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Plamen Petkov
Algorithm for Econometric Estimation of the Aggregated Production Function by Transcendental Logarithmic (translog) Approximation
Summary:
The study analyzes the dependence of gross domestic product of the number of employees and gross fixed capital formation in Bulgaria with the help of the aggregate production function. Based on quarterly data, which covered the first quarter of 1996 to the first quarter of 2007, is examined the elasticity of substitution of production factors. It is tested three types of production functions – a production function with variable elasticity of substitution of factors (VES-function), a production function with constant elasticity of substitution of factors (CES-function) and classical Cobb-Douglas function. Estimates of the parameters were obtained with the least squares method, applied to transcendental logarithmic (translog) approximation of the production function.
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Ninel Nesheva Kiosseva
Environmental Management and the Impact of Regulation in Bulgaria
Summary:
In placing increased emphasis on good environmental management, the Bulgaria government began providing resources on environmental management, such as guidance documents, case studies, and benchmarking studies. It also motivates businesses to understand the full spectrum of environmental costs and incorporate these costs into decision-making. Some of the difficulties are non-uniform definitions and non-uniform executions, and lack of comparable information. The report discusses the needs for good quality information to be available to both managers and society before further advances can be made.
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Nikolay Stoenchev, Yana Hrischeva
Investment Appeal of Residential Real Estate Property in the City of Sofia
Summary:
The current study is focused on the residential real estate property market in the city of Sofia. It examines different options for assessment of investment return on three of the most widespread types of residential housing property – studios, one-bedroom and two-bedroom flats – by residential district in the city of Sofia. A comparative static analysis has been performed according to housing location as well as a dynamic analysis in relation to a past period. For the groups of the most appealing locations, graphs have been plotted of investment return dynamics per month, for a one-year period, which reveal the seasonal character of the changes in the indicator examined. The most recent mass data are used, meeting the requirements for calculating reliable unifying characteristics. Major priorities and objective laws have been worked out, benefiting both theory and practice.