Economic Archive

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  DISCRIMINATIVE ABILITY IN ESTIMATING PROBABILITY OF DEFAULT WITH CERTAIN MACHINE LEARNING ALGORITHMS

  The article highlights the importance and added value of some machine learning algorithms in assessing default probability. The results of the research highlight the discriminative ability added to many other essential aspects of machine learning in assessing credit risk. These aspects can be identified as specific opportunities and challenges. As ... The article highlights the importance and added value of some machine learning algorithms in assessing default probability. The results of the research highlight the discriminative ability added to many other essential aspects of machine learning in assessing credit risk. These aspects can be identified as specific opportunities and challenges. As for the discriminative ability regarding the analysed sample, the results prove the superiority of machine learning over the traditionally established and known models. For individual business organizations with exposures to credit risk, machine learning could contribute to reducing the credit losses with larger volumes of business transactions.

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  POSSIBILITIES FOR OVERCOMING ISSUES IN THE PHASE OF OLD-AGE PENSION PAYMENTS FROM AN UNIVERSAL PENSION FUND

  The structuring of the pension model, the exploration of its characteristics and parameters, as well as of pension products, their role, and the potential to ensure long-term social security in an environment marked by socio-economic and demographic challenges, is a significant and relevant thematic area. The focus of the study is on presenting ... The structuring of the pension model, the exploration of its characteristics and parameters, as well as of pension products, their role, and the potential to ensure long-term social security in an environment marked by socio-economic and demographic challenges, is a significant and relevant thematic area. The focus of the study is on presenting the structure, the regime, the insurance parameters, the pension products, and the functioning model of insurance in an universal pension fund. The conclusion reached is that the most payments to the first pensioners are deferred for a period of up to three years, while lifelong payments constitute a very small portion. This fact raises questions about the level of social security, and consequently, the ability of the second pillar of the multi-pillar pension model to fulfill the assumed public commitments and meet personal expectations. Possibilities have been outlined to increase the proportion of pension-ners receiving lifelong pensions while decreasing the proportion of those receiving deferred and one-time payments. This, in turn, will lead to long-term and, at the same time, higher social security for Bulgarian pensioners.

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  ON SOCIAL REALITY, THEORY AND ECONOMICS EDUCATION

  The article is an attempt to defend the based on the Seneca’s maxim thesis that the present is to fix the past and foresee the future. Employing a broader socio-economic paradigm, it analyses the essence of societal reality and economic reality in particular; the dominance of economic considerations surpassed by time and the necessity for a more ... The article is an attempt to defend the based on the Seneca’s maxim thesis that the present is to fix the past and foresee the future. Employing a broader socio-economic paradigm, it analyses the essence of societal reality and economic reality in particular; the dominance of economic considerations surpassed by time and the necessity for a more comprehensive education in economics. Finally, the solution to the problem is proposed through the enhancement of traditional economic scientific and educational disciplines with inter-disciplinary knowledge.