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Mihal Stoyanov
Impact of the Covid-19 Pandemic on the Retail Trade in Bulgaria
Summary:
This paper reviews the reaction of retail trade in the Republic of Bulgaria and around the world as a consequence of the declaration of a state of emergency related to the spread of COVID-19 virus infection. The actions of the trade operators regarding the various changes in the behavior of the consumers and the establishment of standards for work are systematized, in accordance with the measures for anti-epidemic control taken by the local and national bodies, the recommendations of the European Commission and the World Health Organization. The unpredictable development of the global epidemiological situation has brought new challenges to address the emergency situation and to create standards and protocols for working under conditions of increased requirements for social distance, hygiene and disinfection. The established measures put retailers in the first line of protection in the unprecedented health crisis of our time.
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Veniamin Todorov
Modelling Uncertainty During the COVID-19 Crisis
Summary:
The study analyses the levels and the dynamics of uncertainty as a fundamental element of the macroeconomic environment during the COVID-19 crisis. The focus is on the modelling of uncertainty on the basis of the market approach for quantifying it. The process of modelling results in the calculation of indicators through which a comparative empirical evaluation is done. In terms of the economies included, the comparative analysis encompasses the EU and the United States. The analysis is conducted on two levels that go side by side and complement each other. The first one consists of comparing the periods for the concrete economy. The results show similar trends for the EU and for the United States. For the three periods, defined in the study, the sequence of the changes does not differ for the two economies. The second level includes a comparative analysis of the same periods between the economies. The results exhibit a considerable similarity in the levels of uncertainty. For the first two periods the differences are not even statistically significant. For the third period, however, there is a greater difference which is characterized by statistical significance.
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Yordan Yordanov, Zhaneta Angelova
The Public Pension System in the Conditions of Covid-19 – Short-Term Effects and Long-Term Challenges
Summary:
The emergence and spread of Covid - 19 in late 2019 and early 2020 posed an unexpected challenge to the development and progress of modern society. A series of restrictions aimed at limiting the spread of the disease have had an adverse effect, both economically and socially. Overcoming the unfavourable consequences of the pandemic is becoming a priority for the development of modern society, engaging a significant amount of public resources and testing the mechanisms of social protection systems. The aim of this study is to highlight the short-term effects and long-term challenges facing the public pension system in pandemic and post-pandemic environments, as a basis for outlining the directions of its development and improvement.
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Lyudmil Naydenov
State, Dynamics and Trends of Household Income under the Covid-19 Conditions
Summary:
This paper examines the relationship between household income, financial stability and well-being under the COVID-19 conditions in Bulgaria. Based on the definition of the total and monetary household income, the paper outlines its theoretical bases, scope, structure and specific characteristics. It analyzes the dynamics of the total and monetary household income, proving that it depends directly on the global pandemic situation provoked by COVID-19. It also justifies the need to rationalize the management of household income in the short and long term to achieve the financial goals, set in the household budget, and improve household’s well-being. The object of study in this paper is household income, and the subject is defined as the highlighting of factors that affect the state, dynamics and trends in the development of the object of study in recent years in the Republic of Bulgaria. The conclusion is that the rational management of household income in the short, medium and strategic horizon is a prerequisite for the households’ financial stability and achievement of the goals set, complied with the households’ financial capabilities.
