SELECTIVE CREDIT CONTROLS AND THE MONEY SUPPLY PROCESS IN TRANSITIONAL ECONOMIES: THE CASE OF BULGARIA
Plamen Yossifov Additional contact information Plamen Yossifov: Ph.D. Student in Economics, University of Delaware
Authors registered in the RePEc Author Service: Пламен Йосифов ()
Abstract:
This paper develops an unified framework for analyzing the influence of both direct and indirect instruments of monetary control on the money supply process. The resulting formal model is then applied in the empirical evaluation of the effectiveness of credit ceilings in limiting the growth of domestic monetary aggregates in Bulgaria.