Competitiveness and Economic Stimulus. New Dimensions and Instruments of Monetary Policy

The revolution in economic and fiscal policy that has been brought about since 2010 and the revolution in monetary policy implemented since 2013 have provided reasonable grounds for strengthening the regional competitive position of Hungary. The business climate in Hungary has changed for the better, a tendency which was indisputably triggered by the innovative and effective role undertaken by the state. The efficient role of the state was embodied in its concept innovation, meaning a changed viewpoint at the root and branch level of economic policy. From a monetary aspect, the state’s contribution to economic productivity and a monetary policy that builds on unconventional instruments to provide a long-term stimulus to the economy have proven its commitment to economic development using innovative methods in line with an economic policy that establishes a goal structure with new criteria and a new composition. This study focuses on monetary policy and analyses the effects of the successful measures and innovative methods which have enhanced competitiveness and stimulated the economy

Introducing heterogeneous users and vehicles into models and algorithms for the dial-a-ride problem

AbstractDial-a-ride problems deal with the transportation of people between pickup and delivery locations. Given the fact that people are subject to transportation, constraints related to quality of service are usually present, such as time windows and maximum user ride time limits. In many real world applications, different types of users exist. In the field of patient and disabled people transportation, up to four different transportation modes can be distinguished. In this article we consider staff seats, patient seats, stretchers and wheelchair places. Furthermore, most companies involved in the transportation of the disabled or ill dispose of different types of vehicles. We introduce both aspects into state-of-the-art formulations and branch-and-cut algorithms for the standard dial-a-ride problem. Also a recent metaheuristic method is adapted to this new problem. In addition, a further service quality related issue is analyzed: vehicle waiting time with passengers aboard. Instances with up to 40 requests are solved to optimality. High quality solutions are obtained with the heuristic method

Importance of d-p Coulomb interaction for high TC_C cuprates and other oxides

Current theoretical studies of electronic correlations in transition metal oxides typically only account for the local repulsion between d-electrons even if oxygen ligand p-states are an explicit part of the effective Hamiltonian. Interatomic interactions such as Upd between d- and (ligand) p-electrons, as well as the local interaction between p-electrons, are neglected. Often, the relative d-p orbital splitting has to be adjusted "ad hoc" on the basis of the experimental evidence. By applying the merger of local density approximation and dynamical mean field theory (LDA+DMFT) to the prototypical case of the 3-band Emery dp model for the cuprates, we demonstrate that, without any "ad hoc" adjustment of the orbital splitting, the charge transfer insulating state is stabilized by the interatomic interaction Upd. Our study hence shows how to improve realistic material calculations that explicitly include the p-orbitals.Comment: 17 pages, 6 figures, our study shows that U_pd is the physics behind previous ad-hoc shifts of the d-p level splittin

Interest Representation, Interest Alignment and the Role of Seeking Consensus in the Renewal Process of Hungarian State Management

The interest representation of owners, employee participation and endeavours to achieve consensus can be identified as the operational factor of well-managed publicly owned companies in the renewal process of state management. Higher quality expectations that appear to arise in respect of public services and the higher quality standard expected of public sector employees in the course of the performance of their duties all point in the direction of achieving a well-functioning state. This study focuses on representing the interest of the state as an owner, the changes in the institutional system of interest alignment and the search for consensus, the development that has materialised over the past decades, its alternatives arising from the regulatory environment and the attitudes and motivations of economic actors affected by the trend in the Hungarian economic environment. The analysis highlights the balancing role of the state, which is becoming more prominent