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Macroeconomic Dependencies of the Labor Market: Bulgaria and the European Union


  • Vassil Tsanov


The study examines the macroeconomic dependencies, which form the adapting opportunities of the Bulgarian labor market to external and domestic impacts. For evaluating the real opportunities for improving its functioning, a comparison with the dependencies in the developed EU countries (EU-15) is made. The study discusses three main macroeconomic dependencies of the labor market: the impact of the economic growth on the parameters of the labor market; the interaction between the inflation, work salaries and unemployment and evaluation of the degree of coordination between the demand and supply of labor. The study presents evaluations and conclusions concerning the similarities and differences in the mechanisms of impact and the opportunities for improvement.

Suggested Citation

  • Vassil Tsanov, 2008. "Macroeconomic Dependencies of the Labor Market: Bulgaria and the European Union," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-32.
  • Handle: RePEc:bas:econst:y:2008:i:4:p:3-32

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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General


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