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Abstract

ABSTRACT:

The coins of Sigismund III Vasa (1587–1632) were one of the most numerous foreign specimens to be found all over the Ottoman Empire. They were part of the coin circulation in the Bulgarian lands at the end of the 16th and in the first half of the 17th century. The Sigismund’s coins were preferred also as hoarding issues and that is why they are often presented in coin hoards from that time. The aim of this study is to present the variety of denominations of the ruler found in the region of Varna and to explain their significance and the role in the coin circulation in the Ottoman Empire in the 16th and 17th century.

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Authors and Affiliations

Nevyan Mitev
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Abstract

We introduce consumption habits into a real-business-cycle setup augmented with a detailed government sector. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2018). We investigate the quantitative importance of the presence of internal consumption habits motive for the propagation cyclical fluctuations in Bulgaria. Allowing for internal habits in household’s consumption improves the model performance against data, and in addition this extended setup dominates the standard RBC model framework without habits. Therefore, the computational experiments performed in this paper suggest that habits are a quantitatively important model ingredient, which should be taken into consideration when analysing the effects of different policies in Bulgaria. This result can be viewed as an empirical validation of the habit model, and a rejection of the model without habits in the case of Bulgaria. In addition, we also demonstrate that internal habits are quantitatively more important than external habits for the Bulgarian business cycle.
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Authors and Affiliations

Aleksandar Vasilev
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Abstract

In this paper we investigate the quantitative importance of efficiency wages of no-shirking type in explaining business cycle fluctuations in Bulgarian labor markets. This is done by augmenting a relatively standard real business cycle model with unobservable workers effort by employers and efficiency wage contracts, as well as through the inclusion of a detailed government sector. This imperfection in labor markets introduces a strong internal transmission mechanism that allows the model framework to capture the business cycles in Bulgarian data better than earlier models, and setups assuming perfectly-competitive labor markets in particular.

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Authors and Affiliations

Aleksandar Vasilev
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Abstract

This article discusses finds of Roman coins made during excavations in Novae (Bulgaria), by the University of Warsaw’s Research Center on the Antiquity of Southeastern Europe. Novae is a Roman legionary camp in the province of Moesia, associated mainly with the Legion I Italica. However, the camp was built by the Legion VIII Augusta. The article analyzes the coin finds from 60 years of excavations at this archaeological site, coming from the area of the so-called sector IV and sector XII. Sector IV is mainly the Legion I military hospital ( valetudinarium), while Sector XII is referred to as the Legion VIII cohort barracks area. The aim of the article is to present a model of the circulation of Roman coins in the areas of legionary camps on the lower Danube.
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Authors and Affiliations

Renata Ciołek
1
ORCID: ORCID

  1. Faculty of Archaeology, University of Warsaw, Krakowskie Przedmieście 26/28, PL 00–927 Warsaw, Poland

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