标题：DEGREE OF OVERLAPPING OF THE LOCAL BUSINESS CYCLE WITH THE CYCLE IN THE EURO AREA
期刊名称：Indicator of Economic Activity in Bulgaria
出版年度：2008
卷号：1
页码：10-10
出版社：Agency for Economic Analysis and Forecasting
摘要：Figure 7 shows the correlations between the cyclical fluctuations in the Euro area and the Bulgarian economy. Any change in the Euro area market situation is passed onto the local economy with a lag of a time period or two; a correlation with a lag of only one time period amounts to 0.59; accordingly, a correlation with a lag of two time periods is estimated at 0.60. The Bulgarian economy displays stronger volatility than the Euro area economies due mainly to the fact that it is a small and open economy where the structure of exports is heavily dependent on the global market situation.
Loading...
