Specificities of the Monetary Transmission Mechanism within the Bulgarian Currency Board Framework: The first five years

Pazardjiev, Martin N. and Vasilev, Aleksandar Z. (2021) Specificities of the Monetary Transmission Mechanism within the Bulgarian Currency Board Framework: The first five years. Journal of Central Banking Theory and Practice, 10 (2). pp. 57-86. ISSN 2336-9205

Full content URL: https://doi.org/10.2478/jcbtp-2021-0014

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Specificities of the Monetary Transmission Mechanism within the Bulgarian Currency Board Framework: The first five years
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Abstract

This paper presents an overview of the channels of monetary transmission and their manifestation in Bulgaria – a country in a currency board arrangement – in the first five years after the introduction of the regime. The presence of such a mechanism of transmission requires some form of macroeconomic discretion. The latter is approximated here with dynamics in the single fiscal ac-count present on the balance sheet of the currency board.

Keywords:monetary transmission, currency board, Bulgaria
Subjects:L Social studies > L130 Macroeconomics
Divisions:Lincoln International Business School
ID Code:46884
Deposited On:12 Oct 2021 10:53

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