01664cas a2200241 a 4500 AALejournalIMF013473 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484310212 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Hungary : Selected Issues Paper. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (52 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Non-performing loans (NPLs) were found to respond to macroeconomic conditions, such as GDP growth, unemployment, and inflation; there are also strong feedback effects from the banking system to the real economy. This suggests that the high NPLs that many CESEE countries currently face adversely affect the pace of economic recovery. The note also evaluates different policy options to achieve permanent fiscal consolidation in Hungary. A fiscal consolidation based on a reduction in government transfers can stimulate labor participation, and a resulting increase in the returns to capital can increase investment and output in the long term. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2013/086 Full text available on IMF http://elibrary.imf.org/view/journals/002/2013/086/002.2013.issue-086-en.xml IMF e-Library