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

Martin N. Pazardjiev and Aleksandar Vasilev

EconStor Research Reports from ZBW - Leibniz Information Centre for Economics

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 account present on the balance sheet of the currency board.

Keywords: monetary transmission; currency board; Bulgaria (search for similar items in EconPapers)
Date: 2004-01
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Journal Article: Specificities of the Monetary Transmission Mechanism within the Bulgarian Currency Board Framework: The first five years (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:esrepo:140616

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