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

Ion Ghizdeanu (), Dorin Jula, Marioara Iordan (), Mihaela Nona Chilian () and Tiberiu Diaconescu

Knowledge Horizons - Economics, 2013, vol. 5, issue 2, 112-118

Abstract: 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.

Keywords: Labor demand; labor projection models; GDP and VAB forecast; employed population forecast (search for similar items in EconPapers)
JEL-codes: E24 I25 J24 O15 (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

Downloads: (external link)
http://orizonturi.ucdc.ro/arhiva/2013_khe_2_pdf/khe_vol_5_iss_1_112to118.pdf (application/pdf)
http://orizonturi.ucdc.ro/arhiva/2013_khe_2_pdf/khe_vol_5_iss_1_112to118.pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:khe:journl:v:5:y:2013:i:2:p:112-118

Access Statistics for this article

More articles in Knowledge Horizons - Economics from Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest Contact information at EDIRC.
Bibliographic data for series maintained by Adi Sava ().