Jaroslav Husár

The ECB intervened against inflationary risks – the door is open

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According to Professor Jaroslav Husár, the European Central Bank did not just fall asleep with its reaction to inflation – it failed above all in its understanding. In his text, he explains why raising interest rates alone cannot replace thorough econometric modeling of inflationary processes, and recalls that he pointed out the risks of expansionary monetary policy years ago. Based on his own mathematical models, he concludes that without a deeper understanding of the relationship between the money supply, the price level and the real economy, monetary policy risks turning into improvisation rather than scientifically based economic management.

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EU countries struggle with debt

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European economies are once again struggling with high deficits and growing public debt. According to prof. According to J. Husár, it is not only a political failure, but a deeper methodological problem: the Maastricht debt criterion of sixty percent of GDP was set without sufficient respect for the dynamics of individual economies. Using two mathematical models, he shows that the relationship between debt and the performance of the economy cannot be bound by one flat number for all states.

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Are we following an economic trend?

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The Slovak government presented a package of measures to help the economy. However, it does not solve the essence of the problem: economic development, investment and the creation of new production capacities.

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