This research studies the influence of the Balassa-Samuelson effect on Bulgarian inflation and the real appreciation of BGN in relation to main trade partners currencies. According to the results obtained, the Balassa-Samuelson hypothesis stands for the Bulgarian economy. The higher rate of...

The objective of this paper is to check if the exchange rate in newly emerged, relatively thin foreign exchange markets, follows a random walk pattern. The findings of the current study cast doubts on random walk presence in Bulgarian exchange rates against major international currencies. It...

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...

The study presents a dynamic model of inflation. The state-owned enterprises behaviour during the process of transition to a market economy has been thoroughly investigated. The model is based on the statistical data for Bulgarian economy, but its more general analytical framework allows its...

This paper presents strong empirical evidence that automatic stabilizers and countercyclical fiscal policy decrease output volatility. The conducted empirical analysis proves the economic intuition that the automatic fiscal stance is countercyclical, regardless of the size and the prosperity of...

В представеното изследване се извежда динамичен модел на инфлация. Поведението на държавните предприятия в условията на преход е предмет на задълбочени...

Изследването отразява значението на конкуренцията като фактор за ограничаване на инфлацията, като има за цел да определи границите на въздействие на фиксирания...

Целта на това изследване е приложението на коинтеграционния анализ. В първияраздел е направен опит за съставяне на модел, който да обясни динамиката на...

This paper promotes competition as an anti-inflationary factor, aiming to estimate the fixed exchange rate effect on the overall price level under free trade regime versus protectionism. Domestic and external competition impacts have been examined separately. The disadvantages of protecting...

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...