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The informal economy, often characterized by unregulated and untaxed economic activities, has significant yet understudied implications for sustainable development and inclusivity. This paper explores the influence of the size of the shadow economy and undeclared work patterns (envelope wage, without a formal contract and bogus self-employed) on the Leave No One Behind Index and the Sustainable Development Index developed by the United Nations across European countries from 2000 to 2021. Employing panel data regression models, the research investigates the differential impacts of informality on these indices, revealing a negative correlation with the informal economy and a positive association with various forms of undeclared work. The analysis, comprising 18 models segmented by region – Central and Eastern Europe, Western Europe, and Europe – demonstrates that the adverse effects of the informal economy are more pronounced, whereas the positive contributions of undeclared work patterns are subtler, yet significant. The study’s findings suggest a complex interaction between informal economic activities and sustainable development goals, challenging the conventional perspective on informality and its role in inclusive development. The results indicate that while the shadow economy may hinder broad development efforts, informal labor arrangements support vulnerable populations, underscoring the need for nuanced policy interventions that recognize the multifaceted nature of work and its impacts on development.

Purpose: This study investigates the role of telemedicine in sustaining healthcare systems in Europe, during the COVID-19 pandemic. It focusses on how telemedicine serves as a strategic response to modern healthcare challenges, emphasising its efficiency, accessibility, and patient-centred nature. Need for the study: The need for this study arises from the escalating demands on healthcare systems, especially during the COVID-19 pandemic. It aims to understand the adoption of telemedicine practices across European Union (EU) countries and their impact on healthcare sustainability. Methodology: This study employs hierarchical and K-Means clustering to analyse EU citizens' attitudes towards teleconsultations during COVID-19. Principal component analysis (PCA) is used for data compression and insight extraction. Data is sourced from Eurofound's 2020 and 2021 surveys, involving extensive participant responses across the EU. Findings: The study's findings reveal significant shifts towards digital healthcare solutions, such as an increase in online consultations and prescriptions. It identifies different patterns of telemedicine use across EU countries, influenced by socioeconomic and geographical factors. These findings offer insights into future healthcare policy and strategy development. Practical implications: The findings provide valuable insights into the shifts in telemedicine adoption in the EU, highlighting the significance of economic and sociological factors in healthcare trends. This study stresses the importance of customising healthcare strategies to suit the unique needs and digital capabilities of different countries. [ABSTRACT FROM AUTHOR]

The informal economy, often characterized by unregulated and untaxed economic activities, has significant yet understudied implications for sustainable development and inclusivity. This paper explores the influence of the size of the shadow economy and undeclared work patterns (envelope wage, without a formal contract and bogus self-employed) on the Leave No One Behind Index and the Sustainable Development Index developed by the United Nations across European countries from 2000 to 2021. Employing panel data regression models, the research investigates the differential impacts of informality on these indices, revealing a negative correlation with the informal economy and a positive association with various forms of undeclared work. The analysis, comprising 18 models segmented by region – Central and Eastern Europe, Western Europe, and Europe – demonstrates that the adverse effects of the informal economy are more pronounced, whereas the positive contributions of undeclared work patterns are subtler, yet significant. The study's findings suggest a complex interaction between informal economic activities and sustainable development goals, challenging the conventional perspective on informality and its role in inclusive development. The results indicate that while the shadow economy may hinder broad development efforts, informal labor arrangements support vulnerable populations, underscoring the need for nuanced policy interventions that recognize the multifaceted nature of work and its impacts on development. [ABSTRACT FROM AUTHOR]

Purpose: Students' transition from education to employment is influenced by factors like the length and calibre of their education, demography, labour market conditions, and the general state of the economy. Regardless of the economy, education systems should seek to ensure that students have the skills required for the labour market. This will help them better transition from school to work. This study examines the work skills that companies require for entry-level positions in Romania. Need for Study: Previously, text analysis studies treated the job market only for the IT industry in Romania. To understand the demand-side opportunities and restrictions, assessing the employment opportunities for young people in the Romanian labour market is necessary. Methodology: A text mining approach from 842 unstructured data of the existing job positions in October 2022 for fresh graduates or students is used in this chapter. The study uses data from LinkedIn job descriptions in the Romanian job market. The methodology involved is focused on text retrieval, text-pre-processing, word cloud analysis, network analysis, and topic modelling. Findings: The empirical findings revealed that the most common words in job descriptions are experience, team, work, skills, development, knowledge, support, data, business, and software. The correlation network revealed that the most correlated pairs of words are gender–sexual–race–religion–origin–diversity–age–identity–orientation–colour–equal–marital. Practical Implications: This study looked at the job market and used text analytics to extract a space of skill and qualification dimensions from job announcements relevant to the Romanian employment market instead of depending on subjective knowledge. [ABSTRACT FROM AUTHOR]

In recent years, the issue of income inequality has ascended to the forefront of national and international agendas, underscored by the urgency to navigate the complexities of market-driven economies without exacerbating social disparities. These challenges are particularly pronounced in the post-communist nations of Central and Eastern Europe, where the transition legacy and the marketization forces present unique dynamics in the evolution of income disparities. This research investigates the intricate mechanisms through which marketization impacts income inequality within the Central and Eastern European countries context, aiming to uncover how economic transformations influenced by global sustainability goals can contribute to narrowing the income gap. By employing panel data estimation techniques and Generalized Method of Moments (GMM) analysis, this study highlights the enduring nature of income disparities and the critical roles played by economic growth, education investment, labor market reforms, globalization, and governance quality in shaping equitable income distributions. Findings reveal that, despite the competitive nature of market economies potentially creating disparities, strategic policy interventions in education, economic policy, and labor market regulations can mitigate the adverse effects of marketization on income inequality. Additionally, this research emphasizes the importance of strong institutional frameworks and the nuanced role of the informal economy in influencing income distribution dynamics. [ABSTRACT FROM AUTHOR]

This study challenges the traditional reliance on GDP as the sole indicator of the success of the EU's cohesion policy, aligning with the evolving academic discourse that calls for a broader spectrum of metrics incorporating social factors. The research aims to assess the impact of cohesion on economic performance and social progress at the regional level in Central and Eastern European countries, using regression analysis on panel data. Inspired by the call to move beyond GDP-focused assessments, this research re-evaluates cohesion policy within an expanded framework that prioritizes economic and social dimensions. Specifically, it addresses the escalating concerns of income disparity and poverty in Central and Eastern European nations. Utilizing panel data regression models, this study scrutinizes data from 2007 to 2018, covering two recent programming periods, to offer a comprehensive, multifaceted analysis of the impact of cohesion policy. It underscores the policy's dual role in spurring economic growth and fostering social progress, particularly in mitigating income inequality and reducing poverty. The findings reveal that cohesion policies positively affect both economic performance and social progress, with notable impacts on narrowing the income gap and alleviating poverty in these regions. However, the economic benefits for poverty reduction materialize over a prolonged period, reflecting the gradual nature of policy impact and the time needed for investments to materialize. The study emphasizes the need for a long-term strategic vision in implementing cohesion policies. This includes enhanced data collection, a deeper focus on the social ramifications of policies, streamlined policy processes, capacity building, institutional strengthening, and prioritizing equitable opportunities to bridge income gaps effectively. This comprehensive approach aims to maximize the dual benefits of cohesion policies, promoting balanced economic and social progress across Central and Eastern Europe. [ABSTRACT FROM AUTHOR]

This study analysed the relationship between informality and sustainable development goals using the bibliometric analysis. The empirical results emphasized that urban development, women's agenda, and decent work are the main areas of informality circumscribed in the issue of sustainable development, guiding the priorities in research and for decision makers by conclusive and relevant information. [ABSTRACT FROM AUTHOR]

Biopharmaceutical companies are critical in developing vaccines, treatments, and diagnostics for COVID-19. Thus, understanding the contagion effects of their stock market can have important economic implications, especially in the context of global financial markets. Due to the COVID-19 pandemic, biopharmaceutical companies' stock markets may have experienced sudden volatility and risk changes, which may have had spillover effects on other sectors and markets. Policymakers can take pre-emptive measures to stabilize financial markets. Analyzing the contagion effects makes it even more relevant to analyze the stock market response of four leading pharmaceutical companies that either developed vaccines against COVID-19 or drugs that help to fight the virus, namely, Pfizer, AbbVie Inc., Sanofi, and Bristol Myers Squibb. The analysis considers two periods, before and during the COVID-19 crisis, and considers the influence of the market volatility and technological market index. In order to capture the contagion effects, DCC-GARCH models have been applied, which estimate time-varying correlation coefficients using a multivariate GARCH framework, allowing for the modeling of time-varying volatility and correlations in financial returns. The results reveal the impact of market volatility on the returns of all four pharmaceutical companies. Additionally, a contagion effect between all four companies, the technological market, and market volatility was observed during the COVID-19 period. [ABSTRACT FROM AUTHOR]

The paper aims to analyze the contagion effect coming from the developed stock markets of the US and Germany to the emerging CEE stock markets of Romania, Czech Republic, Hungary, and Poland using daily data for the period April 2005–April 2021. The paper also captures the level of integration of these emerging stock markets by analyzing the volatility spillover phenomenon. The quantification of the contagion effect coming from the developed to the emerging stock markets consisted of an empirical analysis based on the DCC-GARCH (Dynamic Conditional Correlation) model. Through this multivariate model, the time-varying conditional correlations were analyzed, both in periods of normal economic development and in times of economic instability, when there was a significant increase in the correlation coefficients between developed and emerging stock market indices. Furthermore, the level of connectedness between these markets has been analyzed using the volatility spillover index developed by Diebold and Yilmaz. The empirical results surprised the high level of integration of the analyzed stock markets in Central and Eastern Europe, with the intensity of volatility transmission between these markets increasing significantly during times of crisis. All stock market indices analyzed show periods during which they transmit net volatility and periods during which they receive net volatility, indicating a bidirectional volatility spillover phenomenon. Mostly, the BET, PX, and WIG indices are net transmitters of volatilities, whereas the BUX index is net recipient, except during the COVID-19 crisis, when it transmitted net volatility to the other three indices. Finally, using a Markov switching-regime VAR approach with two regimes, we explored the contagion effect between emerging CEE and developed stock markets during the COVID-19 pandemic. The empirical results proved a shift around the outbreak of the health crisis, after which the high volatility regime dominates the CEE markets. The contagion effects from developed stock markets to emerging CEE markets significantly increased during the first stage of the health crisis. [ABSTRACT FROM AUTHOR]

When people who adhere to tax morality act in a situation where there is no sense of risk, no acceptance of the government, or no environment conducive to tax compliance, it is easier to see how they are motivated to do so. Tax morality is also known as the ethics of compliance. It is the independent cause that motivates a positive tax behaviour. Employees' religious beliefs may impact their ideas and actions in organizational life, just as individuals' attitudes, values, emotions, abilities, and behaviours influence their thoughts and actions at work. Religion can positively influence a worker's loyalty, morale, and communication. In this context, the research seeks to determine whether religiosity and religion may have an effect on tax morale, examining whether an individual's religiosity reduces tax evasion and increases the degree of tax morale. Using machine learning variable selection techniques appropriate for categorical variables, we have used the dataset of the Joint EVS/WVS 2017-2020 (European Value Survey/World Value Survey), allowing for comparisons of tax morality in more than 79 nations globally (chi-squared and mutual information). The empirical findings showed that the most important aspects of religiosity, such as religious denomination, belief in God, and the significance of God, along with the degree of trust placed in other religions and churches, have a considerable positive impact on the level of tax morale. Another significant conclusion relates to how much people feel the government is responsible, how much they care about their nation, and how satisfied they are with the political system—findings that have been shown to boost employee morale. The following are a person's primary traits that indicate their financial morale: an adult above the age of 25, a full-time worker or retired person, married, and living alone. Therefore, employees that are morally upright, trustworthy, diligent, and committed to the workplace values of justice and decency raise morale generally and improve an organisation's success. A business may enhance its reputation and help to secure its long-term success by establishing behavioural policies. [ABSTRACT FROM AUTHOR]

Education is one of the most important drivers for development and wellbeing both at the level of the society and at an individual level. Recognising the key role of education for social development, economic growth and individual wellbeing, education expansion has become an important objective for educational systems across the world. Education influences distribution of economic outcomes, making people pursue more education in order to obtain higher rewards. While expansion of education accelerates, new theories treat education as a positional good. From this perspective, due to its positional character, returns to education are affected in situations of skills imbalances characterised by a supply of graduates that surpasses the demand of the labour market. This paper employs this new perspective and explores the influence of education on economic outcomes in Romania. The authors present and discuss the use of traditional and new quantitative methods in order to shed light on the positional character of education. Our findings show that, in the case of Romania, the expansion of education did not reach the point at which education can be considered a positional good. The application of such methods is useful to inform a data-driven governance system targeting a better match between the supply and demand for education and skills. [ABSTRACT FROM AUTHOR]

The paper focuses on the trade performance of Romania, a representative country for the Central and Eastern European region, strongly connected with its European partners in global value chains and thus affected by any change in these countries' relationships with the rest of the world in general and China in particular. Using panel data gravity models for the 2008-2019 period, we find that Romania's exports are significantly influenced by the demand of its major trade partners in the EU, and imports from China and the rest of the world. In addition, exports are vulnerable to the effectiveness of the government in relation to the other countries, corruption control and cultural values such as collectivism. We also assess the capacity of Romanian exports to regain their ascending trend displayed before the COVID-19 pandemic by using simulation forecasting scenarios based on the shape of the economic recovery and the type of shock transmission across economies. We observe a sharp decrease in 2020 followed by an important recovery in 2021 in a V-shape scenario and uniform transmission of the pandemic shock in the internal demand and in the foreign trade, or followed by a very slow recovery in 2021 (in a U-shape scenario and non-uniform transmission type in the two previously mentioned elements), especially when the global relation with rest of the world is included. [ABSTRACT FROM AUTHOR]

The paper aims to estimate the size of shadow economy (SE) and tax evasion (TE) in Romania for the period 2000–2017. We apply different approaches – Multiple Indicator Multiple Cause (MIMIC) model for the estimation of the size of the SE and the currency demand approach for the estimation of TE – in order to lay emphasis on peculiarities of these two phenomena. Empirical analysis reveals that SE acts as a substitute to formal economy while tax evasion is complement to GDP. Policy implications are that, given the different causes behind these two phenomena, the importance and consequences of SE and TE change over business cycle and they require different policy measures. [ABSTRACT FROM AUTHOR]

The paper aims to investigate if the activity sector matters in explaining and analysing the job satisfaction, its determinants and also the satisfaction related to the performance evaluation process using an empirical research based on gender differences for a sample of 301 employees from seven sectors of activity. The paper aims to respond to the following key research questions: there are statistical differences concerning the job satisfaction and also the perceptions regarding the performance evaluation process in different sectors of activity with certain specificities?. In order to respond to these questions, descriptive statistics, non-parametric correlation and non-parametric tests (Kruskal-Wallis) were used. The empirical results revealed that employees from services, manufacturing industry and agriculture exhibited the highest level of job satisfaction while constructions represents the sector with the lowest level. The analysis of motivational factors revealed that workplace comfort and job stability are considered to be the most important motivating factors in all sectors of activity, while the perspective of hierarchical advancement and logistical support the least motivating. The results of Kruskal-Wallis test pointed out statistical differences among sectors of activity regarding the job satisfaction level and the attractiveness of work done. Concerning the level of satisfaction related to the last employee evaluations, retail trade and manufacturing industry are the sector with the highest degree of satisfaction while services and wholesale trade registered lower levels of satisfaction. As methods used in the evaluation, the analysis based on the superiors' opinion was used in all sectors with the exception of agriculture characterized by the presence of informal free talks. The empirical results highlighted significant differences in different sectors of activity regarding the elements taken into consideration in the employee performance evaluation process: productivity, initiative/innovation, quality of communication, relationships with subordinates, superiors and customers and professional development. [ABSTRACT FROM AUTHOR]

The paper aims to evaluate the level of overall motivation among Romanian employees from different types of companies and different sectors of activity and to enhance the main motivational factors from the perspective of Vroom's expectancy theory testing the assumptions that each of the five components-expectancy, extrinsic instrumentality, intrinsic instrumentality, extrinsic valence and intrinsic valence has a direct impact on employee motivation and revealing the differences among employees concerning the motivation level and its drivers. In order to do that, national representative sample of 301 Romanian employees has been used applying the regression analysis and Kruskal-Wallis and Mann-Whitney non-parametric tests in order to highlight the empirical results. The results show that from all five components, three of them best explain the process of motivating employees- intrinsic valence, expectancy and extrinsic instrumentality. Significant differences have been found regarding the main motivational factors by regions of development, company size, activity sector, salary and professional status. [ABSTRACT FROM AUTHOR]

The field of eco-innovation is included in the area of sustainable development being closely related with ecological planning. In this context, this paper aims to evaluate Romanian eco-innovation performance during the period 2003-2013 by constructing a composite index and to also identify the main eco-innovation poles at the European level using multidimensional analysis techniques based on the eco-innovation specific indicators for the year 2013. This approach used the methodology of constructing composite indices proposed by Organization for Economic Co-operation and Development (OECD) in 2008. The index measured the eco-innovation dimensions in 27 countries over the period 2003-2013. The empirical analysis revealed the conclusion that in Romania, the eco-innovation level is low compared with other countries, thus Romania cannot emphasize its eco-innovation performance. The empirical results of the study highlighted that eco-innovation represents a phenomenon leading to significant progress in achieving the objective of sustainable development in Romania, and also at the European level, only if the importance of this area is awarded and eco-innovation measures are enforced through adequate policies, leading to economic growth. [ABSTRACT FROM AUTHOR]

The paper aims to analyze the unidirectional relationship from active ageing phenomena to the size of the Romanian shadow economy in order to see if the unofficial sector represents a social buffer for older workers who have lower labor market opportunities. In order to do that, we applied two important causality analyses, Granger and Toda-Yamamoto, based on quarterly data over the period 2000-2010. The size of the Romanian shadow economy was previously estimated using a revised version of the currency demand approach based on autoregressive distributed lag (ARDL) approach. For active ageing, the employment rate for older workers was used as proxy. The cointegration empirical results highlight the existence of a positive long-run relationship between employment rate of elderly and unofficial sector. The empirical causality results conclude that there is a unidirectional Granger causality that runs from employment rate of older workers to shadow economy both on long-run and short-run. The empirical results of Toda-Yamamoto revealed the absence of a short-run causal relationship from employment rate for older workers to the size of shadow economy. One possible explanation for the existence of a positive relationship that runs from employment rate of elderly to unofficial sector can be the low capacity of the economy to generate proper jobs, so this age group of older workers does not have qualifications that meet the needs of formal economy, and therefore shadow economy becomes an alternative to formal work and it may provide a buffer for some workers who have few alternative labor market opportunities. Another alternative could be the fact that this age group of elderly remains occupied in the formal lab our market, but with low earnings and they work in informal activities in order to supplement their income. [ABSTRACT FROM AUTHOR]

The aim of the paper is to investigate the relationship between official employment, official unemployment and unofficial employment in Romania for the period 2000-2014, using LFS survey data. This type of method quantifies the persons working in unofficial economy, but is not able to capture those who are employed in both sectors (formal and informal).The empirical results reveal the existence of a negative relationship between activity rates and the estimated value of unofficial employment. Correlation coefficients for the period 2000-2014 highlighted the presence of a negative relationship between official employment and unofficial employment, respectively official unemployment and unofficial employment. Using this method who has its limitations, the Romanian unofficial employment is most probably underestimated. [ABSTRACT FROM AUTHOR]

The paper aims to investigate the nature of the relationship between the shadow economy (SE) and recorded GDP for the case of Romania using Pesaran et al.(2001) bounds tests approach for cointegration for the period 2000-2010. The size of Romanian shadow economy is estimated using a revised version of the currency demand approach based on autoregressive distributed lag (ARDL) approach to cointegration analysis. To investigate the long-run causal linkages and short-run dynamics between shadow economy and recorded GDP, ARDL cointegration approach is applied. The ARDL causality results revealed only the existence of a long-run unidirectional causality that runs from shadow economy official economy, revealing a negative relationship betwwen them on long-run. In addition, the CUSUM and CUSUMSQ tests confirm the stability of causal relationships. [ABSTRACT FROM AUTHOR]

Official economic situation plays a crucial role in people's decision to work or not in the informal sector. In a booming official economy, people have a lot of opportunities to earn a good salary and even extra money. This is not the case of an economy in recession, when people try to compensate the loss of income from formal economy through involvement in the informal economy. The paper aims to evaluate the relationship between official economy and shadow economy for the case of Romania using quarterly data covering the period 20000Q1-2013Q4.In order to do that, a structural vector autoregressive approach(SVAR) was used. The relationship between the two variables is tested by imposing a long-run restriction in the Structural VAR model to analyze the effect in the size of Romanian shadow economy to a temporary shock in real GDP. The impulse response function generated by the Structural VAR confirms that in the short-run, a rise in the official economy will lead to a decrease in the size of the shadow economy. [ABSTRACT FROM AUTHOR]

The paper analyses the relationship between shadow economy and unemployment rates using a Structural VAR approach for quarterly data during the period 2000-2010. The size of Romanian shadow economy is estimated using the currency demand approach based on VECM models, stating that its size is decreasing over the analyzed period, from 36.5% at the end of 2000 to about 31.5% of real GDP at the middle of 2010. The relationship between the variables is tested by imposing a long-run restriction in the Structural VAR model to analyze the impact of the shadow economy to a temporary shock in unemployment. The accumulated responses generated by a positive supply shock (unemployment rate) confirms that in the short-run, a rise in both registered and ILO unemployment rates in formal sector will lead to a decrease in the number of people who work in the shadow economy in the second quarter following the initial shock and to an smaller increase in the size of the Romanian shadow economy in the third quarter following the initial shock. [ABSTRACT FROM AUTHOR]

The paper aims to analyze the Romanian insurance market in 2011 from the perspective of gross written premiums on non-life insurance classes, using principal component analysis technique (PCA) and cluster analysis in order to classify the 30 insurance companies by the most important components obtained by PCA.The empirical results showed that aircraft liability insurance, accident and sickness insurance, liability insurance for ships, insurance of legal expenses and the general liability insurance and surety ship insurance explain best the evolution of the insurance market. Grouping companies after the first two principal components, aircraft liability insurance, accident and sickness insurance, which recovers about 53% of the total variance of the original variables, can highlight three classes of companies: Astra, Allianz-Tiriac and Omniasig. The cluster analysis indicates the existence of four classes of companies: City Insurance, Astra, Groupama Insurances and the rest. [ABSTRACT FROM AUTHOR]

During the health crisis, it is vital to protect not only the critical sectors of the economy, the assets, technology, and infrastructure, but first and foremost, it is fundamental to protect jobs and workers. The current COVID-19 pandemic has had a strong impact on the labor market from three main perspectives: number of jobs (through unemployment and underemployment), quality of work (through wages, or access to social protection), and through the effects on specific groups, with a higher degree of vulnerability to unfavorable labor market outcomes. The measures aiming to reduce economic activity and social contacts lead to a reduction of labor demand and implicitly to the increase of the unemployment rate. In this context, it becomes even more relevant to be able to monitor the unemployment rate, providing relevant forecasts that include the effects of market shocks. Thus, our paper aims to forecast the unemployment rate for the period 2020–2023 using the Box-Jenkins methodology based on ARIMA models, exploring also the uncertainty based on fan charts. Although the baseline forecast offers valuable information, a good understanding of risks and uncertainties related to this forecast is equally important. The empirical results highlighted an ascending trend for unemployment rate during 2020, followed by a slow and continuous decrease until the end of 2023 with a high probability for the forecast to be above the central projection. [ABSTRACT FROM AUTHOR]

Unemployment has risen as the economy has shrunk. The coronavirus crisis has affected many sectors in Romania, some companies diminishing or even ceasing their activity. Making forecasts of the unemployment rate has a fundamental impact and importance on future social policy strategies. The aim of the paper is to comparatively analyze the forecast performances of different univariate time series methods with the purpose of providing future predictions of unemployment rate. In order to do that, several forecasting models (seasonal model autoregressive integrated moving average (SARIMA), self-exciting threshold autoregressive (SETAR), Holt–Winters, ETS (error, trend, seasonal), and NNAR (neural network autoregression)) have been applied, and their forecast performances have been evaluated on both the in-sample data covering the period January 2000–December 2017 used for the model identification and estimation and the out-of-sample data covering the last three years, 2018–2020. The forecast of unemployment rate relies on the next two years, 2021–2022. Based on the in-sample forecast assessment of different methods, the forecast measures root mean squared error (RMSE), mean absolute error (MAE), and mean absolute percent error (MAPE) suggested that the multiplicative Holt–Winters model outperforms the other models. For the out-of-sample forecasting performance of models, RMSE and MAE values revealed that the NNAR model has better forecasting performance, while according to MAPE, the SARIMA model registers higher forecast accuracy. The empirical results of the Diebold–Mariano test at one forecast horizon for out-of-sample methods revealed differences in the forecasting performance between SARIMA and NNAR, of which the best model of modeling and forecasting unemployment rate was considered to be the NNAR model. [ABSTRACT FROM AUTHOR]

Medicinal oxygen plays an important role in healthcare, being essential for the existence and maintenance of the health of millions of people, who depend on medicinal oxygen every day, both in hospitals and at home. Medicinal oxygen is the primary treatment administrated to the majority of patients suffering from respiratory problems and low levels of oxygen in the blood, and in the context of the actual health crisis caused by the new COVID-19, the challenge is represented by increasing the supply of medicinal oxygen while reducing cost so that it is accessible where it is needed most, free at the point of use. It will take increased investment and commitment to put oxygen at the center of strategies for universal health coverage. In this context, it becomes essential to investigate the main characteristics of the Romanian market of medicinal oxygen, highlighting top key players, market development, key driving factors, types of products, market perspectives as well as shedding light on the segmentation of this particular market based on considerations regarding regions, hospital competence class and hospital specialization. Also, the research aims to explore the regional disparities in the decision of using O93%medicinal oxygen, revealing the main factors related to the usage of this type of product among Romanian public hospitals. The research relies on the first quantitative survey regarding medicinal oxygen usage among 121 public hospital units from a total of 461 public hospitals in 2018, which meet the specific requirements: includes the entire population according to the list published on the website of the Ministry of Health, is the most recent data and does not show repetition. The sampling was of probabilistic stage-type stratification, with the following sampling layers: hospital county distribution, hospital competence class officially assigned by the Ministry of Health and also area of residence (urban/rural). In order to analyze the main characteristics of the Romanian oxygen market, the following methods have been used: analysis of variance (ANOVA) together with Kruskal–Wallis, Pearson correlation coefficient as well as Goodman and Kruskal gamma, Kendall's tau-b and Cramer's V, as well as multilevel logistic regression analysis using hierarchical data (hospitals grouped in regions). The Romanian market of medicinal oxygen is rather an oligopoly market characterized by the existence of a small number of producers and two types of products currently used for the same medical purpose and having a substitutable character: medicinal oxygen O99.5%, and medicinal oxygen O93%. An overwhelming proportion of public hospitals agree that both types of medicinal oxygen serve the same therapeutic purpose. The Romanian market of medicinal oxygen highlighted a significant segmentation on considerations based on regions, hospital competence class and hospital specialization. Regarding the main perspectives, the Romanian market of medical oxygen keeps the growth trend registered globally, with development perspectives for competitors. Exploring the regional disparities in the decision of using O93 medicinal oxygen, the empirical results acknowledged the important role of unitary price, hospital capacity and the relevance of this product seen as a medicine. Medicinal oxygen is vital in sustaining life, proving its utility mainly in the context of the actual health crisis. In this context, the Romanian local market exhibits prospects for further development, being characterized by an important segmentation depending on regions, hospital competence class and hospital specialization. [ABSTRACT FROM AUTHOR]

Urbanization and climate change are requiring cities to find novel pathways to a sustainable future, and therefore the urban context may accelerate the conversion to a circular economy. In this sense, climate change is a considerable threat to the environment, affecting both human and natural systems, and in this context individuals have a very important role. Therefore, the paper aims to investigate, on the one hand, what determines people to undertake specific actions in fighting climate change and, on the other hand, what determines some people to engage in adopting multiple actions exhibiting extra mitigation behaviour compared to others, paving the way to an urban circular economy. In order to do that, multilevel logistic regression analysis using hierarchical data (individuals grouped in counties), reflecting group variability and group-level characteristics effects on outcomes at individual level has been applied. Special attention was given to modernisation thesis validation, stipulating that citizens from more developed and modernized countries are expected to manifest a higher level of extra mitigation compared to inhabitants of less-modernized nations. The empirical results revealed the positive association of pro-environmental factors, socio-demographic and economic factors with both specific and extra mitigation behaviour in fighting climate change. An important finding of the empirical research highlighted the validation of the modernisation thesis, even if partially, and the reinforcement of the modernisation thesis impact on the extra mitigation behaviour determined by the urban area segmentation. The extra commitment behaviour reflected by citizens' multiple actions in fighting climate change ensures progress to a circular economy through its contribution to waste reduction, eco-shopping increase, on eco-friendly transportation increase or domestic energy reduction. We believe that a shift in citizens' attitude towards climate change is needed, taking into account that a lot must be done" to effectively respond to climate change, paving the way for the circular economy. [ABSTRACT FROM AUTHOR]

In light of future work challenges, actual human resource management (HRM) needs to be redesigned, including long-term development, regeneration, and renewal of human resources, passing from consuming to developing human resources by incorporating the concept of sustainability. Thus, sustainable HRM is seen as an extension of strategic human resources, presenting a new approach to human resource management. The labor market is constantly changing, atypical work acquiring a significant relevance, especially in these current times of coronavirus crisis restrictions. In Romania, promoting the law of teleworking transformed labor flexibility into a topic of interest, and became an increasingly vital requirement for employment and a motivating factor for Romanian employees. In such a context, this paper aims to investigate the link between employee development and worktime and workspace flexibility as relevant characteristics of sustainable HRM, job satisfaction and job performance among Romanian employees in order to identify how to redesign HRM in the face of "future work" challenges. Additionally, the paper aims to examine the impact of different types of flexibility—contractual, functional, working time, and workspace flexibility—in order to highlight the relevance of employee development and employee flexibility as important aspects of sustainable HRM in increasing the overall level of employee job satisfaction. In order to make this possible, an "employee flexibility composite indicator," which takes into account different types of flexibility, has been developed using feedback from Romanian employees, which was gathered by a national representative survey using multiple correspondence analysis. Furthermore, the impact of both individual and employee flexibility on overall level of job satisfaction has been quantified using binary logistic regression models. Within the research, there is a particular focus on the impact of new types of workspaces (flex office, co-working, total home office, partial home office—FO, CW, HOT, HOP) on job performance, job satisfaction, organizational performance, professional growth and development, social and professional relationships, and personal professional performance as well as on the overall level of work motivation. The empirical results revealed that these new types of workspaces are highly appreciated by employees, generating a growing interest among them. Partial home working, the mix between working from home and working in a company's office, has been considered an optimal solution in increasing organizational performance, social and professional relationships, learning and personal development, and the overall level of work motivation. The results of the multiple correspondence analysis highlighted a medium level of flexibility among those Romanian employees interviewed, with only one third of them exhibiting high levels of flexibility. The empirical analysis of logistic regression analysis pointed out the role of functional flexibility, working time, and workspace flexibility along with the flexibility composite indicator in increasing the level of job satisfaction in employees. Therefore, if the challenge is to redesign the actual human resource management in order to include the concept of sustainability, attention needs to be on a combination of employee development-flexible time and flexible places, leading to an increase in both employee job satisfaction and organizational performance as important outcomes of sustainable HRM. [ABSTRACT FROM AUTHOR]

Currently, at the end of the programming period 2014–2020 and in the view of the new programming exercise, 2021–2027, knowing where South-Muntenia is positioned on the path to sustainable regional development and how the main determinants can be integrated in regional development policies in order to continuously support the development of the Romanian regions becomes even more important. In this context, the paper aims to evaluate the progress made by the South-Muntenia region towards sustainable regional development for the period 2010–2017 highlighting the main implications for regional development strategies and revealing local initiatives promoting broader sustainable regional development. Thus, more in depth, the paper aims to identify the main determinants of sustainable regional development at the level of South-Muntenia counties using multiple principal component analysis (MPCA), to build an advancement sustainable development index based on panel data for the period 2010–2017 and to reveal the main sustainable development poles at the county level for the year 2017 using hierarchical clustering technique. The empirical results revealed the importance of business environment, public services infrastructure, education, and social protection as main determinants of South-Muntenia sustainable regional development. The advancement composite index pointed out that South-Muntenia recorded a slow but continuous advancement in terms of sustainable regional development, almost doubling its performance in these seven years. At the county level, if Prahova, Argeș, and Dâmbovița exhibited a so-called stagnation, Ialomița and Teleorman were still behind, registering an advancement over the period but remained only halfway on the path to sustainable development, while Calarasi and Giurgiu tried to recover the huge gap, registering very low rates of sustainable development index. On the path to regional economic development, the relevance of two main sustainable regional development drivers can be highlighted—a better allocation for active measures with the reduction of unemployment as a target together with a better infrastructure of public services. National, regional, and local administrations play an important role in promoting sustainability in the economic, social, and environmental activities, in a coherent manner. Regardless of the level at which development policies are designed, local, county, or regional, they must take into account and monitor the sustainable development determinants if the ultimate goal is the overall regional development of South-Muntenia. [ABSTRACT FROM AUTHOR]