Research papers

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 2021

WP 5/2021
Determinants of labour market flows in Slovakia
Ján Klacso, Eva Štulrajterová

OP 3/2021
Analysis of the Impact of Borrower-Based Measures
Martin Cesnak, Ján Klacso, Roman Vasiľ

WP 4/2021
Wealth, Assets and Life Satisfaction: A Metadata Instrumental-Variable Approach
Zuzana Brokešová, Andrej Cupák, Anthony Lepinteur, Marian Rizov

WP 3/2021
Assessing real estate prices in Slovakia - a structural approach
Martin Cesnak, Ján Klacso

WP 2/2021
United in diversity: Labor markets in the CEE countries
Michal Benčík

OP 2/2021
Fates of indebted households during the Corona crisis: Survey results from Slovakia
Martin Cesnak, Andrej Cupák, Ján Klacso, Martin Šuster

WP 1/2021
Structural and cyclical drivers of unemployment rate
Alexander Karšay

OP 1/2021
The Motor Vehicles Industry in Slovakia, 2005-2015
Biswajit Banerjee, Juraj Zeman

Year 2020

WP 7/2020
On Using Triples to Assess Symmetry Under Weak Dependence
Zacharias Psaradakis, Marián Vávra

WP 6/2020
Surveying the Impact of the Covid-19 Recession on the Financial Situation of Indebted Households
Andrej Cupák, Ján Klacso, Martin Šuster

WP 5/2020
Fifty Shades of QE: Conflicts of Interest in Economic Research
Brian Fabo, Martina Jančoková, Elisabeth Kempf, Ľuboš Pástor

WP 4/2020
Confidence, financial literacy and investment in risky assets: Evidence from the Survey of Consumer Finances 
Andrej Cupák, Pirmin Fessler, Joanne W. Hsu, Piotr R. Paradowski

WP 3/2020
R-star in transition economies: Evidence from Slovakia
Patrik Kupkovič

WP 2/2020
Identifying the Financial Cycle in Slovakia
Patrik Kupkovič, Martin Šuster

WP 1/2020
Determinants of Global Value Chain Participation: Cross-country Analysis
Biswajit Banerjee, Juraj Zeman


Years  2020 - 2005

2020 2019 2018 2017 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