Anti-Crisis Macroeconomic Policy in the Conditions of COVID-19 in Bulgaria

Tsvetomir Tsvetkov and Sonya Georgieva ()

Economic Studies journal, 2021, issue 1, 107-130

Abstract: Any anti-crisis macroeconomic policy includes monetary and fiscal policy. The construction of anti-crisis macroeconomic policy in the conditions of a small open economy in a currency board and a virus pandemic raises the question of which measures should be the foundation and which measures should play a complementary macroeconomic role. This issue is extremely important because it predetermines both the efficiency and effectiveness of counter-cyclical policy. This study deals with the structuring of the main and complementary role of the fiscal and monetary policy in the general anti-crisis policy of Bulgaria. The focus is on 2020, looking at the impact of aggregate fiscal multiplier and monetary measures on GDP, based on extrapolation. A mathematical analysis is realized, which leads to quantitative results that illustrate the impact of fiscal and monetary policy on GDP development in a predictable short-term period which covers 2020 on a quarterly basis.

JEL-codes: E52 E6 E62 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.iki.bas.bg/Journals/EconomicStudies/2021/2021-1/6_S.Georgieva-2.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2021:i:1:p:107-130

Access Statistics for this article

More articles in Economic Studies journal from Bulgarian Academy of Sciences - Economic Research Institute Contact information at EDIRC.
Bibliographic data for series maintained by Diana Dimitrova ().