Transition of social welfare in the European country clubs

Transition of social welfare in the European country clubs

We use Markov process to estimate the transition matrix of social welfare in EU by adopting a Bayesian approach and Monte Carlo Integration. There exists persistence in unemployment rate, whilst regarding social expenditures four identified social clubs converge to two.

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Bibliographische Detailangaben
Veröffentlicht in:Economics letters 2010-08, Vol.108 (2), p.178-180
Hauptverfasser: Christodoulakis, George A., Mamatzakis, Emmanuel C.
Format: Artikel
Sprache:eng
Schlagworte:
Economic conditions
Europe
European Union
Monte Carlo Integration
Social clubs
Social clubs Monte Carlo Integration Transition matrix
Transition matrix
Welfare state
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Beschreibung
Zusammenfassung:We use Markov process to estimate the transition matrix of social welfare in EU by adopting a Bayesian approach and Monte Carlo Integration. There exists persistence in unemployment rate, whilst regarding social expenditures four identified social clubs converge to two.
ISSN:0165-1765
1873-7374
DOI:10.1016/j.econlet.2010.05.012