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Effects of fiscal policy and exchange rates on aggregate output in Bulgaria



Effects of fiscal policy and exchange rates on aggregate output in Bulgaria



Hsing, Yu
Krenn, Mario



College of Business, Southeastern Louisiana University, Hammond, LA 70402, USA
College of Business, Southeastern Louisiana University, Hammond, LA 70402, USA
Бібліографічний опис: Hsing Yu. Effects of fiscal policy and exchange rates on aggregate output in Bulgaria [Електронний ресурс] / Yu Hsing, Mario Krenn // Соціально-економічні проблеми і держава. — 2016. — Вип. 1 (14). — С. 11-17. — Режим доступу до журн.: http://sepd.tntu.edu.ua/images/stories/pdf/2016/16hyaoib.pdf.
Bibliographic description (International):  Hsing, Y., & Krenn, M. (2016). Effects of fiscal policy and exchange rates on aggregate output in Bulgaria. Socio-Economic Problems and the State. 14 (1), 11-17. doi:10.14254/2223-3822.2016.14-1.2
Issue:  1
Volume:  14

Дата публікації:

(Date of publication)

Submitted date:  February, 2016





JEL:  E62

Ключові слова:

(Key words)

government debt
exchange rates
oil prices
stock prices
inflation expectations

Діапазон сторінок:


Анотація (Abstract):  Based on a sample during 2000.Q4 – 2015.Q1, this paper finds that equilibrium aggregate output in Bulgaria is positively associated with the real effective exchange rate, the real oil price, the real stock price and three seasonal dummy variables and negatively affected by government debt as a percent of GDP, the real interest rate and the expected inflation rate. Therefore, a prudent fiscal policy, real currency appreciation, a lower real interest rate, a healthy stock market, and a lower inflation expectation would be conducive to economy growth.
URI:  http://elartu.tntu.edu.ua/handle/123456789/16845
ISSN:  2223-3822
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