THE IMPLEMENTATION OF SYNTHETIC VARIABLE FOR CONSTRUCTING THE STANDARD OF LIVING MEASURE IN EUROPEAN UNION COUNTRIES

Marta Kuc ()
Additional contact information
Marta Kuc: Nicolaus Copernicus University

Oeconomia Copernicana, 2012, vol. 3, issue 3, 5-19

Abstract: This paper proposes the use of synthetic variable to examine differences in the standard of living in the EU countries. The synthetic variable allows to replace the whole set of variables into one aggregated variable. This variable is the basis for organizing and grouping countries in terms of standard of living. The subject of empirical analysis are 24 member states of the European Union in 1995-2010. The analysis of synthetic variable reveals that there are significant disparities between countries in the field of overall socio-economic development. The analysis show favorable situation in Ireland and very unfavorable conditions in Romania, Bulgaria and the Baltic countries.

Keywords: standard of living; synthetic variable; taxonomy methods; comparative analysis (search for similar items in EconPapers)
JEL-codes: C38 (search for similar items in EconPapers)
Date: 2012
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://dx.doi.org/10.12775/OeC.2012.012 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pes:ieroec:v:3:y:2012:i:3:p:5-19

Access Statistics for this article

Oeconomia Copernicana is currently edited by Adam P. Balcerzak and Michal Moszynski

More articles in Oeconomia Copernicana from Institute of Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by Adam P. Balcerzak ( this e-mail address is bad, please contact ).