Issue 2, 2012

The article focuses on the basic traits of theoretical concepts and modifying trends outlined in the empirical expression of the regularities which govern the cycle development of the modern stage. The principles of cyclic recurrence are interpreted on the basis of traditional understanding of development of economic cycles, as well as of a new cyclic recurrence form related to the emerging cycles of economic growth. This form is confirmed by recurrent fluctuations in the wavy trajectory of growth over the past 40 years. The transformation process of the "classical" form of the cyclic recurrence into the new one is justified by the realities of economic dynamics in the world, EU member states and the United States during 1971-2010. Particularly, this study covers the dynamics of gross product, employment, unemployment and inflation. It also notes changes in coordination and synchronization degree of these basic indicators applicable for analysis of the economic cycle. New trends are expressed through increasing cyclic resistance and formation of a longer cycle of growth in world economy and the economies of the European Union and the United States.

JEL: E01, E32, F43, F44

This article discusses the two main models of complete markets, the criticism to them that form the early Arrow-Debreu theory, as well as the supplements and the shortcomings of the so-called revised version of the theory. We underline the most important consequences from this theory and present generalized comments.

JEL: А10; В21; C02; D01

The high motivation to work is a key prerequisite for competitive advantage of human resources. Our investigations in large industrial companies in Bulgaria have not confirmed any considerable results in motivating human resources. Major issues in two interrelated spheres: corporate motivation policy and tools for implementation thereof are presented with sufficient arguments.

JEL: J31; M12; M51; M53

This article is an attempt to put into practice a consistent approach for decomposing the aggregate unemployment in Bulgaria using the available statistical information. Investigating the interrelationship between unemploy-ment and vacancies with the help of the so-called “U-V approach” the levels of frictional, structural and cyclical unemployment in the aggregate number of unemployed in the country is estimated. The structural unemployment is additionally decomposed into geographical, occupational and mixed geographical/occupational components. The obtained results provide a sound basis for analysing some of the major trends in unemployment dynamics in Bulgaria for the period 2006-2010. Together with the estimation of unemploy-ment at national level, its basic components are studied from a regional perspective with respect to the administrative division of the country into planning regions.

JEL: J64

The development of the concepts in the international economic integration are analyzed. The liberal, regulatory and institutional theories of economic integration and the optimum currency area theory are presented. The Copenhagen Criteria for EU membership, the Maastricht Convergence Criteria and the optimum currency area criteria are investigated.

JEL: F15; F36