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The Impact of the Fisc on Macroeconomic Fluctuations in Bulgarian Economy

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  • Maria Neycheva

Abstract

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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  • Maria Neycheva, 2005. "The Impact of the Fisc on Macroeconomic Fluctuations in Bulgarian Economy," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 42-59.
    • Handle: RePEc:bas:econth:y:2005:i:3:p:42-59
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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