Why is this Financial Crisis Occuring? How to Respond to It?

by Nicolae Balan, Mariana and Vasile, Valentina
Published in Romanian Journal of Economic Forecasting
, 2008, volume 9 issue 4, 174-195

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Globalisation is manifest under the form of some globalising processes, respectively the basic operational-action assembly for successive achievement of the purposes and objectives proposed within each stage. Globalisation and demography are the two main forces that model the development of contemporary societies and implicitly of the European one. Both provide for opportunities but also raise issues. Based on the Bosco Model we highlight the interdependency between the decision to migrate and the migratory balance between similar countries, with the exception of labour market, under the conditions in which wages are endogenously determined. The existence of some differences was assumed also between the semi-elasticity of wages in relation to unemployment rates.

Keywords: globalisation, demographic evolution, migration flows, modelling the mobility of labour force
JEL Classification:
C52, C59, J11, J19