Economics of the new member states: A post-crisis perspective

This essay addresses four major issues confronting the Central and Eastern European new members of the European Union in the decade to come. First: what to think of the financial meltdown of 2008-2009. Second, what have they learned from the tremors, having shaken the previous star performers of the EU? Third we ask if we can expect a return to ‘normalcy' as forecast by most models of financial rating agencies and international financial institutions? Fourth the question is raised what did the new members benefit from their EU membership? Some conclusions on the future of EU reforms and policies close the overview.

Re-written by machine and new technology: Did the Internet kill the Video Star

The traditional way of understanding television content consumption and viewer reactions may be simply summarised: information about the program, viewing at airing time, and interpersonal discussion after the program. In our digital media environment due to crossmedia consumption and platform shifts, the actual trend in audiovisual, and traditionally television content consumption is changing, the viewer’s journey is different across contents and platforms. Content is becoming independent from the platform and the medium is increasingly in the hands of technologically empowered viewers. Our objective is to uncover how traditional content expressly manufactured for television (series, reality shows, sports) can now be consumed via other platforms, and how and to what extent audiovisual content consumption is complemented or replaced by other forms (text, audio). In our exploratory research we identify the typical patterns of interaction and synergies of consumption across classical media content. In this study we used a multimethodology qualitative research design with three research phases including focus groups, online content analysis, and viewers’ narratives. Overall, the Video Star stays alive, but has to deal with immediate reactions and has to change according to his or her audiences’ wishes

Implicit rating: A potential new method to alert crisis on the interbank lending market

A new measure called “implicit rating” is introduced which might be a component of an early warning system. The proposed methodology relies on the aggregation of experts’ knowledge hidden in the transactional data of the interbank market of unsecured loans. Banks are simultaneously assessing the creditworthiness of each other which is reflected in the partner limits and in the interest rates. In the Hungarian interbank market the overall trading volume and the average interest rate did not show any negative trends before the crisis of 2008, however the average implicit partner limit started to decrease several months earlier, hence it might serve as a stress indicator.