COST ANALYSIS IN FRUIT AND VEGETABLE PROCESSING PLANTS

Abstract

This article presents a systematic review of the theoretical and empirical literature examining the interrelationship
between inflation, economic growth, and unemployment within the frameworks of the Phillips Curve and Okun’s Law. The
study provides a comprehensive reassessment of these fundamental macroeconomic relationships in the context of job
creation and job reallocation processes, with particular attention to emerging and transition economies.
The review synthesises classical, expectations-augmented, and New Keynesian interpretations of the inflation–
unemployment relationship, alongside modern extensions that incorporate nonlinearity, asymmetry, and structural changes
in the growth–unemployment nexus. It also evaluates how macroeconomic fluctuations, supply-side developments, policy
frameworks, and institutional characteristics influence the stability and magnitude of these relationships over time.
Special attention is given to empirical evidence from developing and post-transition economies, where traditional linear
specifications may not fully reflect the complexity of labour market dynamics. The article emphasises the importance of
incorporating cyclical asymmetries, business cycle phases, and structural factors when analysing employment responses
to macroeconomic developments.
Methodologically, the study adopts a structured analytical review approach, comparing theoretical concepts with crosscountry
empirical findings. Job creation and job reallocation are interpreted as macroeconomically influenced processes
shaped not only by output dynamics but also by inflation expectations, monetary and fiscal policy coordination, and
institutional conditions.
The main contribution of the article lies in integrating the Phillips Curve and Okun’s Law into a unified analytical framework
that explains the link between macroeconomic variability and employment dynamics. By systematising existing theoretical
and empirical evidence, the study provides a conceptual basis for future empirical research and policy development
aimed at supporting sustainable and employment-oriented economic growth.