FUTURE EURO AREA MEMBERSHIP OF BULGARIA IN TERMS OF THE BUSINESS CYCLE

Authors

Keywords
Bulgaria, membership, euro area, business cycles, synchronization.

Summary
In the present paper, vector autoregression (VAR) is used to assess the extent to which Bulgarias economic cycle is synchronized with the one of the euro area (EA). The main fiscal and monetary factors affecting the coordination of the business cycles of Bulgaria and the EA are identified. Recommendations for macroeconomic policies are formulated to support the synchronization of Bulgarias economic cycle with the one of the EA and to prepare our country for the adoption of the euro.

JEL: E32, E42, E50
Pages: 12
Price: 2 Points

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