Theoretical and Applied Economics
No. 4 / 2012 (569)
Effects of the Trilemma Policies on Inflation, Growth and Volatility in Bulgaria
Yu HSING
Southeastern Louisiana University, USA
Southeastern Louisiana University, USA
Abstract. This paper finds evidence of the trilemma for Bulgaria, suggesting that exchange rate stability, monetary independence and free capital mobility are binding and constrained. The policy combination of exchange rate stability and monetary independence has been prevalent. More exchange rate stability increases the growth rate of real GDP whereas more monetary independence or free capital mobility reduces the growth rate. The inflation rate, inflation volatility and output volatility are not affected by either one of the three trilemma policies.
Keywords: impossible trinity; three trilemma policies; inflation; economic growth; volatility.
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Contents
Marin Dinu
- Study Regarding Fiscal Policy – Corporative Social Responsibility Correlation
Georgeta VINTILĂ
Ștefan Daniel ARMEANU
Maria-Oana FILIPESCU
Maricica MOSCALU
Paula LAZĂR
- Investment Activities of Businesses
and the Use of European Financial Support
in the Czech Republic at the Time of Crisis
Dagmar ČÁMSKÁ
Jiří KLEČKA
- Organisational Behaviour Influence Elements in the New Economic Paradigm
Laura-Maria DINDIRE
- Non Security – Premise of Cybercrime
Ion IVAN
Daniel MILODIN
Cătălin SBORA
- The Economic Crisis and Working Capital
Management of Companies
Hana SCHOLLEOVA
- Contributions to the Substantiation of the National,
Original and Coherent Strategy of Interruption
of the Involution of Romania’s Agriculture
Gabriela MOLĂNESCU
- The Swedish Model in Employment.
Post-Crisis Solutions
Mirela Ionela ACELEANU
- Optimizing Human Resource Management
within Companies Experiencing Accelerated Growth,
in an Unstable Economy
Mircea Alexandru DINU
Dumitru-Alexandru BODISLAV
- Challenges of the Economic Science
During the Crisis
Ioana MOLDOVAN
Raluca Andreea POPA
