The Impact of the Fisc on Macroeconomic Fluctuations in Bulgarian Economy
The role of discretionary fiscal policy and automatic budget stabilisers on macroeconomic fluctuations in the Bulgarian economy during the last ten years is analysed. Descriptive and econometric analyses based on aggregate components of the consolidated state budget are presented. Discretionary changes are evaluated through the dynamics of the primary structural budget balance. Results confirm conclusions in the empirical literature concerning the pro-cyclic role of governmental expenditures in transition and developing economies.
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Volume (Year): (2005)
Issue (Month): 3 ()
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