MACROECONOMIC IMBALANCES AND THE RESPONSE OF ECONOMIC POLICIES TO THE EFFECTS OF THE INTERNATIONAL ECONOMIC CRISIS IN THE NEW MEMBER STATES

Bogdan Muraraşu () and Nicoleta Ciurila

Theoretical and Applied Economics, 2009, vol. 12(541)(supplement), issue 12(541)(supplement), 337-344

Abstract: The macroeconomic developments of the New Member States, in the context of the international financial and economic crisis during the years 2008 and 2009, were characterized by heterogeneity and were accompanied by distinct monetary and fiscal policy measures. The different impact of the international crisis on these economies can be attributed to a series of diverse factors such as the cyclical position of the economy at the onset of the crisis, the structure of the commercial flows, the external financial dependency or the different contribution of the economic sectors to the formation of gross value added.

Keywords: economic crisis; macroeconomic policy mix; univariate filters; business cycle; monetary policy regime. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:337-344

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