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n\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart Pg1}{\bkmkend Pg1}\par\pard
\ql \li4437\sb0\sl-1035\slmult0 \par\pard\ql\li4437\sb0\sl-1035\slmult0 \par\par
d\ql\li4437\sb114\sl-1035\slmult0 \up0 \expndtw0\charscalex96 \ul0\nosupersub\cf
1\f2\fs90 TEMA 5 \par\pard\ql \li6079\sb40\sl-218\slmult0 \up0 \expndtw-2\charsc
alex100 \ul0\nosupersub\cf2\f3\fs18 \u8226? \par\pard\ql \li4135\sb98\sl-441\slm
ult0 \up0 \expndtw0\charscalex95 \ul0\nosupersub\cf4\f5\fs48 Infla\u355?ia \u351
?i \u351?omajul \par\pard\ql \li2858\sb0\sl-218\slmult0 \par\pard\ql\li2858\sb0\
sl-218\slmult0 \par\pard\ql\li2858\sb0\sl-218\slmult0 \par\pard\ql\li2858\sb0\sl
-218\slmult0 \par\pard\ql\li2858\sb12\sl-218\slmult0 \up0 \expndtw-8\charscalex8
1 \ul0\nosupersub\cf6\f7\fs18 7.1. \ul0\nosupersub\cf7\f8\fs18 Infla\u355?ia n ec
onomiile moderne \par\pard\ql \li2858\sb2\sl-218\slmult0 \up0 \expndtw-8\charsca
lex80 \ul0\nosupersub\cf6\f7\fs18 7.2. \ul0\nosupersub\cf7\f8\fs18 Explicarea in
fla\u355?iei prin teoria cantitativ\u259? a banilor \par\pard\ql \li2858\sb2\sl218\slmult0 \up0 \expndtw-8\charscalex81 \ul0\nosupersub\cf6\f7\fs18 7.3. \ul0\n
osupersub\cf7\f8\fs18 \u350?omajul \par\pard\ql \li2858\sb2\sl-218\slmult0 \up0
\expndtw-8\charscalex80 \ul0\nosupersub\cf6\f7\fs18 7.4. \ul0\nosupersub\cf7\f8\
fs18 \u350?omajul \u351?i infla\u355?ia \par\pard\ql \li2858\sb2\sl-218\slmult0
\up0 \expndtw-8\charscalex80 \ul0\nosupersub\cf74\f75\fs18\ul 7.5. \ul0\nosupers
ub\cf75\f76\fs18\ul Aspecte dinamice\ul0\nosupersub\cf7\f8\fs18 ale \u351?omaju
lui \u351?i infla\u355?iei \par\pard\ql \li2791\sb34\sl-253\slmult0 \up0 \expndt
w-6\charscalex100 \ul0\nosupersub\cf8\f9\fs22 Termeni-cheie \par\pard\li2791\sb0
\sl-218\slmult0\par\pard\li2791\sb24\sl-218\slmult0\fi0\tx5457 \up0 \expndtw-6\c
harscalex100 \ul0\nosupersub\cf2\f3\fs18 Infla\u355?ie trtoare\tab \up0 \expndtw-6
\charscalex100 \u350?omaj structural\par\pard\li2791\sb0\sl-218\slmult0\fi0\tx54
57 \up0 \expndtw-6\charscalex100 Hiperinfla\u355?ie\tab \up0 \expndtw-6\charscal
ex100 \u350?omaj conjunctural\par\pard\li2791\sb1\sl-213\slmult0\fi0\tx5457 \up0

\expndtw-6\charscalex100 Infla\u355?ie prin costuri\tab \up0 \expndtw-6\charsca


lex100 \u350?omeri BIM\par\pard\li2791\sb1\sl-218\slmult0\fi0\tx5457 \up0 \expnd
tw-6\charscalex100 Infla\u355?ie prin cerere\tab \up0 \expndtw-6\charscalex100 \
u350?omaj sezonier\par\pard\li2791\sb1\sl-216\slmult0\fi0\tx5457 \up0 \expndtw-6
\charscalex100 Curba infla\u355?ie-salarii\tab \up0 \expndtw-6\charscalex100 Rat
a natural\u259? a \u351?omajului\par\pard\li2791\sb1\sl-214\slmult0\fi0\tx5457 \
up0 \expndtw-6\charscalex100 \u350?omaj\tab \up0 \expndtw-6\charscalex100 Curba
Phillips\par\pard\li2791\sb0\sl-218\slmult0\fi0\tx5457 \up0 \expndtw-6\charscale
x100 Rata \u351?omajului\tab \up0 \expndtw-6\charscalex100 Anticipare
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l-299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl-29
9\slmult0 \par\pard\ql\li3197\sb60\sl-299\slmult0 \up0 \expndtw-7\charscalex100
\ul0\nosupersub\cf13\f14\fs26 7.1. Infla\u355?ia n economiile moderne \par\pard\q
j \li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\ri2284\sb14\sl-260\slmult0\fi67
8 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf14\f15\fs22 Infla\u355?ia este
procesul de cre\u351?tere semnificativ\u259? \u351?i persistent\u259? a nivelul
ui \up0 \expndtw-2\charscalex100 mediu al pre\u355?urilor.\ul0\nosupersub\cf15\f
16\fs22 \ul0\nosupersub\cf11\f12\fs22 De asemenea, \ul0\nosupersub\cf16\f17\fs2
2 infla\u355?ia mai poate fi definit\u259? prin sc\u259?derea \up0 \expndtw-5\ch
arscalex100 puterii de cump\u259?rare a unei unit\u259?\u355?i monetare\ul0\nosu
persub\cf11\f12\fs22 (respectiv a cantit\u259?\u355?ii de bunuri \u351?i \up0 \
expndtw-6\charscalex100 servicii ce poate fi achizi\u355?ionat\u259? prin interm
ediul unei unit\u259?\u355?i monetare). \par\pard\qj \li2519\ri2283\sb0\sl-260\s
lmult0\fi677 \up0 \expndtw-1\charscalex100 De obicei, o cre\u351?tere a nivelulu
i mediu al pre\u355?urilor de sub 1% anual nu \up0 \expndtw-1\charscalex100 este
considerat\u259? infla\u355?ie. Un nivel al infla\u355?iei ntre 1 \u351?i 3% pe
an este considerat \up0 \expndtw0\charscalex100 rezonabil pentru o economie n exp
ansiune, iar o astfel de infla\u355?ie se nume\u351?te \up0 \expndtw-3\charscale
x100 \ul0\nosupersub\cf15\f16\fs22 infla\u355?ie trtoare\ul0\nosupersub\cf11\f12\f
s22 . La polul opus se afl\u259? situa\u355?ia n care infla\u355?ia este de peste
50% \up0 \expndtw-7\charscalex100 pe lun\u259?, caz n care avem \ul0\nosupersub\
cf15\f16\fs22 hiperinfla\u355?ie\ul0\nosupersub\cf11\f12\fs22 . \par\pard\qj \li
2520\ri2283\sb0\sl-260\slmult0\fi677 \up0 \expndtw-2\charscalex100 Pe termen lun
g infla\u355?ia este prezent\u259? n orice economie. Deci fenomenul \up0 \expndtw
-7\charscalex100 nu poate fi controlat n totalitate, ci doar influen\u355?at. \pa
r\pard\qj \li2519\ri2284\sb6\sl-253\slmult0\fi678 \up0 \expndtw0\charscalex102 U
n nivel nalt al infla\u355?iei induce tendin\u355?a de a se consuma mai mult n \up
0 \expndtw0\charscalex100 prezent \u351?i de a se economisi mai pu\u355?in. Astf
el acumul\u259?rile mai mici vor greva \up0 \expndtw0\charscalex104 viitoarea de
zvoltare a investi\u355?iilor, deci a economiei. Este necesar s\u259? facem \up0
\expndtw-7\charscalex100 distinc\u355?ie ntre \ul0\nosupersub\cf14\f15\fs22 infl
a\u355?ia anticipat\u259?\ul0\nosupersub\cf16\f17\fs22 \u351?i \ul0\nosupersub\
cf14\f15\fs22 infla\u355?ia neanticipat\u259?. \par\pard\qj \li2520\ri2283\sb2\s
l-260\slmult0\fi677 \up0 \expndtw0\charscalex103 \ul0\nosupersub\cf16\f17\fs22 M
\u259?surarea infla\u355?iei.\ul0\nosupersub\cf8\f9\fs22 \ul0\nosupersub\cf11\f
12\fs22 Infla\u355?ia poate fi m\u259?surat\u259? prin intermediul mai \up0 \exp

ndtw-7\charscalex100 multor indicatori. Cei mai importan\u355?i dintre ace\u351?


tia sunt: \par\pard\ql \li3198\sb6\sl-253\slmult0 \up0 \expndtw-5\charscalex100
a)\ul0\nosupersub\cf17\f18\fs22 \ul0\nosupersub\cf11\f12\fs22 indicele pre\u35
5?urilor bunurilor de consum (IPC); \par\pard\ql \li3198\sb7\sl-253\slmult0 \up0
\expndtw-6\charscalex100 b)\ul0\nosupersub\cf17\f18\fs22 \ul0\nosupersub\cf11\
f12\fs22 indicele pre\u355?urilor de produc\u355?ie (IPP); \par\pard\ql \li3198
\sb7\sl-253\slmult0 \up0 \expndtw-5\charscalex100 c)\ul0\nosupersub\cf17\f18\fs2
2 \ul0\nosupersub\cf11\f12\fs22 indicele general al pre\u355?urilor (IGP); \pa
r\pard\ql \li3198\sb7\sl-253\slmult0 \up0 \expndtw-4\charscalex100 d)\ul0\nosupe
rsub\cf17\f18\fs22 \ul0\nosupersub\cf11\f12\fs22 deflatorul PIB. \par\pard\qj
\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\ri2283\sb2\sl-260\slmult0\fi677 \
up0 \expndtw-4\charscalex100 \ul0\nosupersub\cf15\f16\fs22 Indicele pre\u355?uri
lor bunurilor de consum\ul0\nosupersub\cf11\f12\fs22 (IPC) m\u259?soar\u259? ev
olu\u355?ia pre\u355?urilor \up0 \expndtw0\charscalex100 unui co\u351? de produs
e semnificativ pentru cheltuielile efectuate de o gospod\u259?rie \up0 \expndtw5\charscalex100 reprezentativ\u259?. Componentele acestui co\u351? \u351?i ponde
rea acestora n cheltuielile totale \up0 \expndtw0\charscalex102 sunt determinate
de c\u259?tre Institutul Na\u355?ional de Statistic\u259? pe baza unor studii \u
p0 \expndtw-6\charscalex100 efectuate prin sondaj asupra gospod\u259?riilor din
Romnia. \par\pard\ql \li3198\sb6\sl-253\slmult0\tx6320 \up0 \expndtw0\charscalex1
01 \ul0\nosupersub\cf15\f16\fs22 Indicele pre\u355?urilor de produc\u355?ie \tab
\up0 \expndtw0\charscalex103 \ul0\nosupersub\cf11\f12\fs22 (IPP) m\u259?soar\u2
59? evolu\u355?ia pre\u355?urilor n \par\pard\qj \li2520\ri2279\sb2\sl-260\slmult
0 \up0 \expndtw-4\charscalex100 stadiile anterioare consumului final, respectiv
pre\u355?urile materiilor prime, ale semi\up0 \expndtw-7\charscalex100 fabricate
lor \u351?i ale produselor finite nainte a fi livrate pe pia\u355?\u259?. \par\pa
rd\qj \li2520\ri2283\sb0\sl-260\slmult0\fi677 \up0 \expndtw-5\charscalex100 \ul0
\nosupersub\cf15\f16\fs22 Indicele general al pre\u355?urilor\ul0\nosupersub\cf1
1\f12\fs22 (IGP) m\u259?soar\u259? evolu\u355?ia tuturor pre\u355?urilor din \u
p0 \expndtw-3\charscalex100 economie, respectiv att a pre\u355?urilor bunurilor c
onsumate de c\u259?tre gospod\u259?rii, ct \up0 \expndtw-4\charscalex100 \u351?i
a pre\u355?urilor bunurilor care intr\u259? n procesele de produc\u355?ie. Acesta
reprezint\u259? cel \up0 \expndtw-7\charscalex100 mai general mod de m\u259?sur
are a infla\u355?iei. \par\pard\qj \li2520\ri2283\sb0\sl-260\slmult0\fi677 \up0
\expndtw-6\charscalex100 \ul0\nosupersub\cf15\f16\fs22 Deflatorul PIB\ul0\nosupe
rsub\cf11\f12\fs22 arat\u259? evolu\u355?ia nivelului mediu al pre\u355?urilor
tuturor bunurilor \up0 \expndtw-6\charscalex100 \u351?i serviciilor incluse n PIB
\u351?i se calculeaz\u259? astfel: \par\pard\qj\pvpg\phpg\posx6403\posy15305\ab
sw212 \expndtw-3\charscalex1002\par\pard\sect\sectd\fs24\paperw12240\paperh15840
\pard\sb0\sl-240{\bkmkstart Pg3}{\bkmkend Pg3}\par\pard\sect\sectd\sbknone\cols2
\colno1\colw4739\colsr60\colno2\colw7301\colsr160\ql \li3197\sb0\sl-264\slmult0
\par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql \li3197\sb0\sl-264\slmult0
\par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql \li3197\sb0\sl-264\slmult0
\par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql \li3197\sb0\sl-264\slmult0
\par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql \li3197\sb0\sl-264\slmult0
\par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql \li3197\sb0\sl-264\slmult0
\par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql \li3197\sb0\sl-264\slmult0
\par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql \li3197\sb211\sl-264\slmult
0 \up0 \expndtw-6\charscalex100 \ul0\nosupersub\cf15\f16\fs22 Deflatorul PIB =\p
ar\pard\column \ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li4799\sb0\sl-184\slmult0 \par\pard\ql \li4799\sb0\sl-184\sl
mult0 \par\pard\ql \li20\ri5614\sb149\sl-184\slmult0\tx1221 \up0 \expndtw-3\char

scalex100 \ul0\nosupersub\cf19\f20\fs22 PIB nominal \line\tab \up0 \expndtw-10\c


harscalex82 \u8901?100\par\pard\ql \li229\sb0\sl-184\slmult0 \up0 \expndtw-6\cha
rscalex100 PIB real \par\pard\sect\sectd\sbknone \qj \li2520\sb0\sl-255\slmult0
\par\pard\qj\li2520\ri2271\sb12\sl-255\slmult0\fi677 \up0 \expndtw-6\charscalex1
00 Diferen\u355?a dintre IGP \u351?i deflatorul PIB provine din structura diferi
t\u259? a bunu-\line \up0 \expndtw-5\charscalex100 rilor \u351?i serviciilor car
e sunt incluse n fiecare dintre ace\u351?tia. Dac\u259? deflatorul PIB se \line \
up0 \expndtw0\charscalex102 calculeaz\u259? pe baza bunurilor \u351?i serviciilo
r produse n interiorul \u355?\u259?rii, indicele \line \up0 \expndtw-4\charscalex
100 general al pre\u355?urilor se calculeaz\u259? \u355?innd cont \u351?i de prod
usele importate. Cele mai \line \up0 \expndtw-6\charscalex100 generale m\u259?su
ri pentru infla\u355?ie sunt indicele general al pre\u355?urilor \u351?i deflato
rul PIB. \par\pard\ql \li3214\sb0\sl-253\slmult0 \par\pard\ql\li3214\sb34\sl-253
\slmult0 \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf14\f15\fs22 Cauzele inf
la\u355?iei \par\pard\ql \li3197\sb0\sl-253\slmult0 \par\pard\ql\li3197\sb14\sl253\slmult0 \up0 \expndtw-6\charscalex100 a)\ul0\nosupersub\cf20\f21\fs22 \ul0\
nosupersub\cf14\f15\fs22 Infla\u355?ia prin salarii \u351?i prin costuri \par\p
ard\qj \li2520\ri2318\sb0\sl-260\slmult0\fi677 \up0 \expndtw0\charscalex100 \ul0
\nosupersub\cf19\f20\fs22 Orice cre\u351?tere a salariilor conduce la cre\u351?t
erea costurilor de produc\u355?ie, \up0 \expndtw0\charscalex108 \u351?i de aici,
la cre\u351?terea pre\u355?urilor, deci la infla\u355?ie. De asemenea, cre\u35
1?terea \up0 \expndtw0\charscalex102 costurilor de produc\u355?ie datorat\
u259? cre\u351?terii pre\u355?urilor materiilor prime, \up0 \expndtw0\ch
arscalex104 materialelor sau energiei va determina cre\u351?terea pre\u355
?urilor bunurilor \u351?i \up0 \expndtw-3\charscalex100 serviciilor finale, co
ntribuind la cre\u351?terea infla\u355?iei. \par\pard\qj \li2520\ri2275\sb0\sl-2
60\slmult0\fi678 \up0 \expndtw0\charscalex105 n cadrul infla\u355?iei prin costur
i o form\u259? distinct\u259? o constituie \ul0\nosupersub\cf21\f22\fs22 infla\u
355?ia \up0 \expndtw-4\charscalex100 importat\u259?\ul0\nosupersub\cf22\f23\fs22
. \ul0\nosupersub\cf19\f20\fs22 Acest tip de infla\u355?ie se manifest\u259? ntr
-o economie puternic dependent\u259? \up0 \expndtw-4\charscalex100 de mediul ext
ern (cum de altfel sunt majoritatea \u355?\u259?rilor lumii), din cauza cre\u351
?terii \up0 \expndtw-7\charscalex100 pre\u355?urilor mondiale (de exemplu la com
bustibili, materii prime etc.). \par\pard\ql \li3197\sb1\sl-238\slmult0 \up0 \ex
pndtw-5\charscalex100 \ul0\nosupersub\cf14\f15\fs22 b)\ul0\nosupersub\cf20\f21\f
s22 \ul0\nosupersub\cf14\f15\fs22 Infla\u355?ia prin cerere \par\pard\qj \li25
20\ri2275\sb4\sl-260\slmult0\fi677 \up0 \expndtw-4\charscalex100 \ul0\nosupersub
\cf19\f20\fs22 Cre\u351?terea cererii de bunuri \u351?i servicii mai rapid\u259?
dect cre\u351?terea ofertei va \line \up0 \expndtw-3\charscalex100 determina cre
\u351?terea pre\u355?urilor. n figurile 7.1 \u351?i 7.2 sunt reprezentate grafic
dou\u259? \line \up0 \expndtw0\charscalex104 mecanisme de cre\u351?tere a pre\u3
55?urilor ca urmare a cre\u351?terii cererii de bunuri \u351?i \line \up0 \expnd
tw-8\charscalex100 servicii. \par\pard\qj \li2520\ri2274\sb0\sl-260\slmult0\fi67
8 \up0 \expndtw-4\charscalex100 n figura 7.1 s-au reprezentat ntr-un sistem de axe
\ul0\nosupersub\cf15\f16\fs22 venit disponibil-output \line \up0 \expndtw-5\cha
rscalex100 \ul0\nosupersub\cf19\f20\fs22 efectele unei cre\u351?teri a cererii d
atorate major\u259?rii cheltuielilor guvernamentale, \ul0\nosupersub\cf15\f16\
fs22 G. \line \up0 \expndtw-4\charscalex100 \ul0\nosupersub\cf19\f20\fs22 O cre\
u351?tere a cheltuielilor publice \ul0\nosupersub\cf15\f16\fs22 G\ul0\nosupersub
\cf19\f20\fs22 cu \u916?G va conduce economia din punctul A n \line \up0 \expndt
w-4\charscalex100 punctul E, adic\u259? la o cerere de output \ul0\nosupersub\cf
15\f16\fs22 Y\ul0\sub\cf23\f24\fs23 e\ul0\nosupersub\cf19\f20\fs22 mai mare dect
\ul0\nosupersub\cf15\f16\fs22 Y\ul0\sub\cf23\f24\fs23 A\ul0\nosupersub\cf15\f16
\fs22 \ul0\nosupersub\cf19\f20\fs22 (punctul ini\u355?ial). Dac\u259? \line \up
0 \expndtw-6\charscalex100 \u351?i oferta ar cre\u351?te la nivelul cererii, atu
nci nivelul pre\u355?urilor ar r\u259?mne nemodificat. \line \up0 \expndtw-4\char
scalex100 Dac\u259? oferta nu se modific\u259? att de repede sau chiar deloc, atu
nci diferen\u355?a \ul0\nosupersub\cf15\f16\fs22 Y\ul0\sub\cf23\f24\fs23 e\ul0\n
osupersub\cf15\f16\fs22 - Y\ul0\sub\cf23\f24\fs23 A \line \up0 \expndtw-1\chars
calex100 \ul0\nosupersub\cf19\f20\fs22 (cererea excedentar\u259?) se transform\u

259? n infla\u355?ie, respectiv pentru ca economia s\u259? \line \up0 \expndtw-1\


charscalex100 ating\u259? un nou punct n care cererea egaleaz\u259? oferta, vor c
re\u351?te pre\u355?urile. Acest \par\pard\qj\pvpg\phpg\posx6403\posy15305\absw2
12 \expndtw-3\charscalex100\ul0\nosupersub\cf11\f12\fs22 3
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{\sp{\sn fFillOK}{\sv 1}}{\sp{\sn fFilled}{\sv 1}}{\sp{\sn fillColor}{\sv 0}}{\s
p{\sn fLine}{\sv 0}}{\sp{\sn lineType}{\sv 0}}{\sp{\sn fArrowheadsOK}{\sv 1}}{\s
p{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}
}}
{\shp {\*\shpinst\shpleft4784\shptop4311\shpright5947\shpbottom4311\shpfhdr0\shp
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v 20}}{\sp{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}{\sp{\sn lineW
idth}{\sv 5283}}
}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g4}{\bkmkend Pg4}\par\pard\qj \li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0
\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\s
l-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-26
0\slmult0 \par\pard\qj\li2519\ri2276\sb125\sl-260\slmult0 \up0 \expndtw0\charsca
lex100 \ul0\nosupersub\cf19\f20\fs22 decalaj (\u8222?gap\u8220?) infla\u355?ioni
st va indica astfel ct de repede se ajusteaz\u259? oferta la \up0 \expndtw-7\char
scalex100 cerere sau ct de mult cresc pre\u355?urile. \par\pard\ql \li6822\sb36\s
l-241\slmult0 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf28\f29\fs20 Cheltu
ieli totale\par\pard\sect\sectd\sbknone\cols2\colno1\colw6662\colsr160\colno2\co
lw5278\colsr160\ql \li4255\sb112\sl-241\slmult0 \up0 \expndtw-3\charscalex100 \u
l0\nosupersub\cf25\f26\fs20 Output\par\pard\ql \li5264\sb0\sl-181\slmult0 \up0 \
expndtw-2\charscalex100 Venit disponibil\par\pard\ql \li4141\sb0\sl-264\slmult0
\par\pard\ql \li4141\sb223\sl-264\slmult0\tx5720 \up0 \expndtw-3\charscalex100 \
ul0\nosupersub\cf19\f20\fs22 Y\ul0\sub\cf26\f27\fs23 e\tab \up0 \expndtw-2\chars
calex100 \ul0\nosupersub\cf25\f26\fs20 E\par\pard\qj \li2961\ri2522\sb233\sl-238
\slmult0\tx3185 \up0 \expndtw-2\charscalex100 Gap (decalaj) \line\tab \up0 \expn
dtw-3\charscalex100 infla\u355?ionist\par\pard\ql \li4119\sb82\sl-264\slmult0\tx
6171 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf19\f20\fs22 Y\ul0\sub\cf26\
f27\fs23 A\tab \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf25\f26\fs20 C\par
\pard\column \ql \li20\sb9\sl-241\slmult0 \up0 \expndtw-2\charscalex100 \ul0\nos
upersub\cf29\f30\fs20 C\ul0\sub\cf30\f31\fs20 1 \ul0\nosupersub\cf29\f30\fs20 +
I\ul0\sub\cf30\f31\fs20 1 \ul0\nosupersub\cf29\f30\fs20 + \u916?G\ul0\sub\cf30\f
31\fs20 1 \ul0\nosupersub\cf29\f30\fs20 + NX\ul0\sub\cf30\f31\fs20 1\par\pard\qj
\li1295\ri2417\sb175\sl-240\slmult0 \up0 \expndtw-2\charscalex100 \ul0\nosupers
ub\cf28\f29\fs20 Cheltuieli totale \line \up0 \expndtw-2\charscalex100 \ul0\nosu
persub\cf29\f30\fs20 C\ul0\sub\cf30\f31\fs20 0 \ul0\nosupersub\cf29\f30\fs20 + I
\ul0\sub\cf30\f31\fs20 0 \ul0\nosupersub\cf29\f30\fs20 + G\ul0\sub\cf30\f31\fs20
0 \ul0\nosupersub\cf29\f30\fs20 + NX\ul0\sub\cf30\f31\fs20 0\par\pard\ql \li715
9\sb0\sl-264\slmult0 \par\pard\ql \li357\sb35\sl-264\slmult0 \up0 \expndtw-3\cha
rscalex100 \ul0\nosupersub\cf19\f20\fs22 \u916?G \par\pard\sect\sectd\sbknone \q
l \li5623\sb0\sl-207\slmult0 \up0 \expndtw-3\charscalex100 A \par\pard\ql \li768
6\sb0\sl-180\slmult0 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf25\f26\fs20
Consum C\ul0\sub\cf27\f28\fs20 0 \par\pard\ql \li7545\sb0\sl-241\slmult0 \par\p
ard\ql\li7545\sb0\sl-241\slmult0 \par\pard\ql\li7545\sb0\sl-241\slmult0 \par\par
d\ql\li7545\sb0\sl-241\slmult0 \par\pard\ql\li7545\sb0\sl-241\slmult0 \par\pard\
ql\li7545\sb130\sl-241\slmult0 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf2
5\f26\fs20 Venit disponibil \par\pard\ql \li5722\sb218\sl-218\slmult0 \up0 \expn
dtw-2\charscalex100 \ul0\nosupersub\cf24\f25\fs18 Figura 7.1 \par\pard\qj \li251

9\ri2275\sb248\sl-260\slmult0\fi678 \up0 \expndtw-3\charscalex100 \ul0\nosupersu


b\cf19\f20\fs22 Un alt exemplu de cre\u351?tere a cererii \u351?i, implicit, de
infla\u355?ie este descris n \line \up0 \expndtw-3\charscalex100 figura 7.2. ntr-u
n sistem de axe \ul0\nosupersub\cf15\f16\fs22 venit-pre\u355?uri\ul0\nosupersub\
cf19\f20\fs22 este descris efectul pe care l are o \line \up0 \expndtw-6\charsca
lex100 cre\u351?tere a veniturilor asupra cererii \u351?i, implicit, asupra pre\
u355?urilor. O cre\u351?tere ini\u355?ial\u259? \line \up0 \expndtw0\charscalex1
00 a veniturilor de la V la V\u8217? va determina cre\u351?terea pre\u355?urilor
de la p la p\u8217? (dac\u259? \line \up0 \expndtw-5\charscalex100 oferta r\u25
9?mne nemodificat\u259?). Produc\u259?torii observ\u259? cre\u351?terea cererii a
gregate (\ul0\nosupersub\cf15\f16\fs22 CeA\ul0\nosupersub\cf19\f20\fs22 ) \line
\up0 \expndtw-1\charscalex100 \u351?i r\u259?spund prin cre\u351?terea ofertei a
gregate (\ul0\nosupersub\cf15\f16\fs22 OA\ul0\nosupersub\cf19\f20\fs22 ). n cea d
e-a doua faz\u259?, o dat\u259? cu \line \up0 \expndtw-5\charscalex100 cre\u351?
terea ofertei agregate, nivelul pre\u355?urilor va sc\u259?dea, ns\u259? nu va re
veni la nivelul \line \up0 \expndtw-7\charscalex100 ini\u355?ial. Cu alte cuvint
e, efectul total va fi de cre\u351?tere a nivelului pre\u355?urilor. \par\pard\
ql \li3197\sb6\sl-253\slmult0 \up0 \expndtw-6\charscalex100 \ul0\nosupersub\cf15
\f16\fs22 c) \ul0\nosupersub\cf14\f15\fs22 Politica monetar\u259? \par\pard\qj \
li2520\ri2274\sb2\sl-260\slmult0\fi677 \up0 \expndtw-1\charscalex100 \ul0\nosupe
rsub\cf19\f20\fs22 Cre\u351?terea masei monetare (a ofertei de moned\u259?) poat
e constitui o nou\u259? \up0 \expndtw0\charscalex100 surs\u259? de cre\u351?tere
a pre\u355?urilor. Dac\u259? oferta de bunuri \u351?i servicii nu se adapteaz\u
259? \up0 \expndtw-4\charscalex100 suficient de repede la varia\u355?ia ofertei
de bani, atunci restabilirea echilibrului se va \up0 \expndtw-6\charscalex100 fa
ce prin intermediul pre\u355?urilor, respectiv va cre\u351?te nivelul acestora.
\par\pard\qj \li2520\ri2275\sb0\sl-260\slmult0\fi677 \up0 \expndtw-4\charscalex1
00 Deplasarea curbei IS la dreapta (respectiv o cre\u351?tere a ofertei de bunur
i \u351?i \line \up0 \expndtw0\charscalex104 servicii) determin\u259? cre\u351?t
erea ratei dobnzii, \u351?i de aici \u351?i cre\u351?terea pre\u355?urilor. \line
\up0 \expndtw0\charscalex105 Cre\u351?terea masei monetare nso\u355?it\u259? de
cre\u351?terea produc\u355?iei poate conduce la \line \up0 \expndtw-4\charscalex
100 reducerea ratei dobnzii, de aici la cre\u351?terea cererii pentru investi\u35
5?ii \u351?i, implicit, la \line \up0 \expndtw0\charscalex100 cre\u351?terea pre
\u355?urilor. n cazul unei ntrzieri ntre momentul cre\u351?terii ofertei de \line \u
p0 \expndtw0\charscalex100 moned\u259? \u351?i cre\u351?terea produc\u355?iei n c
adrul sectorului real, cre\u351?terea de mas\u259? \par\pard\qj\pvpg\phpg\posx64
03\posy15304\absw213 \expndtw-3\charscalex1004
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{\shp {\*\shpinst\shpleft6238\shptop11247\shpright4250\shpbottom11247\shpfhdr0\s
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}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g6}{\bkmkend Pg6}\par\pard\ql \li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0
\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\s
l-299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb99\sl-2
99\slmult0 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf13\f14\fs26 7.2. Expl
icarea infla\u355?iei prin teoria cantitativ\u259? a banilor \par\pard\qj \li252
0\sb0\sl-260\slmult0 \par\pard\qj\li2520\ri2275\sb14\sl-260\slmult0\fi677 \up0 \
expndtw-2\charscalex100 \ul0\nosupersub\cf19\f20\fs22 Teoria clasic\u259? a cere
rii agregate \u351?i a form\u259?rii pre\u355?urilor\ul0\super\cf26\f27\fs22 1\u
l0\nosupersub\cf19\f20\fs22 , denumit\u259? teoria \up0 \expndtw-2\charscalex100
cantitativ\u259? a banilor, se fundamenteaz\u259? pe cuplarea abord\u259?rii mi
croeconomice a \up0 \expndtw0\charscalex106 echilibrului competitiv cu modelul d
inamic al utiliz\u259?rii banilor. n aceast\u259? \up0 \expndtw-3\charscalex100 c
oncep\u355?ie, o gospod\u259?rie \u8222?tipic\u259?\u8220? nu cump\u259?r\u259?
bunuri \u351?i servicii n acela\u351?i timp cu \up0 \expndtw0\charscalex105 vnzar
ea for\u355?ei de munc\u259?. Ca urmare ntr-o perioad\u259? medie (de exemplu o \
up0 \expndtw-1\charscalex100 s\u259?pt\u259?mn\u259?) are nevoie de un stoc de ba
ni care asigur\u259? cheltuielile planificate \u351?i \up0 \expndtw-7\charscalex
100 cele neprev\u259?zute. Astfel restric\u355?ia de buget a familiei are forma\
par\pard\sect\sectd\sbknone\cols3\colno1\colw3441\colsr40\colno2\colw2347\colsr4
0\colno3\colw6242\colsr160\ql \li3235\sb0\sl-264\slmult0 \par\pard\ql \li3235\sb
33\sl-264\slmult0 \up0 \expndtw-5\charscalex100 \ul0\nosupersub\cf33\f34\fs22 M\
par\pard\ql \li2520\sb259\sl-264\slmult0 \up0 \expndtw-7\charscalex100 \ul0\nosu
persub\cf19\f20\fs22 unde:\par\pard\column \ql \li3481\sb0\sl-149\slmult0 \par\p
ard\ql \li20\sb140\sl-149\slmult0\tx806\tx2249 \up0 \expndtw-1\charscalex100 \ul
0\nosupersub\cf32\f33\fs13 D\tab \up0 \expndtw-1\charscalex100 D\tab \up0 \expnd
tw-1\charscalex100 S\par\pard\ql \li192\sb0\sl-184\slmult0\tx993 \up0 \expndtw-5
\charscalex100 \ul0\nosupersub\cf34\f35\fs22 +\ul0\nosupersub\cf33\f34\fs22 P\ul
0\nosupersub\cf34\f35\fs22 \u8901?\ul0\nosupersub\cf33\f34\fs22 Y\tab \up0 \expn
dtw0\charscalex103 \ul0\nosupersub\cf34\f35\fs22 =\ul0\nosupersub\cf33\f34\fs22
P\ul0\nosupersub\cf34\f35\fs22 \u8901?\u928?+\ul0\nosupersub\cf33\f34\fs22 w\ul0
\nosupersub\cf34\f35\fs22 \u8901?\ul0\nosupersub\cf33\f34\fs22 L\par\pard\column
\ql \li5858\sb0\sl-149\slmult0 \par\pard\ql \li440\sb140\sl-149\slmult0 \up0 \e
xpndtw-1\charscalex100 \ul0\nosupersub\cf32\f33\fs13 S\par\pard\ql \li20\sb0\sl-

184\slmult0\tx562\tx2784 \up0 \expndtw0\charscalex112 \ul0\nosupersub\cf34\f35\f


s22 +\ul0\nosupersub\cf33\f34\fs22 M\tab \up0 \expndtw-3\charscalex100 \ul0\nosu
persub\cf19\f20\fs22 ,\tab \up0 \expndtw-7\charscalex100 (7.1) \par\pard\sect\se
ctd\sbknone \ql \li2951\ri2274\sb11\sl-260\slmult0\fi25\tx3344\tx3344\tx3344 \up
0 \expndtw-4\charscalex100 \ul0\nosupersub\cf15\f16\fs22 M\ul0\nosupersub\cf23\f
24\fs15 D\ul0\nosupersub\cf19\f20\fs22 este suma de bani lichizi pe care famili
a o de\u355?ine la sfr\u351?itul s\u259?pt\u259?mnii. \line\tab \up0 \expndtw-6\ch
arscalex100 Acest termen este interpretat ca cerere de bani, ntruct este suma de b
ani \line\tab \up0 \expndtw-7\charscalex100 pe care familia a optat s-o posede p
entru a face cheltuieli n viitor; \line \up0 \expndtw-7\charscalex100 \ul0\nosup
ersub\cf15\f16\fs22 M\ul0\nosupersub\cf23\f24\fs15 S\ul0\nosupersub\cf19\f20\fs2
2 este suma de bani pe care familia o de\u355?ine la nceputul s\u259?pt\u259?mnii
\u351?i devine \line\tab \up0 \expndtw-8\charscalex100 ofert\u259? de bani pent
ru c\u259? este folosit\u259? pentru cheltuieli n timpul s\u259?pt\u259?mnii; \up0
\expndtw-9\charscalex100 \ul0\nosupersub\cf15\f16\fs22 P Y\ul0\super\cf23\f24\
fs22 D\ul0\nosupersub\cf19\f20\fs22 reprezint\u259? cererea de bunuri \u351?i s
ervicii; \par\pard\ql \li2951\sb1\sl-259\slmult0 \up0 \expndtw-7\charscalex100 \
ul0\nosupersub\cf15\f16\fs22 P \ul0\nosupersub\cf25\f26\fs20 \u8719?\ul0\nosupe
rsub\cf19\f20\fs22 este profitul; \par\pard\ql \li2951\sb1\sl-259\slmult0 \up0
\expndtw-7\charscalex100 \ul0\nosupersub\cf15\f16\fs22 w L\ul0\super\cf23\f24\
fs22 S\ul0\nosupersub\cf19\f20\fs22 este venitul din munc\u259?. \par\pard\qj \
li2519\ri2275\sb252\sl-270\slmult0\fi678 \up0 \expndtw0\charscalex102 Conform te
oriei clasice, stocul de bani necesar n orice moment unei \up0 \expndtw-2\charsca
lex100 \u8222?gospod\u259?rii tipice\u8220? este propor\u355?ional cu valoarea n
ominal\u259? a cererii de bunuri \u351?i \up0 \expndtw-7\charscalex100 servicii,
deci rezult\u259? ecua\u355?ia\par\pard\sect\sectd\sbknone\cols2\colno1\colw344
1\colsr40\colno2\colw8619\colsr160\ql \li2520\sb0\sl-264\slmult0 \par\pard\ql \l
i3235\sb57\sl-264\slmult0 \up0 \expndtw-5\charscalex100 \ul0\nosupersub\cf36\f37
\fs22 M\par\pard\column \ql \li2520\sb0\sl-149\slmult0 \par\pard\ql \li2520\sb0\
sl-149\slmult0 \par\pard\ql \li20\sb18\sl-149\slmult0\tx1075 \up0 \expndtw-1\cha
rscalex100 \ul0\nosupersub\cf35\f36\fs13 D\tab \up0 \expndtw-1\charscalex100 D\p
ar\pard\ql \li207\sb0\sl-184\slmult0\tx5161 \up0 \expndtw-6\charscalex100 \ul0\n
osupersub\cf37\f38\fs22 =\ul0\nosupersub\cf36\f37\fs22 k\ul0\nosupersub\cf37\f38
\fs22 \u8901?\ul0\nosupersub\cf36\f37\fs22 P\ul0\nosupersub\cf37\f38\fs22 \u8901
?\ul0\nosupersub\cf36\f37\fs22 Y\tab \up0 \expndtw-7\charscalex100 \ul0\nosupers
ub\cf19\f20\fs22 (7.2) \par\pard\sect\sectd\sbknone \li2520\sb0\sl-207\slmult0\f
i677 \up0 \expndtw-5\charscalex100 Coeficientul de propor\u355?ionalitate \ul0\n
osupersub\cf36\f37\fs22 k\ul0\nosupersub\cf19\f20\fs22 se nume\u351?te nclina\u3
55?ie medie pentru bani\par\pard\sect\sectd\sbknone \li2520\sb17\sl-264\slmult0\
fi0 \up0 \expndtw-6\charscalex100 lichizi\ul0\super\cf26\f27\fs22 2\ul0\nosupers
ub\cf19\f20\fs22 .\par\pard\qj \li2520\ri2275\sb0\sl-280\slmult0\fi677 \up0 \exp
ndtw-1\charscalex100 Acceptnd ipoteza echilibrului pe pia\u355?a banilor (M\ul0\s
uper\cf26\f27\fs22 D\ul0\nosupersub\cf19\f20\fs22 = M\ul0\super\cf26\f27\fs22 S
\ul0\nosupersub\cf19\f20\fs22 ), din ecua\u355?ia \up0 \expndtw-7\charscalex100
(7.2) se ob\u355?ine\par\pard\sect\sectd\sbknone\cols3\colno1\colw3602\colsr40\c
olno2\colw4824\colsr160\colno3\colw3484\colsr160\ql \li3237\sb0\sl-264\slmult0 \
par\pard\ql \li3237\sb189\sl-264\slmult0 \up0 \expndtw-3\charscalex100 \ul0\nosu
persub\cf39\f40\fs22 P \up0 \expndtw-5\charscalex100 \ul0\nosupersub\cf40\f41\fs
22 =\par\pard\column \ql \li3977\sb0\sl-149\slmult0 \par\pard\ql \li3977\sb0\sl149\slmult0 \par\pard\ql \li355\sb6\sl-149\slmult0 \up0 \expndtw-1\charscalex100
\ul0\nosupersub\cf38\f39\fs13 S\par\pard\ql \li112\sb0\sl-176\slmult0 \up0 \exp
ndtw-3\charscalex100 \ul0\nosupersub\cf39\f40\fs22 M\par\pard\ql \li424\sb1\sl-1
46\slmult0 \up0 \expndtw-1\charscalex100 \ul0\nosupersub\cf38\f39\fs13 D\par\par
d\ql \li20\sb0\sl-176\slmult0 \up0 \expndtw-10\charscalex93 \ul0\nosupersub\cf39
\f40\fs22 k\ul0\nosupersub\cf40\f41\fs22 \u8901?\ul0\nosupersub\cf39\f40\fs22 Y\
par\pard\column \ql \li8616\sb0\sl-264\slmult0 \par\pard\ql \li20\sb189\sl-264\s
lmult0 \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf19\f20\fs22 (7.3) \par\pa
rd\sect\sectd\sbknone \qj \li2519\sb0\sl-220\slmult0 \par\pard\qj\li2519\ri2308\
sb31\sl-220\slmult0\fi0 \up0 \expndtw0\charscalex103 \ul0\super\cf41\f42\fs19\ul
0\super\cf41\f42\fs18 1\ul0\nosupersub\cf2\f3\fs18 Aceast\u259? teorie a fost d

ezvoltat\u259? la sfr\u351?itul secolului al XVIII-lea \u351?i nceputul secolului


al \up0 \expndtw0\charscalex100 XX-lea n lucr\u259?rile lui David Hume (1711-1776
), Alfred Marshal (1842-1924), Irving Fisher \up0 \expndtw-3\charscalex100 (1867
-1947). Reprezentantul contemporan cel mai cunoscut este Milton Friedman, care a
publicat \up0 \expndtw-3\charscalex100 nc\u259? din 1956 prima versiune a lucr\u
259?rii \u8222?Teoria cantitativ\u259? a banilor\u8220?.\par\pard\sect\sectd\sbk
none\cols3\colno1\colw3007\colsr110\colno2\colw204\colsr20\colno3\colw8769\colsr
160\ql \li2520\sb105\sl-264\slmult0 \up0 \expndtw0\charscalex109 \ul0\super\cf41
\f42\fs18 2\ul0\nosupersub\cf2\f3\fs18 \ul0\nosupersub\cf42\f43\fs22 k\ul0\nosu
persub\cf43\f44\fs22 =\par\pard\column \ql \li20\sb38\sl-230\slmult0 \up0 \expn
dtw-4\charscalex100 \ul0\nosupersub\cf46\f47\fs19 M\par\pard\column \ql \li20\sb
37\sl-126\slmult0 \up0 \expndtw-1\charscalex100 \ul0\nosupersub\cf45\f46\fs11 D\
par\pard\qj \li280\ri5801\sb0\sl-160\slmult0\fi487 \up0 \expndtw-4\charscalex100
\ul0\nosupersub\cf44\f45\fs19 Stocul mediu de bani lichizi \line \up0 \expndtw5\charscalex100 = \par\pard\sect\sectd\sbknone \li3039\sb0\sl-180\slmult0\fi0\tx
3767 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf46\f47\fs19 P Y\ul0\nosuper
sub\cf45\f46\fs11 D\tab \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf44\f45\f
s19 Valoarea cererii de bunuri si servicii\par\pard\qj\pvpg\phpg\posx6403\posy15
304\absw213 \expndtw-3\charscalex100\ul0\nosupersub\cf19\f20\fs22 6
{\shp {\*\shpinst\shpleft3626\shptop11356\shpright4186\shpbottom11356\shpfhdr0\s
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{\shp {\*\shpinst\shpleft3754\shptop13141\shpright6567\shpbottom13141\shpfhdr0\s
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}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g7}{\bkmkend Pg7}\par\pard\qj \li2519\sb0\sl-270\slmult0 \par\pard\qj\li2519\sb0
\sl-270\slmult0 \par\pard\qj\li2519\sb0\sl-270\slmult0 \par\pard\qj\li2519\sb0\s
l-270\slmult0 \par\pard\qj\li2519\sb0\sl-270\slmult0 \par\pard\qj\li2519\sb0\sl270\slmult0 \par\pard\qj\li2519\sb0\sl-270\slmult0 \par\pard\qj\li2519\sb0\sl-27
0\slmult0 \par\pard\qj\li2519\sb0\sl-270\slmult0 \par\pard\qj\li2519\sb0\sl-270\
slmult0 \par\pard\qj\li2519\sb0\sl-270\slmult0 \par\pard\qj\li2519\sb0\sl-270\sl
mult0 \par\pard\qj\li2519\sb0\sl-270\slmult0 \par\pard\qj\li2519\sb0\sl-270\slmu
lt0 \par\pard\qj\li2519\ri2277\sb236\sl-270\slmult0\fi678 \up0 \expndtw-5\charsc
alex100 \ul0\nosupersub\cf19\f20\fs22 Afirma\u355?ia c\u259? variabilele nominal
e se modific\u259? propor\u355?ional cu modificarea \line \up0 \expndtw-3\charsc
alex100 cantit\u259?\u355?ii de bani, iar variabilele reale r\u259?mn constante s
e nume\u351?te \ul0\nosupersub\cf8\f9\fs22 neutralitate a \line \up0 \expndtw-7\
charscalex100 banilor\ul0\nosupersub\cf19\f20\fs22 . \par\pard\ql \li2520\ri2271
\sb19\sl-260\slmult0\fi677\tx3198 \up0 \expndtw-2\charscalex100 Rela\u355?ia (7.

3), n care \ul0\nosupersub\cf39\f40\fs22 Y\ul0\super\cf23\f24\fs22 D\ul0\nosupers


ub\cf39\f40\fs22 = Y\ul0\super\cf23\f24\fs22 S\ul0\nosupersub\cf19\f20\fs22 , r
eprezint\u259? n acela\u351?i timp \ul0\nosupersub\cf8\f9\fs22 ecua\u355?ia canti
ta-\line \up0 \expndtw-6\charscalex100 tiv\u259? a banilor\ul0\nosupersub\cf19\f
20\fs22 \u351?i eviden\u355?iaz\u259? factorii care determin\u259? nivelul pre\
u355?urilor. \line \tab \up0 \expndtw-1\charscalex100 Modelul clasic aplic\u25
9? ipoteza c\u259? nclina\u355?ia pentru bani lichizi este \up0 \expndtw-6
\charscalex100 constant\u259?. Cel de-al doilea factor care determin\u259? modif
icarea pre\u355?urilor este nivelul \up0 \expndtw-6\charscalex100 ofertei agrega
te (\ul0\nosupersub\cf39\f40\fs22 OA = Y\ul0\super\cf23\f24\fs22 S\ul0\nosupersu
b\cf19\f20\fs22 ), care se afl\u259? la nivelul s\u259?u maxim din punctul de ve
dere \up0 \expndtw-1\charscalex100 al pie\u355?ei for\u355?ei de munc\u259?. Ace
st factor poate provoca infla\u355?ie numai dac\u259? oferta \up0 \expndtw-7\cha
rscalex100 agregat\u259? va sc\u259?dea permanent. \par\pard\qj \li2520\ri2275\s
b0\sl-260\slmult0\fi677 \up0 \expndtw-4\charscalex100 Statisticile economiilor a
vansate nregistreaz\u259? cre\u351?teri ale ofertei agregate \up0 \expndtw-1\char
scalex100 \u351?i deci tendin\u355?e de sc\u259?dere a pre\u355?urilor. Dup\u259
? opinia economi\u351?tilor monetari\u351?ti, \up0 \expndtw-1\charscalex100 sing
ura cauz\u259? a infla\u355?iei este cre\u351?terea stocului de bani (M\ul0\supe
r\cf26\f27\fs22 S\ul0\nosupersub\cf19\f20\fs22 ) \u351?i ulterior a cererii \up0
\expndtw-7\charscalex100 agregate. De aceea se deduce urm\u259?toarea ecua\u355
?ie dinamic\u259? a infla\u355?iei:\par\pard\sect\sectd\sbknone\cols2\colno1\col
w4687\colsr40\colno2\colw7373\colsr160\ql \li3250\sb0\sl-218\slmult0 \par\pard\q
l \li4336\sb59\sl-218\slmult0 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf47
\f48\fs18 S\par\pard\ql \li3250\sb0\sl-184\slmult0 \up0 \expndtw0\charscalex140
\ul0\nosupersub\cf49\f50\fs22 \u916?\ul0\nosupersub\cf48\f49\fs22 P\ul0\nosupers
ub\cf49\f50\fs22 \u916? \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf48\f49
\fs22 M\par\pard\ql \li3682\sb0\sl-184\slmult0\tx4489 \up0 \expndtw-6\charscalex
100 \ul0\nosupersub\cf49\f50\fs22 = \tab \up0 \expndtw-6\charscalex100 \u8722?\p
ar\pard\ql \li3359\sb0\sl-176\slmult0\tx3986 \up0 \expndtw-3\charscalex100 \ul0\
nosupersub\cf48\f49\fs22 P\tab \up0 \expndtw-3\charscalex100 M \up0 \expndtw-3\c
harscalex100 \ul0\nosupersub\cf47\f48\fs18 S\par\pard\column \ql \li4727\sb0\sl218\slmult0 \par\pard\ql \li384\sb59\sl-218\slmult0 \up0 \expndtw-2\charscalex10
0 S\par\pard\ql \li20\sb0\sl-184\slmult0 \up0 \expndtw-8\charscalex100 \ul0\nosu
persub\cf49\f50\fs22 \u916? \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf48\f
49\fs22 Y\par\pard\ql \li3910\sb0\sl-184\slmult0 \up0 \expndtw-7\charscalex100 \
ul0\nosupersub\cf19\f20\fs22 (7.4)\par\pard\ql \li108\sb0\sl-207\slmult0 \up0 \e
xpndtw-3\charscalex100 \ul0\nosupersub\cf48\f49\fs22 Y \up0 \expndtw-3\charscale
x100 \ul0\nosupersub\cf47\f48\fs18 S \par\pard\sect\sectd\sbknone \qj \li2520\ri
2274\sb152\sl-260\slmult0\fi677 \up0 \expndtw-4\charscalex100 \ul0\nosupersub\cf
19\f20\fs22 n economia contemporan\u259? se constat\u259? c\u259? indicatorul \ul
0\nosupersub\cf48\f49\fs22 k\ul0\nosupersub\cf19\f20\fs22 nu este constant \u35
1?i \up0 \expndtw-2\charscalex100 ca urmare infla\u355?ia poate fi provocat\u259
? \u351?i de varia\u355?ia nclina\u355?iei pentru bani lichizi. \up0 \expndtw-1\c
harscalex100 Chiar dac\u259? se accept\u259? doar acest argument, se poate sus\u
355?ine c\u259? infla\u355?ia nu are o \up0 \expndtw-7\charscalex100 singur\u259
? cauz\u259?, respectiv cre\u351?terea stocului de bani. \par\pard\qj \li2520\ri
2275\sb0\sl-260\slmult0\fi678 \up0 \expndtw-5\charscalex100 O alt\u259? direc\u3
55?ie a criticilor este orientat\u259? c\u259?tre eroarea f\u259?cut\u259? de mo
netari\u351?ti \up0 \expndtw0\charscalex100 n aplicarea rela\u355?iei cauz\u259?efect. Astfel se recunoa\u351?te c\u259? exist\u259? o corela\u355?ie ntre \up0 \
expndtw-6\charscalex100 oferta de bani \u351?i infla\u355?ie, dar rela\u355?ia e
ste \u351?i invers\u259?: infla\u355?ia impune cre\u351?terea ofertei \up0 \expn
dtw-7\charscalex100 de bani ca r\u259?spuns de ajustare n evitarea recesiunii. \p
ar\pard\qj \li2520\ri2273\sb0\sl-260\slmult0\fi678 \up0 \expndtw-6\charscalex100
Trebuie f\u259?cut\u259? observa\u355?ia c\u259? rela\u355?ia (7.4) ofer\u259?
o bun\u259? explica\u355?ie a mecanis\up0 \expndtw-7\charscalex100 mului prin ca
re cererea \u351?i oferta determin\u259? infla\u355?ia. \par\pard\ql \li3197\sb1
\sl-235\slmult0 \up0 \expndtw-7\charscalex100 Dac\u259? n rela\u355?ia (7.2) cons
ider\u259?m \ul0\nosupersub\cf48\f49\fs22 1/v = k,\ul0\nosupersub\cf19\f20\fs22

atunci se ob\u355?ine rela\u355?ia \par\pard\li3913\sb0\sl-264\slmult0\par\pard


\li3913\sb17\sl-264\slmult0\fi0\tx8617 \up0 \expndtw0\charscalex103 \ul0\nosuper
sub\cf50\f51\fs22 M\ul0\nosupersub\cf51\f52\fs22 \u8901?\ul0\nosupersub\cf50\f51
\fs22 v\ul0\nosupersub\cf51\f52\fs22 =\ul0\nosupersub\cf50\f51\fs22 P\ul0\nosupe
rsub\cf51\f52\fs22 \u8901?\ul0\nosupersub\cf50\f51\fs22 y\ul0\nosupersub\cf19\f2
0\fs22 ,\tab \up0 \expndtw0\charscalex103 (7.5)\par\pard\ql \li2519\sb0\sl-264\s
lmult0 \par\pard\ql\li2519\sb33\sl-264\slmult0 \up0 \expndtw-6\charscalex100 und
e v este viteza de rota\u355?ie a banilor, iar y este nivelul output-ului real.
\par\pard\qj\pvpg\phpg\posx6403\posy15304\absw213 \expndtw-3\charscalex1007
{\shp {\*\shpinst\shpleft2492\shptop3770\shpright9752\shpbottom3790\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz21\shplid0
{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
\sn geoRight}{\sv 7260}}{\sp{\sn geoBottom}{\sv 20}}
{\sp{\sn pVerticies}{\sv 8;5;(0,20);(7260,20);(7260,0);(0,0);(0,20)}}
{\sp{\sn pSegmentInfo}{\sv 2;11;16384;45824;1;45824;1;45824;1;45824;1;45824;3276
8}}
{\sp{\sn fFillOK}{\sv 1}}{\sp{\sn fFilled}{\sv 1}}{\sp{\sn fillColor}{\sv 0}}{\s
p{\sn fLine}{\sv 0}}{\sp{\sn lineType}{\sv 0}}{\sp{\sn fArrowheadsOK}{\sv 1}}{\s
p{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}
}}
{\shp {\*\shpinst\shpleft3235\shptop8592\shpright3615\shpbottom8592\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz636\shplid1{\sp{\sn shapeType}{\
sv 20}}{\sp{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}{\sp{\sn line
Width}{\sv 5283}}
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{\shp {\*\shpinst\shpleft3870\shptop8592\shpright4486\shpbottom8592\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz636\shplid2{\sp{\sn shapeType}{\
sv 20}}{\sp{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}{\sp{\sn line
Width}{\sv 5283}}
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{\shp {\*\shpinst\shpleft4712\shptop8592\shpright5241\shpbottom8592\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz636\shplid3{\sp{\sn shapeType}{\
sv 20}}{\sp{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}{\sp{\sn line
Width}{\sv 5283}}
}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g8}{\bkmkend Pg8}\par\pard\qj \li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0
\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\s
l-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-26
0\slmult0 \par\pard\qj\li2520\ri2275\sb125\sl-260\slmult0\fi677 \up0 \expndtw-1\
charscalex100 \ul0\nosupersub\cf19\f20\fs22 Din aceast\u259? rela\u355?ie observ
\u259?m c\u259?, att timp ct nivelul output-ului real \u351?i \up0 \expndtw0\chars
calex100 viteza de rota\u355?ie r\u259?mn nemodificate, orice cre\u351?tere
a masei monetare se \up0 \expndtw-3\charscalex100 transform\u259? n infla\u3
55?ie. Faptul c\u259? output-ul real (\ul0\nosupersub\cf48\f49\fs22 y\ul0\nosupe
rsub\cf19\f20\fs22 ) r\u259?mne nemodificat se explic\u259? \up0 \expndtw0\charsc
alex100 prin ocuparea complet\u259? a factorilor sau prin elasticitatea redus\u2
59? a produc\u355?iei la \up0 \expndtw-7\charscalex100 modificarea masei monetar
e. \par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql\li3197\sb93\sl-264\slmul
t0 \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf16\f17\fs22 Politici antiinfl
a\u355?ioniste\ul0\nosupersub\cf19\f20\fs22 . \par\pard\qj \li2520\ri2274\sb120\
sl-260\slmult0\fi730 \up0 \expndtw-3\charscalex100 n cazul \ul0\nosupersub\cf52\f
53\fs22 infla\u355?iei prin costuri\ul0\nosupersub\cf19\f20\fs22 , una dintre m\
u259?surile posibile este controlul \line \up0 \expndtw-4\charscalex100 pre\u355
?urilor. Aceast\u259? m\u259?sur\u259? poate fi implementat\u259? doar pe termen
scurt. Pe termen \line \up0 \expndtw0\charscalex100 lung va conduce ns\u259? la
un dezechilibru ntre cerere \u351?i ofert\u259? (cerere mai mare \line \up0 \expn
dtw-5\charscalex100 dect oferta) \u351?i n continuare la dezechilibre structurale
majore, cum ar fi cre\u351?terea \line \up0 \expndtw-5\charscalex100 \u351?omaju

lui \u351?i o presiune crescnd\u259? asupra cursului de schimb sau pre\u355?urilo


r. \par\pard\qj \li2520\ri2273\sb260\sl-260\slmult0\fi678 \up0 \expndtw0\charsca
lex100 n cazul \ul0\nosupersub\cf52\f53\fs22 infla\u355?iei prin salarii\ul0\nosu
persub\cf19\f20\fs22 , contram\u259?sura recomandat\u259? este controlul \line \
up0 \expndtw0\charscalex100 salariilor. Aceasta se poate efectua prin intermediu
l curbelor de sacrificiu sau \line \up0 \expndtw-3\charscalex100 memorandumurilo
r cu sindicatele prin care s\u259? se accepte fie reducerea salariilor, \line \u
p0 \expndtw0\charscalex103 fie reducerea timpului de lucru concomitent cu reduce
rea corespunz\u259?toare a \line \up0 \expndtw-8\charscalex100 salariului. \par\
pard\qj \li2520\ri2274\sb3\sl-257\slmult0\fi677 \up0 \expndtw-4\charscalex100 \u
l0\nosupersub\cf52\f53\fs22 Reducerea cererii agregate\ul0\nosupersub\cf19\f20\f
s22 este o alt\u259? m\u259?sur\u259? antiinfla\u355?ionist\u259? ce poate fi \
line \up0 \expndtw0\charscalex100 aplicat\u259? mai ales n cazul unei infla\u355?
ii provocate de \u351?ocuri ale cererii. Aceast\u259? \line \up0 \expndtw0\chars
calex100 reducere a cererii agregate poate fi determinat\u259? direct fi
e prin reducerea \line \up0 \expndtw-5\charscalex100 cheltuielilor publice, fi
e prin cre\u351?terea nivelului taxelor \u351?i impozitelor sau indirect \line \
up0 \expndtw0\charscalex103 prin cre\u351?terea ratei dobnzii, iar de aici reduce
rea cererii pentru investi\u355?ii \u351?i, \line \up0 \expndtw0\charscalex100 i
mplicit, sc\u259?derea presiunii infla\u355?ioniste. n acest caz principala probl
em\u259? care \line \up0 \expndtw0\charscalex105 apare este aceea a sc\u259?deri
i veniturilor, a investi\u355?iilor, de aici cre\u351?terea ratei \line \up0 \ex
pndtw-4\charscalex100 \u351?omajului \u351?i influen\u355?area negativ\u259? a c
re\u351?terii economice viitoare. n acest context, \line \up0 \expndtw0\charscale
x100 reducerea cererii agregate este o m\u259?sur\u259? recomandat\u259? doar pe
termen scurt \u351?i \line \up0 \expndtw-6\charscalex100 nso\u355?it\u259? de al
te m\u259?suri prin care s\u259? se ncurajeze cre\u351?terea economic\u259?. \par
\pard\qj \li2520\ri2273\sb1\sl-260\slmult0\fi678 \up0 \expndtw-5\charscalex100 O
alt\u259? modalitate de influen\u355?are a infla\u355?iei este prin intermediul
\ul0\nosupersub\cf52\f53\fs22 politicii de \line \up0 \expndtw0\charscalex103 v
enituri\ul0\nosupersub\cf22\f23\fs22 .\ul0\nosupersub\cf19\f20\fs22 Aceasta pre
supune s\u259? se ac\u355?ioneze asupra veniturilor \u351?i profiturilor \line \
up0 \expndtw0\charscalex100 a\u351?teptate, \u351?i nu asupra \u351?omajului. De
ficien\u355?ele majore ale acestei politici sunt \line \up0 \expndtw-7\charscale
x100 urm\u259?toarele: \par\pard\ql \li2932\sb0\sl-260\slmult0 \par\pard\ql\li29
32\ri2274\sb20\sl-260\slmult0\tx3186\tx3186\tx3186 \up0 \expndtw0\charscalex102
\ul0\nosupersub\cf11\f12\fs22 \u8226?\ul0\nosupersub\cf17\f18\fs22 \ul0\nosuper
sub\cf19\f20\fs22 veniturile mijlocii sunt pu\u355?in afectate de aceste m\u259
?suri; ntruct aceste \line\tab \up0 \expndtw-2\charscalex100 venituri formeaz\u259
?, n statele dezvoltate economic, partea cea mai mare a \line\tab \up0 \expndtw-4
\charscalex100 veniturilor agregate, impactul politicii este redus. Vor fi mult
mai afectate \line\tab \up0 \expndtw-7\charscalex100 veniturile sc\u259?zute \u3
51?i cele mari; \par\pard\ql \li2932\ri2276\sb20\sl-260\slmult0\tx3186 \up0 \exp
ndtw-5\charscalex100 \ul0\nosupersub\cf11\f12\fs22 \u8226?\ul0\nosupersub\cf17\f
18\fs22 \ul0\nosupersub\cf19\f20\fs22 o politic\u259? de control sever\u259? c
onduce la controlul aloc\u259?rii resurselor, alocare \line\tab \up0 \expndtw-7\
charscalex100 ce poate fi neeconomic\u259?; \par\pard\qj\pvpg\phpg\posx6403\posy
15304\absw213 \expndtw-3\charscalex1008\par\pard\sect\sectd\fs24\paperw12240\pap
erh15840\pard\sb0\sl-240{\bkmkstart Pg9}{\bkmkend Pg9}\par\pard\ql \li2932\sb0\s
l-260\slmult0 \par\pard\ql\li2932\sb0\sl-260\slmult0 \par\pard\ql\li2932\sb0\sl260\slmult0 \par\pard\ql\li2932\sb0\sl-260\slmult0 \par\pard\ql\li2932\sb0\sl-26
0\slmult0 \par\pard\ql\li2932\sb0\sl-260\slmult0 \par\pard\ql\li2932\sb0\sl-260\
slmult0 \par\pard\ql\li2932\sb0\sl-260\slmult0 \par\pard\ql\li2932\sb0\sl-260\sl
mult0 \par\pard\ql\li2932\sb0\sl-260\slmult0 \par\pard\ql\li2932\sb0\sl-260\slmu
lt0 \par\pard\ql\li2932\sb0\sl-260\slmult0 \par\pard\ql\li2932\sb0\sl-260\slmult
0 \par\pard\ql\li2932\sb0\sl-260\slmult0 \par\pard\ql\li2932\ri2276\sb125\sl-260
\slmult0\tx3186\tx3186 \up0 \expndtw-4\charscalex100 \ul0\nosupersub\cf11\f12\fs
22 \u8226?\ul0\nosupersub\cf17\f18\fs22 \ul0\nosupersub\cf19\f20\fs22 ntrzierea
(lagul) dintre momentul introducerii m\u259?surilor de control \u351?i cel \line
\tab \up0 \expndtw-5\charscalex100 al intr\u259?rii efective n practic\u259? poat

e genera pierderi de resurse \u351?i ineficien\u355?\u259? \line\tab \up0 \expnd


tw-8\charscalex100 att pe plan intern, ct \u351?i n rela\u355?iile cu exteriorul. \
par\pard\qj \li2520\ri2275\sb0\sl-260\slmult0\fi667 \up0 \expndtw-4\charscalex10
0 \ul0\nosupersub\cf52\f53\fs22 Politica monetar\u259?\ul0\nosupersub\cf19\f20\f
s22 poate influen\u355?a la rndul ei evolu\u355?ia infla\u355?iei. O politic\u25
9? \up0 \expndtw0\charscalex104 monetar\u259? restrictiv\u259? va conduce la cre
\u351?terea ratelor dobnzilor, \u351?i de aici la \up0 \expndtw-3\charscalex100 s
c\u259?derea cererii. Sc\u259?derea cererii va determina sc\u259?derea presiunii
infla\u355?ioniste, \u351?i \up0 \expndtw-7\charscalex100 de aici reducerea cre
\u351?terii pre\u355?urilor. \par\pard\qj \li2520\ri2274\sb0\sl-260\slmult0\fi67
8 \up0 \expndtw-1\charscalex100 O problem\u259? deosebit\u259? n cadrul analizei
infla\u355?iei o constituie politica de \up0 \expndtw-6\charscalex100 indexare a
salariilor. n multe \u355?\u259?ri sindicatele au ob\u355?inut prin negocieri po
sibilitatea \up0 \expndtw-1\charscalex100 de a include printre clauzele contract
elor de munc\u259? una privitoare la indexarea \up0 \expndtw-2\charscalex100 aut
omat\u259? a salariilor n raport cu costul vie\u355?ii. Indexarea tuturor salarii
lor este o \up0 \expndtw-7\charscalex100 m\u259?sur\u259? de reducere a infla\u3
55?iei n condi\u355?iile n care cre\u351?terea salariilor este inferioar\u259? \up
0 \expndtw-6\charscalex100 ratei infla\u355?iei. n plus se elimin\u259? c\u351?tig
urile negarantate sau pierderile ce rezult\u259? din \up0 \expndtw-7\charscalex1
00 erorile de anticipare a ratei infla\u355?iei. \par\pard\ql \li3197\sb268\sl-2
99\slmult0 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf13\f14\fs26 7.3. \u35
0?omajul \par\pard\qj \li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\ri2275\sb34
\sl-260\slmult0\fi678 \up0 \expndtw0\charscalex100 \ul0\nosupersub\cf19\f20\fs22
La origine, no\u355?iunea de \u351?omaj era sinonim\u259? cu aceea de \u8222?in
activitate\u8220?. \line \up0 \expndtw-3\charscalex100 Cuvntul \ul0\nosupersub\cf
2\f3\fs18 \u8222?\ul0\nosupersub\cf19\f20\fs22 \u351?omaj\u8220? din limba romn\u
259? provine din cuvntul fran\u355?uzesc \ul0\nosupersub\cf2\f3\fs18 \u8222?\ul0\
nosupersub\cf19\f20\fs22 chomage\u8220?. \line \up0 \expndtw-6\charscalex100 La
rndul s\u259?u, acesta deriv\u259? din latinescul \ul0\nosupersub\cf2\f3\fs18 \u8
222?\ul0\nosupersub\cf19\f20\fs22 caumare\u8220?, fiind provenit de la cuvntul \l
ine \up0 \expndtw-7\charscalex100 grec \up0 \expndtw0\charscalex104 \ul0\nosuper
sub\cf2\f3\fs18 \u8222?\ul0\nosupersub\cf19\f20\fs22 cauma\u8220?, care nseamn\u2
59? \ul0\nosupersub\cf2\f3\fs18 \u8222?\ul0\nosupersub\cf19\f20\fs22 c\u259?ldur
\u259? mare\u8220?, din cauza c\u259?reia nceta orice \line \up0 \expndtw-8\chars
calex100 activitate. \par\pard\qj \li2520\ri2275\sb260\sl-260\slmult0\fi730 \up0
\expndtw0\charscalex101 \ul0\nosupersub\cf16\f17\fs22 Definirea indicatorilor s
tatistici ai \u351?omajului\ul0\nosupersub\cf8\f9\fs22 . \ul0\nosupersub\cf19\f2
0\fs22 Din punct de vedere \up0 \expndtw-6\charscalex100 statistic, indicatorii
prin care se evalueaz\u259? \u351?omajul sunt de dou\u259? feluri: \par\pard\ql
\li3197\sb1\sl-259\slmult0 \up0 \expndtw-8\charscalex100 - indicatori absolu\u35
5?i; \par\pard\ql \li3197\sb1\sl-259\slmult0 \up0 \expndtw-8\charscalex100 - ind
icatori relativi. \par\pard\qj \li2519\ri2275\sb1\sl-260\slmult0\fi678 \up0 \exp
ndtw-4\charscalex100 Indicatorii absolu\u355?i sau indicatorii de nivel se refer
\u259? la \ul0\nosupersub\cf52\f53\fs22 num\u259?rul efectiv\ul0\nosupersub\cf22
\f23\fs22 \ul0\nosupersub\cf52\f53\fs22 de \line \up0 \expndtw-1\charscalex100
\u351?omeri\ul0\nosupersub\cf22\f23\fs22 .\ul0\nosupersub\cf19\f20\fs22 Ei se e
xprim\u259? n \ul0\nosupersub\cf2\f3\fs18 \u8222?\ul0\nosupersub\cf19\f20\fs22 pe
rsoane\u8220? (\ul0\nosupersub\cf2\f3\fs18 \u8222?\ul0\nosupersub\cf19\f20\fs22
mii de persoane\u8220?) \u351?i se determin\u259? pentru \line \up0 \expndtw-3\c
harscalex100 anumite perioade de referin\u355?\u259?: lunar, trimestrial sau anu
al. Num\u259?rul \u351?omerilor se \line \up0 \expndtw-3\charscalex100 eviden\u3
55?iaz\u259? \u351?i n corela\u355?ie cu anumite variabile demografice, ca vrst\u2
59?, sex, stare \line \up0 \expndtw0\charscalex100 civil\u259?, dar \u351?i \u35
5?innd cont de preg\u259?tirea profesional\u259?, de nivelul studiilor sau de \li
ne \up0 \expndtw-8\charscalex100 reparti\u355?ia teritorial\u259?. \par\pard\qj\
pvpg\phpg\posx6403\posy15304\absw213 \expndtw-3\charscalex1009
{\shp {\*\shpinst\shpleft2492\shptop3770\shpright9752\shpbottom3790\shpfhdr0\shp
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\sn geoRight}{\sv 7260}}{\sp{\sn geoBottom}{\sv 20}}
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p{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}
}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g10}{\bkmkend Pg10}\par\pard\qj \li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\s
b0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0
\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\s
l-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl260\slmult0 \par\pard\qj\li2520\ri2275\sb125\sl-260\slmult0\fi677 \up0 \expndtw3\charscalex100 \ul0\nosupersub\cf19\f20\fs22 O caracteristic\u259? aparte urm\u
259?rit\u259? n ceea ce prive\u351?te analiza \u351?omajului este \up0 \expndtw-4
\charscalex100 \ul0\nosupersub\cf22\f23\fs22 durata\ul0\nosupersub\cf19\f20\fs22
acestuia. Din acest punct de vedere, se identific\u259? un \u351?omaj de scurt
\u259? durat\u259? \up0 \expndtw-6\charscalex100 (sub un an) \u351?i un \u351?om
aj de lung\u259? durat\u259? (pe o perioad\u259? mai mare de un an). \par\pard\q
l \li2520\sb0\sl-253\slmult0 \par\pard\ql\li2520\ri2275\sb13\sl-253\slmult0\fi67
7\tx3198 \up0 \expndtw-1\charscalex100 \ul0\nosupersub\cf48\f49\fs22 \u350?omeri
i\ul0\nosupersub\cf19\f20\fs22 , a doua component\u259? a popula\u355?iei active
, reprezint\u259? o categorie \line \up0 \expndtw-7\charscalex100 economic\u259?
a c\u259?rei definire a suscitat numeroase abord\u259?ri. \line \tab \up0 \expn
dtw0\charscalex105 n statistica romneasc\u259?, \ul0\nosupersub\cf8\f9\fs22 efecti
vul \u351?omerilor\ul0\nosupersub\cf19\f20\fs22 se determin\u259? n dou\u259? \u
p0 \expndtw-3\charscalex100 variante: \par\pard\qj \li2520\ri2275\sb2\sl-260\slm
ult0\fi677 \up0 \expndtw0\charscalex100 \ul0\nosupersub\cf52\f53\fs22 \u350?omer
ii nregistra\u355?i\ul0\nosupersub\cf48\f49\fs22 \ul0\nosupersub\cf19\f20\fs22 s
unt persoanele care au declarat c\u259? n perioada de \line \up0 \expndtw-5\chars
calex100 referin\u355?\u259? erau nscrise la oficiile for\u355?ei de munc\u259? \
u351?i \u351?omaj, indiferent dac\u259? primeau \line \up0 \expndtw-6\charscalex
100 sau nu aloca\u355?ie de sprijin, ajutor de \u351?omaj sau alte forme de prot
ec\u355?ie social\u259?. \par\pard\qj \li2520\ri2275\sb0\sl-260\slmult0\fi677 \u
p0 \expndtw-6\charscalex100 \ul0\nosupersub\cf52\f53\fs22 \u350?omerii n sensul B
IM\ul0\nosupersub\cf48\f49\fs22 \ul0\nosupersub\cf19\f20\fs22 (conform defini\u
355?iei Biroului Interna\u355?ional al Muncii) \up0 \expndtw-6\charscalex100 sun
t persoanele cu vrsta de cel pu\u355?in 15 ani care n decursul perioadei de referi
n\u355?\u259? \up0 \expndtw-7\charscalex100 ndeplinesc simultan urm\u259?toarele
\ul0\nosupersub\cf16\f17\fs22 condi\u355?ii\ul0\nosupersub\cf19\f20\fs22 : \par\
pard\qj \li2520\ri2277\sb0\sl-260\slmult0\fi677 \up0 \expndtw-1\charscalex100 nu au un loc de munc\u259? \u351?i nu desf\u259?\u351?oar\u259? o activitate n sc
opul ob\u355?inerii \up0 \expndtw-7\charscalex100 unor venituri; \par\pard\qj \l
i2520\ri2275\sb0\sl-260\slmult0\fi678 \up0 \expndtw-5\charscalex100 - sunt n c\u2
59?utarea unui loc de munc\u259?, utiliznd n ultimele patru s\u259?pt\u259?mni \lin
e \up0 \expndtw-5\charscalex100 diferite metode pentru a-l g\u259?si: nscrierea l
a oficiul de for\u355?\u259? de munc\u259? \u351?i \u351?omaj sau \line \up0 \ex
pndtw0\charscalex100 la agen\u355?ii particulare de plasare, demersuri pentru a n
cepe o activitate pe cont \line \up0 \expndtw-2\charscalex100 propriu, publicare
a de anun\u355?uri sau r\u259?spunsuri la anun\u355?uri, apel la rude, prieteni,
\line \up0 \expndtw-8\charscalex100 sindicate etc.; \par\pard\qj \li2520\ri2275
\sb0\sl-260\slmult0\fi677 \up0 \expndtw-3\charscalex100 - sunt disponibile s\u25
9? nceap\u259? lucrul n urm\u259?toarele 15 zile, dac\u259? s-ar g\u259?si \up0 \
expndtw-7\charscalex100 imediat un loc de munc\u259?. \par\pard\ql \li3198\sb1\s
l-259\slmult0 \up0 \expndtw-7\charscalex100 Sunt incluse de asemenea: \par\pard\
qj \li2520\ri2275\sb1\sl-260\slmult0\fi677 \up0 \expndtw-4\charscalex100 - perso
anele f\u259?r\u259? loc de munc\u259?, disponibile s\u259? lucreze, care a\u351
?teapt\u259? s\u259? fie \up0 \expndtw-4\charscalex100 rechemate la lucru sau ca
re au g\u259?sit un loc de munc\u259? \u351?i urmeaz\u259? s\u259? nceap\u259? lu

crul \up0 \expndtw-7\charscalex100 la o dat\u259? ulterioar\u259? perioadei de r


eferin\u355?\u259?; \par\pard\qj \li2520\ri2275\sb0\sl-260\slmult0\fi678 \up0 \e
xpndtw-2\charscalex100 - persoanele care n mod obi\u351?nuit fac parte din popula
\u355?ia inactiv\u259? (elevi, \up0 \expndtw-4\charscalex100 studen\u355?i, pens
ionari), dar care au declarat c\u259? sunt n c\u259?utarea unui loc de munc\u259?
\u351?i \up0 \expndtw-7\charscalex100 sunt disponibile s\u259? nceap\u259? lucru
l. \par\pard\qj \li2520\ri2275\sb260\sl-260\slmult0\fi678 \up0 \expndtw-2\charsc
alex100 Indicatorul relativ prin care se apreciaz\u259? intensitatea \u351?omaju
lui este unul \line \up0 \expndtw-3\charscalex100 dintre cei mai importan\u355?i
indicatori macroeconomici:\ul0\nosupersub\cf48\f49\fs22 \ul0\nosupersub\cf14\f
15\fs22 rata \u351?omajului\ul0\nosupersub\cf19\f20\fs22 . Aceasta se \line \up0
\expndtw0\charscalex103 determin\u259? prin \ul0\nosupersub\cf22\f23\fs22 rapor
tarea num\u259?rului total de \u351?omeri la popula\u355?ia activ\u259? \u351?i
se \line \up0 \expndtw-6\charscalex100 exprim\u259? n procente\ul0\nosupersub\cf1
9\f20\fs22 . Ca rela\u355?ie general\u259? de calcul, rata \u351?omajului se det
ermin\u259? prin \line \up0 \expndtw-4\charscalex100 raportarea unui indicator a
bsolut care exprim\u259? \u351?omajul (num\u259?rul de \u351?omeri - \ul0\nosupe
rsub\cf48\f49\fs22 \u350?\ul0\nosupersub\cf19\f20\fs22 ) \u351?i \line \up0 \exp
ndtw-3\charscalex100 a unui alt indicator care m\u259?soar\u259? popula\u355?ia
de referin\u355?\u259?, cel mai adesea popula\u355?ia \line \up0 \expndtw-7\char
scalex100 activ\u259? (\ul0\nosupersub\cf48\f49\fs22 Pa\ul0\nosupersub\cf19\f20\
fs22 ):\par\pard\sect\sectd\sbknone\cols2\colno1\colw3684\colsr40\colno2\colw837
6\colsr160\ql \li3228\sb0\sl-264\slmult0 \par\pard\ql \li3228\sb150\sl-264\slmul
t0 \up0 \expndtw0\charscalex100 \ul0\nosupersub\cf54\f55\fs22 R\ul0\sub\cf55\f56
\fs20 \u351? \up0 \expndtw-5\charscalex100 \ul0\nosupersub\cf53\f54\fs22 =\par\p
ard\column \ql \li3784\sb0\sl-264\slmult0 \par\pard\ql \li80\sb7\sl-264\slmult0
\up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf54\f55\fs22 \u350?\par\pard\ql \
li329\sb0\sl-184\slmult0\tx4918 \up0 \expndtw-10\charscalex82 \ul0\nosupersub\cf
53\f54\fs22 \u8901?100\tab \up0 \expndtw-7\charscalex100 (7.6)\par\pard\ql \li20
\sb0\sl-184\slmult0 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf54\f55\fs22
Pa \par\pard\qj\pvpg\phpg\posx6346\posy15304\absw326 \expndtw-3\charscalex100\ul
0\nosupersub\cf19\f20\fs22 10
{\shp {\*\shpinst\shpleft3703\shptop12879\shpright3991\shpbottom12879\shpfhdr0\s
hpbxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz1375\shplid0{\sp{\sn shapeType
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ineWidth}{\sv 5283}}
}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g11}{\bkmkend Pg11}\par\pard\qj \li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\s
b0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0
\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\s
l-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-26
0\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\
slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\sl
mult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\ri2276\sb105\sl
-260\slmult0\fi678 \up0 \expndtw0\charscalex103 \ul0\nosupersub\cf53\f54\fs22 In
forma\u355?iile cele mai precise privind rata \u351?omajului sunt ob\u355?inute
cu \line \up0 \expndtw-1\charscalex100 prilejul recens\u259?mintelor. \ul0\nosup
ersub\cf56\f57\fs22 Recens\u259?mintele \u351?i anchetele prin sondaj\ul0\nosupe
rsub\cf53\f54\fs22 sunt surse de \line \up0 \expndtw0\charscalex104 date foarte
costisitoare, care, la nivelul \u355?\u259?rii noastre, nu pot fi realizate cu
o \line \up0 \expndtw-5\charscalex100 periodicitate corespunz\u259?toare (lunar\
u259?) pentru asigurarea cu informa\u355?ii necesare. Se \line \up0 \expndtw-2\c
harscalex100 recurge prin urmare la surse de date administrative, afectate ns\u25
9? de legisla\u355?ia n \line \up0 \expndtw-7\charscalex100 vigoare. \par\pard\ql
\li3197\sb6\sl-253\slmult0 \up0 \expndtw-6\charscalex100 \ul0\nosupersub\cf16\f
17\fs22 n statistica interna\u355?ional\u259? se utilizeaz\u259? urm\u259?toarele
rate de \u351?omaj: \par\pard\qj \li2526\ri2275\sb2\sl-260\slmult0\fi671 \up0 \
expndtw0\charscalex102 \ul0\nosupersub\cf57\f58\fs18 \ul0\nosupersub\cf7\f8\fs18
\ul0\nosupersub\cf54\f55\fs22 rata global\u259? standardizat\u259? BIM, \ul0\n

osupersub\cf53\f54\fs22 care se calculeaz\u259? ca raport ntre \up0 \expndtw-5\ch


arscalex100 num\u259?rul \u351?omerilor n sensul BIM \u351?i popula\u355?ia activ
\u259? total\u259?; are cea mai mare sfer\u259? \up0 \expndtw-7\charscalex100 de
cuprindere, fiind cea mai utilizat\u259? n compara\u355?iile interna\u355?ionale
; \par\pard\qj \li2525\ri2277\sb0\sl-260\slmult0\fi672 \up0 \expndtw-1\charscale
x100 \ul0\nosupersub\cf57\f58\fs18 \ul0\nosupersub\cf7\f8\fs18 \ul0\nosupersub\c
f54\f55\fs22 rata global\u259? standardizat\u259?\ul0\nosupersub\cf53\f54\fs22
UE, care este raportul dintre num\u259?rul de \up0 \expndtw-7\charscalex100 \u3
51?omeri \u351?i popula\u355?ia activ\u259? civil\u259?; \par\pard\qj \li2526\ri
2275\sb0\sl-260\slmult0\fi671 \up0 \expndtw-1\charscalex100 \ul0\nosupersub\cf57
\f58\fs18 \ul0\nosupersub\cf7\f8\fs18 \ul0\nosupersub\cf54\f55\fs22 rata global
\u259? standardizat\u259? OCDE,\ul0\nosupersub\cf53\f54\fs22 care se determin\u
259? ca raport ntre \up0 \expndtw-7\charscalex100 num\u259?rul de \u351?omeri \u3
51?i popula\u355?ia activ\u259? total\u259?; \par\pard\qj \li2526\ri2275\sb0\sl260\slmult0\fi671 \up0 \expndtw-4\charscalex100 \ul0\nosupersub\cf57\f58\fs18 \ul
0\nosupersub\cf7\f8\fs18 \ul0\nosupersub\cf54\f55\fs22 rata par\u355?ial\u259?
de \u351?omaj,\ul0\nosupersub\cf53\f54\fs22 care se refer\u259? la o anumit\u2
59? categorie de for\u355?\u259? de \up0 \expndtw-3\charscalex100 munc\u259? sau
la o anumit\u259? regiune geografic\u259? sau administrativ\u259? \u351?i se de
termin\u259? ca \up0 \expndtw0\charscalex102 raport ntre num\u259?rul de \u351?om
eri proveni\u355?i din categoria respectiv\u259? \u351?i popula\u355?ia \up0 \ex
pndtw-7\charscalex100 activ\u259? din categoria respectiv\u259?; \par\pard\ql \l
i3197\sb1\sl-259\slmult0\tx4830 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf
57\f58\fs18 \ul0\nosupersub\cf7\f8\fs18 \ul0\nosupersub\cf54\f55\fs22 rata inte
gral\u259? \tab \up0 \expndtw0\charscalex103 (compus\u259?) de \u351?omaj \u351?
i subocupare vizibil\u259?,\ul0\nosupersub\cf53\f54\fs22 care se \par\pard\qj \
li2525\ri2276\sb1\sl-260\slmult0 \up0 \expndtw0\charscalex100 calculeaz\u259? ca
raport ntre timpul de munc\u259? disponibil neutilizat corespunz\u259?tor \line
\up0 \expndtw-4\charscalex100 persoanelor n \u351?omaj \u351?i celor aflate n star
e de subocupare vizibil\u259? (persoane care \line \up0 \expndtw0\charscalex102
au un loc de munc\u259?, dar care lucreaz\u259? involuntar n timp par\u355?ial) \
u351?i timpul de \line \up0 \expndtw0\charscalex100 munc\u259? total disponibil
sau timpul de munc\u259? utilizat. Aceasta m\u259?soar\u259? de fapt \line \up0
\expndtw-5\charscalex100 \u351?omajul poten\u355?ial, calculul s\u259?u impunnduse n special pentru cazul \u355?\u259?rilor n care \line \up0 \expndtw-5\charscale
x100 subocuparea vizibil\u259? are dimensiuni apreciabile. Romnia face parte din
categoria \line \up0 \expndtw-7\charscalex100 acestor \u355?\u259?ri. \par\pard\
qj \li2520\ri2275\sb0\sl-260\slmult0\fi678 \up0 \expndtw0\charscalex101 n context
ul implica\u355?iilor economice majore pe care le are \u351?omajul, al \line \up
0 \expndtw-6\charscalex100 leg\u259?turilor acestuia cu infla\u355?ia, se vorbe\
u351?te despre o \ul0\nosupersub\cf54\f55\fs22 rat\u259? natural\u259? a \u351?o
majului\ul0\nosupersub\cf53\f54\fs22 . \par\pard\qj \li2519\ri2276\sb260\sl-260\
slmult0\fi678 \up0 \expndtw-5\charscalex100 \ul0\nosupersub\cf16\f17\fs22 Modali
t\u259?\u355?i de calcul al indicatorilor \u351?omajului.\ul0\nosupersub\cf8\f9\
fs22 \ul0\nosupersub\cf53\f54\fs22 Indicatorii statistici prin \up0 \expndtw-4\
charscalex100 care se apreciaz\u259? \u351?omajul se determin\u259? n practic\u25
9? prin anumite metode statistice, \up0 \expndtw-7\charscalex100 folosind surse
de date specifice. \par\pard\qj \li2519\ri2333\sb0\sl-260\slmult0\fi678 \up0 \ex
pndtw0\charscalex101 n Romnia, num\u259?rul de \u351?omeri se determin\u259? prin
mai multe metode: \line \up0 \expndtw0\charscalex100 recens\u259?mnt, anchet\u25
9? prin sondaj, prelucrarea datelor oferite de institu\u355?ii \line \up0
\expndtw0\charscalex100 guvernamentale, ca Ministerul Muncii \u351?i Protec\u35
5?iei Sociale. n afara recens\u259?-\par\pard\qj\pvpg\phpg\posx6346\posy15305\abs
w325 \expndtw-3\charscalex10011
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}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g12}{\bkmkend Pg12}\par\pard\qj \li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\s
b0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0
\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\s
l-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl260\slmult0 \par\pard\qj\li2519\ri2276\sb125\sl-260\slmult0\fi0 \up0 \expndtw0\c
harscalex100 \ul0\nosupersub\cf53\f54\fs22 mintelor, efectivul \u351?omerilor \u
351?i rata \u351?omajului se determin\u259? \u351?i prin alte metode \up0 \expnd
tw-5\charscalex100 statistice aplicate de c\u259?tre Institutul Na\u355?ional pe
ntru Studii Statistice \u351?i Economice \up0 \expndtw-7\charscalex100 \u351?i M
inisterul Muncii \u351?i Solidarit\u259?\u355?ii Sociale. \par\pard\qj \li2519\r
i2276\sb0\sl-260\slmult0\fi678 \up0 \expndtw0\charscalex100 Rata \u351?omajului
se determin\u259? prin raportarea num\u259?rului total de \u351?omeri \up0 \expn
dtw-7\charscalex100 nregistra\u355?i la popula\u355?ia activ\u259? civil\u259?. \
par\pard\qj \li2519\ri2276\sb0\sl-260\slmult0\fi678 \up0 \expndtw-5\charscalex10
0 Pentru calculul acestor indicatori, a c\u259?ror publicare se face n mass-media
, \up0 \expndtw0\charscalex102 n buletinele statistice lunare sau n anuare, se agr
eg\u259? datele culese la nivelul \up0 \expndtw-7\charscalex100 oficiilor jude\u
355?ene ale for\u355?ei de munc\u259? \u351?i \u351?omajului. \par\pard\ql \li31
97\sb0\sl-253\slmult0 \par\pard\ql\li3197\sb13\sl-253\slmult0 \up0 \expndtw-3\ch
arscalex100 \ul0\nosupersub\cf16\f17\fs22 Tipologia \u351?omajului \par\pard\qj
\li2519\ri2275\sb242\sl-260\slmult0\fi678 \up0 \expndtw0\charscalex102 \ul0\nosu
persub\cf53\f54\fs22 O prim\u259? delimitare a \u351?omajului este aceea n \ul0\n
osupersub\cf56\f57\fs22 \u351?omaj voluntar \u351?i \u351?omaj \up0 \expndtw-5\c
harscalex100 involuntar.\ul0\nosupersub\cf53\f54\fs22 \u350?omajul voluntar exi
st\u259? atunci cnd muncitorii refuz\u259? oportunit\u259?\u355?ile de \up0 \expn
dtw-1\charscalex100 a se angaja n anumite slujbe, la salariile existente pe pia\u
355?\u259?. \u350?omajul involuntar \up0 \expndtw0\charscalex102 exist\u259? atu
nci cnd n economie sunt insuficiente locuri de munc\u259?, la salariile \up0 \expn
dtw-5\charscalex100 existente. Procentul \u351?omerilor care sunt neangaja\u355?
i voluntar este cunoscut, potrivit \up0 \expndtw-7\charscalex100 unor defini\u35
5?ii, ca rat\u259? natural\u259? a \u351?omajului\ul0\super\cf26\f27\fs22 3\ul0\
nosupersub\cf53\f54\fs22 . \par\pard\qj \li2519\ri2276\sb0\sl-260\slmult0\fi730
\up0 \expndtw-4\charscalex100 Cel mai frecvent sistem de clasificare are la baz\
u259? mp\u259?r\u355?irea \u351?omajului pe \up0 \expndtw0\charscalex102 cauze n u
rm\u259?toarele mari tipuri: \u351?omaj fric\u355?ional, structural, n timp ce du
p\u259? \up0 \expndtw0\charscalex100 raportul cerere-ofert\u259? se identific\u2
59? \u351?omajul sezonier \u351?i ciclic. S-a ncercat \u351?i o \up0 \expndtw0\ch
arscalex108 grupare a acestor tipuri de \u351?omaj n func\u355?ie de caracterul l
or voluntar sau \up0 \expndtw0\charscalex100 involuntar: \u351?omajul ciclic est
e considerat involuntar, n timp ce toate celelalte \up0 \expndtw-7\charscalex100
tipuri sunt considerate \u351?omaj voluntar. \par\pard\qj \li2519\ri2276\sb0\sl260\slmult0\fi678 \up0 \expndtw0\charscalex101 n cele ce urmeaz\u259? se va face
o abordare a acestor tipuri de \u351?omaj din \up0 \expndtw-7\charscalex100 punc
tul de vedere al func\u355?ion\u259?rii \u351?i locului lor pe pia\u355?a muncii
. \par\pard\ql \li3197\sb0\sl-253\slmult0 \par\pard\ql\li3197\sb13\sl-253\slmult
0 \up0 \expndtw-6\charscalex100 \ul0\nosupersub\cf16\f17\fs22 n func\u355?ie de n
atura \u351?i cauzele \u351?omajului: \par\pard\qj \li2519\ri2333\sb2\sl-260\slm
ult0\fi678 \up0 \expndtw0\charscalex104 1. \u350?omajul conjunctural\ul0\nosu
persub\cf53\f54\fs22 este generat de reducerea volumului \line \up0 \expnd
tw0\charscalex104 activit\u259?\u355?ii economice a ntreprinderilor ca urmare a d
eterior\u259?rii conjuncturii \line \up0 \expndtw-1\charscalex100 economice inte
rne \u351?i/sau interna\u355?ionale, a varia\u355?iilor conjuncturale ale cereri
i \u351?i \line \up0 \expndtw0\charscalex100 ofertei de bunuri \u351?i servicii,
care provoac\u259? o reducere a necesarului de for\u355?\u259? de \line \up0 \e

xpndtw-3\charscalex100 munc\u259?. \par\pard\qj \li2519\ri2276\sb260\sl-260\slmu


lt0\fi678 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf16\f17\fs22 2. \u350?
omajul fric\u355?ional\ul0\nosupersub\cf53\f54\fs22 se circumscrie perioadei ne
cesare n mod normal \line \up0 \expndtw0\charscalex102 pentru a g\u259?si un alt
loc de munc\u259?. Este probabil cea mai r\u259?spndit\u259? form\u259? de \line
\up0 \expndtw-6\charscalex100 \u351?omaj, care poate ap\u259?rea chiar \u351?i n
condi\u355?iile ocup\u259?rii depline a for\u355?ei de munc\u259?. \par\pard\qj
\li2520\ri2275\sb0\sl-260\slmult0\fi677 \up0 \expndtw0\charscalex101 \u350?omaju
l fric\u355?ional apare deoarece pia\u355?a muncii este inerent dinamic\u259?, \
line \up0 \expndtw-4\charscalex100 datorit\u259? imperfec\u355?iunii fluxului de
informa\u355?ii \u351?i deoarece trebuie s\u259? treac\u259? un timp \line \up0
\expndtw-6\charscalex100 pn\u259? cnd \u351?omerii \u351?i firmele ce ofer\u259?
slujbe vacante s\u259? se g\u259?seasc\u259? unii pe al\u355?ii. \par\pard\ql \l
i2520\sb0\sl-218\slmult0 \par\pard\ql\li2520\sb0\sl-218\slmult0 \par\pard\ql\li2
520\sb159\sl-218\slmult0 \up0 \expndtw-2\charscalex100 \ul0\super\cf41\f42\fs19\
ul0\super\cf41\f42\fs18 3\ul0\nosupersub\cf2\f3\fs18 Alain Anderton, \ul0\nosup
ersub\cf58\f59\fs18 Economics, \ul0\nosupersub\cf2\f3\fs18 Causeway Press Limite
d, Ormskirk, Lancs, 1991. \par\pard\qj\pvpg\phpg\posx6346\posy15305\absw325 \exp
ndtw-3\charscalex100\ul0\nosupersub\cf53\f54\fs22 12
{\shp {\*\shpinst\shpleft2520\shptop13062\shpright5230\shpbottom13082\shpfhdr0\s
hpbxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz1279\shplid0
{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
\sn geoRight}{\sv 2710}}{\sp{\sn geoBottom}{\sv 20}}
{\sp{\sn pVerticies}{\sv 8;5;(0,20);(2710,20);(2710,0);(0,0);(0,20)}}
{\sp{\sn pSegmentInfo}{\sv 2;11;16384;45824;1;45824;1;45824;1;45824;1;45824;3276
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{\sp{\sn fFillOK}{\sv 1}}{\sp{\sn fFilled}{\sv 1}}{\sp{\sn fillColor}{\sv 0}}{\s
p{\sn fLine}{\sv 0}}{\sp{\sn lineType}{\sv 0}}{\sp{\sn fArrowheadsOK}{\sv 1}}{\s
p{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}
}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g13}{\bkmkend Pg13}\par\pard\qj \li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\s
b0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0
\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\s
l-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-26
0\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\
slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\sl
mult0 \par\pard\qj\li2519\ri2276\sb105\sl-260\slmult0\fi678 \up0 \expndtw-5\char
scalex100 \ul0\nosupersub\cf53\f54\fs22 Presupunem c\u259? o pia\u355?\u259? a m
uncii este n echilibru, n sensul c\u259?, la un salariu \up0 \expndtw-1\charscalex
100 mediu, cantitatea de munc\u259? oferit\u259? egaleaz\u259? cantitatea de mun
c\u259? cerut\u259?. Se vor \up0 \expndtw-4\charscalex100 nota cu \ul0\nosupersu
b\cf54\f55\fs22 D\ul0\sub\cf23\f24\fs23 0\ul0\nosupersub\cf54\f55\fs22 \ul0\nos
upersub\cf53\f54\fs22 cererea de munc\u259?, \ul0\nosupersub\cf54\f55\fs22 S\ul0
\sub\cf23\f24\fs23 0\ul0\nosupersub\cf54\f55\fs22 \ul0\nosupersub\cf53\f54\fs22
oferta de munc\u259?, \ul0\nosupersub\cf54\f55\fs22 w\ul0\sub\cf23\f24\fs23 0\u
l0\nosupersub\cf54\f55\fs22 \ul0\nosupersub\cf53\f54\fs22 salariul mediu pe pia
\u355?\u259? \u351?i \ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23 0 \up
0 \expndtw-7\charscalex100 \ul0\nosupersub\cf53\f54\fs22 num\u259?rul de angaja\
u355?i. \par\pard\qj \li2519\ri2276\sb0\sl-260\slmult0\fi678 \up0 \expndtw-3\cha
rscalex100 Chiar \u351?i pe o pia\u355?\u259? n echilibru sau n situa\u355?ia de o
cupare total\u259? a for\u355?ei de \up0 \expndtw-4\charscalex100 munc\u259?, va
exista ntotdeauna un num\u259?r de \u351?omeri care se afl\u259? ntre dou\u259? l
ocuri de \up0 \expndtw-7\charscalex100 munc\u259? \u351?i care alc\u259?tuiesc \
u351?omajul fric\u355?ional. \par\pard\qj \li2520\ri2275\sb0\sl-260\slmult0\fi67
8 \up0 \expndtw-3\charscalex100 Grafic, existen\u355?a unei mase a \u351?omerilo
r care apare chiar \u351?i atunci cnd, la \up0 \expndtw-6\charscalex100 nivel agr
egat, pia\u355?a muncii este n echilibru este argumentat\u259? prin figura 7.4. \
par\pard\ql \li4424\sb0\sl-264\slmult0 \par\pard\ql\li4424\sb53\sl-264\slmult0 \

up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf54\f55\fs22 w \par\pard\ql \li643


7\sb94\sl-218\slmult0 \up0 \expndtw-2\charscalex100 S\ul0\sub\cf23\f24\fs23 0 \p
ar\pard\ql \li4415\sb0\sl-218\slmult0 \par\pard\ql\li4415\sb104\sl-218\slmult0 \
up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf54\f55\fs22 w\ul0\sub\cf23\f24\fs
23 0 \par\pard\li4422\sb96\sl-299\slmult0\fi0\tx7238 \up5 \expndtw-2\charscalex1
00 \ul0\nosupersub\cf54\f55\fs22 w\ul0\sub\cf23\f24\fs23 2\tab \dn4 \expndtw-2\c
harscalex100 \ul0\nosupersub\cf54\f55\fs22 D\ul0\sub\cf23\f24\fs23 0\par\pard\ql
\li6694\sb168\sl-218\slmult0 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf54
\f55\fs22 D\ul0\sub\cf23\f24\fs23 1 \par\pard\ql \li5452\ri5450\sb6\sl-480\slmul
t0\tx5678 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\
cf23\f24\fs23 1
\ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23 2\u
l0\nosupersub\cf54\f55\fs22
E\ul0\sub\cf23\f24\fs23 0 \line\tab \up0 \expndt
w-2\charscalex100 \ul0\nosupersub\cf24\f25\fs18 Figura 7.4 \par\pard\qj \li2519
\ri2275\sb195\sl-244\slmult0\fi678 \up0 \expndtw-2\charscalex100 \ul0\nosupersub
\cf53\f54\fs22 Nivelul \u351?omajului fric\u355?ional ntr-o economie este determi
nat de fluxurile \line \up0 \expndtw-5\charscalex100 existente la nivelul for\u3
55?ei de munc\u259? \u351?i de viteza cu care \u351?omerii \u351?i g\u259?sesc de
lucru. \line \up0 \expndtw0\charscalex100 Aceast\u259? vitez\u259? depinde de i
nstitu\u355?iile economice existente \u351?i de modul n care \line \up0 \expndtw5\charscalex100 aceste institu\u355?ii ac\u355?ioneaz\u259? pe pia\u355?a muncii
. De exemplu, o cre\u351?tere a aloca\u355?iilor de \line \up0 \expndtw-5\charsc
alex100 \u351?omaj va determina cre\u351?terea timpului necesar pentru ca \u351?
omerii s\u259?-\u351?i g\u259?seasc\u259? de \line \up0 \expndtw-7\charscalex100
lucru. \par\pard\qj \li2519\ri2273\sb80\sl-240\slmult0\fi678 \up0 \expndtw-5\ch
arscalex100 \ul0\nosupersub\cf16\f17\fs22 3. \u350?omajul structural\ul0\nosuper
sub\cf8\f9\fs22 \ul0\nosupersub\cf53\f54\fs22 (\ul0\nosupersub\cf54\f55\fs22 \u
351?omajul de neadaptare\ul0\nosupersub\cf53\f54\fs22 ) este consecin\u355?a unu
i deze\up0 \expndtw0\charscalex100 chilibru ntre structurile ocupa\u355?ional-pro
fesionale, teritoriale, demografice ale \up0 \expndtw-2\charscalex100 ofertei fo
r\u355?ei de munc\u259? \u351?i ale cererii. Aceste neconcordan\u355?e pot ap\u2
59?rea din cauza \up0 \expndtw-1\charscalex100 structurii sectoriale \u351?i ter
itoriale a economiei, progresului tehnologic, structurii \up0 \expndtw-7\charsca
lex100 sistemului educa\u355?ional etc. \par\pard\qj \li2519\ri2276\sb20\sl-240\
slmult0\fi677 \up0 \expndtw-6\charscalex100 n perioadele de restructur\u259?ri es
en\u355?iale ale unei economii, cum sunt cele ale \up0 \expndtw0\charscalex100 t
ranzi\u355?iei de la economia centralizat\u259? la economia de pia\u355?\u259?,
\u351?omajul structural \up0 \expndtw-7\charscalex100 reprezint\u259? \ul0\nosup
ersub\cf54\f55\fs22 principala form\u259? de \u351?omaj. \par\pard\qj\pvpg\phpg\
posx6346\posy15305\absw325 \expndtw-3\charscalex100\ul0\nosupersub\cf53\f54\fs22
13
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{\shp {\*\shpinst\shpleft4365\shptop7833\shpright4705\shpbottom8116\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft7117\shptop7960\shpright7598\shpbottom8285\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft6651\shptop8300\shpright6977\shpbottom8584\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft6342\shptop6973\shpright6724\shpbottom7242\shpfhdr0\shp
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{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
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{\shp {\*\shpinst\shpleft6340\shptop6973\shpright6723\shpbottom7242\shpfhdr0\shp
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{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
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t}{\sv 1}}{\sp{\sn lineColor}{\sv 16777215}}
}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g14}{\bkmkend Pg14}\par\pard\qj \li2520\sb0\sl-243\slmult0 \par\pard\qj\li2520\s
b0\sl-243\slmult0 \par\pard\qj\li2520\sb0\sl-243\slmult0 \par\pard\qj\li2520\sb0
\sl-243\slmult0 \par\pard\qj\li2520\sb0\sl-243\slmult0 \par\pard\qj\li2520\sb0\s
l-243\slmult0 \par\pard\qj\li2520\sb0\sl-243\slmult0 \par\pard\qj\li2520\sb0\sl243\slmult0 \par\pard\qj\li2520\sb0\sl-243\slmult0 \par\pard\qj\li2520\ri2275\sb
12\sl-243\slmult0\fi677 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf53\f54\f
s22 \u350?omajul structural apare atunci cnd schimb\u259?ri importante n cererea d
e \line \up0 \expndtw0\charscalex100 munc\u259? determin\u259? o nepotrivire ntre
calit\u259?\u355?ile \u351?i competen\u355?ele profesionale ale \line \up0 \exp
ndtw-5\charscalex100 muncitorilor, cerute \u351?i oferite pe pia\u355?a muncii.
Dac\u259? salariile ar fi complet flexibile \line \up0 \expndtw-2\charscalex100
\u351?i costurile mobilit\u259?\u355?ii geografice \u351?i ocupa\u355?ionale ar
fi reduse, atunci acest tip de \line \up0 \expndtw-2\charscalex100 \u351?omaj ar
fi rapid eliminat de ajust\u259?rile pie\u355?ei. n practic\u259?, aceste condi\
u355?ii nu sunt \line \up0 \expndtw-2\charscalex100 ntotdeauna ndeplinite, iar \u3
51?omajul structural poate ap\u259?rea ca o problem\u259? foarte \line \up0 \exp
ndtw-7\charscalex100 serioas\u259?. \par\pard\qj \li2519\ri2276\sb3\sl-260\slmul
t0\fi678 \up0 \expndtw-6\charscalex100 Pentru a ilustra mai bine aceste aspecte,
s\u259? presupunem existen\u355?a unei pie\u355?e \up0 \expndtw-5\charscalex100
a muncii cu dou\u259? sectoare: o pia\u355?\u259? A pentru muncitorii din indus
tria automobilelor \up0 \expndtw0\charscalex100 \u351?i o pia\u355?\u259? B pent
ru speciali\u351?tii din domeniul computerelor. Ambele pie\u355?e sunt \up0 \exp
ndtw-3\charscalex100 ini\u355?ial n echilibru. Date fiind curbele cererii \u351?i
ofertei de munc\u259? pe ambele pie\u355?e \up0 \expndtw-5\charscalex100 (D\ul0
\sub\cf26\f27\fs23 0A\ul0\nosupersub\cf53\f54\fs22 , S\ul0\sub\cf26\f27\fs23 0A
\ul0\nosupersub\cf53\f54\fs22 ) \u351?i (D\ul0\sub\cf26\f27\fs23 0B\ul0\nosupers
ub\cf53\f54\fs22 , S\ul0\sub\cf26\f27\fs23 0B\ul0\nosupersub\cf53\f54\fs22 ),\u
l0\nosupersub\cf54\f55\fs22 \ul0\nosupersub\cf53\f54\fs22 perechile\ul0\nosuper
sub\cf54\f55\fs22 (salariu de\ul0\nosupersub\cf53\f54\fs22 \ul0\nosupersub\cf5
4\f55\fs22 echilibru, num\u259?r de angaja\u355?i)\ul0\nosupersub\cf53\f54\fs22
vor fi \up0 \expndtw-6\charscalex100 (w\ul0\sub\cf26\f27\fs23 0A\ul0\nosupersub
\cf53\f54\fs22 , E\ul0\sub\cf26\f27\fs23 0A\ul0\nosupersub\cf53\f54\fs22 ) \u35
1?i (w\ul0\sub\cf26\f27\fs23 0B\ul0\nosupersub\cf53\f54\fs22 , E\ul0\sub\cf26\f2
7\fs23 0B \ul0\nosupersub\cf53\f54\fs22 ). Salariile de echilibru nu vor fi iden
tice datorit\u259? costurilor \up0 \expndtw-6\charscalex100 diferite ale instrui
rii pe cele dou\u259? pie\u355?e.\par\pard\sect\sectd\sbknone\cols2\colno1\colw7
417\colsr160\colno2\colw4523\colsr160\ql \li2602\sb0\sl-264\slmult0 \par\pard\ql
\li2775\sb191\sl-264\slmult0\tx6097 \up0 \expndtw-3\charscalex100 \ul0\nosupers
ub\cf54\f55\fs22 w\tab \up0 \expndtw-3\charscalex100 w\par\pard\ql \li4920\sb64\
sl-194\slmult0 \up0 \expndtw-2\charscalex100 S\ul0\sub\cf23\f24\fs23 0A\par\pard
\ql \li2602\sb0\sl-264\slmult0 \par\pard\ql \li2602\sb98\sl-264\slmult0\tx6064 \
up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf54\f55\fs22 w\ul0\sub\cf23\f24\fs
23 0A\tab \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf54\f55\fs22 w\ul0\sub\
cf23\f24\fs23 1B\par\pard\ql \li5287\sb117\sl-264\slmult0\tx6017 \up0 \expndtw-2
\charscalex100 \ul0\nosupersub\cf54\f55\fs22 D\ul0\sub\cf23\f24\fs23 0A\tab \up0
\expndtw-2\charscalex100 \ul0\nosupersub\cf54\f55\fs22 w\ul0\sub\cf23\f24\fs23
0B\par\pard\ql \li3639\sb0\sl-264\slmult0 \par\pard\ql \li5014\sb64\sl-264\slmul
t0 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf54\f55\fs22 D\ul0\sub\cf23\f2
4\fs23 1A\par\pard\ql \li3716\sb244\sl-264\slmult0\tx4505\tx5276 \up0 \expndtw-2
\charscalex100 \ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23 1A\tab \up0
\expndtw-2\charscalex100 \ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23
0A\tab \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf54\f55\fs22 E\par\pard\co
lumn \ql \li3639\sb0\sl-264\slmult0 \par\pard\ql \li3639\sb0\sl-264\slmult0 \par
\pard\ql \li3639\sb0\sl-264\slmult0 \par\pard\ql \li3639\sb0\sl-264\slmult0 \par

\pard\ql \li1168\sb13\sl-264\slmult0 \up0 \expndtw-2\charscalex100 S\ul0\sub\cf2


3\f24\fs23 0B\par\pard\ql \li3639\sb0\sl-264\slmult0 \par\pard\ql \li3639\sb0\sl
-264\slmult0 \par\pard\ql \li1078\sb100\sl-264\slmult0 \up0 \expndtw-2\charscale
x100 \ul0\nosupersub\cf54\f55\fs22 D\ul0\sub\cf23\f24\fs23 1B\par\pard\ql \li881
\sb186\sl-264\slmult0 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf54\f55\fs2
2 D\ul0\sub\cf23\f24\fs23 0B\par\pard\ql \li20\sb240\sl-264\slmult0\tx1501 \up0
\expndtw-3\charscalex100 \ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23 0
B \ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23 1B\tab \up0 \expndtw3\charscalex100 \ul0\nosupersub\cf54\f55\fs22 E \par\pard\sect\sectd\sbknone \li
3639\sb111\sl-218\slmult0\fi0\tx7704 \up0 \expndtw-2\charscalex100 \ul0\nosupers
ub\cf9\f10\fs18 Pia\u355?a muncii A\tab \up0 \expndtw-2\charscalex100 Pia\u355?a
muncii B\par\pard\ql \li5720\sb127\sl-218\slmult0 \up0 \expndtw-6\charscalex100
\ul0\nosupersub\cf24\f25\fs18 Figura 7.5 \par\pard\qj \li2519\ri2336\sb208\sl-2
60\slmult0\fi678 \up0 \expndtw0\charscalex102 \ul0\nosupersub\cf53\f54\fs22 Pres
upunem c\u259? cererea pentru muncitorii din industria automobilelor \line \up0
\expndtw0\charscalex102 scade la nivelul \ul0\nosupersub\cf54\f55\fs22 D\ul0\sub
\cf23\f24\fs23 1A\ul0\nosupersub\cf53\f54\fs22 ,\ul0\sub\cf23\f24\fs23 \ul0\sub
\cf26\f27\fs23 \ul0\nosupersub\cf53\f54\fs22 ca rezultat al concuren\u355?ei cu
importurile str\u259?ine, n timp \line \up0 \expndtw0\charscalex105 ce cererea d
e speciali\u351?ti n computere cre\u351?te, drept consecin\u355?\u259? a r\u259?s
pndirii \line \up0 \expndtw0\charscalex102 utiliz\u259?rii acestora. Pe pia\u355?
a \ul0\nosupersub\cf54\f55\fs22 A\ul0\nosupersub\cf53\f54\fs22 , datorit\u259? p
revederilor contractelor sindicale sau \line \up0 \expndtw0\charscalex100 legisl
a\u355?iei guvernamentale, salariile sunt inflexibile n sens descresc\u259?tor, a
stfel \line \up0 \expndtw0\charscalex109 nct num\u259?rul de angaja\u355?i va sc\u
259?dea la nivelul \ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23 1A\ul0\
nosupersub\cf53\f54\fs22 . Pe pia\u355?a \ul0\nosupersub\cf54\f55\fs22 B\ul0\nos
upersub\cf53\f54\fs22 salariile \u351?i \line \up0 \expndtw0\charscalex102 num\
u259?rul angaja\u355?ilor vor cre\u351?te la nivelul \ul0\nosupersub\cf54\f55\fs
22 w\ul0\sub\cf23\f24\fs23 1B\ul0\nosupersub\cf53\f54\fs22 \u351?i \ul0\nosuper
sub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23 1B\ul0\nosupersub\cf53\f54\fs22 . Prin
urmare un num\u259?r de \line \up0 \expndtw-2\charscalex100 \u351?omeri egal cu
diferen\u355?a \ul0\nosupersub\cf54\f55\fs22 E\ul0\sub\cf23\f24\fs23 0A \ul0\no
supersub\cf54\f55\fs22 - E\ul0\sub\cf23\f24\fs23 0B\ul0\nosupersub\cf53\f54\fs22
va fi creat pe termen scurt. \par\pard\qj \li2519\ri2275\sb260\sl-260\slmult0\
fi678 \up0 \expndtw0\charscalex100 Dac\u259? muncitorii din industria automobile
lor ar putea deveni, cu costuri \line \up0 \expndtw0\charscalex104 reduse, speci
ali\u351?ti n computere, ace\u351?ti \u351?omeri s-ar \u8222?muta\u8220? rapid pe
pia\u355?a B, \line \up0 \expndtw-4\charscalex100 \u351?omajul structural fiind
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b0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0
\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\s
l-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-26
0\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\
slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\sl
mult0 \par\pard\qj\li2519\ri2275\sb105\sl-260\slmult0 \up0 \expndtw-5\charscalex
100 \ul0\nosupersub\cf53\f54\fs22 costurile ajust\u259?rii for\u355?ei de munc\u
259? la necesit\u259?\u355?ile pie\u355?ei vor fi destul de mari pentru \up0 \ex
pndtw-7\charscalex100 a ntrzia acest tip de mi\u351?c\u259?ri. \par\pard\ql \li252
0\ri2274\sb0\sl-260\slmult0\fi677\tx3198 \up0 \expndtw0\charscalex102 ntr-un mod
asem\u259?n\u259?tor se pot analiza \u351?i dezechilibrele geografice n \line \up
0 \expndtw-6\charscalex100 c\u259?utarea for\u355?ei de munc\u259?. n aceste situ
a\u355?ii se identific\u259? un \ul0\nosupersub\cf54\f55\fs22 \u351?omaj regiona
l. \line \tab \up0 \expndtw0\charscalex100 \ul0\nosupersub\cf53\f54\fs22 \u350?o
majul structural apare din cauza schimb\u259?rilor esen\u355?iale ale cererii de
\up0 \expndtw-1\charscalex100 munc\u259? fa\u355?\u259? de salariile rigide \u3
51?i costurile ridicate ale mobilit\u259?\u355?ii ocupa\u355?ionale \u351?i \up0
\expndtw-3\charscalex100 geografice. \u350?omerii inclu\u351?i n \u351?omajul st
ructural au o mai mic\u259? probabilitate de a \up0 \expndtw0\charscalex100 trec
e de la statutul de \u351?omer la cel de angajat. Orice m\u259?suri de politic\u
259? social\u259? \up0 \expndtw-3\charscalex100 ndreptate spre cre\u351?terea ace
stei probabilit\u259?\u355?i au drept scop diminuarea \u351?omajului \up0 \expnd
tw-1\charscalex100 structural. Exemple de asemenea politici sunt cele de subven\
u355?ionare a instruirii \up0 \expndtw-3\charscalex100 \u351?omerilor, de mbun\u2
59?t\u259?\u355?ire a informa\u355?iilor despre condi\u355?iile locurilor de mun
c\u259? \u351?i \up0 \expndtw-7\charscalex100 de reducere a costurilor migr\u259
?rii interne. \par\pard\qj \li2519\ri2273\sb0\sl-260\slmult0\fi678 \up0 \expndtw
-5\charscalex100 \u350?omajul structural a fost atribuit, dup\u259? cum s-a putu
t constata, diferen\u355?elor \line \up0 \expndtw-6\charscalex100 dintre cererea
\u351?i oferta de for\u355?\u259? de munc\u259? n condi\u355?iile costurilor rid
icate de ajustare \line \up0 \expndtw-3\charscalex100 a \ul0\nosupersub\cf54\f55
\fs22 ofertei\ul0\nosupersub\cf53\f54\fs22 la necesit\u259?\u355?ile pie\u355?e
i. Teorii economice dintre cele mai recente afirm\u259? c\u259? \line \up0 \expn
dtw0\charscalex100 cel pu\u355?in un segment al \u351?omajului poate fi atribuit
comportamentului produc\u259?-\line \up0 \expndtw-2\charscalex100 torilor de ma
ximizare a profitului. Concret, s-a demonstrat c\u259? \u351?omajul structural \
line \up0 \expndtw0\charscalex100 poate ap\u259?rea \u351?i dac\u259? anumi\u355
?i produc\u259?tori pl\u259?tesc salarii mai mari dect salariul \line \up0 \expnd
tw-3\charscalex100 considerat eficient pentru a cre\u351?te productivitatea sau
pentru a reduce deplas\u259?rile \line \up0 \expndtw-5\charscalex100 de personal
. Decizia voluntar\u259? a acestor produc\u259?tori este cea care men\u355?ine s
alariul \line \up0 \expndtw-1\charscalex100 la un nivel ridicat, \u351?i acesta
nu va fi cobort nici dac\u259? al\u355?i muncitori de pe pia\u355?a \line \up0 \e
xpndtw-7\charscalex100 muncii (\u351?omeri) \u351?i ofer\u259? serviciile la un s

alariu mai mic. \par\pard\qj \li2519\ri2276\sb0\sl-260\slmult0\fi678 \up0 \expnd


tw-5\charscalex100 Angaja\u355?ii cu salarii mici \u351?i vor dori s\u259? lucrez
e n firmele cu salarii mari \u351?i, \up0 \expndtw0\charscalex100 att timp ct exist
\u259? posibilitatea unor slujbe vacante pe viitor, ei se vor \u8222?ata\u351?a\
u8220? \up0 \expndtw-4\charscalex100 sectorului cu salarii mari, prefernd s\u259?
a\u351?tepte apari\u355?ia unui loc liber. Prin urmare, \up0 \expndtw-7\charsca
lex100 din cauza acestui comportament, apare un \ul0\nosupersub\cf54\f55\fs22 \u
351?omaj de a\u351?teptare. \par\pard\qj \li2519\ri2276\sb260\sl-260\slmult0\fi6
78 \up0 \expndtw0\charscalex100 \ul0\nosupersub\cf14\f15\fs22 n func\u355?ie de r
aportul cerere-ofert\u259? de pe diverse pie\u355?e \u351?i de impactul \line \u
p0 \expndtw-4\charscalex100 acestora asupra pie\u355?ei muncii,\ul0\nosupersub\c
f56\f57\fs22 teoria economic\u259? a pus n eviden\u355?\u259? dou\u259? forme de
\line \up0 \expndtw-7\charscalex100 \u351?omaj: \par\pard\qj \li2519\ri2272\sb2
60\sl-260\slmult0\fi678 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\cf16\f17\f
s22 1. \u350?omajul clasic\ul0\nosupersub\cf53\f54\fs22 , ca urmare a re\u355?in
erii ntreprinz\u259?torilor de a produce o \line \up0 \expndtw-1\charscalex100 ca
ntitate mai mare de bunuri \u351?i servicii. Chiar dac\u259? exist\u259? cerere
efectiv\u259?, ntre-\line \up0 \expndtw-3\charscalex100 prinz\u259?torii nu sunt
interesa\u355?i de l\u259?rgirea capacit\u259?\u355?ilor de produc\u355?ie \u351
?i de angajarea \line \up0 \expndtw-3\charscalex100 de for\u355?\u259? supliment
ar\u259? de produc\u355?ie deoarece firmele fie sunt n pierdere de \par\pard\qj\p
vpg\phpg\posx6346\posy15305\absw325 \expndtw-3\charscalex10015
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{\sp{\sn pVerticies}{\sv 8;5;(0,20);(7260,20);(7260,0);(0,0);(0,20)}}
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}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g16}{\bkmkend Pg16}\par\pard\qj \li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\s
b0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0
\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\s
l-260\slmult0 \par\pard\qj\li2519\sb0\sl-260\slmult0 \par\pard\qj\li2519\sb0\sl260\slmult0 \par\pard\qj\li2519\ri2276\sb125\sl-260\slmult0 \up0 \expndtw-1\char
scalex100 \ul0\nosupersub\cf53\f54\fs22 competitivitate - ca urmare a costurilor
de produc\u355?ie mai mari - fie nu-\u351?i asum\u259? \up0 \expndtw-6\charscal
ex100 noi riscuri; acest tip este numit \u351?i \u351?omaj prin eficien\u355?\u2
59? a produc\u355?iei\ul0\super\cf26\f27\fs22 4\ul0\nosupersub\cf53\f54\fs22 . \
par\pard\qj \li2519\ri2276\sb260\sl-260\slmult0\fi678 \up0 \expndtw-2\charscalex
100 \ul0\nosupersub\cf16\f17\fs22 2. \u350?omajul ciclic\ul0\nosupersub\cf8\f9\f
s22 \ul0\nosupersub\cf53\f54\fs22 sau \u351?omajul prin insuficien\u355?a cerer
ii, care apare atunci \up0 \expndtw-4\charscalex100 cnd cererea de bunuri \u351?i
servicii din toate sectoarele economiei (economia real\u259?, \up0 \expndtw0\ch
arscalex100 sectorul menaje sau restul lumii) este mai mic\u259? dect oferta. Con
secin\u355?a este o \up0 \expndtw-7\charscalex100 ofert\u259? de for\u355?\u259?
de munc\u259? mai mare dect cererea. \par\pard\qj \li2520\ri2275\sb0\sl-260\slmu
lt0\fi677 \up0 \expndtw0\charscalex103 \u350?omajul fric\u355?ional sau cel stru
ctural poate ap\u259?rea chiar dac\u259?, la nivel \up0 \expndtw-1\charscalex100
agregat, cererea total\u259? de munc\u259? egaleaz\u259? oferta. \u350?omajul c
iclic este asociat cu \up0 \expndtw-4\charscalex100 fluctua\u355?iile n ciclul af
acerilor \u351?i apare atunci cnd o sc\u259?dere a cererii agregate pe \up0 \expn
dtw0\charscalex100 pia\u355?a bunurilor \u351?i serviciilor determin\u259? o sc\
u259?dere a cererii agregate de for\u355?\u259? de \up0 \expndtw0\charscalex106
munc\u259?, simultan cu inflexibilitatea salariilor reale. Acest tip de \u351?om
aj este \up0 \expndtw0\charscalex104 cunoscut n literatura economic\u259? \u351?i

sub numele de \u8222?\ul0\nosupersub\cf54\f55\fs22 \u351?omaj keynesian\ul0\nos


upersub\cf53\f54\fs22 \u8220?\ul0\nosupersub\cf54\f55\fs22 ,\ul0\nosupersub\cf53
\f54\fs22 dup\u259? \up0 \expndtw-7\charscalex100 numele celui care l-a identif
icat \u351?i l-a analizat. \par\pard\qj \li2519\ri2273\sb0\sl-260\slmult0\fi678
\up0 \expndtw-1\charscalex100 O reac\u355?ie adecvat\u259? a guvernului la \u351
?omajul ciclic este s\u259? impun\u259? politici \up0 \expndtw-1\charscalex100 e
conomice de cre\u351?tere a cererii agregate, crescnd cheltuielile guvernamentale
, \up0 \expndtw0\charscalex100 reducnd taxele \u351?i impozitele \u351?i m\u259?r
ind rata de cre\u351?tere a ofertei de bani. Alte \up0 \expndtw0\charscalex102 m
\u259?suri de politic\u259? economic\u259? se refer\u259? la elaborarea unor pro
grame concrete \up0 \expndtw-5\charscalex100 concentrate asupra \u351?omajului,
incluznd credite temporare pentru dezvoltarea unor \up0 \expndtw-6\charscalex100
programe anti\u351?omaj de c\u259?tre firme private sau sectorul public. \par\pa
rd\qj \li2519\ri2275\sb240\sl-260\slmult0\fi678 \up0 \expndtw-3\charscalex100 \u
l0\nosupersub\cf16\f17\fs22 3. \u350?omajul sezonier\ul0\nosupersub\cf53\f54\fs2
2 este similar celui ciclic, n sensul c\u259? este determinat \up0 \expndtw-4\ch
arscalex100 de fluctua\u355?iile cererii de for\u355?\u259? de munc\u259?. n aces
t caz fluctua\u355?iile cererii de munc\u259? \up0 \expndtw-3\charscalex100 pot
fi anticipate \u351?i urmeaz\u259? un model sistematic de-a lungul anului. De ex
emplu, \up0 \expndtw-6\charscalex100 cererea de munc\u259? n agricultur\u259? sau
construc\u355?ii scade n lunile de iarn\u259?. \par\pard\qj \li2520\ri2274\sb0\s
l-260\slmult0\fi730 \up0 \expndtw-2\charscalex100 ntrebarea care se pune \u351?i n
acest caz este de ce firmele reac\u355?ioneaz\u259? la \line \up0 \expndtw-2\ch
arscalex100 varia\u355?iile sezoniere ale cererii de munc\u259? prin disponibili
zarea personalului, \u351?i nu \line \up0 \expndtw0\charscalex103 prin reducerea
salariului sau timpului de lucru. De asemenea, se poate pune \line \up0 \expndt
w0\charscalex105 ntrebarea de ce muncitorii accept\u259? locuri de munc\u259? n se
ctoare cu caracter \line \up0 \expndtw-6\charscalex100 sezonier. R\u259?spunsul
ar fi c\u259?, pentru unii muncitori, existen\u355?a ajutorului de \u351?omaj pe
\line \up0 \expndtw-6\charscalex100 perioada ct nu lucreaz\u259? \u351?i posibil
itatea de a fi reangaja\u355?i ulterior echivaleaz\u259? cu un \line \up0 \expnd
tw-1\charscalex100 concediu pl\u259?tit. Pentru a-i atrage pe muncitori n asemene
a sectoare, firmele va \line \up0 \expndtw-4\charscalex100 trebui s\u259? pl\u25
9?teasc\u259? muncitorilor salarii mai mari, care s\u259? compenseze faptul c\u2
59? nu \line \up0 \expndtw-7\charscalex100 vor lucra o perioad\u259?. \par\pard\
qj \li2520\ri2276\sb0\sl-260\slmult0\fi678 \up0 \expndtw0\charscalex100 n economi
ile contemporane \ul0\nosupersub\cf59\f60\fs22 nu exist\u259? forme pure de \u35
1?omaj\ul0\nosupersub\cf53\f54\fs22 . Diferitele \up0 \expndtw-7\charscalex100 f
orme de \u351?omaj coexist\u259?, se ntrep\u259?trund \u351?i se sus\u355?in reci
proc. \par\pard\qj \li2520\ri2275\sb260\sl-260\slmult0\fi677 \up0 \expndtw0\char
scalex102 \ul0\nosupersub\cf16\f17\fs22 Rata natural\u259? a \u351?omajului\ul0\
nosupersub\cf53\f54\fs22 corespunde func\u355?ion\u259?rii normale a pie\u355?e
i \up0 \expndtw0\charscalex100 muncii \u351?i este asociat\u259? cu ocuparea tot
al\u259? a for\u355?ei de munc\u259?. \u350?omajul poate fi \up0 \expndtw-7\char
scalex100 considerat excesiv n orice \u355?ar\u259? dac\u259? dep\u259?\u351?e\u3
51?te nivelul s\u259?u natural. \par\pard\ql \li2520\sb0\sl-218\slmult0 \par\par
d\ql\li2520\sb117\sl-218\slmult0 \up0 \expndtw-5\charscalex100 \ul0\super\cf41\f
42\fs19\ul0\super\cf41\f42\fs18 4\ul0\nosupersub\cf2\f3\fs18 R. Salais, \ul0\no
supersub\cf58\f59\fs18 L\u8217?emploi et le chomage\ul0\nosupersub\cf2\f3\fs18 ,
Enciclopedie Franaise, Ed. Economica, Paris, 1990, pag. 23. \par\pard\qj\pvpg\ph
pg\posx6346\posy15305\absw325 \expndtw-3\charscalex100\ul0\nosupersub\cf53\f54\f
s22 16
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g17}{\bkmkend Pg17}\par\pard\qj \li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\s
b0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0
\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\s
l-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl260\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-26
0\slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\
slmult0 \par\pard\qj\li2520\sb0\sl-260\slmult0 \par\pard\qj\li2520\sb0\sl-260\sl
mult0 \par\pard\qj\li2520\ri2275\sb105\sl-260\slmult0\fi677 \up0 \expndtw-6\char
scalex100 \ul0\nosupersub\cf53\f54\fs22 Definirea ratei naturale a \u351?omajulu
i este destul de dificil\u259?, dar exist\u259? cteva \up0 \expndtw-5\charscalex1
00 abord\u259?ri n acest sens. n continuare vom face o succint\u259? sintez\u259?
a defini\u355?iilor date \up0 \expndtw-7\charscalex100 n teoria economic\u259? ra
tei naturale a \u351?omajului. \par\pard\qj \li2519\ri2275\sb0\sl-260\slmult0\fi
678 \up0 \expndtw-5\charscalex100 Unii economi\u351?ti definesc rata natural\u25
9? a \u351?omajului ca fiind rata la care att \line \up0 \expndtw-4\charscalex100
salariile, ct \u351?i infla\u355?ia sunt fie stabile, fie la niveluri acceptabil
e. Dup\u259? al\u355?i autori, \line \up0 \expndtw-5\charscalex100 rata natural\
u259? a \u351?omajului este rata \u351?omajului pentru care locurile de munc\u25
9? vacante \line \up0 \expndtw0\charscalex106 sunt egale cu num\u259?rul de \u35
1?omeri. O alt\u259? defini\u355?ie afirm\u259? c\u259? rata natural\u259? a \li
ne \up0 \expndtw0\charscalex102 \u351?omajului este nivelul \u351?omajului la ca
re orice cre\u351?tere n cererea agregat\u259? nu \line \up0 \expndtw-1\charscale
x100 determin\u259? reducerea \u351?omajului. Potrivit unei variante a acestei
ultime defini\u355?ii, \line \up0 \expndtw-3\charscalex100 rata natural\u259? a
\u351?omajului este rata la care to\u355?i \u351?omerii sunt voluntari, adic\u25
9? exist\u259? \line \up0 \expndtw-6\charscalex100 doar \u351?omaj ciclic \u351?
i, eventual, sezonier. n cele din urm\u259?, o recent\u259? defini\u355?ie dat\u2
59? de \line \up0 \expndtw-2\charscalex100 James Tobin\ul0\super\cf26\f27\fs22 5
\ul0\nosupersub\cf53\f54\fs22 afirm\u259? c\u259? rata natural\u259? este rata
\u351?omajului la care nivelul acestuia \line \up0 \expndtw0\charscalex102 este
neschimbat \u351?i att fluctua\u355?iile existente la nivelul masei de \u351?omer
i, ct \u351?i \line \up0 \expndtw-7\charscalex100 durata \u351?omajului sunt norm
ale. \par\pard\qj \li2520\ri2276\sb0\sl-260\slmult0\fi677 \up0 \expndtw-6\charsc
alex100 Toate aceste defini\u355?ii ncearc\u259? s\u259? sintetizeze ntr-un mod sp
ecific conceptul \up0 \expndtw-7\charscalex100 mai general al \u8222?ocup\u259?r
ii totale\u8220? a for\u355?ei de munc\u259?. \par\pard\qj \li2519\ri2276\sb0\sl
-260\slmult0\fi678 \up0 \expndtw-6\charscalex100 Dac\u259? presupunem c\u259? \u
351?omajul fric\u355?ional \u351?i cel sezonier exist\u259? chiar \u351?i atunci
\line \up0 \expndtw0\charscalex102 cnd pia\u355?a for\u355?ei de munc\u259? se a
fl\u259? n echilibru, este evident c\u259? rata natural\u259? a \line \up0 \expnd
tw-5\charscalex100 \u351?omajului va fi afectat\u259? de factori ca: mi\u351?car
ea voluntar\u259? a angaja\u355?ilor, mi\u351?c\u259?rile n \line \up0 \expndtw0\
charscalex100 \u351?i n afara for\u355?ei de munc\u259?, durata n care \u351?omeri
i \u351?i g\u259?sesc slujbe acceptabile. \line \up0 \expndtw-6\charscalex100 Ace
\u351?ti ultimi factori variaz\u259? mult n cadrul grupurilor demografice, astfel
nct rata \line \up0 \expndtw-3\charscalex100 natural\u259? a \u351?omajului este
puternic afectat\u259? de compozi\u355?ia demografic\u259? a for\u355?ei de \lin
e \up0 \expndtw-6\charscalex100 munc\u259?. \par\pard\qj \li2520\ri2275\sb0\sl-2
60\slmult0\fi678 \up0 \expndtw-2\charscalex100 Atunci cnd o economie este n echili
bru pe termen lung, \u351?omajul se va \up0 \expndtw-3\charscalex100 situa la ra
ta sa natural\u259?. Din moment ce rata natural\u259? a \u351?omajului este un c
oncept \up0 \expndtw-6\charscalex100 teoretic, ea nu poate fi direct observat\u2
59? \u351?i prin urmare trebuie estimat\u259?. \par\pard\qj \li2520\ri2275\sb0\s
l-260\slmult0\fi678 \up0 \expndtw0\charscalex100 Economi\u351?tii au dou\u259? m
odalit\u259?\u355?i diferite pentru a estima rata natural\u259? a \up0 \expndtw0
\charscalex102 \u351?omajului. n primul rnd ei determin\u259? o ecua\u355?ie prin

care coreleaz\u259? \u351?omajul \up0 \expndtw-5\charscalex100 agregat cu rata i


nfla\u355?iei. Conceptual, rata natural\u259? a \u351?omajului este prezent\u259
? atunci \up0 \expndtw0\charscalex100 cnd rata \u351?omajului nu cre\u351?te \u35
1?i nici nu scade. Astfel, atunci cnd infla\u355?ia este \up0 \expndtw-4\charscal
ex100 constant\u259?, ecua\u355?ia ce stabile\u351?te leg\u259?tura dintre rata
infla\u355?iei \u351?i \u351?omaj furnizeaz\u259? un \up0 \expndtw-7\charscalex1
00 estimator pentru rata natural\u259? a \u351?omajului. \par\pard\qj \li2520\ri
2275\sb0\sl-260\slmult0\fi678 \up0 \expndtw0\charscalex101 A doua metod\u259? de
estimare a ratei naturale a \u351?omajului se bazeaz\u259? pe \line \up0 \expnd
tw-6\charscalex100 datele istorice legate de rata \u351?omajului de-a lungul uno
r perioade mari. Aceste date \par\pard\ql \li2520\sb0\sl-218\slmult0 \par\pard\q
l\li2520\sb117\sl-218\slmult0 \up0 \expndtw-6\charscalex100 \ul0\super\cf41\f42\
fs19\ul0\super\cf41\f42\fs18 5\ul0\nosupersub\cf2\f3\fs18 James Tobin, \ul0\no
supersub\cf58\f59\fs18 Unemployment and Inflation\ul0\nosupersub\cf2\f3\fs18 , Y
ale University, 1972. \par\pard\qj\pvpg\phpg\posx6346\posy15305\absw325 \expndtw
-3\charscalex100\ul0\nosupersub\cf53\f54\fs22 17
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{\sp{\sn fFillOK}{\sv 1}}{\sp{\sn fFilled}{\sv 1}}{\sp{\sn fillColor}{\sv 0}}{\s
p{\sn fLine}{\sv 0}}{\sp{\sn lineType}{\sv 0}}{\sp{\sn fArrowheadsOK}{\sv 1}}{\s
p{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}
}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g18}{\bkmkend Pg18}\par\pard\ql \li2519\sb0\sl-258\slmult0 \par\pard\ql\li2519\s
b0\sl-258\slmult0 \par\pard\ql\li2519\sb0\sl-258\slmult0 \par\pard\ql\li2519\sb0
\sl-258\slmult0 \par\pard\ql\li2519\sb0\sl-258\slmult0 \par\pard\ql\li2519\sb0\s
l-258\slmult0 \par\pard\ql\li2519\sb0\sl-258\slmult0 \par\pard\ql\li2519\sb0\sl258\slmult0 \par\pard\ql\li2519\ri2275\sb142\sl-258\slmult0\fi0\tx3197 \up0 \exp
ndtw-1\charscalex100 \ul0\nosupersub\cf53\f54\fs22 sunt diferite n func\u355?ie d
e grupurile demografice. Se estimeaz\u259? ratele \u351?omajului \line \up0 \exp
ndtw-7\charscalex100 pentru aceste grupuri demografice \u351?i apoi se agreg\u25
9? aceste estim\u259?ri. \line \tab \up0 \expndtw-6\charscalex100 C\u355?iva econ
omi\u351?ti au folosit una sau mai multe metode pentru a estima rata \up0 \expnd
tw-1\charscalex100 natural\u259? a \u351?omajului n diverse momente. Una dintre c
ele mai cunoscute \u351?i mai \up0 \expndtw0\charscalex103 citate estim\u259?ri
este cea a lui Robert Gordon de la Northwestern University\ul0\super\cf26\f27\fs
22 6\ul0\nosupersub\cf53\f54\fs22 . \up0 \expndtw-1\charscalex100 Estim\u259?ril
e sale se ncadreaz\u259? ntre limitele minime \u351?i maxime ale altor estim\u259?
ri \up0 \expndtw0\charscalex100 efectuate de al\u355?i economi\u351?ti. Pentru e
conomia SUA, rata natural\u259? a \u351?omajului \up0 \expndtw0\charscalex103 es
timat\u259? de Gordon a fost de 5,1% n anul 1955. n perioada 1960-1970 to\u355?i \
up0 \expndtw0\charscalex104 cercet\u259?torii sunt de acord c\u259? rata natural
\u259? a \u351?omajului a crescut ca urmare a \up0 \expndtw-4\charscalex100 mare

lui influx de tineri n rndul for\u355?ei de munc\u259?. Pn\u259? n anii \u8217?80 es


tim\u259?rile ratei \up0 \expndtw0\charscalex105 naturale au ajuns de la 5% la 7
%. Pe m\u259?sur\u259? ce genera\u355?ia \u8222?baby-boom\u8220? s-a \up0 \expnd
tw0\charscalex105 maturizat \u351?i cre\u351?terea for\u355?ei de munc\u259? a nc
etinit, n anii \u8217?80 rata natural\u259? a \up0 \expndtw-7\charscalex100 \u351
?omajului \u351?i-a diminuat ritmul de cre\u351?tere. \par\pard\qj \li2519\ri227
6\sb1\sl-260\slmult0\fi678 \up0 \expndtw-4\charscalex100 Cercet\u259?torii Dougl
as Staiger, J. Stork \u351?i Mark Watson\ul0\super\cf26\f27\fs22 7\ul0\nosupersu
b\cf53\f54\fs22 , care au f\u259?cut \u351?i ei \up0 \expndtw-4\charscalex100 es
tim\u259?ri ale ratei naturale, afirm\u259? c\u259? aceasta variaz\u259? n anii \
u8217?90 n economia SUA \up0 \expndtw-2\charscalex100 ntre 5,1% \u351?i 7,7%, cu u
n interval de ncredere de 95%. R. Gordon a demonstrat \up0 \expndtw-7\charscalex1
00 ns\u259? c\u259? rata natural\u259? a \u351?omajului variaz\u259? n limite mai
reduse. \par\pard\qj \li2520\ri2272\sb0\sl-260\slmult0\fi678 \up0 \expndtw-3\cha
rscalex100 Rata natural\u259? a \u351?omajului este analizat\u259? \u351?i din p
erspectiva leg\u259?turii \u351?oma-\line \up0 \expndtw-6\charscalex100 jului cu
infla\u355?ia: atunci cnd rata infla\u355?iei este stabil\u259?, constant\u259?,
se vorbe\u351?te de rata \line \up0 \expndtw0\charscalex100 natural\u259? a \u3
51?omajului, numit\u259? \u351?i NAIRU (\u8222?Non Accelerating Inflation Rate
of \line \up0 \expndtw-6\charscalex100 Unemployment\u8220?). \par\pard\qj \li251
9\ri2275\sb0\sl-260\slmult0\fi678 \up0 \expndtw0\charscalex100 Robert Eisner\ul0
\super\cf26\f27\fs22 8\ul0\nosupersub\cf53\f54\fs22 a analizat seriile infla\u3
55?iei \u351?i \u351?omajului de dup\u259? 1960 \u351?i a \up0 \expndtw-1\charsc
alex100 descoperit c\u259? leg\u259?tura dintre \u351?omaj \u351?i infla\u355?ie
este asimetric\u259? n urm\u259?torul sens: \up0 \expndtw0\charscalex104 ratele
\u351?omajului mai mici dect rata natural\u259? a \u351?omajului (NAIRU) nu erau
\up0 \expndtw0\charscalex100 asociate cu infla\u355?ia accelerat\u259?, n timp ce
ratele \u351?omajului mai mari dect rata \up0 \expndtw-7\charscalex100 natural\u
259? a \u351?omajului erau asociate cu infla\u355?ia descresc\u259?toare. \par\p
ard\qj \li2520\ri2275\sb0\sl-260\slmult0\fi677 \up0 \expndtw-1\charscalex100 Ace
ste rezultate implic\u259? urm\u259?toarea concluzie, aparent paradoxal\u259?: r
ata \up0 \expndtw-6\charscalex100 natural\u259? a \u351?omajului poate fi \u351?
i un rezultat al m\u259?surilor de politic\u259? economic\u259?, \u351?i nu \up0
\expndtw-7\charscalex100 numai o cauz\u259? a acestora. \par\pard\qj \li2520\ri
2272\sb0\sl-260\slmult0\fi678 \up0 \expndtw-7\charscalex100 Economistul american
Gregory N. Mankiw, profesor la Harvard University, \up0 \expndtw-6\charscalex10
0 define\u351?te rata natural\u259? a \u351?omajului ca fiind rata medie a \u351
?omajului n jurul c\u259?reia se \up0 \expndtw-6\charscalex100 manifest\u259? flu
ctua\u355?iile economice\ul0\super\cf26\f27\fs22 9\ul0\nosupersub\cf53\f54\fs22
. El calculeaz\u259? acest indicator ca o medie a ratelor \up0 \expndtw-7\charsc
alex100 anuale ale \u351?omajului pe o perioad\u259? de zece ani anteriori \u351
?i zece ani ulteriori momen\up0 \expndtw-9\charscalex100 tului \up0 \expndtw0\ch
arscalex103 (anului) pentru care se face analiza. Utiliznd acest mod de calcul, e
l a \up0 \expndtw-8\charscalex100 determinat o rat\u259? natural\u259? a \u351?o
majului pentru economia american\u259? cu valori ntre 4% \up0 \expndtw-9\charscal
ex100 \u351?i 7%, pe o perioad\u259? de 45 de ani ntre 1945 \u351?i 1990. \par\pa
rd\ql \li2520\sb0\sl-218\slmult0 \par\pard\ql\li2520\sb77\sl-218\slmult0 \up0 \e
xpndtw-2\charscalex100 \ul0\super\cf41\f42\fs19\ul0\super\cf41\f42\fs18 6\ul0\no
supersub\cf2\f3\fs18 Robert Gordon, \ul0\nosupersub\cf58\f59\fs18 Macroeconomic
s, \ul0\nosupersub\cf2\f3\fs18 Scott Foresman Company, Glenview, 1990. \par\pard
\qj \li2520\ri2361\sb0\sl-220\slmult0 \up0 \expndtw0\charscalex105 \ul0\super\cf
41\f42\fs18 7\ul0\nosupersub\cf2\f3\fs18 Douglas Staiger, James Stork, Mark Wa
tson, \ul0\nosupersub\cf58\f59\fs18 The Phillips curve is alive and well\ul0\nos
upersub\cf2\f3\fs18 , New \up0 \expndtw-2\charscalex100 England Economic Review,
1995, pag. 41-56. \par\pard\qj \li2520\ri2365\sb0\sl-220\slmult0 \up0 \expndtw0
\charscalex110 \ul0\super\cf41\f42\fs18 8\ul0\nosupersub\cf2\f3\fs18 Eisner, Rob
ert, \ul0\nosupersub\cf58\f59\fs18 A New View of the NAIRU, \ul0\nosupersub\cf2\
f3\fs18 Department of Economics, Northwestern \up0 \expndtw-2\charscalex100 Univ
ersity, 1996. \par\pard\ql \li2520\sb0\sl-197\slmult0 \up0 \expndtw-2\charscalex
100 \ul0\super\cf41\f42\fs18 9\ul0\nosupersub\cf2\f3\fs18 Mankiw, Gregory N., \

ul0\nosupersub\cf58\f59\fs18 Macroeconomics, \ul0\nosupersub\cf2\f3\fs18 Worth P


ublishers, New York, 1992. \par\pard\qj\pvpg\phpg\posx6346\posy15305\absw325 \ex
pndtw-3\charscalex100\ul0\nosupersub\cf53\f54\fs22 18
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}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g19}{\bkmkend Pg19}\par\pard\ql \li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\s
b0\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0
\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\s
l-299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl299\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl-29
9\slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl-299\
slmult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb0\sl-299\sl
mult0 \par\pard\ql\li3197\sb0\sl-299\slmult0 \par\pard\ql\li3197\sb47\sl-299\slm
ult0 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf13\f14\fs26 7.4. \u350?omaj
ul \u351?i infla\u355?ia \par\pard\qj \li2519\ri2276\sb19\sl-253\slmult0\fi678 \
up0 \expndtw-4\charscalex100 \ul0\nosupersub\cf53\f54\fs22 De mul\u355?i ani eco
nomi\u351?tii afirm\u259? existen\u355?a unei \ul0\nosupersub\cf56\f57\fs22 core
la\u355?ii negative ntre rata \line \up0 \expndtw-1\charscalex100 infla\u355?iei,
pe de o parte, \u351?i rata \u351?omajului din economie, pe de alt\u259? parte\
ul0\nosupersub\cf53\f54\fs22 . Cu alte \line \up0 \expndtw0\charscalex104 cuvint
e, niveluri ridicate ale \u351?omajului sunt asociate cu niveluri sc\u259?zute a
le \line \up0 \expndtw-7\charscalex100 infla\u355?iei, \u351?i invers. \par\pard
\qj \li2519\ri2276\sb2\sl-260\slmult0\fi677 \up0 \expndtw-5\charscalex100 Rela\u
355?ia dintre infla\u355?ie \u351?i \u351?omaj este reprezentat\u259? grafic pri
n \ul0\nosupersub\cf16\f17\fs22 curba Phillips\ul0\nosupersub\cf53\f54\fs22 , \l
ine \up0 \expndtw-5\charscalex100 dup\u259? numele primului economist care a obs
ervat aceast\u259? leg\u259?tur\u259?, n figurile 7.6 \u351?i \par\pard\ql \li252
0\sb1\sl-259\slmult0 \up0 \expndtw-9\charscalex100 7.7. \par\pard\qj \li2520\ri2
275\sb1\sl-260\slmult0\fi678 \up0 \expndtw-3\charscalex100 Analiznd serii de date
ale infla\u355?iei \u351?i \u351?omajului, economi\u351?tii au remarcat \up0 \e
xpndtw0\charscalex100 faptul c\u259? leg\u259?tura invers\u259?, stabil\u259? di
ntre cei doi indicatori nu este ntotdeauna \up0 \expndtw0\charscalex104 valabil\u
259?. O interpretare alternativ\u259? a acelora\u351?i date ar fi aceea c\u259?,
n timp ce \up0 \expndtw-4\charscalex100 leg\u259?tura dintre infla\u355?ie \u351
?i \u351?omaj exist\u259? la un anumit moment, pozi\u355?ia curbelor este \up0 \
expndtw-7\charscalex100 determinat\u259? \u351?i de un num\u259?r de al\u355?i f
actori. \par\pard\ql \li4060\sb96\sl-241\slmult0 \up0 \expndtw-2\charscalex100 \
ul0\nosupersub\cf25\f26\fs20 Rata infla\u355?iei (%) \par\pard\li4300\sb0\sl-241
\slmult0\par\pard\li4300\sb83\sl-241\slmult0\fi1925 \up0 \expndtw-3\charscalex10
0 Curba Phillips\par\pard\li4300\sb209\sl-241\slmult0\fi0 \up0 \expndtw-3\charsc
alex100 7\par\pard\li4414\sb0\sl-264\slmult0\par\pard\li4414\sb224\sl-264\slmult
0\fi0\tx7081 \up0 \expndtw-2\charscalex100 2,\ul0\nosupersub\cf53\f54\fs22 5\tab
\dn4 \expndtw-2\charscalex100 \ul0\nosupersub\cf25\f26\fs20 Rata \u351?omajului
(%)\par\pard\ql \li4969\sb92\sl-241\slmult0 \up0 \expndtw-3\charscalex100 3 \pa
r\pard\ql \li4582\sb0\sl-218\slmult0 \par\pard\ql\li4582\sb60\sl-218\slmult0 \up
0 \expndtw-2\charscalex100 \ul0\nosupersub\cf24\f25\fs18 Figura 7.6. \ul0\nosup
ersub\cf58\f59\fs18 Curba Phillips n anul 1960 \par\pard\ql \li2520\sb61\sl-195\s
lmult0 \up0 \expndtw-1\charscalex100 \ul0\nosupersub\cf60\f61\fs17 Sursa\ul0\nos
upersub\cf61\f62\fs17 :\ul0\nosupersub\cf62\f63\fs17 R. Ehreberg, R. Smith, \ul
0\nosupersub\cf61\f62\fs17 Modern Labor Economics\ul0\nosupersub\cf62\f63\fs17 ,

4th edition\ul0\nosupersub\cf61\f62\fs17 , \ul0\nosupersub\cf62\f63\fs17 Harper


Collins Publishers, 1991. \par\pard\qj \li2519\ri2276\sb112\sl-260\slmult0\fi667
\up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf53\f54\fs22 Efectul net al aces
tor factori a fost deplasarea curbei Phillips spre dreapta \up0 \expndtw-6\chars
calex100 pentru perioada cuprins\u259? ntre anii 1960 \u351?i 1980. n ultimii ani
curba se pare c\u259? s-ar \up0 \expndtw-6\charscalex100 fi deplasat din nou spr
e stnga, dup\u259? opiniile unor economi\u351?ti americani. \par\pard\qj \li2519\
ri2277\sb0\sl-260\slmult0\fi678 \up0 \expndtw0\charscalex101 Se poate vorbi prin
urmare nu de \u8222?curba Phillips\u8220?, ci de o \u8222?familie de \up0 \expn
dtw-7\charscalex100 curbe\u8220?, ca n figura 7.7. \par\pard\qj\pvpg\phpg\posx634
6\posy15305\absw325 \expndtw-3\charscalex10019
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g20}{\bkmkend Pg20}\par\pard\ql \li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\s
b0\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0
\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0\s
l-250\slmult0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl250\slmult0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl-25
0\slmult0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl-250\
slmult0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl-250\sl
mult0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl-250\slmu
lt0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl-250\slmult
0 \par\pard\ql\li3206\sb0\sl-250\slmult0 \par\pard\ql\li3206\sb0\sl-250\slmult0
\par\pard\ql\li3206\ri7661\sb133\sl-250\slmult0\tx4193 \up0 \expndtw-2\charscale
x100 \ul0\nosupersub\cf25\f26\fs20 Rata infla\u355?iei \line \up0 \expndtw-2\cha
rscalex100 \u351?i a salariilor \line\tab \up0 \expndtw-2\charscalex100 \ul0\nos
upersub\cf54\f55\fs22 w\ul0\sub\cf23\f24\fs23 2 \par\pard\ql \li4198\sb0\sl-218\
slmult0 \par\pard\ql\li4198\sb139\sl-218\slmult0 \up0 \expndtw-3\charscalex100 \
ul0\nosupersub\cf54\f55\fs22 w\ul0\sub\cf23\f24\fs23 1 \par\pard\li4213\sb0\sl-2
76\slmult0\par\pard\li4213\sb59\sl-276\slmult0\fi0\tx7214 \dn3 \expndtw-2\charsc
alex100 \ul0\nosupersub\cf54\f55\fs22 w\ul0\sub\cf23\f24\fs23 0\tab \up0 \expndt
w-2\charscalex100 \ul0\nosupersub\cf25\f26\fs20 anii \u8217?80\par\pard\li4213\s
b235\sl-287\slmult0\fi748\tx6051\tx7240\tx8243 \dn4 \expndtw-2\charscalex100 \ul
0\nosupersub\cf54\f55\fs22 u\ul0\sub\cf23\f24\fs23 0\ul0\nosupersub\cf54\f55\fs2
2
u\ul0\sub\cf23\f24\fs23 1\tab \up0 \expndtw-2\charscalex100 \ul0\nosupersub

\cf54\f55\fs22 u\ul0\sub\cf23\f24\fs23 2\tab \dn2 \expndtw-2\charscalex100 \ul0\


nosupersub\cf25\f26\fs20 anii \u8217?70\tab \dn3 \expndtw-2\charscalex100 Rata \
u351?omajului\par\pard\ql \li6835\sb151\sl-241\slmult0 \up0 \expndtw-2\charscale
x100 anii \u8217?60 \par\pard\ql \li5695\sb138\sl-218\slmult0 \up0 \expndtw-2\ch
arscalex100 \ul0\nosupersub\cf24\f25\fs18 Figura 7.7 \par\pard\ql \li2519\ri2276
\sb8\sl-260\slmult0\fi678\tx3197 \up0 \expndtw-2\charscalex100 \ul0\nosupersub\c
f53\f54\fs22 Cu ajutorul curbelor Phillips, pentru un anumit nivel al infla\u355
?iei se poate \line \up0 \expndtw-6\charscalex100 determina nivelul NAIRU, dar s
e pot elabora \u351?i anumite politici macroeconomice. \line\tab \up0 \expndtw-6
\charscalex100 Curba Phillips pe termen scurt arat\u259? c\u259? rata \u351?omaj
ului este cu att mai mic\u259? \up0 \expndtw-6\charscalex100 cu ct salariile cresc
mai repede. Cu alte cuvinte, exist\u259? o leg\u259?tur\u259? invers\u259? ntre
rata \up0 \expndtw0\charscalex103 \u351?omajului \u351?i rata cre\u351?terii sal
ariilor, determinat\u259? de dinamica sectorului real, \up0 \expndtw-4\charscale
x100 respectiv cre\u351?terea economic\u259? este nso\u355?it\u259? de reducerea
\u351?omajului \u351?i de cre\u351?terea \up0 \expndtw-7\charscalex100 salariulu
i. \par\pard\qj \li2519\ri2276\sb0\sl-260\slmult0\fi678 \up0 \expndtw0\charscale
x100 Dac\u259? avem un nivel al pre\u355?urilor stabil, atunci curba Phillips pe
termen \up0 \expndtw-7\charscalex100 scurt este formal descris\u259? de ecua\u3
55?ia \par\pard\li3197\sb247\sl-276\slmult0\fi0\tx8670 \dn3 \expndtw-6\charscale
x100 \ul0\nosupersub\cf59\f60\fs22 r\ul0\nosupersub\cf63\f64\fs15 s\ul0\nosupers
ub\cf59\f60\fs22 = a - br\ul0\nosupersub\cf63\f64\fs15 \u351?\ul0\nosupersub\cf
59\f60\fs22 + cr\ul0\nosupersub\cf63\f64\fs15 q\ul0\nosupersub\cf53\f54\fs22
(forma liniar\u259?),\tab \up0 \expndtw-6\charscalex100 (7.7)\par\pard\ql \li251
9\sb254\sl-264\slmult0 \up0 \expndtw-7\charscalex100 cu: \par\pard\qj \li2881\ri
6805\sb20\sl-260\slmult0\fi0 \up0 \expndtw-6\charscalex100 \ul0\nosupersub\cf54\
f55\fs22 r\ul0\nosupersub\cf23\f24\fs15 s\ul0\nosupersub\cf26\f27\fs15 \ul0\nos
upersub\cf53\f54\fs22 - rata cre\u351?terii salariului; \up0 \expndtw-6\charscal
ex100 \ul0\nosupersub\cf54\f55\fs22 r\ul0\nosupersub\cf23\f24\fs15 \u351?\ul0\no
supersub\cf26\f27\fs15 \ul0\nosupersub\cf53\f54\fs22 - rata \u351?omajului; \pa
r\pard\ql \li2881\sb1\sl-259\slmult0 \up0 \expndtw-6\charscalex100 \ul0\nosupers
ub\cf54\f55\fs22 r\ul0\nosupersub\cf23\f24\fs15 q\ul0\nosupersub\cf53\f54\fs22
- rata cre\u351?terii productivit\u259?\u355?ii muncii; \par\pard\qj \li2881\ri2
312\sb0\sl-260\slmult0 \up0 \expndtw-6\charscalex100 \ul0\nosupersub\cf54\f55\fs
22 c\ul0\nosupersub\cf53\f54\fs22 - un parametru care m\u259?soar\u259? leg\u25
9?tura dintre productivitatea muncii \u351?i salarii; \up0 \expndtw-7\charscalex
100 \ul0\nosupersub\cf54\f55\fs22 a > 0, b > 0, c > 0. \par\pard\qj\pvpg\phpg\p
osx6346\posy15305\absw325 \expndtw-3\charscalex100\ul0\nosupersub\cf53\f54\fs22
20
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{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
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}
{\sp{\sn pVerticies}{\sv 8;17;(2111,2004);(1896,1994);(1686,1964);(1484,1914);(1
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{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
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{\sp{\sn pSegmentInfo}{\sv 2;11;16384;45824;1;45824;1;45824;1;45824;1;45824;3276
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{\shp {\*\shpinst\shpleft4581\shptop5404\shpright4656\shpbottom5480\shpfhdr0\shp

bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz584\shplid6
{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
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{\sp{\sn pVerticies}{\sv 8;4;(1,76);(38,1);(75,76);(1,76)}}
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}}
{\shp {\*\shpinst\shpleft5112\shptop5670\shpright7011\shpbottom7342\shpfhdr0\shp
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{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
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{\sp{\sn pVerticies}{\sv 8;17;(1898,1672);(1705,1663);(1516,1637);(1335,1597);(1
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{\shp {\*\shpinst\shpleft6117\shptop7208\shpright6118\shpbottom7501\shpfhdr0\shp
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}}
{\shp {\*\shpinst\shpleft5241\shptop7221\shpright5242\shpbottom7542\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft5108\shptop7475\shpright5109\shpbottom5803\shpfhdr0\shp
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}}

{\shp {\*\shpinst\shpleft5109\shptop6545\shpright4617\shpbottom6531\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft4099\shptop5856\shpright4513\shpbottom6134\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft4113\shptop6437\shpright4513\shpbottom6719\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft4099\shptop7064\shpright4553\shpbottom7331\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft2926\shptop5388\shpright4564\shpbottom5897\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft6768\shptop7978\shpright7540\shpbottom8245\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft7113\shptop7594\shpright8006\shpbottom7861\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft7059\shptop7042\shpright8006\shpbottom7342\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft8114\shptop7600\shpright9622\shpbottom7940\shpfhdr0\shp
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{\shp {\*\shpinst\shpleft4597\shptop7478\shpright9408\shpbottom7498\shpfhdr0\shp
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par\pard\li3197\sb0\sl-264\slmult0\par\pard\li3197\sb0\sl-264\slmult0\par\pard\l
i3197\sb0\sl-264\slmult0\par\pard\li3197\sb0\sl-264\slmult0\par\pard\li3197\sb0\
sl-264\slmult0\par\pard\li3197\sb0\sl-264\slmult0\par\pard\li3197\sb0\sl-264\slm
ult0\par\pard\li3197\sb0\sl-264\slmult0\par\pard\li3197\sb0\sl-264\slmult0\par\p
ard\li3197\sb0\sl-264\slmult0\par\pard\li3197\sb91\sl-264\slmult0\fi0\tx8722 \dn
2 \expndtw-7\charscalex100 \ul0\nosupersub\cf59\f60\fs22 r\ul0\nosupersub\cf63\f
64\fs15 s\ul0\nosupersub\cf59\f60\fs22 = f(r\ul0\nosupersub\cf63\f64\fs15 \u351
?\ul0\nosupersub\cf59\f60\fs22 , r\ul0\nosupersub\cf63\f64\fs15 q\ul0\nosupersub
\cf59\f60\fs22 )\tab \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf53\f54\fs22
(7.8)\par\pard\li3197\sb227\sl-264\slmult0\fi0 \up0 \expndtw-7\charscalex100 Fo
rma neliniar\u259? are propriet\u259?\u355?ile:\par\pard\li3197\sb2\sl-264\slmul
t0\fi43\tx3432\tx4166\tx4357 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf66\
f67\fs22 \u8706?\tab \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf64\f65\fs22
f\tab \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf66\f67\fs22 \u8706?\tab \
up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf64\f65\fs22 f\par\pard\li3197\sb0
\sl-207\slmult0\fi415\tx4550 \up0 \expndtw0\charscalex110 \ul0\nosupersub\cf66\f
67\fs22 <\ul0\nosupersub\cf64\f65\fs22 0,\tab \up0 \expndtw0\charscalex110 \ul0\
nosupersub\cf66\f67\fs22 >\ul0\nosupersub\cf64\f65\fs22 0.\par\pard\li3197\sb0\s
l-207\slmult0\fi42\tx4159\tx4494 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\c
f66\f67\fs22 \u8706?\t \up0 \expndtw-8\charscalex93 \ul0\nosupersub\cf64\f65\fs2
2 r\ul0\nosupersub\cf65\f66\fs15 \u351?\tab \up0 \expndtw0\charscalex115 \ul0\no
supersub\cf66\f67\fs22 \u8706?\ul0\nosupersub\cf64\f65\fs22 r\tab \dn3 \expndtw2\charscalex100 \ul0\nosupersub\cf65\f66\fs15 q\par\pard\ql \li3197\sb240\sl-264
\slmult0 \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf53\f54\fs22 n mod analog
se poate construi o \ul0\nosupersub\cf16\f17\fs22 curb\u259? Phillips pentru pr
e\u355?uri: \par\pard\li3214\sb0\sl-264\slmult0\par\pard\li3214\sb33\sl-264\slmu
lt0\fi0\tx8617 \dn2 \expndtw-5\charscalex100 \ul0\nosupersub\cf67\f68\fs22 r\ul0
\nosupersub\cf68\f69\fs15 p\ul0\nosupersub\cf67\f68\fs22 = d - br\ul0\nosupersu
b\cf68\f69\fs15 \u351?\ul0\nosupersub\cf67\f68\fs22 - hr\ul0\nosupersub\cf68\f6
9\fs15 q\ul0\nosupersub\cf53\f54\fs22 (forma liniar\u259?),\tab \up0 \expndtw-5
\charscalex100 (7.9)\par\pard\ql \li2553\sb215\sl-264\slmult0 \up0 \expndtw-7\ch
arscalex100 cu: \par\pard\qj \li2920\ri5727\sb40\sl-260\slmult0 \up0 \expndtw-6\
charscalex100 \ul0\nosupersub\cf64\f65\fs22 r\ul0\nosupersub\cf65\f66\fs15 p\ul0
\nosupersub\cf53\f54\fs22 - rata infla\u355?iei (cre\u351?terea pre\u355?urilo
r); \up0 \expndtw-6\charscalex100 \ul0\nosupersub\cf64\f65\fs22 r\ul0\nosupersub
\cf65\f66\fs15 \u351?\ul0\nosupersub\cf26\f27\fs15 \ul0\nosupersub\cf53\f54\fs2
2 - rata \u351?omajului; \par\pard\ql \li2920\sb1\sl-235\slmult0 \up0 \expndtw-6
\charscalex100 \ul0\nosupersub\cf64\f65\fs22 r\ul0\nosupersub\cf65\f66\fs15 q\ul
0\nosupersub\cf53\f54\fs22 - rata cre\u351?terii productivit\u259?\u355?ii munc
ii; \par\pard\qj \li2920\ri2355\sb0\sl-260\slmult0 \up0 \expndtw-8\charscalex100
\ul0\nosupersub\cf64\f65\fs22 h\ul0\nosupersub\cf53\f54\fs22 - un parametru ca
re m\u259?soar\u259? leg\u259?tura dintre productivitatea muncii \u351?i pre\u35
5?uri; \up0 \expndtw-8\charscalex100 \ul0\nosupersub\cf64\f65\fs22 d > 0, b > 0
, h > 0. \par\pard\li3175\sb232\sl-276\slmult0\fi0\tx8617 \dn3 \expndtw-6\charsc
alex100 \ul0\nosupersub\cf67\f68\fs22 r\ul0\nosupersub\cf68\f69\fs15 p\ul0\nosup
ersub\cf67\f68\fs22 = f(r\ul0\nosupersub\cf68\f69\fs15 \u351?\ul0\nosupersub\cf
67\f68\fs22 , r\ul0\nosupersub\cf68\f69\fs15 q\ul0\nosupersub\cf67\f68\fs22 )\ta
b \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf53\f54\fs22 (7.10)\par\pard\li
3175\sb263\sl-264\slmult0\fi22 \up0 \expndtw-7\charscalex100 Forma neliniar\u259

? se caracterizeaz\u259? prin:\par\pard\li3175\sb262\sl-264\slmult0\fi47\tx3413\
tx4156\tx4347 \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf71\f72\fs22 \u8706
?\tab \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf69\f70\fs22 f\tab \up0 \ex
pndtw-7\charscalex100 \ul0\nosupersub\cf71\f72\fs22 \u8706?\tab \up0 \expndtw-7\
charscalex100 \ul0\nosupersub\cf69\f70\fs22 f\par\pard\sect\sectd\sbknone\cols2\
colno1\colw3555\colsr40\colno2\colw8505\colsr160\ql \li3226\sb54\sl-264\slmult0
\up0 \expndtw0\charscalex115 \ul0\nosupersub\cf71\f72\fs22 \u8706?\ul0\nosupersu
b\cf69\f70\fs22 r\par\pard\ql \li3446\sb0\sl-117\slmult0 \up0 \expndtw-1\charsca
lex100 \ul0\nosupersub\cf70\f71\fs13 \u351?\par\pard\column \ql \li20\sb0\sl-207
\slmult0\tx962 \up0 \expndtw-5\charscalex100 \ul0\nosupersub\cf71\f72\fs22 < \up
0 \expndtw0\charscalex101 0\ul0\nosupersub\cf69\f70\fs22 ,\tab \up0 \expndtw0\ch
arscalex117 \ul0\nosupersub\cf71\f72\fs22 <0\par\pard\ql \li579\sb0\sl-176\slmul
t0 \up0 \expndtw0\charscalex116 \u8706?\ul0\nosupersub\cf69\f70\fs22 r\par\pard\
ql \li797\sb0\sl-117\slmult0 \up0 \expndtw-1\charscalex100 \ul0\nosupersub\cf70\
f71\fs13 q \par\pard\sect\sectd\sbknone \ql \li3197\sb152\sl-253\slmult0 \up0 \e
xpndtw-3\charscalex100 \ul0\nosupersub\cf16\f17\fs22 Curba Phillips n cazul antic
ip\u259?rii cre\u351?terii pre\u355?urilor \par\pard\qj \li2520\ri2275\sb2\sl-26
0\slmult0\fi677 \up0 \expndtw-5\charscalex100 \ul0\nosupersub\cf53\f54\fs22 Mai
apropiat\u259? de realitate este ns\u259? ipoteza c\u259? agen\u355?ii economici,
respectiv \up0 \expndtw0\charscalex102 att sindicatele, ct \u351?i patronatul, au
anumite a\u351?tept\u259?ri (previziuni) n ceea ce \up0 \expndtw-7\charscalex100
prive\u351?te evolu\u355?ia pre\u355?urilor. n acest caz curba Phillips devine:
\par\pard\li3197\sb47\sl-276\slmult0\fi0\tx8669 \dn3 \expndtw-5\charscalex100 \u
l0\nosupersub\cf67\f68\fs22 r\ul0\nosupersub\cf68\f69\fs15 s\ul0\nosupersub\cf67
\f68\fs22 = a - br\ul0\nosupersub\cf68\f69\fs15 \u351?\ul0\nosupersub\cf67\f68\
fs22 + cr\ul0\nosupersub\cf68\f69\fs15 q\ul0\nosupersub\cf67\f68\fs22 + gr\ul
0\nosupersub\cf68\f69\fs15 pa\ul0\nosupersub\cf67\f68\fs22 ,\tab \up0 \expndtw6\charscalex100 \ul0\nosupersub\cf53\f54\fs22 (7.11)\par\pard\ql \li2519\sb34\sl
-264\slmult0 \up0 \expndtw-7\charscalex100 cu: \par\pard\ql \li2762\sb36\sl-264\
slmult0 \up0 \expndtw-6\charscalex100 \ul0\nosupersub\cf64\f65\fs22 r\ul0\nosupe
rsub\cf65\f66\fs15 pa\ul0\nosupersub\cf53\f54\fs22 - rata a\u351?teptat\u259? a
infla\u355?iei; \par\pard\qj \li2762\ri2275\sb0\sl-260\slmult0 \up0 \expndtw-5\
charscalex100 \ul0\nosupersub\cf64\f65\fs22 g \ul0\nosupersub\cf53\f54\fs22 coeficient care indic\u259? influen\u355?a anticip\u259?rilor infla\u355?ioniste
asupra ritmului de \up0 \expndtw-7\charscalex100 cre\u351?tere a salariului. \p
ar\pard\li3202\sb2\sl-264\slmult0\fi0\tx8617 \dn2 \expndtw-7\charscalex100 \ul0\
nosupersub\cf67\f68\fs22 r\ul0\nosupersub\cf68\f69\fs15 s\ul0\nosupersub\cf67\f6
8\fs22 = f(r\ul0\nosupersub\cf68\f69\fs15 \u351?\ul0\nosupersub\cf67\f68\fs22 ,
r\ul0\nosupersub\cf68\f69\fs15 q\ul0\nosupersub\cf67\f68\fs22 , r\ul0\nosupers
ub\cf68\f69\fs15 pa\ul0\nosupersub\cf67\f68\fs22 )\tab \up0 \expndtw-7\charscale
x100 \ul0\nosupersub\cf53\f54\fs22 (7.12)\par\pard\qj\pvpg\phpg\posx6346\posy153
05\absw325 \expndtw-3\charscalex10021
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bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz21\shplid0
{\sp{\sn shapeType}{\sv 0}}{\sp{\sn fFlipH}{\sv 0}}{\sp{\sn fFlipV}{\sv 0}}{\sp{
\sn geoRight}{\sv 7260}}{\sp{\sn geoBottom}{\sv 20}}
{\sp{\sn pVerticies}{\sv 8;5;(0,20);(7260,20);(7260,0);(0,0);(0,20)}}
{\sp{\sn pSegmentInfo}{\sv 2;11;16384;45824;1;45824;1;45824;1;45824;1;45824;3276
8}}
{\sp{\sn fFillOK}{\sv 1}}{\sp{\sn fFilled}{\sv 1}}{\sp{\sn fillColor}{\sv 0}}{\s
p{\sn fLine}{\sv 0}}{\sp{\sn lineType}{\sv 0}}{\sp{\sn fArrowheadsOK}{\sv 1}}{\s
p{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}
}}
{\shp {\*\shpinst\shpleft3227\shptop5089\shpright3556\shpbottom5089\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz105\shplid1{\sp{\sn shapeType}{\
sv 20}}{\sp{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}{\sp{\sn line
Width}{\sv 5283}}
}}
{\shp {\*\shpinst\shpleft4147\shptop5089\shpright4490\shpbottom5089\shpfhdr0\shp

bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz105\shplid2{\sp{\sn shapeType}{\
sv 20}}{\sp{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}{\sp{\sn line
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{\shp {\*\shpinst\shpleft3211\shptop9921\shpright3538\shpbottom9921\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz458\shplid3{\sp{\sn shapeType}{\
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{\shp {\*\shpinst\shpleft4142\shptop9921\shpright4476\shpbottom9921\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz458\shplid4{\sp{\sn shapeType}{\
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}}\par\pard\sect\sectd\fs24\paperw12240\paperh15840\pard\sb0\sl-240{\bkmkstart P
g22}{\bkmkend Pg22}\par\pard\ql \li3197\sb0\sl-264\slmult0 \par\pard\ql\li3197\s
b0\sl-264\slmult0 \par\pard\ql\li3197\sb0\sl-264\slmult0 \par\pard\ql\li3197\sb0
\sl-264\slmult0 \par\pard\ql\li3197\sb0\sl-264\slmult0 \par\pard\ql\li3197\sb0\s
l-264\slmult0 \par\pard\ql\li3197\sb0\sl-264\slmult0 \par\pard\ql\li3197\sb0\sl264\slmult0 \par\pard\ql\li3197\sb0\sl-264\slmult0 \par\pard\ql\li3197\sb85\sl-2
64\slmult0 \up0 \expndtw-7\charscalex100 \ul0\nosupersub\cf53\f54\fs22 Forma nel
iniar\u259? are propriet\u259?\u355?ile:\par\pard\sect\sectd\sbknone\cols3\colno
1\colw3569\colsr40\colno2\colw408\colsr160\colno3\colw7933\colsr160\ql \li3237\s
b4\sl-264\slmult0 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf66\f67\fs22 \u
8706? \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf64\f65\fs22 f\par\pard\ql
\li3236\sb55\sl-264\slmult0 \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf66\f
67\fs22 \u8706? \up0 \expndtw-10\charscalex92 \ul0\nosupersub\cf64\f65\fs22 r\ul
0\nosupersub\cf72\f73\fs15 \u351?\par\pard\column \ql \li20\sb147\sl-264\slmult0
\up0 \expndtw-5\charscalex100 \ul0\nosupersub\cf66\f67\fs22 < \up0 \expndtw0\ch
arscalex101 \ul0\nosupersub\cf40\f41\fs22 0\ul0\nosupersub\cf64\f65\fs22 ,\par\p
ard\column \ql \li29\sb4\sl-264\slmult0\tx1146\tx1364 \up0 \expndtw-3\charscalex
100 \ul0\nosupersub\cf66\f67\fs22 \u8706? \up0 \expndtw-3\charscalex100 \ul0\nos
upersub\cf64\f65\fs22 f\tab \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf66\f
67\fs22 \u8706? \tab \up0 \expndtw-3\charscalex100 \ul0\nosupersub\cf64\f65\fs22
f\par\pard\qj \li20\ri6003\sb0\sl-207\slmult0\fi391\tx1603\tx1093 \up0 \expndtw
0\charscalex123 \ul0\nosupersub\cf66\f67\fs22 >\ul0\nosupersub\cf40\f41\fs22 0,\
tab \up0 \expndtw0\charscalex119 \ul0\nosupersub\cf66\f67\fs22 >\ul0\nosupersub\
cf40\f41\fs22 0 \line \up0 \expndtw0\charscalex116 \ul0\nosupersub\cf66\f67\fs22
\u8706?\ul0\nosupersub\cf64\f65\fs22 r \up0 \expndtw-2\charscalex100 \ul0\nosup
ersub\cf72\f73\fs15 q \tab \up0 \expndtw0\charscalex115 \ul0\nosupersub\cf66\f67
\fs22 \u8706?\ul0\nosupersub\cf64\f65\fs22 r \up0 \expndtw-2\charscalex100 \ul0\
nosupersub\cf72\f73\fs15 pa \par\pard\sect\sectd\sbknone \ql \li2520\ri2343\sb23
9\sl-260\slmult0\tx3682 \up0 \expndtw0\charscalex105 \ul0\nosupersub\cf73\f74\fs
22 Observa\u355?ie:\ul0\nosupersub\cf40\f41\fs22 \ul0\nosupersub\cf64\f65\fs22
Dac\u259? anticip\u259?rile sunt apropiate de nivelul real, atunci g este \line\
tab \up0 \expndtw-3\charscalex100 apropiat de 1. \par\pard\qj \li2519\ri2284\sb1
20\sl-260\slmult0\fi678 \up0 \expndtw-4\charscalex100 \ul0\nosupersub\cf40\f41\f
s22 La nceput p\u259?rea convenabil\u259? alegerea politicii economice ca o alter
nativ\u259? \line \up0 \expndtw-5\charscalex100 ntre nivelul infla\u355?iei \u351
?i nivelul \u351?omajului. Guvernul putea alege diverse combina\u355?ii \line \u
p0 \expndtw0\charscalex103 infla\u355?ie-\u351?omaj astfel nct s\u259? duc\u259? l
a bun sfr\u351?it politica economic\u259? dorit\u259?. n \line \up0 \expndtw-6\cha
rscalex100 condi\u355?iile anticip\u259?rii pre\u355?urilor, curba Phillips nu m
ai permite aceast\u259? alegere. \par\pard\qj \li2519\ri2284\sb0\sl-260\slmult0\
fi677 \up0 \expndtw-5\charscalex100 Chiar dac\u259? n primele perioade anticip\u2
59?rile nu vor fi corecte, adic\u259? \ul0\nosupersub\cf64\f65\fs22 r\ul0\sub\cf
72\f73\fs23 pa\ul0\nosupersub\cf64\f65\fs22 < r\ul0\sub\cf72\f73\fs23 p\ul0\nos
upersub\cf40\f41\fs22 , \line \up0 \expndtw-2\charscalex100 teoria a\u351?tept\u
259?rilor ra\u355?ionale arat\u259? faptul c\u259? agen\u355?ii economici nva\u35
5?\u259? din propriile \line \up0 \expndtw0\charscalex100 gre\u351?eli \u351?i,
dup\u259? o anumit\u259? perioad\u259?, anticip\u259?rile vor deveni corecte. Ac

easta va \line \up0 \expndtw-2\charscalex100 conduce la nclinarea tot mai accentu


at\u259? a curbei Phillips, pn\u259? devine vertical\u259?, \line \up0 \expndtw-6
\charscalex100 adic\u259? rata infla\u355?iei nu va mai depinde de rata \u351?om
ajului, ci evolueaz\u259? independent. \par\pard\qj \li2519\ri2283\sb0\sl-260\sl
mult0\fi678 \up0 \expndtw-2\charscalex100 Astfel, n problema infla\u355?iei, dete
rminant\u259? este credibilitatea guvernului, \up0 \expndtw-4\charscalex100 care
, prin m\u259?surile \u351?i anun\u355?urile efectuate, influen\u355?eaz\u259? c
omportamentul agen\u355?ilor \up0 \expndtw-1\charscalex100 economici. Att timp ct
guvernul este credibil, agen\u355?ii economici \u351?i formeaz\u259? \up0 \expndt
w-3\charscalex100 anticip\u259?rile plecnd de la anun\u355?urile acestuia, \u351?
i de aici posibilitatea de a concepe \up0 \expndtw-3\charscalex100 politici de c
re\u351?tere economic\u259? viabile. n schimb, dac\u259? agen\u355?ii economici o
bserv\u259? \up0 \expndtw0\charscalex103 c\u259? ac\u355?iunile guvernului nu co
respund realit\u259?\u355?ii, atunci a\u351?tept\u259?rile acestora se \up0 \exp
ndtw0\charscalex100 adapteaz\u259? realit\u259?\u355?ii, \u351?i nu anun\u355?ur
ilor, \u351?i de aici imposibilitatea guvernului de a \up0 \expndtw-6\charscalex
100 implementa politici credibile de dezvoltare economic\u259?. \par\pard\qj\pvp
g\phpg\posx6346\posy15305\absw325 \expndtw-3\charscalex100\ul0\nosupersub\cf53\f
54\fs22 22
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{\shp {\*\shpinst\shpleft4155\shptop3274\shpright4498\shpbottom3274\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz50\shplid1{\sp{\sn shapeType}{\s
v 20}}{\sp{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}{\sp{\sn lineW
idth}{\sv 5283}}
}}
{\shp {\*\shpinst\shpleft5228\shptop3274\shpright5678\shpbottom3274\shpfhdr0\shp
bxpage\shpbypage\shpwr3\shpwrk0\shpfblwtxt1\shpz94\shplid2{\sp{\sn shapeType}{\s
v 20}}{\sp{\sn fBehindDocument}{\sv 1}}{\sp{\sn lineColor}{\sv 0}}{\sp{\sn lineW
idth}{\sv 5283}}
}}\par\pard\sect\sectd\fs24}

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