344 research outputs found
LABOR PRODUCTIVITY AND WAGES IN THE REPUBLIC OF MACEDONIA
No full textThe relationship between wage and labor productivity is very frequent and receives a special treatment in economic theory and practice. The purpose of this paper is to explore the relationship and interdependence between net-wage and labor productivity in the Republic of Macedonia during the period 1995-2007. The objects of analysis are the relations between the two variables on aggregate level of the Macedonian economy, as well as for certain economic sectors separately (industry, mining and water management; agriculture, fishing and forestry; construction; transport and communications; trade and financial services). Based on the results from the performed analysis, the paper reveals how and to what extent changes in real net-wage influence the changes in labor productivity in Macedonia, on aggregate level and in the observed sectors.real wage, GDP per worker, labor productivity, OLS regression, correlation.
Animals and philosophers: Preface to my critics
No full textThe author is here seeking to expose his book Philosophical Animal zoographical persuasion to philosophy, to his own remorseless analysis - and that way defend the book from potential criticism by the others. On the other hand, the author believes that this will open up the space for discussion about the book and themes that book provokes. This discussion is not going to be mere neatly registered response and/or appropriate praise but a contribution inspired by the book, resonating back to it
Wages Inequality in the Republic of Macedonia in a Post Crisis Period
No full textThe aim of this paper is to show the distribution of net wages in the Republic of Macedonia and whether the great world economic crisis of 2008 has had an impact on the inequality in the distribution of wages. In this paper it is analyzed the level of inequality in the distribution of wages in Macedonia in 2008 as a year when the economic crisis started in the last quarter, in 2012 as the year in which GDP still has had a negative rate of economic growth and in 2014, when the economy maintained positive economic growth. In the three selected years the analysis is based on examination of the inequality in the distribution of the paid net wages
"Author Meets Critics: Predrag Cicovacki, Author of Gandhi's Footprints, Meets Critics Sanjay Lal and Carlo Filice"
No full textTwo critics respond to Predrag Cicovacki’s book, Gandi’s Footprints. Cicovacki opens the discussion by presenting his motivations for exploring a paradox, that Gandhi’s work is widely revered but not widely emulated. Cicovacki explores a resolution to the paradox by suggesting how Gandhi’s promising visions may be followed without being imitated, especially Gandhi’s insight that we must seek spiritual grounding for life in a materialistic world. Critic Sanjay Lal affirms Cicovacki’s insight but suggests that precisely because Gandhi’s aspirations for spiritual life were profoundly transformative we should take care not to dilute them into our conventional wisdoms. Critic Carlo Filice asks how Gandhi’s commitment to unified reality could be more clearly articulated once a distinction is drawn between spirit and matter, also how Gandhi’s nonviolence could manage to embrace important exceptions. In reply to critics, Cicovacki proposes an approach to Gandhi informed by the insights of Tagore
The Impact of the Main Determinants and Changes in Agricultural Labour Productivity in Macedonia
No full textThe aim of this paper is to analyze changes and impacts on the level of labour productivity in the agricultural sector in Macedonia in the period from 2006 to 2017. Labour productivity is an important determinant for establishing the competitiveness of a particular sector or overall economy and helps in creating the necessary conditions for economic development. Agricultural sector in many countries represents the basis for growth in gross domestic product. Agriculture plays a key role in development of the national economy in Macedonia as a third largest sector after services and industry. Therefore, in order to increase the agricultural labour productivity, it is necessary to increase agricultural production, i.e., the part of gross domestic product created by the agriculture sector. In this direction, the paper also analyzes the relationship between agricultural labour productivity and gross domestic product and employment in agriculture. Synthesis and analysis, induction and deduction, descriptive statistics, comparative analysis, correlation analysis and regression analysis are used for the purpose of the paper. The results show that changes in gross domestic product in agricultural sector in Macedonia have a greater impact on agricultural labour productivity for the analyzed period compared to the impact of changes in the number of employees in the agriculture sector where the relationship is weak to moderate. Research results also showed that there is a positive and strong quantitative relationship between agricultural labour productivity growth rate and GDP growth rate in Macedonian economy. Agricultural GDP is the determinant which has to be influenced through intensification of agricultural production in order to increase the agricultural productivity
NAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of Macedonia
No full textThe main goal of the paper is to estimate the NAIRU for the Macedonian
economy and to discuss the applicability of this indicator. The paper
provides time-varying estimates for the period 1998-2012, which are obtained
using the Ball and Mankiw (2002) approach, supplemented with the iterative
procedure proposed by Ball (2009). The results reveal that the Macedonian
NAIRU has ahumpshaped path. The estimation is based on both the LFS
unemployment rate and the LFS unemployment rate corrected for employment in
the grey economy. The dynamics of the estimated NAIRU stress the ability of
the NAIRU to present the cyclical misbalances in a national economy
Unemployment and the effect of hysteresis: The case of the Republic of Macedonia
No full textThe Republic of Macedonia is faced with high and persistent unemployment which remains over 30% during the period of transition. Taking this into consideration, the task of this paper is to offer an explanation for the high and persistent rate of unemployment in Macedonia in the period of transition. Explanation for long-term and persistent unemployment in Macedonia is based on the concept of the hysteresis theories, which is an approach primarily used on behalf of the new Keynesian economy. Having in mind the different theories about the concept of hysteresis, the paper offers a comprehensive analysis about the applicability of this concept at the labor market in Macedonia. The central point of this paper is the question 'Whether and to which extent the short-term shocks on the side of the aggregate demand in Macedonian economy, that led to increase in the factual unemployment, could be treated as being one of the sources for permanent rise of unemployment?' Or in other words, 'Is it possible to recognize Hysteresis at the labor market in the Republic of Macedonia?' Results of the paper will serve to academic, scientific, professional and political public in explaining the problem of unemployment in the country. Results and conclusions will also serve to policy makers, primarily to the Government, Ministry of Finance and the Central Bank, to understand the effect of neglecting the short run in the economy and to create adequate policy for management of aggregate demand
MAIN DETERMINANTS OF YOUTH LABOUR MARKET IN SELECTED SEE COUNTRIES AND THE CASE OF MACEDONIA
No full textThe aim of this paper is to elabourate the youth on the labour market in selected South-East European countries with special emphaisis on Macedonia and particular reference to their present state. The analysis of Macedonian youth employment is accomplished with their educational and economic structure. The situation of the global youth employment remains unstable. Problems of long job progression and a lack of stable employment for youth exist almost all around the world. As a part of the labour force, young people can significantly contribute for increasing the economic development of the country with their knowledge and abilities. Methods of analyses and synthesis, deduction and induction, as well as descriptive statistics and comparison methods will be implemented in this research. The situation of young people on the labour market in Macedonia is illustrated by paralleling with labour market indicators at national level, as well as with South-East European countries. Recent researches show that many youth in the SEE region are not active in the labour market and Macedonian youngsters aged between 15 and 24 years old are more likely to be unemployed compared to the other age groups. Labour market in Macedonia is characterized by a relatively low activity of youth. The youth activity rate in Macedonia is lower than the European Union and the average activity rate in Western Balkan countries
NAIRU estimates in transitional economy with extremely high unemployment rate: the case of the Republic of Macedonia
No full textThe paper provides time-varying NAIRU estimates for Macedonian economy for the period 1998-2012, which were obtained using Ball and Mankiw (2002) approach and additionally supplemented with iterative procedure proposed by Ball (2009). The results revealed that the Macedonian NAIRU has the hump-shaped path: the estimated NAIRU is 23.5 percent in the second quarter of 1998, peaks at 28.3 percent in the last quarter of 2005 and falls to 23.6 percent in the last quarter of 2012. The estimation is based on the corrected LFS unemployment rate for the employment in the grey economy
THE IMPACT OF HUMAN CAPITAL ON THE ECONOMIC GROWTH IN MACEDONIA
No full textThe role of human capital in a country’s growth process is of great importance. As a separate factor of production, it contributes to solving key economic problems in the process of globalization, especially in economies based on knowledge. The aim of this paper is to illustrate the impact of human capital on the economic growth of Macedonia in the period from 2000 to 2016 through the usage of an econometric analysis of time series of human capital indicators which are widely accepted in theory and empirical research. It is about education and health, i.e. the educational qualifications of employees and their life expectancy. For that purpose, a regression analysis followed by an examination of stationarity of time series is used, as well as the necessary conditions for selecting the best model from all of the available alternatives. The results show that there is a positive link between human capital and economic growth in Macedonia. Also, educational qualifications and life expectancy have a positive effect on GDP per capita in Macedonia for the analyzed period. All of the variables show statistical significance, but higher education qualifications have proved to be an indicator of human capital with the greatest impact on the economic growth in Macedonia. Therefore, the economic policy-makers should accept and promote education and health as healthy economic investments which raise not only the quality of life, but also increase the productivity of the market and thus the output in the country
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