FUTURE EURO AREA MEMBERSHIP OF BULGARIA IN TERMS OF THE BUSINESS CYCLE

Ivan Todorov, Aleksandar Aleksandrov and Kalina Durova
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Aleksandar Aleksandrov: Faculty of Economics, South-West University ‘N. Rilski
Kalina Durova: Faculty of Economics, South-West University ‘N. Rilski

Economic Archive, 2018, issue 4 Year 2018, 3-14

Abstract: In the present paper, vector autoregression (VAR) is used to assess the extent to which Bulgaria’s economic cycle is synchronized with the one of the euro area (EA). The main fiscal and monetary factors affecting the coordination of the business cycles of Bulgaria and the EA are identified. Recommendations for macroeconomic policies are formulated to support the synchronization of Bulgaria’s economic cycle with the one of the EA and to prepare our country for the adoption of the euro.

Keywords: Bulgaria; membership; euro area; business cycles; synchronization (search for similar items in EconPapers)
JEL-codes: E32 E42 E50 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:dat:earchi:y:2018:i:4:p:3-14

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