Economic Archive

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  Economy and Society: Highlights

  The pattern of the economic system has undergone dramatic changes over the past century, especially in terms of global markets. Golden standards are now part of the history. The US dollar has been an international monetary unit since 1944. Sixty years later, the Euro appeared. The trend in the development of economic processes indicates that ... The pattern of the economic system has undergone dramatic changes over the past century, especially in terms of global markets. Golden standards are now part of the history. The US dollar has been an international monetary unit since 1944. Sixty years later, the Euro appeared. The trend in the development of economic processes indicates that future global markets will be the product of the national currencies of the countries with the most advanced economies. This trend is promoted by the process of globalization. On the other hand, state intervention in the economy will be indispensable in near future. Not only is there room for such intervention, but the need to intervene is growing more and more immediate. However, it is people who have an essential role to the development of the economy, since no economic system could exist without people. It is people who ‘breathe life’ to the economy. Economy was invented by people for the sake of people, i.e. to provide for their existence. Hence, the focus of economy must be on people. It is the economy which should exist in favour of people, not people who should exist in favour of the economy.

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  Financial Science in Changing Europe – Challenges and Perspectives

  With the celebration of the 65th anniversary of the first Bulgarian academic department of financial sciences (07– 08 April 2017) at D. A. Tsenov Academy of Economics – Svishtov, a worthy assessment has been given and there has been a debate about what has been built over the years, what the current challenges and perspectives for future ... With the celebration of the 65th anniversary of the first Bulgarian academic department of financial sciences (07– 08 April 2017) at D. A. Tsenov Academy of Economics – Svishtov, a worthy assessment has been given and there has been a debate about what has been built over the years, what the current challenges and perspectives for future development are. The International Scientific Practical Conference “Current Challenges for the Financial Science in Changing Europe” was attended by Bulgarian and foreign scholars, working in the field of finance, as well as representatives of financial practice. One hundred and four people from seven countries and two continents, with ninety-two papers on corporate finance, investment, public finance, banking and micro-financial policy took part in the scientific forum. The host department prepared six plenary papers by its representatives of six hierarchical levels of academic development: students, PhD students, assistants professors, head assistants, associate professors and professors.

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  The EU Labour Market (as Viewed through the Prism of Elasticities)

  This paper discusses both theoretical paradigms and applications of labour market elasticities within the European Union of 28 member states. The paper is based onto a recent research (2014-2016), conducted by the author upon the effects on the EU-28 labour market, based on general models, explaining behaviour of elasticities of labour ... This paper discusses both theoretical paradigms and applications of labour market elasticities within the European Union of 28 member states. The paper is based onto a recent research (2014-2016), conducted by the author upon the effects on the EU-28 labour market, based on general models, explaining behaviour of elasticities of labour supply-demand sets of equilibriums. The paper employs the doctrine of employment-at-will, and therefore, the main theoretical framework for reasoning and explaining the effects on the EU labour market is an adapted Nash Bargaining Equilibrium on the labour market. Based on voluntary searching and matching of interests of employers and employees, the labour market is analyzed through the set of labour elasticities on micro- and macro-levels of the EU economy.