摘要：Industrial fluctuations are closely related to the evolution of relative prices of produced goodsand resources involved in production activity. Industrial fluctuations, as an expression of forces manifested inthe real economy, are caused by changes in individuals’ consumption and investment decisions, producedwithin expansionary monetary policies. The ease of obtaining a bank loan in the context of decreasing interestrates and of larger amounts of money caused an increase in individuals’ demand for goods resulted fromlonger, capital intensive production processes. The rise in prices of intermediate and capital goods in a fasterpace compared to the increase in prices of consumer goods is doubled by the increase of the share of higherorder industries in the structure of production. The objective of this paper is to analyze changes in industrialstructure of Eastern Europe countries within the policies of quick access to monetary resources. The analyzedstates (Bulgaria, the Czech Republic, Hungary, Poland and Romania) are part of the European Union andhave autonomous monetary policies, meaning that they have not yet adopted the common currency. In alleconomies analyzed, we find approximately the same patterns of monetary expansion and industrialfluctuations.
关键词：monetary expansion; business cycle; capital goods industry; consumer goods industry; East;European countries
