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Medium Term Projections of Demand for Labor With Higher Education and of Employed Population in Romania


Author Info

  • Ion Ghizdeanu


  • Dorin Jula


  • Marioara Iordan


  • Mihaela Nona Chilian


  • Tiberiu Diaconescu

    ("Dimitrie Cantemir" Christian University)


The projection model of demand for labor with higher education (MCFMSS) and medium-term forecasts make a consistent pattern, circumscribed to the standard macroeconomic theories, which adequately reflect the peculiarities of the Romanian economy and generates plausible results. Due to its complexity, the model is a true macromodel which relates the economic growth forecast with that of growth in employment in a detailed structure. The model has as the main exogenous variables the economy-wide GDP and gross value added by sectors. Starting from a Cobb-Douglas production function, the model proposes a growth scenario of employed population mainly to achieve the Europe 2020 objectives, based on the growth of activity rate, on a moderate GDP growth and on lower unemployment. Three scenarios were considered for all exogenous variables - reserved, moderate and optimistic, the moderate scenario being preferred because the data sets used were short.

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Bibliographic Info

Article provided by Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest in its journal Knowledge Horizons - Economics.

Volume (Year): 5 (2013)
Issue (Month): 2 (June)
Pages: 112-118

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Handle: RePEc:khe:journl:v:5:y:2013:i:2:p:112-118

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Related research

Keywords: Labor demand; labor projection models; GDP and VAB forecast; employed population forecast;

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