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In 2021, the issue of supporting the Member States for the European Union to ensure the transition to a normal economy as soon as possible, deeply affected by the health and economic and financial crisis. However, it is necessary to launch major objectives at Community level that give consistency to economic recovery. The approach in this article is also in this context. The Member States of the European Union aim individually and at the same time in a complex way to achieve superior results, in order to ensure sustainable economic growth, which would be the main factor in improving living conditions. In this sense, that of the economic growth of the European Union and of all the Member States, it is important to initiate economic objectives with the participation of as many Member States as possible. At the same time, the individual development of each stratum is important so as to ensure harmonized growth in order to pursue the second objective, which is to bring the level of economic growth closer to all Member States. Member States’ individual investments, as well as those harmonized in the context of economic objectives, are the steps by which this challenge could be achieved, could be met. There are enough contradictions in the European Union, in the sense that some states that have entered the last tranche or the last stage in the European Union, have yet to set a series of individual objectives to ensure the elimination of dysfunctions and consequently, creating a harmonization of economic developments. The question is whether the European Union is an appropriate framework, so that actors and partners can look with confidence and confidence to achieve major goals. The example of Brexit is one that brings a new possibility of insecurity, in the sense that the United Kingdom leaves a gap in terms of individual participation in the Community budget. Under these conditions, it is likely that the annual and multiannual budget will be slightly smaller and the lack of Great Britain in the entourage of the Member States will be able to be covered only by a sustained activity on multiple levels by the Community countries. There are a number of objectives in the European Union’s strategy that must be pursued in full accordance with the national strategies of the Member States. Only a harmonized policy can ensure a development closer to the aspirations and wishes of the Member States. The European Union is also manifested in a series of contradictions that exist between some Member States, which arise between what each Member State pursues and the global policy promoted by the European Union. In this regard, in this article we will seek to identify those points that may be positive aspects of harmonization of efforts or that are discordant and should be eliminated in order to reach a possibility of correlating the intentions and measures taken, so that it can be achieve some of the challenges facing the European Union. It should also be noted that between the United States and the European Union in economic, trade, tourism there are some different positions that can have an effect on the development of the European Union and its Member States within it.

The Member States of the European Union aim individually and at the same time in a complex way to achieve superior results, in order to ensure sustainable economic growth, which would be the main factor in improving living conditions. In this sense, that of the economic growth of the European Union and of all the Member States, it is important to initiate economic objectives with the participation of as many Member States as possible. At the same time, the individual development of each stratum is important so as to ensure harmonized growth in order to pursue the second objective, which is to bring the level of economic growth closer to all Member States. Member States’ individual investments, as well as those harmonized in the context of economic objectives, are the steps by which this challenge could be achieved, could be met. There are enough contradictions in the European Union, in the sense that some states that have entered the last tranche or the last stage in the European Union, have yet to set a series of individual objectives to ensure the elimination of dysfunctions and consequently, creating a harmonization of economic developments. The question is whether the European Union is an appropriate framework, so that actors and partners can look with confidence and confidence to achieve major goals. The example of Brexit is one that brings a new possibility of insecurity, in the sense that the United Kingdom leaves a gap in terms of individual participation in the Community budget. Under these conditions, it is likely that the annual and multiannual budget will be slightly smaller and the lack of Great Britain in the entourage of the Member States will be able to be covered only by a sustained activity on multiple levels by the Community countries. We have in mind the destructive effects that the economy of the member states will have, globally and individually, in the conditions of triggering and propagating the pandemic and economicfinancial crisis. There are a number of objectives in the European Union’s strategy that must be pursued in full accordance with the national strategies of the Member States. Only a harmonized policy can ensure a development closer to the aspirations and wishes of the Member States. The European Union is also manifested in a series of contradictions that exist between some Member States, which arise between what each Member State pursues and the global policy promoted by the European Union. In this regard, in this article we will seek to identify those points that may be positive aspects of harmonization of efforts or that are discordant and should be eliminated in order to reach a possibility of correlating the intentions and measures taken, so that it can be achieve some of the challenges facing the European Union. It should also be noted that between the United States and the European Union in economic, trade, tourism there are some different positions that can have an effect on the development of the European Union and its Member States within it.

The natural movement of the population refers in principle to births, deaths, divorces and marriages. The reduction in the number of births or the maintenance at a lower level was carried out under the rule of the pandemic crisis, when the couples were reserved in trying to have an increased number of offspring. In the same vein, the reduction in the number of births is due to the fact that the birth rate is influenced by human fertility, a context in which it has been declining and probably under the effect of the health and economic and financial crisis, which has been associated and continues at a fast pace, will impose such a situation. Mortality was also maintained in reasonable terms despite the fact that there were a number of effects of the pandemic crisis, the total number decreased. A structure of deaths by age groups shows that the most affected were those in the groups over 60-70 and even 80 years.

The authors, based on the study, wanted to highlight the evolution of tourism in our country. The data used in the calculation are for the first semester of 2020, as well as from June 2020. The data are interpreted in the dynamic evolution from one month to another, but also, by comparative study, with the same period from 2019 or June of the previous year. Due to the economic and financial crisis, based on the study, based on data published by the National Institute of Statistics and Eurostat regarding Romania, there is clearly an enormous loss in tourism in our country, in the HoReCa system, as well as in other fields. activity, as a result of the effects of the health crisis (COVID 19), which has recently been correlated with the effects of the economic and financial crisis. Based on the study, using statistical indicators specific to the tourism activity, it was revealed that in all these statistical quantities there are particularly large decreases. If until now tourism contributes, however with a not very large size, to the formation of the Gross Domestic Product, it is obvious that in 2020, the share that tourism will have in the formation of the result indicator Gross Domestic Product will be even lower. From the study carried out, certain conclusions can be drawn on how to act in order to successfully recover the tourism activity as a whole.

In this article, the authors aimed to establish the concrete econometric ways in which market risk can be determined and based on the calculated parameters can be estimated. This study starts from the concrete situation of the occurrence of market risk which is obvious in the conditions in which they appear disturbed from one period of time to another. Through the data available to them, the authors identified and highlighted the advantages of the quantification method, in fact the only method to establish in concrete terms a system of equations on the basis of which to obtain the parameters, which can then be used in estimating market developments in the context of risk. The article comprises a series of calculation relations, some data being introduced in these relations and established, then in equations to underlie the calculations performed. The article has a more theoretical character because it starts from the specialized literature and ensures the implementation of a generally valid method of quantification.

Gross Domestic Product is the most complex indicator of the results of a country’s economy. The Gross Domestic Product expresses the concrete results obtained in the national economy and depending on its evolution, there are also possibilities for increasing consumption, domestic investment and last but not least the possibility of diversification of the national economy. The analysis of the evolution of the Gross Domestic Product was performed starting from the resources and uses that this indicator had in achieving these results. At the same time, the analysis is performed based on the raw data series, but also on the seasonally adjusted data series. In order to highlight the evolution of the Gross Domestic Product, analyzes were performed for periods of time starting with the year 2000, in order to capture the effects of the economicfinancial crisis, but then also for shorter periods of time, 2017-2019 or 2018-2020. All this was done in order to highlight the evolution over time, but also to shed light on the danger that exists in terms of the negative effect of the health crisis, coronavirus, which will certainly have negative effects. Probably if in the second quarter of 2020 we have a decrease in Gross Domestic Product of 12.3%, compared to the first quarter of 2020, it is not excluded that during the third and fourth semesters of 2020 we will also record non-compliant, inconclusive results, which may result in a double-digit reduction in Gross Domestic Product at the end of the year compared to the previous year 2019. The analysis aimed precisely at highlighting these trends and the way in which the structural analysis on different groups of factors (resources, uses and other macroeconomic indicators, inflation, unemployment, foreign direct investment, domestic investment, etc.), have on the national economy. All should have a beginning to restructure strategies to halt the macroeconomic decline and bring it into a position of stabilization and then resumption of growth.

The credit institutions shall apply the measurement approach to a lesser extent to determine capital adequacy. The Basel Accords pay attention to this very aspect of capital sizing in order to be able to finance economic activities, but especially to reduce the effect of the risks caused by capital inadequacy. This study can be performed using statistical-econometric models, based on which to estimate the establishment of the necessary capital. If capital is not adequate (brought to the size of market demand), a number of risks arise that disrupt credit-based financing. Although many credit institutions have chosen the simplest method for determining the capital requirement for operational risk, efforts must be made to use the “standard approach”, thus ensuring the premises for the transition to the “advanced approach”, considered the effective form of operational risk monitoring.

The theory of optimal contracts refers to the market state, in which the bidders, the participants in the execution of transactions, have a certain number of certain information higher or lower. Normally, anyone who concludes a contract, regardless of its nature and we refer to the business environment, seeks to place himself on an optimal solution, i.e. one that according to the Latin principle “aurea mediocritas” gives him a chance to average, but protects him the realization of a contract subject to many risks. Normally, the conclusion of any contract is based on an interest, which starting from the principle of the free market, based on the ratio between supply and demand, may end up in the situation of concluding one or another of the contracts. In the literature the problem of optimal contracts is not so new, only that there is less information and materials published by specialists on this topic. In principle, in the capital market, those operating in the capital market must consider the possibility of concluding a contract on optimal terms. Nowadays, when we are in the Big Data era, in which databases are enormous, it is essential that companies or agencies that mediate business know very clearly the information that underlies the transaction to be concluded. As always, there is a clear enough difference between the level of information held by one or another of the customers. In this article we started the theoretical problem in very synthetic terms, because it is known and we tried to substantiate a model that could be the basis for renting optimal contracts. It should be noted that it started from the utility function, in the sense of von Neumann-Morgenstern, as well as the Lagrange function and last but not least from the Kuhn-Tucker multiplier, often used in microeconomic analyzes based on consistent models. In this article we started from the estimation of the multiplier between two equations to obtain an optimal result. The optimal contract for an agent, best placed, is a solution given by a system of two equations that lead to Pareto optimality, or if you will to Pareto efficiency. On the other hand, the optimal contract in the situation of asymmetric information for the interested agent is the optimal Pareto or Pareto-optimal. In this situation, in this article we took a numerical case, from whose analysis it is clear how the study should be based in the perspective of substantiating the decisions to conclude an optimal contract. Finally, the mathematical model is concretely formulated, imposing some participation restrictions or compatibility restrictions that must always be taken into account by the one who enters the market and wants to conclude an optimal contract. It follows that the model can be simplified, in order to remove some restrictions or to establish that some of them can be satisfied by using the Kuhn-Tucker multiplier. Thus, if a second agent or another market participant signs the contract, he assumes some risks. There are a lot of solutions in the market study, however, and then it must be borne in mind that these contracts are satisfactory if we take into account the conditions of the mathematical model we talked about. In this article we started from the theoretical elements, analyzing them in the mathematicaleconomic sense, in order to reach the relationship that the conditions for concluding an optimal contract imply.

Gross Domestic Product is the most complex indicator of the results of a country. According to the methodology of the national accounts system, it is calculated quarterly and annually. The quarterly calculation of the Gross Domestic Product plays an important role both in establishing the situation at one time of the national economy's outcome, but also in obtaining accurate information about how the national economy has evolved and how it will evolve in the future. The analysis of the Quarterly Gross Domestic Product in 2019 showed an increase compared to the same quarter of the previous year 2018, as compared to the previous quarter. It has been found that overall in the third quarter the activity is a bit slower, i.e. the results are weaker, this probably taking into account the seasonal character of some activities marked during the summer holidays and many others. The analysis of the evolution of the Quarterly Gross Domestic Product was made on the basis of raw data series, but also on the basis of seasonally adjusted data series according to the number of days worked. The results are somewhat close and show an increase of the Gross Domestic Product in the last three years, reaching the end of 2019 to register a provisional increase of the Gross Domestic Product by 4.1%, compared to December or 2018. The analysis also expanded on how resources and uses contributed to the formation and growth of the Gross Domestic Product in each quarter and then annually. Some components of the resources and uses that had a negative effect were highlighted during the analysis, by increasing the price index on the results obtained within the national economy. The analysis reveals a particular model of interpretation and quarterly study, which needs to be carried out in order to identify the stage in which the evolution of the economic activity is and the effect that the measures taken by the authorities in the national development programs have.

The dynamic models used in the micro or macro-economic analyzes appeared as a necessity to correlate the statistical variables divided into the resultant variables and the factorial variables, in order to be able to estimate, by the parameters calculated using statistical-econometric methods and to be able to deduce the correlative influence between those two categories of variables. Macroeconomic models are static or equilibrium, meaning that the static model refers to the data up to the moment, and the equilibrium model is a special case, especially of a dynamic system. The situation of tomorrow is established by investigating how the result variables considered under the influence of factors (statistical variables considered) evolved. Based on the agreed static or dynamic models, the differential equations are established (this starts from the term of the use of derivatives), so as to justify the way in which the relations between the two variables are expressed and their evolution over time. Dynamic models are used at the macroeconomic level to determine the National Income, as the net result indicator that is distributed, redistributed and used to meet the needs of those interested. Dynamic models must be considered as a system in which differential equations refer to two successive periods that can be represented graphically. After all, the dynamic models used in the analyzes must start from the fact that a study was carried out previously based on the statistical data series and then on their graphical representation. A number of elements are considered important in agreeing on dynamic macroeconomic models, such as the evolution of the anticipated price cycle that changes the value, but not the content, most of the times, the structural content of the macroeconomic aggregates.

The currency risk management is a very important aspect, especially in the case of companies that also carry out import-export activities. The currency risk is the one that can bring a series of elements that can be positive in terms of the results of the trading company or negative. Thus, for example, we can discuss the exchange rate on imports, which as it increases determines a price instability on the importer’s market or on export, which as it decreases is favorable for the exporter. In the management of currency risk, volatility, exchange ratio, optimization of the ratio and the specific risks of the commercial bank must be taken into account. The risk management is an issue of utmost importance and it is carried out in several stages, pursuing precise objectives of control and adequacy of currency problems, so as to minimize and eliminate currency risks. This is a problem that is still stressful for Romania, in the context where it is a country that is not part of the Euro-monetary Union and then all intra and extra-EU transactions are made on the basis of the exchange ratio. And the calculation of the macroeconomic indicators of results being performed according to Eurostat requirements and in foreign currency, determines a certain evolution of the most representative indicator of results, namely the gross domestic product. The quantification of currency risk is another matter, which has been emphasized and established which are the issues that commercial banks, economic agents must comply with the regulations and norms of the national bank, the regulator on the banking market.

The education must be considered an important component of any nation. Open and innovative education and training must include the elements of the digital era. Teachers should be a strong supporter in generating training and education. The Bologna program uses transferable credits, which ensure the continuation of education, inventiveness and innovation. In appreciating the quality of primary education, we use the average level of children per teacher. On average, 14 children are recruited in a Member State of the European Union, and in Romania there are about 19 children in a primary school teacher and 17 kindergarten children. The secondary school ensures the continuing education of children, following vocational programs. Tertiary education is carried out by universities or higher education institutions. Expenditure on education must be a priority for each country. Health and education are the two elements of physical and intellectual health of a country’s population. In interpreting this indicator, we take into account the value in absolute figures of GDP, and more realistic, GDP per capita.

An important problem for each country is that of providing serious education in the field of education. This does not exclude the provision of health conditions that will lay the foundation of a profound and complex education. In fact, the Latin word Mens sana in sano body is to build the healthy future physically and intellectually. In this article, we intend to analyze the concrete situation, based on the results of the year, we call it educational, 2017-2018, to identify progress, some shortcomings and especially the short, medium and long term perspective of evolution in this domain. Education is the essential element for improving social behavior, understanding the evolution of the population in line with the complex (globalized) evolutionary trends of mankind. The educational process is one that, without much comment and argumentation, means the enrichment of individuals and generations with complex knowledge about universal evolution, evolution in specialized fields, and, last but not least, the perspective of individual evolution. Within this article, the authors proposed that on the basis of the study on the distribution of the school population by region and on the whole of the country, in the legally established, biologically existing, stages of the preparation and evolution of the population in Romania. In the alternative, elements concerning the distribution of the population by region, the educational level achieved, the availability of teaching staff, the results of the complex training program are just a few of the aspects that the authors propose to carry out and, consequently, bending over of these aspects, allowed some opinions and concretised some conclusions on how this process took place in the newly concluded 2017-2018 school/university year. The article is accompanied by a series of graphs and tables, containing clear data which in the context support the conclusions issued by the authors.

The year 2017 ended with positive results in terms of the working age population (15-64 years). Of the total population, a significant number, almost two-thirds, was in this category, occupied by the population, according to the methodology and terminology used by the official statistics. At the same time, the authors conduct a study on how the unemployment rate evolved, so that the two indicators analyzed in correlation highlight the way in which the economic strategy aims at better employment of the population, simultaneously with the reduction of the unemployment rate. The authors pointed out that some measures had a decisive role to play in improving employment. The two indicators which we have mentioned are analyzed and correlated with the existence of vacancies in the economy, resulting in the fact that from time to time the number of vacancies increased. In the study, there is a greater possibility of using existing jobs, but it is concluded and concluded that measures must be taken to increase the number of jobs in the economy to ensure better employment of the population.

The active population is in three hypostases, occupied population, labor, population above the working age limit, i.e. retired people and the unemployed. An important category is pensioners. This is because, even if they receive a contributory pension, they have to get their rights from the national budget, and thus they can also represent a state of financial impossibility to meet. In the analysis of pensioners, the authors use a series of data, graphs, which they compare and conclude that, at least in Romania, there are some difficulties that put pressure on the status of pensioners. In the study, the authors referred to the evolution of the number of retirees that is sufficiently high compared to the active labor force and, if other categories not involved in the workforce are taken into account, there is a greater difficulty for the population are doing their job, and who through the results of their work have to secure funds, all that is needed for an increased number of the population. The study of the social security pension and pensions in general is another element in correlation with the new pension law that must ensure a precise and constant algorithm in this area that appears to be the most important for the third-age population. European Union directives also refer to the fact that the third-generation population has to be further used, especially in areas where it is highly specialized and can deliver tangible results in certain areas of social and economic life. The analysis is carried out monthly, quarterly, and annually, taking into account the fact that the slightly decreasing workforce due to lower population continues reaching the legal age of being able to work and the number of pensioners who are part of the higher contiguous which increase the number of pensioners in Romania. The situation is also specific because the natural movement of the population is also analyzed on a structural fund, discussing the pyramid of the ages, we can discuss about an elderly population in Romania.

In this article, the authors sought to analyse a longer period, since 1948 (when the process of nationalization of industry, banking, insurance, mining and transportation) took place until today. In this context, the authors try to suggest through the study of the figures, the data and the legislative framework, step by step, how it evolved and why the Romanian industry is currently at the stage it is. There are references to the conditions that led to the process of nationalization of the industry and of other private properties in the national economy, concluding that in 1989 the Romanian economy was fully staged and the industry was developed according to other criteria than the economic efficiency. Thus, one of the criteria was the uniform distribution throughout the country of industrial objectives to ensure the use of labour force.

In this paper, the authors refer to the unemployment and inflation evolution in Romania. The main topics approached in the paper follow the evolutionary trend of the unemployment, the unemployment structure and evolution in territorial profile. The second part of the paper is an analysis on the inflation phenomenon that affects the economy of Romania, and the authors have chosen to apply an econometric model to describe the influence of the inflation has on the Gross Domestic Product. The relevant datasets are presented in the paper, together with appropriate discussion and analysis based on them.

This paper treats the dynamics of human resources in the Romanian economy. The author focus on important topics regarding the analysis of human resources. After a general overview on the high level indicators, the study focuses on the education degree of the population, the working time usage, the age distribution, employment in secondary activities, the indicators of inactive population. Also, the discouraged population is studied, on the basis of specific indicators. The regional aspects are treated in the valuation of the active population. The authors make use of suggestive charts and tables to present the result indicators which form the output of their research. The figures and the correlations between them are commented in detail.

In this article, the authors focus on the study of health as a fundamental element in having a population and, as a consequence, a work force capable of performing efficient activities. A comparative analysis of the current situation, from this point of view, in the European Union and the Member States, is highlighted, highlighting the shortcomings that occur. This article refers to the cost of maintaining health and the financial potential of each Member State. The focus is on the conditions in hospitals, the coverage of needs through the existing network, the facilities and, last but not least, the quality of the medical staff involved in the health field. From the comparative study undertaken, it follows that Romania still has a lot to do in order to reach a suitable, truly European standard. Measures are needed to determine the medical staff to accept their stay in the country. Data from the Eurostat source is used to highlight the arguments made by the authors.

Vocational education and training is a vital goal in both economic and social contexts. The opportunities that the European Union and its Member States offer to their citizens for living conditions, studies and jobs are major contributions, which together with the understanding and realization of a social culture of every citizen is a priority. Each year, more than one million citizens, of all ages, benefit from vocational education and training in national programs. Cooperation between Member States has taken a momentum in 2010 when programs have been established integrating a range of young people and people of other ages into the path of intellecttual development, education and training in line with the program adopted in 2009 by the European Council and Targeting measures by 2020. There is a set of measures under 4 strategic objecttives that address education and which include long-term learning and mobility. The second is to improve the quality and efficiency of education and training, then to promote social equality, the cohesion and active involvement of citizens in social and economic life, and last but not least, creation and innovation, which must be respected at all levels Training of the population.

Analysis of economic growth operates with a number of aggregate macroeconomic concepts such as population growth, production growth, unemployment, changes in the number of labour, etc., all these being the elements that are used in the analysis of economic development. The authors wanted to present in this article some economic considerations which constitute the base of economic growth forecast. Economic growth can be analysed static, at a certain time, dynamic by comparing the indicators, characterizing economic growth over a period of time but more importantly is forecasting economic growth. In this respect are elucidated the main concepts of the theory of economic growth and summarized the theoretical background on which forecast economic growth can be achieved.

In this article, the authors propose to analyze the European Union’s Strategy for Improving Living Conditions on a total, as well as in each country part of the Community. The European Commission considers the need to ensure respect for fundamental human rights, aiming to implement a program to ensure economic well-being and social cohesion. This article will devote a space of social inclusion that can be expressed by monetary or non-monetary indicators that highlight the danger of poverty risk that is different from one country to another. A number of countries have made significant progress in improving living conditions, with others experiencing even more negative aspects. To highlight these elements, the authors analyzed income levels and their distribution across Member States, ranking hierarchically on the basis of these indicators a number of countries where immediate action is needed to ensure a level playing field. The study highlights the inequality of revenue distribution, suggesting the need for important measures, especially in those countries where there are lagging behind. Concretely, an analysis is made of the existence of adequate incomes as a fundamental requirement for housing in all EU countries. And here are hierarchies that highlight the situation of each state. In the final part, the authors focus on the social protection that needs to be ensured by each country. On this background, an analysis of Romania’s situation was carried out resulting in vigorous measures being taken under the heading of Living Conditions of the Population.

At the level of national economy, the essential problem is that of the use of financial resources. Of course, every society has its own resources, but that they are not always sufficient. To operate in a free market economy appears very often need to turn to the Bank’s resources in the form of loans. Credit implies the existence of credit resources on the part of the banking system but, at the same time, it raises the question of the relationship between monetary mass in circulation and monetary mass necessary to ensure market equilibrium required. The banking system is defined and represented in the two sub-sectors, namely: monetary authorities that it is a country’s National Bank and the system of commercial banks. Great economists have noted that the imbalance between the monetary mass necessary and the monetary mass in circulation may be, at some point, a problematic leading to financial crisis and broader financial and economic crisis. In this article we try to make an analysis based on data sources that stand available to any researcher. Thus, as a first idea, we discuss about the Central Bank’s balance sheet, one that offers the possibility of calculating the balance of equilibrium equation which shows a series of correlations are established on the market. The second source of analysis and interpretation of this market is the aggregate balance sheet of commercial banks. Based on this balance sheet is calculated the balance sheet equation which can give an accurate picture on the ratio between the requirements and possibilities. Also, in the article we referred to the monetary situation, especially consolidated monetary situation, one who has existing monetary mass market in passive, and international reserves and net domestic assets, in assets which are and must be in balance, i.e. the two indicators of assets must equal monetary mass so that no imbalances. In the article, we refer to the main correlations between monetary aggregates to embrace the situation at a given time and to be able to conclude that evolution can be perspective in this area.

In this paper, the authors present some models useful for the analysis of the Gross Domestic Product. The study capitalizes official data published by the National Institute of Statistics from Romania. As the principal indicator of the macroeconomic results in the national economies, the Gross Domestic Product is influenced by a variety of factors, whose impact can be estimated with the help of appropriate models. After presenting some aspects on the evolution of Romania’s Gross Domestic Product, the authors propose a set of econometric models, based on the simple and multiple regression approach, which are able to measure the impact of final consumption, on one hand, and the turnover of the companies acting in the retail sector, on the other hand, on the main indicator considered in the research. The models are tested against Rsquared and Adjusted R-squared parameters, and the results of estimations are further explained.

In this paper, the authors study the correlation between the incomes and expenses of the population. The analysis is based on proper indicators that are the evolution of total income and expenses with the household as aggregate factor, the coverage of expenses through the incomes. Also, the total indicators were explained. The main categories of households taken into consideration were employees, unemployed, farming households and retirees. The statistical analysis covers the interval 2010-2014. In order substantiate the results of the research, an econometric model is presented, based on the datasets for gross available incomes and private consumption. The authors first analyse the statistical characteristics of the two variables, then observe the potential correlation through a dot plot chart. After ascertaining the opportunity to estimate a regression model, the parameters of the corresponding equation are deducted with the help of a dedicated software system. The results of the model are analysed and the path for further researches is emphasized.

The purpose of this study is to examine the effects of research-development expenditures and innovation on income using new generation panel data analysis for 11 EU countries. We found that that if research-development expenditures and innovation goes up by 1%, income, on average, raises by 0.19% and 4.05%, respectively.

In order to fully beneficiate of the results of research and development innovations, young SMEs and startups need to be supported in early development stages through direct and indirect interventions. The following proposals are based on the analysis of the financial market failures and the corresponding priorities set by the Partnership Agreement signed between Romania and the European Commission, as well as the objectives of the approved operational programs related to the financial instruments financed by the European Structural Funds and Investment.

Operational risk is a matter concerning the financial and banking system. Many credit institutions have adopted as practice the listing of the risk categories, analyzing each and deciding whether they should be reported separately under a controlled risk management (market risk and the credit risk). Managing the operational risk of a bank implies using proved econometrical models that help address the issues in a validated and efficient way in order to mitigate associated risks like the operational and insolvency.

In this paper, the authors analyse the asymptotic normality for the estimation of singular equation. The case considered covers the population with sensitive instruments. The relevant models and hypotheses are exposed and explained; also the significant correlations revealed by the equations are emphasized.

The measurement of the correlations between macroeconomic variables, including the cause-effect links, provide useful information for policy makers in the government and public agencies. Especially important is the system of relationships that reveals the influence of certain factors on the Gross Domestic Product. This paper outlines the influence of the unemployment, measured through the unemployment rate, the inflation. Also, the authors discuss the correlations of the economic growth.

This paper will focus on the possible correlation between the evolution of the final consumption and the dynamics of the Gross Domestic Product. The authors have applied the linear regression method in order to draw a coherent model, whose parameters were tested by using proper instruments.

In this paper, the authors present an analysis model designed to outline some of the Gross Domestic dependences, on the case of Romanian economy. The study is based on the VAR methodology, and the steps pursued in the article are the study of evolution for Final Consumption, direct foreign investments flow and GDP, the presentation of the estimated VAR models, the testing for the number of lags, the testing for the stationery of the first difference of the data series.

This paper emphasizes the application of regression models in macroeconomic analyses. The particular situation approached is the influence of final consumption and gross investments on the evolution of Romania’s Gross Domestic Product. The results of such research are supposed to contribute to deeper and more complex analyses of the GDP, the main indicator that shows the performance of a national economy. The dataset is made of official figures drawn from the Romanian Statistics authority, and the analysis is performed with the help of the Eviews software. The proposed model was tested by using proper instruments, the results of the tests are also presented in the paper.

The stock exchange markets are characterized by high dynamics of the investment activity, mainly portfolio investments. The existing relation between yield and risk, on one side, and the portfolio diversification, on the other side, are two basic aspects allowing the investors to build up a portfolio founded on the yield and risk targets which they are aiming. In the frame of this article we have applied the Marcowitz model on a number of portfolios of equities issued by commercial companies listed at the Bucharest Stock Exchange on the main REGS market.

In the frame of this article we submitted the practical possibilities to analyse the stock market activity in Romania, by means of the linear regression model. Thus, the study is focusing on the existing correlations between the yield of a portfolio formed by ten financial assets issued by companies quoted on the main market at the Bucharest Stock Exchange and the overall evolution of the capital market in Romania, expressed with the help of the Bucharest Exchange Trading index. A linear regression model implies that the methods used for estimating the two parameters, the methods applied for testing the properties of the regression model estimators as well as the main aspects concerning the utilization of the regression model in making predictions are well known.

The occupied population includes all persons – both employees and freelancers – who develop a productive activity within the production limits of the European Accounts System. In this figure it is included the number of employees determined in compliance with the accounts that take into consideration both data sources used to determine the cost of labor force occupation, such as the Survey on labor force in households (AMIGO), the Inquiry regarding the cost of labor force (S3), Annual structural survey in enterprises (ASA), and also administrative data sources (information provided by the Ministry of Foreign Affairs, Ministry of Labor, Family and Equality of Chances, Ministry of Interior and Administrative Reform etc.), accounting situations of commercial companies.

The macroeconomic results indicators have recorded a disastrous trend over the period January 2009 - January 2012 as a result of the effects of the economic and financial extended crisis, worsened by the extended political and moral crisis, the lack of efficiency of the government activity and lack of a coherent anti-crisis program, based on pro-active steps.

This paper analyzes the recent evolution of the population and labor resources in Romania. The occupied population, according to the SEC methodology, is the sole entity that indicates the human potential of the occupied labor force that can be used to determine the social productivity of labor as a ratio between the GDP and the occupied population.

In the authors meaning, this work submits the merits of utilizing the chain based system for building up the price indices within the time series comparatively with the utilization of the fix base system. Meantime, the authors are emphasizing the different properties, axioms or tests, which might be satisfied by an index formula.

With this work, the authors are submitting the main theories, which led to the definition of the concept of “inflation”, pointing out the successive acceptations, which the economists – starting with classics, Adam Smith’s contemporaries – have granted, over the time, to this economical phenomenon. Thus, at a first phase, the term of inflation was connected to currency, later on to money while presently it is commonly used for describing prices. This change of paradigm seems to originate in a sequence of unhappy events, probably unavoidable.

The industrialization process, accelerated in the last decades of the 20th century and continued in the 21st century, determined, together with the beneficial effects manifested in the increase in quality of life, the appearance of some pollutants, especially in the areas where people live, work and entertain themselves. The risk is a situation/condition/event that, if occurs, generates an unfavorable effect both on the objectives, resources and reputation of the organization and on the successful achievement of its tasks/activities/mission. The environmental risk can manifest itself under the form of stressors (risk factors) generated by the human activity/inactivity and can generate adverse effects on the environment, and also the degradation and loss of sustainability. In order to ease the evaluation of the status/quality of the environment and facilitate the reporting and communication of the environmental performances of an organization, the present paper synthetically presents a series of environmental indicators, and also the description of the essential requirements of the voluntary environment standards in the ISO 14000 series.

Discriminant analysis is a supervised learning technique that can be used in order to determine which variables are the best predictors of the classification of objects belonging to a population into predetermined classes. At the same time, discriminant analysis provides a powerful tool that enables researchers to make predictions regarding the classification of new objects into predefined classes. The main goal of discriminant analysis is to determine which of the N descriptive variables have the most discriminatory power, that is, which of them are the most relevant for the classification of objects into classes. In order to classify objects, we need a mathematical model that provides the rules for optimal allocation. This is the classifier. In this paper we will discuss three of the most important models of classification: the Bayesian criterion, the Mahalanobis criterion and the Fisher criterion. In this paper, we will use discriminant analysis to classify the insurance companies that operated on the Romanian market in 2006. We have selected a number of eigth (8) relevant variables: gross written premium (GR_WRI_PRE), net mathematical reserves (NET_M_PES), gross claims paid (GR_CL_PAID), net premium reserves (NET_PRE_RES), net claim reserves (NET_CL_RES), net income (NE—_INCOME), share capital (SHARE_CAP) and gross written premium ceded in Reinsurance (GR_WRI_PRE_CED). Before proceeding to discriminant analysis, we performed cluster analysis on the initial data in order to identify classes (clusters) that emerge from the data.

The statistics of the general insurances activity is largely used in the actuarial calculations. The actuarial analysis are achieved exclusively on the basis of primary and derived indicators, which are drawn up by various statistical methods. The statistical indicators which are used in this respect are obtained on the basis of the factors and conditions allowing the compensation cases to occur. The actuarial analysis is performed over the time as well, by using the chronological which allow the decomposition of the phenomenon being studied by its factors of influence. In this article, after briefly presenting a number of point of view regarding the utilization of the statistical indicators in the actuarial analysis, we have analyzed, successively, a series of issues, such as: the statistical indicators as regards the general insurances fund forming, expressed in physical and value units, or as absolute, relative and average volumes; the statistical indicators of the utilization of the general insurances funds (with the same diversified form of expression) and the statistical indicators of the outcomes of the general insurances activity. A particular accent went to the underlying of certain methodological aspects regarding the calculation of the above mentioned indicators, emphasizing certain particular characteristics concerning their utilization in the frame of the actuarial analysis. The article is stressing the clarification of the fact that these indicators are used in the actuarial analysis as a real system. The respective proportions are enumerated, by underlying the concrete possibilities of computation, which secure the possibility of performing the necessary analysis involved by a decisional process.

Co-insurance is a concept defined by several people as simultaneously insurance in the amount deposited in advance warranty. In the present article we shall consider a risk averse agent with an initial wealth that supports a risk of loss. Supposing that for every euro paid as damages by the insurance policy, the insurer incurrs a one-off transaction costs. Obviously, more complex structures are also possible cost. If we add these transaction costs to the expected costs of damage in the first plan insurance payments must be equal. Level λ is often considered as an influential factor or source of profit and loss. So, if spending rises to 10 lei for every 100 lei of the damage, the insurer will add 10% to competitive actuarial value of an insurance policy in order to cover these expenses.

In this paper, the authors will examine the effect of changing various parameters of the issue of optimal rate coinsurance. a natural question that arises relates to the effect of an increase in risk aversion insurance claim. we believe that st ha agent is more risk averse than two agents, one agent should have an insurance claim agent greater than two.

The work is focusing on the main proportions and correlations which are being set up between the major macroeconomic indicators. This is the general frame for the analysis of the relations between the Gross Domestic Product growth rate and the unemployment rate; the interaction between the inflation rate and the unemployment rate; the connection between the GDP growth rate and the inflation rate. Within the analysis being performed, a particular attention is paid to �the basic relationship of the economic growth� by emphasizing the possibilities as to a factorial analysis of the macroeconomic development, mainly as far as the Gross Domestic Product is concerned. At this point, the authors are introducing the mathematical relations, which are used for modeling the macroeconomic correlations, hence the strictness of the analysis being performed.

Using the short-run statistic indicators is a compulsory requirement implied in the current analysis. Therefore, there is a system of EUROSTAT indicators on short run which has been set up in this respect, being recommended for utilization by the member-countries. On the basis of these indicators, there are regular, usually monthly, analysis being achieved in respect of: the production dynamic determination; the evaluation of the short-run investment volume; the development of the turnover; the wage evolution: the employment; the price indexes and the consumer price index (inflation); the volume of exports and imports and the extent to which the imports are covered by the exports and the sold of trade balance. The EUROSTAT system of indicators of conjuncture is conceived as an open system, so that it can be, at any moment extended or restricted, allowing indicators to be amended or even removed, depending on the domestic users requirements as well as on the specific requirements of the harmonization and integration. For the short-run analysis, there is also the World Bank system of indicators of conjuncture, which is utilized, relying on the data sources offered by the World Bank, The World Institute for Resources or other international organizations statistics. The system comprises indicators of the social and economic development and focuses on the indicators for the following three fields: human resources, environment and economic performances. At the end of the paper, there is a case study on the situation of Romania, for which we used all these indicators.

Poverty represents a life aspect which is focusing the attention of both the macroeconomic analysis and the international comparisons. In order to measure the level being recorded by this phenomenon, there is a system of indicators which are used in order to underline, in a correlated manner, a number of aspects which are characterizing, quality and quantity wise, the evolution of the poverty in a specific country or, to a larger extent, through comparative surveys, at international level. Despite the fact that they are not the only instrument being used within the process of comparison of the stages of social and economic development at the international level, however the poverty indicators are providing a clear significance to the worked out surveys. In fact, the very purpose of the economic activity consists of increasing welfare and, as much as possible, at least reducing, if not eradicating, the poverty. The present work is broadly presenting the methodology as well as, both theoretical and practical, the way of computing the poverty, making a synthesis of the specific used indicators.

This article intends to present tendencies in the regional industry and specialisation in Romania during the transition period. The authors present the main tendencies in the analysis of concentration and specialisation and industry developments by electoral cycles as well. An econometric model for the analysis in time of concentration and specialisation in Romania during the transition period is also presented.

The material is presenting, under an adequate structure, an analysis of the environment of Romania. The starting point of the study is given by the natural conditions, influenced by the geographic location of Romania on the globe, evidencing the main characteristics (relief, hydrographic basin, climate, flora and fauna etc.). Afterwards, the material is pointing out the concerns as well as certain outcomes achieved in our country in the field of the environment protection. Particularly, there is the concern regarding the durable development which is emphasized, along with the part that the environment protection should play under the circumstances. Then, the material is evidencing the essence of the policies concerning the environment protection as well as the transitory steps implied in this field by the adhesion of Romania to the European Union.