Monetáris hatásosság közösségi szinten (The community level efficiency of monetary policy)

A monetáris integráció központi szereplője a Közösség jegybankja. A közös valuta értékállóságának közvetlenül fő meghatározója a jegybank. Mozgásterét azonban több tényező alakítja. E tanulmány az intézményi és stratégiai, a tagállami (decentralizált fiskális) és a pénzpiaci környezet függvényében vizsgálja az Európai Központi Bank (ECB) lehetőségeit és monetáris politikájának hatásosságát. / === / The efficiency of the European Economic and Monetary Union is a big dilemma of European applied economics. The first part introduces the monetary policy made by ECB. Rates and objectives are the framework of efficiency analysis. The second part details the common pool resource problem in the community of EMU countries, and describes the prisoner's dilemma of indebting in a currency community. The EMU practice shows free riding behavior of many member states what generally causes higher default risks. The increasing indebtedness shows dysfunction too, as the ECB must adjust the interest rate to the higher default risk which means cost premiums for fiscally disciplined countries as well. The third part analyses the efficiency of the ECB through the standards of monetary transmission. The updated criteria can explain any success or failure of the ECB in a not perfectly homogeneous community. The measures of transmission used in the study are the way of financing (banks vs. market), terms of financing, structure of the banking sector, private sector indebtedness, structure of savings and wealth, price elasticity, interest rate elasticity, wage elasticity. They show that the single monetary policy can create tension in the community not only because of the fiscal differences but also due to money market discrepancies.

Seasonal change of oribatid mite communities (Acari, Oribatida) in three different types of microhabitats in an oak forest

Oribatid mites are one of the most abundant groups of the ground-dwelling mesofauna. They can be found in almost every terrestrial habitat all over the world and they are characterized by great species richness and great number of individuals. In spite of that not enough is known about their behaviour on community level and their spatial and temporal pattern in different habitats of the world. In our present study the seasonal behaviour of oribatid mite communities was analysed in three types of microhabitats in a temperate deciduous forest: in leaf litter, soil and moss. Samples were collected at a given site in a year and a half and the oribatid mite communities living there were studied on genus level along with the changes of meteorological factors characteristic of the area. The results show that corresponding to similar previous researches, the communities in our study do not have a seasonally changing, returning pattern either. Based on this, we can conclude that climatic differences and differences in other seasonally changing factors between the seasons do not have a significant role in the annual change of communities. Besides that we discovered that the communities of the three microhabitats are not completely the same. It is the oribatid mite community of the moss which differs mostly from communities in the leaf litter and in the soil. Our study calls attention among others to the fact that compositional changes of the oribatid mite communities living all over the world and their causes are unclear to date.