Transition of social welfare in the European country clubs

George A. Christodoulakis and Emmanuel Mamatzakis

Economics Letters, 2010, vol. 108, issue 2, 178-180

Abstract: 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.

Keywords: Social; clubs; Monte; Carlo; Integration; Transition; matrix (search for similar items in EconPapers)
Date: 2010
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Working Paper: Transition of Social Welfare in the European Country Clubs (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:108:y:2010:i:2:p:178-180

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