Specificities of the monetary transmission mechanism within the Bulgarian currency board framework: The first five years

This paper presents an overview of the channels of monetary transmission and their manifestation in Bulgaria - a country in a currency board arrangement - in the first five years after the introduction of the regime. The presence of such a mechanism of transmission requires some form of macroeconomic discretion. The latter is approximated here with dynamics in the single fiscal account present on the balance sheet of the currency board.

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Year of publication:	2021
Authors:	Pazardjiev, Martin N. ; Vasilev, Aleksandar Z.
Published in:	Journal of Central Banking Theory and Practice. - ISSN 2336-9205. - Vol. 10.2021, 2, p. 57-86
Publisher:	Warsaw : Sciendo
Subject:	monetary transmission \| currency board \| Bulgaria

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.2478/jcbtp-2021-0014 [DOI] 1761464477 [GVK]
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	EconStor

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014558510