Business Cycle Accounting: Bulgaria after the Introduction of the Currency Board Arrangement (1999-2014)

Aleksandar Vasilev

Bulgarian Economic Papers from Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski

Abstract: This paper focuses on explaining the economic uctuations 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 eciency and labor wedges.

Keywords: Business Cycle accounting; Bulgarian economy; eciency and labor wedges (search for similar items in EconPapers)
JEL-codes: E32 E37 O47 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2016-11, Revised 2016-11
New Economics Papers: this item is included in nep-bec, nep-dge, nep-mac and nep-tra
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Citations: View citations in EconPapers (5)

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https://www.uni-sofia.bg/index.php/eng/content/dow ... file/BEP-2016-11.pdf First version, 2016 (application/pdf)

Related works:
Journal Article: Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014) (2017)
Journal Article: Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014) (2017)
Working Paper: Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014) (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:sko:wpaper:bep-2016-11

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