"Scientific research" Almanac

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  MANAGING THE STATE DEBT OF BULGARIA – ISSUES AND CHALLENGES

  Satisfying the public interest in terms of public goods and services has its lim¬its – the resource limitedness in the provision of public goods and services. Since the needs of society and individuals always exceed the available economic resources for their implementation, this necessitates the use of debt and deficit financing tools. This is ... Satisfying the public interest in terms of public goods and services has its lim¬its – the resource limitedness in the provision of public goods and services. Since the needs of society and individuals always exceed the available economic resources for their implementation, this necessitates the use of debt and deficit financing tools. This is particularly true for the state as an economic entity. Moreover, debt financing could be used for the formation and implementation of policies going far beyond the purely economic objectives of any government. Economic theory has already proved that the public debt, its quantity and management processes have an impact on the economic development of the country, consumption, savings and investments. Extending the debt crisis and the cataclysms in financial markets demonstrate the illusory idea of the adequacy of national economies in the management of public debt in the long term. It is objectively necessary to apply established measures as well as to approve new ones. The systematic approach for determining the multifaceted nature of public debt management has an important role in the area of analysis.

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  EVALUATION OF THE NEOCLASSICAL MODEL OF FUNCTIONING OF THE ECONOMY AND MOVE TOWARDS KEYNESIANISM

  Since the end of 2007 and the beginning of 2008 the global economy has been in an economic and financial crisis. This is a phenomenon with global consequences for production and consumption. In this line of thought two important questions come to the foreground. They are connected with the market and the state when coordinating and guiding ... Since the end of 2007 and the beginning of 2008 the global economy has been in an economic and financial crisis. This is a phenomenon with global consequences for production and consumption. In this line of thought two important questions come to the foreground. They are connected with the market and the state when coordinating and guiding business decisions, on the one hand, and a system of measures for over-coming the consequences of the crisis situation – on the other. On this basis, the paper aims to compare the theoretical concepts of the leading schools of economics – neoclas¬sical and Keynesian, in the direction of proposed measures to remedy such a situation and to take up again the path of economic growth.

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  NEOCLASSICAL AND INSTITUTIONAL SYNTHESIS OF HOUSEHOLDS

  The paper presents a study on households as subjects of economic relations in terms of the institutional and neoclassical synthesis. Households are considered a pri-mary component of the economic system, as well as objectively necessary and relatively autonomous economic entities. The neoclassical synthesis deals with two main charac¬teristics of ... The paper presents a study on households as subjects of economic relations in terms of the institutional and neoclassical synthesis. Households are considered a pri-mary component of the economic system, as well as objectively necessary and relatively autonomous economic entities. The neoclassical synthesis deals with two main charac¬teristics of both individuals and households – their rationalism and sovereignty – as key factors of their behaviour in a market economy. In response to the shortcomings of the neoclassical theory, the institutional approach focuses on the norms, rules and stereo¬types that govern human behaviour in real life. The analysis of households as functional socio-economic entities requires a combination of the concepts of neoclassical and in¬stitutional approaches.