Open AccessAggregate Demand and Macroeconomic Dynamics in the EU: A Comparative Analysis of Old and New Member States
Publication year - 2020
Publication title -
ikonomičeski i socialni alternativi/ikonomičeski i socialni alternativi
Language(s) - English
Resource type - Journals
eISSN - 2534-8965
pISSN - 1314-6556
DOI - 10.37075/isa.2020.3.05
Subject(s) - member states , aggregate demand , economics , real gross domestic product , dynamics (music) , aggregate (composite) , demand side , macroeconomics , econometrics , eu countries , monetary economics , international economics , european union , monetary policy , physics , materials science , acoustics , composite material
The paper looks at the macroeconomic dynamics in old and new EU Member States interpreted in light of the changes in the aggregate demand. The focus is on examining changes in individual components of aggregate demand over time, their relative importance, and their contribution to real GDP growth rates. This reveals the distinct features of old and new EU Member States in terms of the cost dependence of GDP growth and the resulting macroeconomic consequences.