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  • Dimitar M. Ivanov
    MACROECONOMIC CHALLENGES AND RISKS POSED BY THE GLOBAL CORONAVIRUS CRISIS
    JEL: E0, E6, E66, F4, F45, F6
    Keywords: economic crisis, macroeconomics, macroeconomic policies and challenges, sovereign debt, Euro Area, European Union, IMF, globalisation, Bulgaria.
    Summary: The article presents an analysis of the current global eco¬nomic crisis caused by the coronavirus pandemic in 2020. The author’s objecttives were to define and discuss the characteristics of the current crisis and its external causes as well as the macroeconomic, financial, institutional and social imbalances in the period after the global financial crisis of 2008 that led to its outbreak. Using this analysis, the author is identifying some longer-term macroeconomic challenges and risks that would deepen and prolong the current crisis as on a global scale as well as in the economies of Europe and Bulgaria. The main thesis to which the author adheres is that although the contemporary crises that occurred in 1929, during the 70s, and in 2008 had typical common characteristics and provided us with valuable lessons to be learnt, each of those crises had its own character and features. Based on this thesis, the article draws attention to the essential critical problems of the global economy in addition to those caused by the coronavirus shock.
  • Shteryo Nozharov
    HYBRID THREATS AS AN EXOGENOUS ECONOMIC SHOCK
    JEL: H56, F52, E66, P47, C12
    Keywords: hybrid threats, business cycle, economic growth, hybrid wars
    Summary: The aim of this study is to contribute to the theory of exogenous economic shocks and their equivalents in an attempt to explain business cycle fluctuations, which still do not have a clear explanation. To this end the author has developed an econometric model based on a regression analysis. Another objective is to tackle the issue of hybrid threats, which have not yet been subjected to a cross-disciplinary research. These were reviewed in terms of their economic characteristics in order to complement research in the fields of defence and security.