Coping with Macroeconomic Imbalances: Bulgaria’s Experience during the Global Turmoil

By: Dobrinsky, Rumen.

Material type: materialTypeLabel

BookSeries: wiiw Policy Notes and Reports: 8Publisher: Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2012Description: 29 S., 1 Table and 17 Figures, 30cm.Countries covered: BulgariaOnline resources: Click here to access online Summary: It is textbook knowledge that economic crises are in most cases associated with the accumulation of macroeconomic imbalances. In turn, macroeconomic imbalances emerge as the result of imbalanced growth. In the ideal world of equilibrium, all macroeconomic variables change at the same, equilibrium growth rate. The real world is one of disharmony and disequilibria, when there are significant divergences in the rates of growth of economic variables. When speed differentials are within certain limits, the resulting macroeconomic imbalances are manageable through the instruments of macroeconomic policy and are not a matter of concern. Crises emerge when disequilibria get out of control and the economy is incapable of coping with significant speed differentials among key economic variables. ...

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Item type	Current library	Call number	Status	Date due	Barcode
Paper	WIIW Library	/8 (Browse shelf(Opens below))	Available		1000010002391

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It is textbook knowledge that economic crises are in most cases associated with the
accumulation of macroeconomic imbalances. In turn, macroeconomic imbalances emerge
as the result of imbalanced growth. In the ideal world of equilibrium, all macroeconomic
variables change at the same, equilibrium growth rate. The real world is one of disharmony
and disequilibria, when there are significant divergences in the rates of growth of economic
variables. When speed differentials are within certain limits, the resulting macroeconomic
imbalances are manageable through the instruments of macroeconomic policy and are not
a matter of concern. Crises emerge when disequilibria get out of control and the economy
is incapable of coping with significant speed differentials among key economic variables. ...

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