by Summary:
How little the two Eastern European countries that we have focused on can be compared with Western countries can be seen very clearly in the development of unemployment (Graph 1). Following the major crisis of 2008/2009, the unemployment rate in Romania hardly rose at all. In Bulgaria it increased significantly, but despite weak economic development after 2013 it is falling at an astonishing rate, almost to the relatively low Romanian level.For Romania, this can only mean that unemployment is not recorded as such or that the outflow of labour is so rapid that, despite significant declines in production, the labour force does not register as unemployed at home. In the case of Bulgaria, there have probably been considerable migration effects in recent years, which have ensured that
Topics:
Mike Norman considers the following as important: austerity, Bulgarian economy, fiscal policy, MMT, Romanian economy, sectoral balances, Unemployment
This could be interesting, too:
How little the two Eastern European countries that we have focused on can be compared with Western countries can be seen very clearly in the development of unemployment (Graph 1). Following the major crisis of 2008/2009, the unemployment rate in Romania hardly rose at all. In Bulgaria it increased significantly, but despite weak economic development after 2013 it is falling at an astonishing rate, almost to the relatively low Romanian level.For Romania, this can only mean that unemployment is not recorded as such or that the outflow of labour is so rapid that, despite significant declines in production, the labour force does not register as unemployed at home. In the case of Bulgaria, there have probably been considerable migration effects in recent years, which have ensured that
Topics:
Mike Norman considers the following as important: austerity, Bulgarian economy, fiscal policy, MMT, Romanian economy, sectoral balances, Unemployment
This could be interesting, too:
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How little the two Eastern European countries that we have focused on can be compared with Western countries can be seen very clearly in the development of unemployment (Graph 1). Following the major crisis of 2008/2009, the unemployment rate in Romania hardly rose at all. In Bulgaria it increased significantly, but despite weak economic development after 2013 it is falling at an astonishing rate, almost to the relatively low Romanian level.
For Romania, this can only mean that unemployment is not recorded as such or that the outflow of labour is so rapid that, despite significant declines in production, the labour force does not register as unemployed at home. In the case of Bulgaria, there have probably been considerable migration effects in recent years, which have ensured that official unemployment has remained within limits.…
The neoliberal solution to unemployment at the national level—emigration to other countries where employment may be available.
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flassbeck economics
The economic situation in Bulgaria and Romania – Part 2
Heiner Flassbeck