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• Issues of the Regulation of Residential Credits

  44-51

  Tamas Prugberger

  Zoltan Nagy

  Views:

  198

  The study focuses on the theoretical and practical issues of lending from the legal regulation point of view. After the 90’s the consumer social model was set up in Hungary, and it was linked to a fairly broad consumer credit activity. However, the regulation of lending was insufficient in many areas; consumer protection has hardly existed in the financial services market. Debtors were unprotected when facing the financial institutions, which concluded contracts not in their favour and restricted their rights. The economic crisis, and the great number of insolvent debtors, has emerged as a social problem for legislators, thus enabling them to amend lending rules and strengthen consumer protection in this area.

  JEL classification: K 30

• The Effect of Globalization on the Transmission of Monetary Policy

  161-178

  Balint Herczeg

  Views:

  130

  Investigating how globalization and the new technological environment which drives and supports the integration process affect the monetary transmission mechanism, I find that the transmission mechanism is affected at every step, in a way which makes this complex linkage between economy and monetary policy even more unpredictable, strengthening the interest rate and wealth affects but weakening the credit channel and the exchange rate channel, if foreign exchange rate loans or carry trades are significant.

  Journal of Economic Literature (JEL) Code: E44, E52, F42