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Assessment Of The Elasticity Of Republic Of Bulgaria’s Foreign Trade In Energy Resources By Means Of The Almon Model

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  • Lyubomir Lyubenov

    (Varna University of Economics)

Abstract

The article presents an assessment of the elasticity of Bulgaria’s foreign trade in energy resources against major macroeconomic variables. There are experimented models of distributed lags. There is determined the inelasticity of the import and export of energy resources from and to EU-15, as well as the lack of elasticity for the period under study with respect to GDP, the nominal and the real effective exchange rates. The strong influence of inflation, measured by means of CPI is also accounted for. The obtained estimates of elasticity reflect the impact of Bulgaria’s membership of the EU.

Suggested Citation

  • Lyubomir Lyubenov, 2013. "Assessment Of The Elasticity Of Republic Of Bulgaria’s Foreign Trade In Energy Resources By Means Of The Almon Model," Business & Management Compass, University of Economics Varna, issue 1, pages 53-61.
    • Handle: RePEc:vrn:journl:y:2013:i:1:p:53-61
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    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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