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The Analysis Of Equity-Efficiency Trade-Off In The European Union Economy

Author

Listed:
  • Socol Cristian

    (Academy of Economic Studies, Department of Economics, Bucharest)

  • Socol Aura Gabriela

    (Academy of Economic Studies, Department of Economics, Bucharest)

  • Marinas Marius-Corneliu

    (Academy of Economic Studies, Department of Economics, Bucharest)

Abstract

The European Union’s economic evolution for the last sixty years is specific to the long term stages of the economic cycle, of Kondratieff type. The economic expansion period has been characterized by a higher efficiency level (growth in productivity, in the labour occupation degree) which favoured the reducing of the inequalities related to incomes through the redistribution process. The economic recession stage showed that, under the terms of an increased unemployment, of a low aggregate demand and of a less flexible aggregate supply, the economic efficiency level is relatively lower. On these conditions, the providing of social equity (of the cohesion) will affect negatively the efficiency degree, fact which will extend the period of economic recession within The European Union.

Suggested Citation

  • Socol Cristian & Socol Aura Gabriela & Marinas Marius-Corneliu, 2008. "The Analysis Of Equity-Efficiency Trade-Off In The European Union Economy," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 2(1), pages 442-448, May.
    • Handle: RePEc:ora:journl:v:2:y:2008:i:1:p:442-448
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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
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    3. McQuinn, Kieran & Whelan, Karl, 2006. "Conditional Convergence Revisited: Taking Solow Very Seriously," Research Technical Papers 7/RT/06, Central Bank of Ireland.
    4. Cécile Denis & Kieran Mc Morrow & Werner Röger, 2006. "Globalisation : trends, issues and macro implications for the EU," European Economy - Economic Papers 2008 - 2015 254, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
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    More about this item

    Keywords

    economic growth; labour productivity; economic recession; total factor productivity;
    All these keywords.

    JEL classification:

    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • F10 - International Economics - - Trade - - - General
    • A10 - General Economics and Teaching - - General Economics - - - General

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