{
  "title": "Bulgaria: Selected Issues Paper",
  "publication": "IMF Staff Country Reports, May 13, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/bulgaria-selected-issues-paper-42927",
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  "summary": "This Selected Issues paper examines inflation dynamics in Bulgaria from January 2012 to February 2015 and highlights some stylized facts about inflation in the country.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Examines inflation dynamics in Bulgaria from January 2012 to February 2015 and highlights stylized facts about inflation in the country.\n- Identifies the period January 2012 to February 2015 as most relevant for attributing factors contributing to recent deflation in Bulgaria and assessing their relative importance.\n- Publication date: May 13, 2015."
    },
    {
      "heading": "Methodology",
      "content": "- Uses regression analysis to quantify contributions of different factors to inflation dynamics during January 2012 to February 2015."
    },
    {
      "heading": "Key empirical findings",
      "content": "- Regression analysis suggests the most significant factor driving deflation during January 2012 to February 2015 was the inward spillover of low inflationary pressure from the European Union to Bulgaria.\n- This inward EU spillover effect was further exacerbated by:\n  - Consecutive electricity price cuts in 2013.\n  - Fast-falling global commodity prices, especially since late 2014."
    },
    {
      "heading": "Thematic focus and subjects",
      "content": "- Primary topics addressed: Debt burden, Deflation, External debt, Financial statements, Inflation, Price controls, Prices, Public financial management (PFM).\n- Keywords present in the source: capital structures, core inflation, cost structure, CR, data from the Orbis database, Debt burden, Deflation, Financial statements, firm, firms' assets, Global, headline inflation, Inflation, inflation inertia, inflation outlook, investment-to-capital ratio, ISCR, micro data, price, Price controls.\n\nSource: Bulgaria: Selected Issues Paper, IMF Staff Country Reports, May 13, 2015.\n\n---\n\n Content in this bundle\n\n- Bulgaria: Selected Issues; IMF Country Report 15/120; April 16, 2015\n  - Bulgaria: Selected Issues; IMF Country Report 15/120; April 16, 2015 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Bulgaria: Selected Issues; IMF Country Report 15/120; April 16, 2015 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 13, 2015",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475555059.002",
    "Examines inflation dynamics in Bulgaria from January 2012 to February 2015 and highlights stylized facts about inflation in the country.",
    "Identifies the period January 2012 to February 2015 as most relevant for attributing factors contributing to recent deflation in Bulgaria and assessing their relative importance.",
    "Publication date: May 13, 2015.",
    "Uses regression analysis to quantify contributions of different factors to inflation dynamics during January 2012 to February 2015.",
    "Regression analysis suggests the most significant factor driving deflation during January 2012 to February 2015 was the inward spillover of low inflationary pressure from the European Union to Bulgaria.",
    "This inward EU spillover effect was further exacerbated by:",
    "Primary topics addressed: Debt burden, Deflation, External debt, Financial statements, Inflation, Price controls, Prices, Public financial management (PFM).",
    "Keywords present in the source: capital structures, core inflation, cost structure, CR, data from the Orbis database, Debt burden, Deflation, Financial statements, firm, firms' assets, Global, headline inflation, Inflation, inflation inertia, inflation outlook, investment-to-capital ratio, ISCR, micro data, price, Price controls.",
    "**Bulgaria: Selected Issues; IMF Country Report 15/120; April 16, 2015**"
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