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 language | English |
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Pages (from-to) | 178-180 |
Number of pages | 2 |
Journal | Economics Letters |
Volume | 108 |
Issue number | 2 |
DOIs | |
Publication status | Published - Aug 2010 |
Keywords
- Monte Carlo Integration
- Social clubs
- Transition matrix