Abstract: In the thirty years since the end of real socialism, Bulgaria has gone from having a rather radically ‘different’ tax system to adopting flat-rate taxation with marginal tax rates falling from figures as high as 40% to 10% for both the corporate and personal income tax. Crucially, the econometric forecasting models in use at the Bulgarian Ministry of Finance hinted at an increase in tax revenue compatible with the so-called ‘Laffer curve’. Similarly, many economists held the view that revenues should increase. However, reality fell short of those expectations based on forecasting models and rooted in mainstream economic theory. Thus, this paper asks whether there are better-performing forecasting models for personal and corporate income tax revenues in Bulgaria that are readily implementable and overperform the ones currently in use. After articulating a constructive critique of the current forecasting models, the paper offers readily implementable, transparent alternatives and proves their superiority.

Abstract: The COVID-19 pandemic has impacted economies worldwide, and it has been reflected in their stock markets, as well. The effect was evident in the Indian stock markets, yet the nature and level of this impact are not very clear. This paper examines the short- and long-term spillover in the volatility between coronavirus cases on the broader market index, Nifty 50, and the indices of selected sectors: information technology, healthcare, and pharmaceuticals. Data for the period from January 2020 to July 2022 has been analyzed. The Dynamic Conditional Correlation GARCH model was used for analyzing the volatility spillover of coronavirus cases on Nifty 50, Nifty IT, Nifty Healthcare, and Nifty Pharma. The results show that there has been a significant long-term volatility spillover of infections on the broader market index, Nifty 50. However, there is no long-term persistence of COVID-19 on the sectoral indices. Only Pharma and Healthcare have exhibited significant short-term persistence. All the indices were negatively correlated with case numbers. Even though the sectoral indices did not exhibit significant long-term volatility spillover, they were positively correlated with the broader market index, Nifty 50, which in turn showed the significant long-term persistence of COVID-19. The results of the study are useful to policymakers and investors to understand the level of market impact due to the pandemic.

Abstract. Edward P. Lazear (1948-2020) is one of the most influential economists in the field of applied Labour Economics in modern time. He founded Personnel Economics, which applies an economic approach to Human Resources. His work linked traditional Labour Economics with the empirical analysis of behaviour in organizations (mostly private enterprises) and labour markets. He revolutionized thinking about Human Resources and integrated this field into economic analysis. His views stand in the tradition of the Chicago School of Economics. Besides his scientific work, Lazear was an influential political adviser. In this survey, we provide a short overview of some of his pathbreaking contributions. These include mandatory retirement, rank-order tournaments, incentive structures, and compensation schemes.

Abstract: Agriculture has a major role to serve in the food security of any country. The modernization and upgrading of agriculture are essential to make it a sustainable and competitive sector. The use of technological innovation in agriculture is one way of achieving this goal. The objective of this research is to identify technological innovations in agriculture that have a positive impact on food security. A literature review on technological innovation and food security was conducted, and the results of a study conducted on the topic are analyzed here. Data from agricultural reports of the Ministry of Agriculture and the National Institute of Statistics have been used. The hypothesis of the research is that the use of technological innovations in agriculture increases food security.

Abstract: The author’s primary goal is to present a number of features related to air transport – implemented by low-cost airlines and on the basis of an analysis of the current state of passenger air travel – and to outline some prospects for the development of aviation as a whole. To achieve such an objective, the advantages and deficiencies accompanying the transportation of passengers by low-cost airlines have been systematized. In accordance with these theoretical considerations, an analysis has been made of the current dimensions of this market segment’s development, based on the indicators that globally account for the market share of low-cost airlines in certain regions around the world, including Europe, as well as for the annual growth in demand for passenger air transport on a global level. On a national level, Sofia, Varna, and Burgas airports’ number of passenger movements have been monitored on a yearly basis, while the resort airports have monthly reports. In her conclusions, the author discovers a few prospects for development in air travel which are mainly associated with the symbiosis between transport alternatives and ecological transport solutions.

In 2022, the publishing house of the Bulgarian Academy of Sciences "Marin Drinov" delighted the readers with the new book by Vasil Tsanov, Georgi Shopov and Yordan Hristoskov "Minimum Income of the Population - Development, Ratios, Policies". The structure of the monograph includes an introduction, five chapters, a conclusion, two appendices, a list of abbreviations used, and lists of tables and figures.
The introduction argues in detail the relevance of the problem-ethics under study. The authors' understanding of minimum incomes is presented. They define them as 'cash incomes with minimum amounts guaranteed by the state; having distinctly social functions and provided on a targeted basis through the social protection system under social insurance or social assistance; determining the lower limit of wages; having a regular character and not being one-off or episodic; the state directly determines the objectives, the conditions of access, the mechanisms of formation and the levels of the respective incomes and manages the access and provision of these protected incomes'.