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  Nominal GDP And Macroeconomic Policy Choice: St. Louis Model Estimates

  In this study, we investigate the question of whether monetarist or Keynesian policies were more effective on GDP growth in Turkey. To this aim, we employ the St. Louis model and examine the statistical significance of the estimated parameters. The effects of changes in money supply or government expenditures on GDP growth are not only limited to ... In this study, we investigate the question of whether monetarist or Keynesian policies were more effective on GDP growth in Turkey. To this aim, we employ the St. Louis model and examine the statistical significance of the estimated parameters. The effects of changes in money supply or government expenditures on GDP growth are not only limited to the current period but might continue over time as well. Hence, we also include the lagged values of the explanatory variables in the model. The estimation period covers the 1981 – 2008 period. The model is estimated by OLS and captures the accumulated effects of the changes in the narrow and wide definitons of money supply (M1 and M2) and government expenditures on the growth of nominal GDP growth. These estimates correspond to the total or distributed lag multipliers for monetary and fiscal policies. The former is not found to be statistically significant whereas the latter is statistically significant. These findings indicate that Keynesian policies based on expansionary fiscal policy via increased government expenditures had more influence on GDP growth in Turkey than the monetarist approach. These results also reflect the various governments’ populist approaches for political purposes. Overall, we find that the St. Louis equation approach is a valid and applicable model in the Turkish case.

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  Assessment of the Expected Impact of the Structural Funds according to the HERMIN Model applied on the Labor Market

  The current research is focused on the problem of the impact of the Structural funds on the labor market I Bulgaria. The special attention is given to the future impact on the market and resulted market situation, based on the solutions of the problem for achieving more precisions prognosis of the upper impact. The prognoses trends of the HERMIN ... The current research is focused on the problem of the impact of the Structural funds on the labor market I Bulgaria. The special attention is given to the future impact on the market and resulted market situation, based on the solutions of the problem for achieving more precisions prognosis of the upper impact. The prognoses trends of the HERMIN model are defined as cyclical functions of the time for more accurate description of the labor market changes – employed people, the population under labor active age and the people in pension too.

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  Personal Selling: Element of IMC and Influence on Customer Satisfaction

  In the article on focus is the Personal Selling as an element of Integrated Marketing Communication. Derived are the benefits of the Personal Selling, mainly in comparison with Direct Marketing and Promotions. The specifics of the Personal Selling are being analyzed in terms of the communications mix. As far as they appear simultaneously an ... In the article on focus is the Personal Selling as an element of Integrated Marketing Communication. Derived are the benefits of the Personal Selling, mainly in comparison with Direct Marketing and Promotions. The specifics of the Personal Selling are being analyzed in terms of the communications mix. As far as they appear simultaneously an element of the Integrated Marketing Communications, but inherently they are kind of retail, and in its two manifestations they influence on the customers’ satisfaction. That’s why it’s important that we know the process of establishing the satisfaction, as well as its elements, on which the personal sales might have stronger influence. The satisfaction isn’t just the lack of disappointment, for that both should be independently explored and observed in practice. There are three main influential elements of the satisfaction – reversibility, status quo and valence; they are object of study as well.