Trimming the sails. The comparative political economy of expansionary fiscal consolidations. A Hungarian perspective

Provides a multidisciplinary and systematic analysis of the concept of fiscal consolidations. This book discusses the concept, suggesting that fiscal adjustment can be in trade-off with economic growth if certain conditions are met. Fiscal consolidation has significant short term costs which dampen economic growth. This widely shared consensus in literature on political economy makes fiscal adjustment highly unpopular. Benczes conducts a systematic analysis to find out whether it is possible to have fiscal consolidation and experience economic growth even in the short run.The book provides a clear, multidisciplinary and systematic analysis of the relatively new concept of the so-called expansionary fiscal consolidations. This concept suggests that fiscal adjustment can be in trade-off with economic growth if certain conditions are met. But why do only a few countries and only at certain times experience the expansionary effects, while others not at all? The necessary conditions and circumstances have been totally neglected in the literature, or analyzed only partially at best.Having evolved a theoretical framework, it is tested on a difficult case: Hungary, which has had the highest deficit in the European Union. The main question was whether Hungary has a chance to experience short term growth effects in times of adjustment. ----- Contents: List of Figures List of Tables Acknowledgements 1. Introduction Part One: A critical Assessment of the Concept of Non-Keynesian Effects 2. Stylized Facts of EU Countries’ Major Fiscal Episodes 3. An Expectational View of Fiscal Policy: A Non-Linear Approach to Fiscal Consolidation 4. The Composition of Adjustment and the Structure of Labor Markets: A Linear Approach to Fiscal Consolidation Part Two: Testing the Institutional Conditions of Non-Keynesian Effects in Hungary 5. From Goulash Communism To Neo-Kadarism: An Overview 6. Financial Intermediation in Hungary—a Comparative Perspective 7. The Structure of the Hungarian General Budget—a Decompositional Analysis 8. The Labor Market and Wage Bargaining in Hungary—the (Ir)relevance of a Social Pact 9. Conclusion References Appendices Index

Comparative analysis of the relationship between phenological phenomena and meteorological indicators based on insect and plant monitoring

Climate change is one of the biggest environmental problems of the 21st century. The most sensitive indicators of the effects of the climatic changes are phenological processes of the biota. The effects of climate change which were observed the earliest are the remarkable changes in the phenology (i.e. the timing of the phenophases) of the plants and animals, which have been systematically monitored later. In our research we searched for the answer: which meteorological factors show the strongest statistical relationships with phenological phenomena based on some chosen plant and insect species (in case of which large phenological databases are available). Our study was based on two large databases: one of them is the Lepidoptera database of the Hungarian Plant Protection and Forestry Light Trap Network, the other one is the Geophytes Phenology Database of the Botanical Garden of Eötvös Loránd University. In the case of butterflies, statistically defined phenological dates were determined based on the daily collection data, while in the case of plants, observation data on blooming were available. The same meteorological indicators were applied for both groups in our study. On the basis of the data series, analyses of correlation were carried out and a new indicator, the so-called G index was introduced, summing up the number of correlations which were found to be significant on the different levels of significance. In our present study we compare the significant meteorological factors and analyse the differences based on the correlation data on plants and butterflies. Data on butterflies are much more varied regarding the effectiveness of the meteorological factors.

Comparative efficacy and safety of biosimilar infliximab and other biological treatments in ankylosing spondylitis: systematic literature review and meta-analysis.

OBJECTIVES: To compare the efficacy and safety of infliximab-biosimilar with other biological drugs for the treatment of active ankylosing spondylitis (AS). METHODS: Systematic literature review for randomized controlled trials (RCTs) with adalimumab, etanercept, golimumab, infliximab and infliximab-biosimilar in AS was performed and indirect meta-analysis (Bayesian mixed treatment comparison) was carried out. The proportion of patients reaching 20 % improvement by the assessment of Spondyloarthritis International Society response criteria (ASAS20) at weeks 12 and 24 was used as efficacy endpoints, and the occurrence of serious adverse events at week 24 was applied to compare the safety of the biologicals. RESULTS: Altogether, 13 RCTs, identified by the systematic literature search, were included in the analysis. Results on the ASAS20 efficacy endpoint were reported for week 12 in 12 RCTs involving 2,395 patients, and for week 24 in 5 RCTs comprising 1,337 patients. All the five biological agents proved to be significantly superior to placebo. Infliximab showed the highest odds ratio (OR) of 7.2 (95 % CI 3.68-13.19) compared to placebo, followed by infliximab-biosimilar with OR 6.25 (95 % CI 2.55-13.14), both assessed at week 24. No significant difference was found between infliximab-biosimilar and other biological treatments regarding their efficacy and safety. CONCLUSIONS: This is the first study which includes a biosimilar drug in the meta-analysis of biological treatments in AS. The results have proven the similar efficacy and safety profile of infliximab-biosimilar treatment compared to other biologicals.