This paper focuses on explaining the economic fluctuations in Bulgaria after the introduction of the currency board … financial crisis. This paper follows Chari et al. (2002) and performs business cycle accounting (BCA) for Bulgaria during the … capita in Bulgaria over the period is due to variations in the efficiency and labor wedges. …

In 1996/1997 Bulgaria was hit by a severe financial crisis, spreading from a banking crisis to a currency crisis … also show how Bulgaria managed to overcome the crisis by introducing a second generation currency board allowing the …

In this paper, an econometric model of consumption in Bulgaria for the period 1997-2005 is constructed. The Error … purpose of this empirical paper is to get a better understanding of the factors driving household consumption in Bulgaria and …