Minea, Alexandru; Rault, Christophe - 2021
better (with respect to other CEEC) monetary integration of Bulgaria with the European Monetary Union (EMU). Since Bulgarian … monetary variables are endogenous under a CB, we focus on the ECB and FED interest rates as the main sources on monetary … volatility. First, we find that ECB shocks are more rapidly absorbed and have less significant impact of domestic variables, with …