Zsolt Darvas, a Hungarian citizen, joined Bruegel as a Visiting Fellow in September 2008 and continued his work at Bruegel as a Research Fellow from January 2009, before being appointed Senior Fellow from September 2013. He is also a Senior Research Fellow at the Corvinus University of Budapest.
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.
Disclaimer of external interests
This paper focuses on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.
A symphony in progress: shaping a new agenda for Europe
Annual Conference of the Future of Work and Inclusive Growth project
The proposed new fiscal rules constitute a major improvement from the current fiscal framework but missed an opportunity to foster green investment.
Since 2020, the European Union has suffered two large shocks, which have created new fiscal challenges for the EU.
The rules and guidance underpinning EU economic recovery funds seek inputs and outputs, not results; this has led to uneven use of results indicators
Given the need to reduce large budget deficits, what are some strategies for increasing public climate spending?
Despite calls for interest rate hikes to be paused, both the ECB and Federal raised rates- which was the right decision.
There is a negative correlation between collective bargaining coverage and inequality, but more research is needed to understand why.
The US economy was more resilient against the two recent global crises, while the EU did better in terms of jobs during and after the pandemic.
This study draws out lessons for the future of the EU economic governance framework from certain aspects of the RRF design.
Invitation-only event with Joseph Gagnon, who will discuss the link between employment and inflation and its implications for macroeconomic policy.
In 2023 we might see positive economic surprises in Europe: better-than-expected growth and lower-than-expected inflation.
The direct aim of trade sanctions seems to have been achieved, while Russia’s capacity to finance the war from fossil fuel revenues is bound to shrink
Presented as a new departure in EU policy-making, the EU’s Recovery and Resilience Facility (RRF) is now in its second year of implementation.
What factors contribute to inequalities on both sides of the Atlantic, and how should policymakers address them?
Low-skill workers have seen faster wage growth than high-skill workers in many EU countries, contrary to the United States.
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A paper assessing the ECB policy errors that occurred in the last year, and the appropriateness of the current monetary policy stance of the ECB.
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The Annual Meetings are Bruegel's flagship event which gathers high-level speakers to discuss the economic topics that affect Europe and the world.
How can the public sector meet the climate funding needs of the EU?
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Crucial decisions about whether a country can join the euro area depend on questionable discretionary decisions.
Hosting Ukrainian refugees could cost European Union countries in excess of €40 billion this year. A dedicated EU fund is needed to manage the burden.
In-depth analysis on the banking supervision cooperation in Bulgaria and Croatia prepared for the European Parliament's Committee on Economic and Mone
The EU’s ambitious emissions reduction targets will require a major increase in green investments. This column considers options for increasing public
This Microprod policy conference discussed how productivity is affected by globalisation and digitisation.
Adjustments to growth forecasts mean some countries will get 10% more than expected and others 20% less in grants from the EU Recovery and Resilience
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How can the European Green Deal be implemented beyond Brussels?
What are the possibilities for shaping the new fiscal policy?
The ECB’s preferred method to include owner-occupied housing services in the inflation indicator would involve an asset price.
Testimony to the Monetary Dialogue Preparatory Meeting of the European Parliament's Committee on Economic and Monetary Affairs (ECON).
In-depth analysis on the European Central Bank's revised inflation target prepared for the European Parliament's Committee on Economic and Monetary Af
Testimony before the European Parliament’s Committee for Budgetary Control (CONT) on the topic "Capacity for proper expenditure controls of the increa
A fiscal exit strategy must be put in place when the EU is pursuing the major goal of cutting its emissions
Bruegel Annual Meetings, Day 2 - A discussion of the largest national recovery plan.
The 2021 Annual Meetings gathered high-level speakers and participants to discuss how to recover from the crises brought on by the Covid pandemic
The recovery facility will boost digital transformation, but questions remain whether it will be sufficient to achieve Europe’s digital ambitions.
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How can new EU funds supplement national digital and green funding and EU funds from the standard seven-year EU budget to accelerate digitalisation?
Policymakers must act to prevent lasting divergence within the EU and to prevent scarring from the fallout from the pandemic.
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What has the impact of the pandemic on households’ financial resilience been, and how should policy makers respond?
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A new approach, which estimates 'unexplained economic growth', provides insights into the types of European Union cohesion projects that produce bette
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The 2020 pandemic economic shock has led to reassessment of fiscal policy measures in 2018 and earlier, because of faulty measurement of unobserved ou
What new innovative tools can we use to measure real-time economic and social risk?
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Testimony before the European Parliament on the subject of euro area accession.
Testimony before the European Parliament on the subject of EU fiscal policies.
How much cake does everyone actually get and at what speed?
European Union countries can reduce inequality of opportunity through public spending and tax decisions. Broadly, the most effective approach includes
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Because of hurdles in designing, approving and implementing European Union programmes, less than a quarter of the €438 billion in grants planned under
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The gap between payments into the EU budget and EU spending in a particular country has importance when EU spending does not constitute European publi
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How can increased access to finance benefit SMEs? What reforms are needed to encourage SME financial inclusion?