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The Impact of Unemployment on the Economic Growth in Romania

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  • Paula Alexandra Roibu Crucianu

    (“Alexandru Ioan Cuza†University of Iasi)

Abstract

Unemployment is a macroeconomic indicator that reflects the inability of an economy to fully utilize labor resources. The phenomenon itself is based on the concentration of the social-economic activity, the improvement of the means of production with high efficiency, the greater supply of people able to occupy the available places in the economy than their real number or the synchronization of the labor supply and the available places at regional or national level. The number of unemployed, has two negative effects: the economic effort of the payment of unemployment aid and the existence of a percentage of the labor resource that cannot be used to increase the production of goods and services. The analysis of the data series regarding the unemployment rate reveals the labor market availability and the inability to assimilate the national economy, which we’ll analyze using some suitable econometric models.

Suggested Citation

  • Paula Alexandra Roibu Crucianu, 2019. "The Impact of Unemployment on the Economic Growth in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 174-179, December.
    • Handle: RePEc:ovi:oviste:v:xix:y:2019:i:2:p:174-179
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    References listed on IDEAS

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    More about this item

    Keywords

    unemployment; economic growth; productivity; labor market;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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