Research publications

Important findings of economic research are published in the NBS Working Papers (WP) series. The papers contribute to the professional discussions in relevant fields of monetary policy, fiscal policy, macroeconomic models, economic and monetary union, real convergence and financial stability. With the aim of addressing wider professional public new papers are primarily published in English. However, the full version is always accompanied by a non-technical summary in Slovak. Analysis and findings outside the scope of working papers are published occasionally (as Policy Paper - PP, Occasional Paper - OP or Discussion Paper - DP).

The most interesting results of the research are often published in professional and peer-reviewed scientific journals.

The research is usually conducted by Research Department staff, but contributions from other NBS departments or external co-authors are encouraged.

If you wish to be notified about new publications, please e-mail us at research[at]

Working Papers      ISSN 2585-9269
Occasional Papers ISSN 2585-9277

Year  2018

WP 3/2018 
Assessing Distributional Properties of Forecast Errors.
Marián Vávra

WP 2/2018 
Financial literacy gaps across countries: the role of individual characteristics and institutions.
Andrej Cupák
, Pirmin Fessler, Maria Silgoner, Elisabeth Ulbrich

WP 1/2018
Income distribution and economic growth; empirical results for Slovakia.
Juraj Zeman

Year  2017

WP 12/2017
Normality Tests for Dependent Data.

Zacharias Psaradakis, Marián Vávra

WP 11/2017
Do Fiscal Multipliers Vary with Different Character of Monetary-Fiscal Interactions?
Michal Benčík

WP 10/2017
Financial literacy and voluntary savings for retirement in Slovakia.

Zuzana Brokešová, Andrej Cupák, Gueorgui Kolev

WP 9/2017
How do firms adjust to rises in the minimum wage? Survey evidence
from Central and Eastern Europe.

Katalin Bodnár, Ludmila Fadejeva, Stefania Iordache, Liina Malk, Desislava Paskaleva, Jurga Pesliakaitė, Nataša Todorović Jemec, Peter Tóth, Robert Wyszyński

WP 8/2017
Asymmetric wage adjustment and employment in European firms

Petra Marotzke, Robert Anderton, Ana Bairrão, Clémence Berson, Peter Tóth

WP 7/2017
Networks of counterparties in the centrally cleared EU-wide interest
rate derivatives market

Paweł Fiedor, Sarah Lapschies, Lucia Országhová

WP 6/2017
Measuring the Efficiency of VAT reforms: Evidence from Slovakia
Andrej Cupák, Peter Tóth

WP 5/2017
Macroeconomic Impact of Basel III: Evidence from a Meta-Analysis

Jarko Fidrmuc, Ronja Lind

WP 4/2017   
On the effectiveness of Central Bank Intervention in the Foreign Exchange Market: The Case of Slovakia, 1999-2007

Biswajit Banerjee, Juraj Zeman, Ľudovít Ódor, William O. Riska Jr.

WP 3/2017   
Government Spending and the Term Strucutre of Interest Rates in DSGE Model
Aleš Maršál
, Lorant Kaszab, Roman Horváth

WP 2/2017
Market reading of Central Bankers' Words. A high Frequency evidence.
Pavel Gertler, Roman Horváth

WP 1/2017   
Did quantitative easing boost bank lending? The Slovak experience

Adriana Lojschova


Years  2016 - 2005

2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005

Years 2004 - 1996

Older outputs of the Institute of Monetary and Financial Studies (former research oriented department of NBS) in years 1996-2004 are available here: IMFS papers