Blog post

Real exchange rates after the Swiss tsunami

The surprise abolition of the 1.2 Swiss franc/euro exchange rate floor by the Swiss National Bank sent shock waves to currency markets. The instant re

Zsolt Darvas
Blog post

How to reduce the Greek debt burden?

Since Greece achieved a primary surplus of 2.7 percent of GDP in 2014 (which is expected to increase further in 2015), and there are uncertainties rel

Zsolt Darvas and Pia Hüttl
Blog post

The convergence dream 25 years on

The 25th anniversary of the fall of the Berlin wall was widely celebrated – rightly so. The fall of communism opened the way for democracy, personal f

Zsolt Darvas
Blog post

Central bank rates deep in shadow

Measuring the impact of monetary policy on the economy at the zero lower bound is difficult. After 2008, central banks cut policy rates close to zero

Zsolt Darvas
Blog post

Money matters in the euro area

Would you be indifferent between holding cash in your wallet and holding a two-year maturity bond of a bank? If not, you should be interested in Divis

Zsolt Darvas
External publication

Austerity and Poverty in the European Union

This study provides to the Committee for Employment and Social Affairs of the European Parliament with an analysis of the speed and composition o

Zsolt Darvas, Alessio Terzi, Olga Tschekassin and Pia Hüttl