P-Star Model under the Currency Board – The Case of Bulgaria 1997-2008

Xenia Mihalicova (), Vladimír Gazda (), Matus Kubak () and Marek Grof ()
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Xenia Mihalicova: Technical University in Košice, Němcovej 32, 040 00 Košice
Marek Grof: Technical University in Košice, Němcovej 32, 040 00 Košice

Journal for Economic Forecasting, 2011, issue 3, 83-91

Abstract: The paper deals with the P-star model in conditions of the Bulgarian economy operating under the currency board regime. The research period covers 11 years of stabilisation after the Bulgarian 1996/97 financial crisis. Our findings are twofold. First, the significant influence of the German inflation was detected as a result of anchoring the Bulgarian Lev. Second, the domestic price gap influence is showed to be statistically insignificant.

Keywords: P-star model; Bulgaria; inflation; price gap (search for similar items in EconPapers)
JEL-codes: E31 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2011:i:3:p:83-91

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