Articles

• Kamen Mirkovich — University of National and World Economy

  Relative Theory of Utility and Value

  Abstract ▾ PDF

  It is justified in a previous paper published in Economic Thought Journal that along with the theory of marginal utility, which is dominating the contemporary economic thought, a theory of marginal value, of equal worth to it, should be developed, and its starting points have been outlined. This paper proposes the development of a relative theory of utility and value, which gives the opportunity to unite the utility and the value, as well as the marginal utility and the marginal value in a common non-contradictory microeconomic theory, that is absolutely compatible with the modern economics. The above is achieved by introducing relative utilities and relative value units, which are quite specific for each individual, but they are compatible among themselves within the framework of his/her subjective economic behaviour. Points of the individual's value economic equilibrium are deduced on this basis, which become starting ones for a fundamental microeconomic analysis.

• Iskra Beleva — Economic Research Institute аt BAS

  European Employment Strategy and the Bulgarian Labour Market (Mid-term and Long-term Horizons)

  Abstract ▾ PDF

  The labour market status and policy in Bulgaria are analysed in the light of the main objectives of the European Employment Strategy (EES). However, the achievements of the key strategic objectives for full employment, labour quality and productivity, social inclusion and social cohesion remain a problem for Bulgaria in a mid-term, as well as in a long-term aspect because of unfavourable economic, demographic and social factors. Proposals are made for a more active impact on the labour market by enriching policy mechanisms and instruments, as well as for improving organisational and institutional relationships.

• Alexi Danchev — Economic Research Institute аt BAS

  Research on Willingness-to-Pay for the Protection of Cultural Heritage (the case of Bulgarian monasteries)

  Abstract ▾ PDF

  The paper represents the basic results of the analysis of Willingness-To-Pay (WTP) for protection of Bulgarian monasteries as a part of the cultural heritage. The basic model for analysis of the problem is constructed on estimating general economic value and its attributes. Tobit model is used as the data are censored. The expected biases are analyzed too with indication of the possible reasons. The results indicate that despite the chronically low income the Bulgarian citizens value the importance of the monasteries as public goods. This WTP is sufficiently high to be accepted as indicative for the economic relevance of providing conservation works for protection of the monasteries.

• Ondras Inotai — Institute for World Economy of the Hungarian Academy of Sciences

  The Hungarian Economy and Its EU Accession

  Abstract ▾ PDF

  The pre-history of EU integration is presented briefly: at the first stage before 1989, when the Hungarian strategy opted for integration with the international financial institutions, and post 1989. The issues of implementing the requirements that are the precondition to become a successful EU member within the immediate future are pointed out. This success can be measured at two levels. First, a large part of Hungarian society has to feel within a relatively short time that EU membership means feasible enrichment and accelerated catching up with the EU average. Second, it can be considered a success when Hungary develops an active, future-oriented policy line in EU by strengthening European competitiveness.

• Asmaa Ahmed

  Random Walks in the Economic Dynamic Series

  Abstract ▾ PDF

  In the present study are presented some investigations published on world periodic, which concern to whether the inherent non-stationaryity of macroeconomic time series is entirely due to a random walk or also to non-linear components. Applying the numerical tools of the analysis of dynamical systems to long-run time series for the US, we reject the hypothesis that solely a linear stochastic process generates these series. Contrary to the real business cycle theory that attributes the irregular behaviour of the system to exogenous random factors, we maintain that the fluctuations in the time series we examined cannot lie explained only by means of external shocks plugged into linear autoregressive models.

• Alipi Alipiev

  Gender dimensions of labour market, employment and social security

  Abstract ▾ PDF

  The equality level of women and men on the labour market and in the social security field is evaluated. Gender differences in the employment rate and profiles are studied. The specific job-seeking behaviour of women and men is analysed, as well as the impact of universal and gender determined subjective and objective barriers on the labour market. The gender situation in the filed of employment is outlined as an indicator of the quality of relevant policies for equal access to the labour market and the existing acts of gender inequality are identified. The horizontal and vertical gender employment segregation, as well as their combined impact on women's and men's employment positions is analysed. Issues concerning equal treatment of gender in the pension security system in Bulgaria are discussed.