natgillin/translations-raw huggingface dataset:
It is necessary, within the public pension system (the so-called intergenerational solidarity pillar) as well, to explore the possibilities of keeping elderly people who are still able to work in activity.
Potrebno je i u javnom mirovinskom sustavu (prvi stup međugeneracijske solidarnosti) stalno istraživati mogućnosti zadržavanja još uvijek radno sposobnih starijih ljudi u svijetu rada.
This should improve the future position of pensioners and reduce (or at least stop the growth of) the financial burden on employees.
Time bi se trebao poboljšati budući položaj umirovljenika i smanjiti (ili barem ne povećavati) financijski teret koji snose zaposleni.
It is also necessary to break false beliefs that employing the elderly would reduce opportunities for the employment of young persons.
Ujedno je potrebno razbijati kriva vjerovanja kako će se zapošljavanjem starijih smanjiti prostor za zapošljavanje mlađih osoba.
The number of vacancies in the economy is not unchangeable or fixed, but it depends on a number of factors, primarily on the price of labour.
Broj radnih mjesta u gospodarstvu nije ni nepromjenjiv, ni fiksan, već ovisi o mnoštvu čimbenika, a u najvećoj mjeri o cijeni rada.
The cheaper the labour, the larger the number of employees.
Ako je rad jeftiniji onda će i zaposlenih biti više.
Labour is expensive in Croatia, not only due to relatively high net salaries, but also due to heavy social contributions to be paid by employers who therefore hire less people than they normally would if the total labour cost were lower.
Rad je u Hrvatskoj skup ne samo zbog razmjerno visokih neto plaća, nego i zbog velikih doprinosa koji se plaćaju pa stoga poslodavci zapošljavaju manje ljudi nego što bi to činili da je ukupna cijena rada manja.
Due to the high total labour cost, there are less employment opportunities for both older and younger persons in the official economy, while the unofficial (shadow) economy is growing.
Zbog visoke ukupne cijene rada, sužava se prostor i za zapošljavanje starijih i mladih osoba u službenom gospodarstvu i/ili povećava se neslužbeno (sivo) gospodarstvo.
After all, the old and the young do not necessarily have to do the same jobs.
Konačno, mladi i stari ne moraju raditi na istim radnim mjestima.
Due to all the above said, it is vital to explore the possibility of co-financing the employment of the elderly and to make their earnings, as well as the earnings of all employees, more dependent on productivity.
Zbog svega navedenog važno je istražiti mogućnost sufinanciranja zapošljavanja starijih osoba te njihova primanja - kao uostalom i primanja svih zaposlenih - više vezati uz produktivnost.
And finally, it is necessary to promote legislation that will provide for more flexible and shorter working hours than usual, and to consider a partial retirement scheme.
Konačno, potrebno je potaknuti zakonodavna rješenja koja će omogućiti fleksibilniji i kraći rad od uobičajenog te razmotriti sustav djelomičnog umirovljenja.
Zoran Bubaš, Institute of Public Finance
Zoran Bubaš, Institut za javne financije
Sandra Švaljek, Institute of Economics
Sandra Švaljek, Ekonomski institut Zagreb
A public debt can be defined as the accumulated borrowings of the state, or as the sum of all claims that its creditors have upon the public sector at any given moment.
Javni dug možemo definirati kao akumulirana pozajmljena novčana sredstva države, odnosno sumu svih potraživanja koja prema javnom sektoru imaju njegovi vjerovnici u određenom trenutku.
What is financed by borrowing is accumulated budgetary deficits.
Ono što se financira zaduživanjem jesu akumulirani proračunski deficiti.
And a deficit is nothing but the excess of budgetary expenditure over revenue during a given period of time.
Deficit nije ništa drugo nego višak proračunskih rashoda nad prihodima tijekom određenog vremenskog razdoblja.
Irrespective of the scope of government and the revenue and expenditure from which it is calculated, a deficit is in the long run a quite ordinary difference (remainder).
Neovisno o obuhvatu države te prihodima i rashodima iz kojih se računa, deficit je u konačnici obična razlika (ostatak).
Thus the impact of a deficit (and a public debt) on an economy, and their interaction with other economic variables necessarily have to be looked at in the context of a given fiscal policy.
Stoga se utjecaj deficita (i javnog duga) na gospodarstvo i njihovo međudjelovanje s drugim ekonomskim veličinama nužno moraju u promatrati u kontekstu konkretne fiskalne politike.
Contemporary economic science does not have a unified viewpoint about fiscal deficits and public debts.
Suvremena ekonomska znanost nema jedinstveno stajalište o fiskalnom deficitu i javnom dugu.
This lack of unity comes from a different selection of premises on which the models of differing schools are based.
Neujednačenost proizlazi iz različitog odabira pretpostavki na kojima se temelje modeli različitih škola.
In general, we can distinguish the Keynesian, the Ricardian and the neoclassic schools on the economic effects of fiscal deficits.
Općenito, razlikujemo kejnezijansku, rikardijansku i neoklasičnu školu o ekonomskim učincima fiskalnih deficita.
With respect to the strength of their models and empirical confirmations, it can be concluded that the Ricardian paradigm needs to be rejected not only for reasons of theory, but because there are very few proofs about the real behavior of the economic variables; most empirical macroeconomic research shows that a deficit does have real effects.
Obzirom na “snagu” njihovih modela i empirijsku potvrdu, može se zaključiti kako rikardijansku paradigmu valja odbaciti ne samo iz teorijskih razloga, već i zato što ima vrlo malo dokaza u stvarnom ponašanju gospodarskih veličina; veći dio makroekonomskih empirijskih istraživanja pokazuje da deficit doista ima realne učinke.
As for the other two schools, it can be said that the neoclassic offers a theoretical basis for the analysis of the permanent components of the deficit, while the Keynesian gives a framework for the analysis of temporary deficits.
Što se tiče preostalih dviju škola, može se reći da neoklasična pruža teorijsku podlogu za analizu trajne komponente deficita, dok kejnezijanska daje okvir za analizu privremenih deficita.
Their basic drawback is that while studying the effects of a deficit and the public debt on economic activity, to a very great extent they ignore essential elements of the politics of deficit financing: the manner of financing the deficit (by issuing debt or by monetary financing), the cause of the origin of the deficit (increased government spending or reduced tax revenue), the structure of tax revenue and the structure of government spending, the period over which deficit financing is resorted to (apart from the neoclassical school, which makes a distinction between lasting and temporary deficits) and whether exogenous policies are anticipated or non-anticipated.
Njihov je osnovni nedostatak što prilikom izučavanja učinaka deficita i javnog duga na gospodarsku aktivnost u velikoj mjeri zanemaruju bitne elemente politike deficitnog financiranja: način financiranja deficita (financiranje emisijom duga ili monetarno financiranje), uzrok nastanka deficita (povećanje državne potrošnje ili smanjenje poreznih prihoda), strukturu poreznih prihoda i strukturu državne potrošnje, rok u kojem se provodi deficitno financiranje (osim neoklasične škole koja pravi razliku između trajnih i privremenih deficita) i jesu li egzogene politike anticipirane ili neanticipirane.
For this reason some more recent considerations of the impact of a deficit on economic activity starts from the fact that, in order to evaluate the effect of fiscal policy on aggregate demand, it is necessary to work out a model of the economy and specify the reference policy (with respect to which some policy can be called expansive or restrictive).
Stoga neka novija razmatranja utjecaja deficita na gospodarsku aktivnost polaze od toga da je, u svrhu ocjene utjecaja fiskalne politike na agregatnu potražnju, potrebno izraditi model ekonomije i specificirati referentnu politiku (u odnosu na koju se neka politika može nazvati ekspanzivnom ili restriktivnom).
The links between fiscal policy, GDP and other macroeconomic variables are looked at within the framework of a Keynesian model of a closed economy (in the form of an IS-LM model) and a Mundell-Fleming model of a small open economy (in the form of an IS-LM-BOP model, or an IS-LM model expanded for external equilibrium).
Veze između fiskalne politike, BDP-a i ostalih makroekonomskih varijabli promatrane su u okvirima kejnezijanskog modela zatvorene privrede (u obliku IS-LM modela) i Mundell-Flemingovog modela male otvorene privrede (u obliku IS-LM-BOP modela, odnosno IS-LM modela proširenog za vanjsku ravnotežu).
Fiscal expansion (and increase of public spending G with unchanged taxation T) according to a Keynesian model increases average demand and shifts the aggregate demand curve to the right, and thus the IS curve too in the same direction.
Fiskalna ekspanzija (povećanje javne potrošnje G uz nepromijenjene poreze T) prema kejnezijanskom modelu povećava agregatnu potražnju i pomiče krivulju agregatne potražnje udesno, a time i IS krivulju u istom smjeru.
After all periods this brings the system into a final equilibrium, in which the equilibrium domestic product is greater than it was before (unless the economy is in a situation of high unemployment when the AS curve will be horizontal).
Nakon svih razdoblja to dovodi sustav u konačnu ravnotežu, u kojoj je ravnotežni domaći proizvod veći nego prije, ravnotežni realni kamatnjak također, a ravnotežna razina cijena je viša nego prije (osim ako se privreda ne nalazi u situaciji visoke nezaposlenosti kada je krivulja AS vodoravna).
In the Mundell-Fleming model of a small open economy with not totally employed resources (and productive factors), with a totally elastic aggregate supply curve, and static exchange rate expectations and total mobility of capital, the effects of an expansionist fiscal policy can be observed in two extreme exchange rate systems.
U Mundell-Flemingovom modelu male otvorene privrede s nepotpuno zaposlenim izvorima (i proizvodnim faktorima), potpuno elastičnom krivuljom agregatne ponude, te statičkim očekivanjima tečaja i potpunom mobilnošću kapitala, učinci ekspanzivne fiskalne politike mogu se promatrati u dva (ekstremna) sustava tečaja.
With a totally fixed exchange rate all the disturbances of the external equilibrium will be manifested in the balance of payments; with a totally fluctuating exchange rate, all disturbances of the external balance will be manifested only in an alteration in the exchange rate.
Kod potpuno fiksnog tečaja svi poremećaji vanjske ravnoteže manifestiraju se u bilanci plaćanja; kod potpuno fluktuirajućeg tečaja svi poremećaji vanjske ravnoteže manifestiraju se isključivo u promjeni tečaja.
It can be shown that fiscal policy is very effective in the change of domestic product Y and the interest rate in both exchange rate systems, with the proviso that it is increasingly effective the lower the mobility of capital.
Može se pokazati da je fiskalna politika vrlo učinkovita u promjeni domaćeg proizvoda Y i kamatnjaka u oba sustava tečaja, s time da je djelotvornija što je mobilnost kapitala manja.
Fiscal expansion in conditions of total capital mobility repairs the external equilibrium - in a fluctuating exchange rate system there will be appreciation, in a system with a totally fixed capital there will be a surplus in the overall balance of payments.
Fiskalna ekspanzija u uvjetima potpune mobilnosti kapitala popravlja vanjsku ravnotežu - u sustavu fluktuirajućeg tečaja dolazi do aprecijacije, u sustavu potpuno fiksnog tečaja dolazi do suficita u općoj bilanci plaćanja.
With total immobility of capital, fiscal expansion leads to a deterioration in external equilibrium, which in a system of fluctuating exchange rate means depreciation, and in a system of a fixed exchange rates a deficit of the overall balance of payments.
Uz potpunu nemobilnost kapitala fiskalna ekspanzija pogoršava vanjsku ravnotežu, što u sustavu fluktuirajućeg tečaja znači deprecijaciju, a u sustavu fiksnog tečaja deficit opće bilance plaćanja.
The effects of an expansionist fiscal policy, or of a fiscal deficit and a public debt on macroeconomic variables can be studied through the financial flow accounts, the matrix of current economic activities (creation and primary use of earnings) is additionally expanded by capital transactions of institutional sectors or the use of savings.
Utjecaji ekspanzivne fiskalne politike, odnosno fiskalnog deficita i javnog duga na makroekonomske varijable mogu se proučiti kroz račune financijskih tokova, pri čemu se matrica tekuće privredne aktivnosti (stvaranja i primarne uporabe dohotka) dodatno proširuje za kapitalne transakcije institucionalnih sektora, odnosno uporabu štednje.
From the current transactions and capital transactions of the government sector we can draw up a government balance of payments; on the left hand side is the current government deficit augmented by foreign supports and total investments and capital expenditure (some very close to the overall deficit), while on the right hand side is something very close the per sector financing account of this deficit.
Iz tekućih transakcija i kapitalnih transakcija sektora države može se sastaviti bilanca plaćanja države; na njezinoj lijevoj strani nalazi se tekući deficit države uvećan za inozemne potpore i ukupne investicije i kapitalne rashode (nešto vrlo blizu općeg deficita), dok je na desnoj strani nešto vrlo blizu računu financiranja tog deficita po sektorima.
The general deficit of the government is financed by borrowing from the institutional sectors of households, firms, the monetary and banking sector and the foreign sector.
(Opći) deficit države financira se zaduživanjem kod institucionalnih sektora kućanstava, poduzeća, monetarnog i bankarskog sektora i sektora inozemstva.
Borrowing from each given institutional sector has various implications for the macroeconomic variables (particularly on the financial variables, like the amount of money in circulation and the levels of prices).
Zaduživanje kod svakog pojedinog institucionalnog sektora ima različite implikacije na makroekonomske varijable (osobito na financijske varijable, poput količine novca u opticaju i razine cijena).
If the government borrows in the household sector or the corporate sector (through issuing bonds, for example), apart from the effect of crowding out private investments, this kind of borrowing has no essential effect on the nominal variables such as price levels or the amount of money in circulation.
Ako se država zadužuje kod sektora kućanstava ili poduzeća (npr. izdavanjem vrijednosnih papira), osim efekta istiskivanja privatnih investicija takvo zaduživanje nema bitnog utjecaja na nominalne varijable poput razine cijena ili količine novca u opticaju.
Borrowing in the foreign sector brings in upheavals in the foreign currency market.
Zaduživanje kod sektora inozemstva unosi poremećaje na devizno tržište.
Such pressures on the exchange rate depending on the speed and size of the transfers to domestic prices and the exchange rate system also affect monetary policy, imposing various constraints on it (for example, the need to sterilize foreign currency inflows, changes in the exchange rate and prices, and so on).
Takvi pritisci na tečaj ovisno o brzini i veličini prijenosa na domaće cijene i tečajnom sustavu utječu i na monetarnu politiku, namećući joj razna ograničenja (npr. potrebu steriliziranja deviznih priljeva, promjene tečaja i cijena itd.).
If the government takes out loans from the monetary authority, there is an increase in primary money (the money basis), which via the monetary multiplier increases the total supply of money by both the narrower and the wider definitions (M1 and M2/M4), which (with an unchanged demand for money) spills over into an increase of the total level of prices.
Ako država uzima kredite kod monetarnih vlasti, dolazi do povećanja primarnog novca (novčane baze), što preko novčanog multiplikatora povećava ukupnu ponudu novca i po užoj i po široj definiciji (M1 i M2/M4), što se (uz nepromijenjenu potražnju za novcem) “prelijeva” u povećanje ukupne razine cijena.
Public sector borrowing from the banking sector without surpluses of free resources does not have any very significant monetary effect because in the banks' loan portfolios there is simply a redistribution of loans to the advantage of the government.
Zaduživanje države kod bankarskog sektora bez viška slobodnih sredstava nema značajnije monetarne efekte, jer u kreditnom portfelju banaka dolazi samo do preraspodjele između nekih drugih kredita u korist države.
An increase in the total money supply is not reflected so much in a reduction of interest rates on the money market, but with an increase of loans for investment and expenditure these total aggregate demands (with an unchanged aggregate supply) will after all affect prices and the foreign equilibrium.
Povećanje ukupne ponude novca ne ispoljava se u tolikoj mjeri u smanjivanju kamatnih stopa na novčanom tržištu, ali povećanjem kredita za investicije i potrošnju te ukupne agregatne potražnje (uz nepromijenjenu agregatnu ponudu) ipak djelovati na cijene i na vanjsku ravnotežu.
The very nature of a fiscal deficit as residual magnitude, and the possibility for it to be financed via borrowing and/or issuing money restricts the possibility of establishing firm connections between fiscal deficit and growth, and between a deficit and most real macroeconomic variables.
Sama priroda fiskalnog deficita kao rezidualne veličine, kao i mogućnost da se on financira zaduživanjem i/ili emisijom novca, ograničava mogućnost uspostavljanja čvrste veze između fiskalnog deficita i rasta, te između deficita i većine realnih makroekonomskih veličina.
Although economists have invested a great deal of effort into ascribing to a deficit the character of a positive, negative or neutral phenomenon, not a great deal of success has been achieved.
Iako su ekonomisti uložili velik napor da deficitu pridaju svojstvo pozitivne, negativne ili neutralne pojave, u tome nisu imali velikog uspjeha.
Many of the theoretical works or empirical research carried out can nevertheless help in the making of certain value judgments.
Mnoštvo teorijskih radova i provedenih empirijskih istraživanja ipak može pomoći da donesemo određene vrijednosne sudove.
It is interesting that these judgments are very similar to classical stances about the fiscal deficit and public debt.
Zanimljivo je da su ti sudovi vrlo slični klasičnim stavovima o fiskalnom deficitu i javnom dugu kao kumulativu te veličine.
Thus we can conclude that a fiscal deficit can be justified (if not actually desirable) in circumstances of acute needs for public expenditure, and that a deficit should be tolerated when tax revenue is temporarily reduced.
Tako možemo zaključiti da fiskalni deficit može biti opravdan (iako ne i poželjan) u okolnostima izuzetnih potreba za javnim izdacima, kao i da deficit treba pretrpjeti kada se porezni prihodi privremeno smanje.
Similarly, we may conclude that a deficit may serve the purposes of stabilization, i.e., as an instrument of contra-cyclical conjunctural policy.
Isto tako, zaključujemo da deficit može poslužiti u stabilizacijske svrhe, tj. kao instrument kontraciklične konjunkturne politike.
Like a fiscal deficit, neither can a public debt be an instrument for stimulating growth, although a very large number of developed industrial countries with a very high debt to GDP ratio can be cited.
Kao i fiskalni deficit, tako ni javni dug ne može biti instrument poticanja rasta, mada se može navesti vrlo velik broj razvijenih industrijskih zemalja s vrlo visokim udjelom duga u BDP-u.
If, however, a need should arise to finance public expenditure by debt, those in charge of economic policy should while taking out loans determine whether the economy can, in the long run, bear the burden of repayments.
Ukoliko se ipak pokaže potreba za financiranjem javnih izdataka dugom, nositelji ekonomske politike pri uzimanju zajmova trebaju prosuditi može li gospodarstvo, u dugom roku podnijeti teret otplate duga.
Furthermore, fiscal policy then has to be brought into line with monetary policy, not allowing an exaggerated growth of the interest rate.
Nadalje, fiskalnu politiku tada treba usklađivati s monetarnom politikom ne dozvoljavajući pretjeran porast kamatnjaka.
Particular efforts should be made to use loans taken for projects with a pronounced developmental effect.
Osobito treba nastojati da se uzeti zajmovi iskoriste za projekte s izrazitim razvojnim djelovanjem.
In all other cases, the policy of deficit financing and borrowing is a risk factor that can jeopardize the present and future functioning of the economy and its growth.
U svim je ostalim slučajevima politika deficitarnog financiranja i zaduživanja faktor rizika koji može ugroziti sadašnje i buduće funkcioniranje gospodarstva i njegov rast.
In a narrow sense (from the point of view of fiscal policy) the public debt can be looked at as a means of financing expenditure not covered by tax revenue.
U užem smislu, (iz kuta fiskalne politike) javni dug se može promatrati kao sredstvo financiranja izdataka koji nisu pokriveni poreznim prihodima.
Two (in practice) frequently used arguments justifying structural borrowing are: a) since the use from long-life public goods financed by borrowing will be had by future generations it is just that they too bear part of the burden of investment; b) borrowing enables the financing of more public investments that can be financed via taxes alone.
Dva (u praksi) često korištena argumenta za opravdavanje strukturnog zaduživanja jesu: a) budući da koristi od dugotrajnih javnih dobara financiranih zaduživanjem imaju i buduće generacije, pravedno je da iste snose i dio tereta investicije; b) zaduživanje omogućuje financiranje više javnih investicija nego što ih je moguće financirati porezima.
Indeed, it does seem inequitable to finance infrastructure projects (road building, for example) with the tax money of today's taxpayers, when the advantages and benefits will be enjoyed by future generations (future taxpayers).
Doista, čini se nepravednim financirati infrastrukturne projekte (npr. izgradnju ceste) poreznim novcem današnjih poreznih obveznika, kada će u prednostima i koristima uživati i budući porezni obveznici (buduće generacije).
The point of view that rests on the principle of created benefits often seems a priori correct in the public, which is handy for politicians when they are urging or justifying borrowing.
Stajalište koje počiva na načelu ostvarenih koristi često se u javnosti smatra a priori ispravnim, što osobito ide na ruku političarima kada zagovaraju ili opravdavaju zaduživanje.
Although as a rule borrowing has been justified by the needs of investment, at today's level of indebtedness to a great extent the rise in the spending of the public sector can be seen.
Iako se u pravilu zaduživanje opravdava(lo) investicijskim potrebama, u današnjoj se razini zaduženosti u velikoj mjeri ogleda i rast potrošnje javnog sektora.
From today's perspective it can be concluded that public investment (for which on the whole there is very little lobbying) very seldom coincide with the well organized and fairly vociferously articulated interests of various groups of society.
Iz današnje perspektive može se zaključiti kako se javne investicije (za koje najčešće nitko ne lobira) rijetko poklapaju s dobro organiziranim i dovoljno glasno artikuliranim interesima različitih društvenih skupina.
The result of a weaker promotion of the general interest can be seen precisely in the excessive growth of the public sector without the objective so much canvassed of financing new infrastructure actually having been achieved.
Rezultat “slabijeg” promicanja općeg interesa ogleda se upravo u prekomjernom rastu javnog sektora bez ostvarenog propagiranog cilja financiranja “nove” infrastrukture.