Scholars

Zsolt Darvas

Zsolt Darvas

Senior Fellow

Expertise: Macroeconomics, international economics, central banking and time series analysis. CV: Download CV

Zsolt Darvas, a Hungarian citizen, joined Bruegel as a Visiting Fellow in September 2008 and continued his work at Bruegel as a Research Fellow from January 2009, before being appointed Senior Fellow from September 2013. He is also a Research Fellow at the Institute of Economics of the Hungarian Academy of Sciences and Associate Professor at the Corvinus University of Budapest.

From 2005 to 2008, he was the Research Advisor of the Argenta Financial Research Group in Budapest. Before that, he worked at the research unit of the Central Bank of Hungary (1994-2005) where he served as Deputy Head.

Zsolt holds a Ph.D. in Economics from Corvinus University of Budapest where he teaches courses in Econometrics but also at other institutions since 1994. His research interests include macroeconomics, international economics, central banking and time series analysis.

Declaration of interests 2012

Declaration of interests 2013

Declaration of interests 2014

Declaration of interests 2015

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Zsolt Darvas
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The Brexit bill: uncertainties in the estimate of EU pension and sickness insurance liabilities

Pension and sickness insurance liabilities for EU staff could be an especially contentious part of negotiations on an EU-UK financial settlement: the “Brexit bill”. This post looks behind the calculation of the alleged cost of pension benefits and concludes that it may be less than half of what it seems.

By: Zsolt Darvas, Konstantinos Efstathiou and Inês Goncalves Raposo Topic: European Macroeconomics & Governance Date: February 17, 2017
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The UK’s Brexit bill: could EU assets partially offset liabilities?

The ‘Brexit bill’ is likely to be one of the most contentious aspects of the upcoming negotiations. But estimates so far focus largely on the EU costs and liabilities that the UK will have to buy its way out of. What about the EU’s assets? The UK will surely get a share of those, and they could total €153.7bn.

By: Zsolt Darvas, Konstantinos Efstathiou and Inês Goncalves Raposo Topic: European Macroeconomics & Governance Date: February 14, 2017
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Zsolt Darvas

Questionable immigration claims in the Brexit white paper

The UK government's white paper on Brexit suggested that the EU's "free movement of people" has made it impossible to control immigration. This seems to rest on an assumption that EU citizens can "move and reside freely" in any member state. Zsolt Darvas finds these arguments problematic, and points out that it is difficult to infer public opinion about immigration from the referendum result.

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: February 8, 2017
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Parliamentary Testimony

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Brexit: UK-EU movement of people

On 18 January 2017 Zsolt Darvas appeared as a witness at the House of Lords Select Committee on the European Union, Home Affairs Sub-Committee.

By: Zsolt Darvas Topic: House of Lords, Parliamentary Testimonies Date: February 3, 2017
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Policy Contribution

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Why is it so hard to reach the EU’s ‘poverty’ target?

The ‘poverty’ target set by the European Commission aims to lift “over 20 million people out of poverty” between 2008 and 2020 in the EU27. Progress to date against this target has been disappointing. Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure?

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: January 19, 2017
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External Publication

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Analysis of developments in EU capital flows in the global context (3rd annual report)

The purpose of this report is to provide a comprehensive overview of capital movements in Europe in a global context.

By: Zsolt Darvas, Konstantinos Efstathiou, Pia Hüttl and Dirk Schoenmaker Topic: European Macroeconomics & Governance Date: January 10, 2017
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Explaining inequality

Is technological progress behind growing income inequality? No, according to Zsolt Darvas, who argues that redistribution and the regulation of certain professions were more important factors.

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: December 13, 2016
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External Publication

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EU economic governance: euro area periphery lessons for Central and Eastern European countries

An analysis of macroecnomic developments shows that Central and Eastern European (CEE) EU member states fared much better in the aftermath of the crisis compared to euro-area periphery countries. Furthermore, they have a better chance to avoid the problems that the euro-periphery countries faced before the crisis.

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: December 9, 2016
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Income inequality has been falling in the EU

The properly measured EU-wide Gini coefficient of disposable income inequality shows that inequality in the EU as whole declined in 1994-2008, after which it remained broadly stable. However, within the EU, there are large differences in income inequality which require policy action.

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: November 23, 2016
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Working Paper

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Reform of the European Union financial supervisory and regulatory architecture and its implications for Asia

This Working Paper reviews recent developments in the EU’s financial supervisory and regulatory architecture with a view to draw out lessons for regional financial regulatory architecture in Asia.

By: Zsolt Darvas, Dirk Schoenmaker and Nicolas Véron Topic: Finance & Financial Regulation, Global Economics & Governance Date: November 17, 2016
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