This paper describes the model of the Bulgarian economy designed, formulated and constructed within the Bulgarian Agency for Economic Analysis and Forecasting. The model is an annual model, although some of the parameters are estimated on the basis of quarterly information. Its main feature is...

The Bulgarian blueprint of the economic reform rests on a special clear-cut disposition of its parts. It has been two years now since the stabilisation programme has been put in effect and is still lacking in an inbuilt structural reform and privatization steps. Structural measures have reached...

Economic models can be extremely useful in the process of economic policy making. At the same time it should be emphasised that economic models should never be seen as a panacea for solving all kinds of economic problems. This paper discusses to what extent economic models could act as a useful...

The main purpose of this paper is to be of assistance in understanding the working of the AEAF model. To this end we will explain in section 2 how in the simulations levels and percentages changes are treated as well as the important difference between stocks and flows. Section 3 deals with the...

Direct investment in the country is an international investment, in which the direct investor, resident of a foreign economy, acquires a lasting interest (at least 10 % of the equity) in an enterprise resident of the Bulgarian economy (direct investment enterprise). There are two main cases of...

The first half of 1990 marked the appearance of open unemployment in the Bulgarian economy as a result of the inability of the government budget to finance the artificially sustained level of over-employment. The output decline and the shrinking labour market are the kea factors for the high...