Issue 1, 2015

The paper analyses the unprecedented coordinated actions to suppress the "free fall" of the United States and world economy. It then shows the role of monetary and fiscal policy of governments. The article reveals are the fundamental similarities and differences between the Great Depression of the 30-ies of the last century and the current Great Recession. It indicates the controversial results of the policies in the United States and the European Union and the emerging trend towards deflation.
JEL: F01; F63; O11; O23

This study examined the causal and quantitative relationships between the unemployment rate and the the inflation rate in Bulgaria. The statistical analysis studied the relationship between the two economic variables using monthly and annual data. A comparison has been made of the results obtained for Bulgaria and European Union (28 countries). An assessment of the equilibrium level of unemployment (NAIRU1) for the period 2000-2013 (annual data) and January 2000 – March 2014 (monthly data) has been performed.
JEL: E24; E31

This article tackles two methodological problems. The first one concerns the definition and age boundaries of the youth population. It is still actively discussed in the literature and ambiguously solved in research and policy actions. The second problem is related to the measures of youth unemployment, which allow for manipulations through skewed usage of only one deliberately chosen measure or through comparisons of multiple measures with no account of their different content. Directions for a detailed empirical analysis of youth unemployment in Bulgaria are inferred. In the concluding part an alternative ranking of EU-28 countries is suggested based on an aggregate handling of three youth unemployment measures in the age interval 15-29 years. It differs decisively from the popular Eurostat ranking, based only on the youth unemployment rate.
JEL: J21; J82

Characteristics of innovation processes in tourism and significance of innovation for tourism supply chain development are discussed. Main directions of innovation activities in the field are presented. The use of contemporary information and communication technologies and their role for diminishing expenditures and increasing quality and efficiency in the creation of tourism products and management of processes in the supply chain in tourism are examined. The importance of new information and communication technologies for raising the competitiveness of logistics systems in tourism and creation of new marketing methods and distribution channels is underlined. Principles of sustainable development of tourism are treated. The importance of socially-responsible tourism for the preservation of biological resources of the planet, of national idiosyncrasy, of world historical and cultural heritage, and for the support of socio-economic development of the countries is underlined.
JEL: O31; L23; M11