Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014)

IF 0.4 Q4 EDUCATION & EDUCATIONAL RESEARCH

European Journal of Comparative Economics Pub Date : 2016-11-01 DOI:10.25428/1824-2979/201702-197-219

Aleksandar Vasilev

引用次数: 39

Abstract

This paper focuses on explaining the economic fluctuations in Bulgaria after the introduction of the currency board arrangement in 1997, the period of macroeconomic stability that ensued, the EU accession, and the episode of the recent global financial crisis. This paper follows Chari et al. (2002) and performs business cycle accounting (BCA) for Bulgaria during the period 1999-2014. As in Cavalcanti (2007), who studies the Portuguese business cycles, most of the volatility in output per capita in Bulgaria over the period is due to variations in the efficiency and labor wedges.

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经济周期会计:引入货币发行局安排后的保加利亚(1999-2014)

本文的重点是解释保加利亚在1997年引入货币发行局安排后的经济波动，随后的宏观经济稳定时期，加入欧盟，以及最近全球金融危机的插曲。本文遵循Chari等人(2002)，并在1999-2014年期间对保加利亚进行商业周期会计(BCA)。正如卡瓦尔康蒂(2007)研究葡萄牙商业周期时指出的那样，保加利亚人均产出在这一时期的大部分波动是由于效率和劳动力楔子的变化。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

European Journal of Comparative Economics EDUCATION & EDUCATIONAL RESEARCH-

CiteScore

1.90

自引率

0.00%

发文量

审稿时长

52 weeks

期刊介绍： Several years have elapsed since the beginning of transition in Eastern Europe, and the profession has learnt a lot about the importance of institutions in the economy and our deep need for additional research on their influence on the interaction of the units that play the economic game. The study of economies that do not fit the paradigm of the competitive market, a field of enquiry that used to belong to the sideline of scientific enquiry, has been joined by leading scientists in the field, who were inspired by the new knowledge gained through the processes of transition and intrigued bthe policy problems posed by transformation of bureaucratically run socialist economies into capitalist market economies. The same institutional and social understanding is equally relevant to questions of conomic development, to the elimination of cleavages between North and South, and to the solution of problems of globalization.