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Business Cycle Accounting: Bulgaria after the Introduction of the Currency Board Arrangement (1999-2014)

Aleksandar Vasilev

Bulgarian Economic Papers (www.bep.bg) from St Kliment Ohridski University of Sofia, Faculty of Economics and Business Administration / Center for Economic Theories and Policies

Abstract: This paper focuses on explaining the economic uctuations in Bulgaria after the introduction of the currency board arrangement in 1997, the period of macroeconomic stability that ensued, the EU accession, and the episode of the recent global financial crisis. This paper follows Chari et al. (2002) and performs business cycle accounting (BCA) for Bulgaria during the period 1999-2014. As in Cavalcanti (2007), who studies the Portuguese business cycles, most of the volatility in output per capita in Bulgaria over the period is due to variations in the eciency and labor wedges.

Keywords: Business Cycle accounting; Bulgarian economy; eciency and labor wedges (search for similar items in EconPapers)
JEL-codes: E32 E37 O47 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-dge, nep-mac and nep-tra
Date: 2016-11, Revised 2016-11
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https://www.uni-sofia.bg/index.php/eng/content/dow ... file/BEP-2016-11.pdf First version, 2016 (application/pdf)

Related works:
Journal Article: Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014) (2017) Downloads
Journal Article: Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014) (2017) Downloads
Working Paper: Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014) (2016) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:sko:wpaper:bep-2016-11

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