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Aggregate Demand and Macroeconomic Dynamics in the EU: A Comparative Analysis of Old and New Member States

Author

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  • Nikolay Velichkov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The paper looks at the macroeconomic dynamics in old and new EU Member States interpreted in light of the changes in the ag­gregate demand. The focus is on examining changes in individual components of aggregate demand over time, their relative importance, and their contribution to real GDP growth rates. This reveals the distinct features of old and new EU Member States in terms of the cost dependence of GDP growth and the resulting macroeconomic consequences.

Suggested Citation

  • Nikolay Velichkov, 2020. "Aggregate Demand and Macroeconomic Dynamics in the EU: A Comparative Analysis of Old and New Member States," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 62-72, September.
    • Handle: RePEc:nwe:iisabg:y:2020:i:3:p:62-72
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    More about this item

    Keywords

    aggregate demand; economic growth; European Union;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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