Effects of fiscal policy and exchange rates on aggregate output in Bulgaria

@inproceedings{Hsing2016EffectsOF,
  title={Effects of fiscal policy and exchange rates on aggregate output in Bulgaria},
  author={Y. Hsing and Mario Krenn},
  year={2016}
}
Based on a sample during 2000.Q4 – 2015.Q1, this paper finds that equilibrium aggregate output in Bulgaria is positively associated with the real effective exchange rate, the real oil price, the real stock price and three seasonal dummy variables and negatively affected by government debt as a percent of GDP, the real interest rate and the expected inflation rate. Therefore, a prudent fiscal policy, real currency appreciation, a lower real interest rate, a healthy stock market, and a lower… Expand
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