PERSONAL SITE OF
ADAM CZELLENG
Thinker. Researcher. Teacher.
Experienced Economist with a demonstrated history of working in the consulting industry.
ABOUT ME
Currently, I am working as an associate professor at the Budapest Business School.
I have three years of experience working in investment banking also worked for six years at the most-cited think tank in the CEE region. As a research manager, I mainly covered projects related to banking, finance or economic modelling. I have consulted numerous companies and institutions on macroeconomic and data modelling.
Between 2020 and 2022, I headed up the Research and Analysis Team at the Hungarian Tourism Agency to implement data driven sector management in tourism.
I hold a PhD degree in economics. As an expert I shared my knowledge on podcasts, studies and conferences. I have been actively participating in the Sustainable Growth working group of the Hungarian Academy of Sciences.
RECENT PUBLICATIONS
Research and Articles
CZELLENG - LOSONCZ [2020]:
MACROECONOMIC EFFECTS OF INCOME INEQUALITIES IN A SIMULATION APPROACH
The emergence and increase in income inequalities are inevitable and sometimes usefully inherent elements in the functioning of market economies. The paper analyses the macroeconomic effects of inequalities in a macroeconomic model defined by heterogenous agents and run with Monte-Carlo simulation. The simulations prepared by the model revealed the macroeconomic impacts of inequality and rationality in terms of financial culture in the context of economic growth and stability. The conclusions are: (1) Growing inequality dampens the rate of GDP growth. (2) Losses in consumption and in the value added of the economy in general that emanate from income inequalities are lower if the rate of GDP growth is permanently higher. (3) With diminishing income inequalities, volatility of consumption decreases, so that the volatility and cyclic nature of economic growth slacken as well. (4) Rationalization of expectations (more precise expectations of households) progress in the development of financial culture and are indispensable preconditions to reaching a sustainable level of potential output. The report amends research results released in relevant international literature by adding a new approach and new aspects to analysing the macroeconomic effects of income inequality. The report discusses the mutuality between inequality, economic growth and volatility cycles.
RESEARCH
In my academic research, I focus on current economic issues and topics (e.g. monetary policy challenges, long term impact of macroprudential policies, cryptocurrencies, economic impact of demographic changes and income inequality). In my analysis, I am keen on applying the most up-to-date methods and measures.
