Specificities of the Monetary Transmission Mechanism within the Bulgarian Currency Board Framework: The first five years

Martin N. Pazardjiev () and Aleksandar Vasilev
Additional contact information
Martin N. Pazardjiev: Independent Researcher

Journal of Central Banking Theory and Practice, 2021, vol. 10, issue 2, 57-86

Abstract: This paper presents an overview of the channels of monetary transmission and their manifestation in Bulgaria – a country in a currency board arrangement – in the first five years after the introduction of the regime. The presence of such a mechanism of transmission requires some form of macroeconomic discretion. The latter is approximated here with dynamics in the single fiscal account present on the balance sheet of the currency board.

Keywords: monetary transmission; currency board; Bulgaria. (search for similar items in EconPapers)
JEL-codes: E42 E52 (search for similar items in EconPapers)
Date: 2021
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.cbcg.me/repec/cbk/journl/vol10no2-4.pdf (application/pdf)

Related works:
Working Paper: Specificities of the Monetary Transmission Mechanism within the Bulgarian Currency Board Framework: The first five years (2004)
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:cbk:journl:v:10:y:2021:i:2:p:57-86

Access Statistics for this article

More articles in Journal of Central Banking Theory and Practice from Central bank of Montenegro Contact information at EDIRC.
Bibliographic data for series maintained by ().