This study explores the effects of macroeconomic policies on measures of macroeconomic performance such as growth and inflation by setting up a dynamic post-Keynesian model with government and central bank interventions. In doing so, this study reconsiders the arguments in favor of a policy...

In July 2013, the Consumer Price Index (CPI) amounted to 0.8% (against 1.2% in July 2012), which is by 0.4 p.p. higher than its value recorded in June 2013. Over the period from 1 August through 26 August, the CPI rose by 0.1%. Thus, the inflation rate in per annum terms increased above 5.6%. In...

In September 2013, the Consumer Price Index (CPI) amounted to 0.2% (against 0.6% in September 2012), which is by 0.1 pp. higher than its value recorded in August 2013. Thus, the inflation rate in per annum terms, as seen by the results of the first 9 months of 2013, increased above 6.1%. Over...

The consumer price index stood at 0.5% in December 2013 (0.5% in December 2012), having declined 0.1 p.p. below the value observed in November 2013. As a result, inflation reached 6.5% at the end of the 12-month period. The consumer price index stood at 0.4% within the first 20 days in January...

The consumer price index stood at 0.6% in January 2014 (1.0% in January 2013), rising 0.1 p.p. above the value recorded in December 2013. Inflation reached 6.1% at the end of 12 months. The consumer price index stood at 0.5% within the first 17 days in February 2014. Net capital outflow from the...

To the best of our knowledge, our paper is the first systematic study of the predictive power of monetary aggregates for future inflation for the cross section of New EU Member States. This paper provides stylized facts on monetary versus non-monetary (economic and fiscal) determinants of...

This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China’s monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part...

We estimate two parsimonious structural models for inflation, the output gap, the domestic interest rate and the exchange rate for Hungary and Poland, for the period of "transition" (1991-1998). The empirical analysis shows that, at the aggregate level, the transmission of monetary policy...

Bulgarian Abstract: Разширяването на ЕС по посока на страните от централна и източна Европа включва също и перспективи за въвеждане на единната валута. Тъй като...