Theoretical and Applied Economics
No. 1 / 2015 (602), Spring
An approach of social policy in terms of macro-stabilisation function
Bucharest University of Economic Studies, Romania
George-Marian ȘTEFAN
Bucharest University of Economic Studies, Romania
Abstract. In general, fundamental opinions regarding macroeconomic stabilisation of an economy consider that (i) economy autocorrects itself and on the long term tends toward equilibrium and (ii) because of rigidities, the economy cannot correct by itself and it is necessary for the government to intervene, through anticyclical policies, and bring it to equilibrium. The automatic stabilisers are described as categories of government revenues and expenditures that adjust themselves to the cyclical changes of an economy – for example, as output decreases, revenue collection is reduced, while unemployment benefits increase. These changes will have a direct impact on business and household income. The effect of the automatic stabilisers depends on government size and the speed with which tax and expenditure answer to cyclical fluctuations. This article addresses the issue of automatic stabilisers and how social policy acts as a macro-stabilisation policy for the economy.
Contents
The credit impact on the economic growth
Predicting balance of payments crises for some emerging economies
Creativity and innovation – Sources of competitive advantage in the value chain of tourism enterprises
How to escape the middle income trap: international evidence from a binary dependent variable model
Land value dynamics with endogenous human and physical capital accumulation
Environmental Kuznets curve. Evidence from Romania
Effects of economic crisis on the distribution of earnings from Romania
An approach of social policy in terms of macro-stabilisation function
Economy recovery risks which Romanian companies has to cope with
The measurement of fiscal behavior in some European countries: Panel data perspective
Romanian municipal bond market at Bucharest Stock Exchange: further investigations
Inequality and economic growth: theoretical and operational approach
Measuring financial development in India: A PCA approach
Welfare costs due to economic fluctuations according to different model setups
The role of rating agencies in international financial market
Socioeconomic development index ranking calculations of cities with fuzzy clustering method: case of Turkey
Fiscal transparency in the European Union
Epistemic transfers in economics from social sciences
Accelerating the development of learning organizations: Shifting paradigms from current practice to human performance improvement
Transferring business intelligence and big data analysis from corporations to governments as a hybrid leading indicator
The impact of cultural and educational accumulations on entrepreneurial behaviour. Main issues encountered in theoretical approaches
Models for evaluating financial crisis – what went wrong for developed and emerging economies?
Impact of financial crisis on the decision making process for insurance consumers
Beyond the implementation of a dynamic stochastic general equilibrium model
How the legislation influenced the M&A transactions in Romania