Cunoaştere şi intervenţie pe economia agregată
Knowledge and intervention on aggregate economy

Summary/Abstract: 2009 is in Europe the year of excellence, which should bring up a changing tool to fight back the economic crisis. In such context, we reconsider the theoretical frame of the unemployment, inflation and foreign deficit as major threatening of stability and progress. The disequilibria trade-of is based on the “New Keynesian” imperfect competition model of labor markets. This model assumes that both labor and product markets are imperfectly competitive, due to certain market imperfections – such as trade unions and oligopolistic firms. Labor can demand a bargained real wage, whilst firms can set a price-determined real wage at which they can earn over-normal profits. The firms' price-determined real wage consists of the actual value of output (as determined by the marginal product of labor) minus a profit per worker for the firm. The knowledge based economy for Romania brings significant challenges to enhance the market economy, while changing and empowering a competitive structural equilibrium.

• Details
• Contents