Transition of social welfare in the European country clubs

George A. Christodoulakis, Emmanuel C. Mamatzakis

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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. © 2010 Elsevier B.V.
Original languageEnglish
Pages (from-to)178-180
Number of pages2
JournalEconomics Letters
Volume108
Issue number2
DOIs
Publication statusPublished - Aug 2010

Keywords

  • Monte Carlo Integration
  • Social clubs
  • Transition matrix

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