In recent years, the OECD has measured the structural rate of unemployment by an indicator called the Non-Accelerating Wage Rate of Unemployment. The NAWRU-indicator is an important element in the policy analysis of the OECD. The rise in the estimated NAWRUs is also taken as evidence that Nordic...

The paper describes the evolutionary history of Macroeconometrics over the last one hundred years. Three main approaches are distinguished, their underlying principles are discussed and the weakness of each principle is considered. The paper also shows the current developments in the field and...

The first three factors resulting from a principal components analysis of term structure data are in the literature typically interpreted as driving the level, slope and curvature of the term structure. Using slight generalisations of theorems from total positivity, we present sufficient...

One of the most pressing problems in the Latvian economy is related to the energy sector. The most characteristic feature is coupled with the low efficiency of thermal energy consumption of households as a result of poor insulation of existing buildings in Latvia. Solving energy sector problems...

The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...

The paper discusses implementation of a research that is aimed at development of a simulation model which would allow analyzing different development strategies of the third generation university. Small countries’ universities have limits of growth. The problem can be solved with a new...

This paper aims to examine two products used in kitchen, a centrifugal juicer for fruits and vegetables and another masticating juicer. In order to choose the optimal variant of juicer (fruit and vegetable), it will analyze the characteristics of each juicer, so finally using the STEM method to...

The forecast can be defined like approximately of the unknown events from the future; this thing is necessary because of the existence of some unknown events, but this events play an important role in taking some decisions. It is obvious that the uncertainty's elimination is not possible, so the...

Structure of the economy refers to the shares of the broad sectors agriculture, industry, and services in gross domestic income (GDP) and employment. On the other hand, structural transformation refers the change in these shares over time. The purpose of this study is to enhance our...

In order to understand the sources of profits or monetary profits of capitalists and firms, the author examines the phrase of Marx: 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher hineingeworfen war.' (The class of capitalists cannot extract from...