ANALYSIS OF SUBSTITUTION CHANGES IN THE PHILLIPS CURVE IN V4 COUNTRIES OVER THE COURSE OF ECONOMIC CYCLES

The method of analyzing and modeling cyclical fluctuations of economy initiated by F. Kydland and E. Prescott - the 2004 Nobel Prize winners in Economics - is considered in the article. They proposed a new business cycle theory integrating the theory of long-run economic growth as well as the microeconomic theory of consumers and firms behavior. Simple version of general dynamic and stochastic macroeconomic model is described. The given approach which was formulated in their fundamental work "Time to Build and Aggregate Fluctuations" (1982) gave rise to an extensive research program and is still used as a basic instrument for investigating cyclical processes in economy nowadays.

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Integrating economic cycles theory with equilibrium theory (the second half of the 1920s and 1930s) and N. D. Kondratiev’s project of economic dynamics

Voprosy Ekonomiki ◽

10.32609/0042-8736-2014-1-22-39 ◽

2014 ◽

pp. 22-39 ◽

Cited By ~ 5

Author(s):

N. Makasheva

Keyword(s):

Economic Theory ◽

Equilibrium Theory ◽

Economic Dynamics ◽

Economic Cycles

The article considers the ways to overcome the methodological gap between the analysis of economic cycles and the pure economic theory as suggested by the Western economists in the 1920s and 1930s. In this context, N. D. Kondratiev’s project of economic dynamics is analyzed, which implied a radically different vision of the opportunities to solve this problem.

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Sustainable Development Through Innovation In Service Sector

Balkan Region Conference on Engineering and Business Education ◽

10.2478/cplbu-2014-0038 ◽

2014 ◽

Vol 1 (1) ◽

pp. 175-178

Author(s):

Ilie Banu ◽

Ioana Madalina Butiuc

Keyword(s):

Sustainable Development ◽

Tax Evasion ◽

Service Sector ◽

Service Innovation ◽

Slow Recovery ◽

Quality Research ◽

Development Indicators ◽

Economic Cycles ◽

Sustainable Development Indicators ◽

Research And Innovation

AbstractRegarding the economic crises and the slow recovery that still continues, we believe that a solution can be improving the capacity to research and innovate in order to achieve sustainable development. Another key issue of the paper is about developing the cooperation between academia and business. The challenge of this development is how to increase the amount to finance research and innovation that can be implemented in the economy. As a global solution, to this problem we can recommend, for example, reducing tax evasion and by fiscal education. Also particular sources have to be found in order to develop innovation on SME level. It is essential for innovation to make quality research in order to be better prepared and increase adaptability to economic cycles. The aim of the paper is to find out how service innovation and cooperation between academia and business can enhance sustainable development indicators. The conclusions of the paper are structured in particular proposals and recommendations.

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