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This paper studies the characteristics of financial cycles in Hungary. It applies existing methodology from the literature to Hungarian data to estimate a multivariate structural time-series model. The model allows for a joint examination of the behaviour of the Hungarian financial sector and the overall economy, and estimates their cyclical positions. According to the results of the estimation, the financial sector in Hungary seems to experience volatile cycles, which last more than 15 yearsdoi:10.25201/fer.17.4.522 fatcat:bb2zfldpsfepdftpxbsd6isfk4