Despite the fact that in the times of global crisis everything is about survival, the welfare is still\r\nan important matter for people. In this paper we propose to calculate a representative\r\nquantitative indicator for welfare for the 27 state members of the European Union in order to\r\nestablish certain connections between the level of welfare and some factors of influence like,\r\nGDP, education, long learning public expenditure, unemployment and vulnerable employment.\r\nOur approach underlines once more that the outcome of research and development activity, of\r\neducation and long learning and also of social care protection improves the sustainability of\r\nwelfare for every nation. There is a positive correlation between the new welfare indicator and\r\nsome of the indicators mentioned above. Nevertheless, the effects of those factors aren�t\r\nimmediate and this fact is reflected in the number of lags for each exogenous variable taking\r\ninto analysis.\r\nIn order to connect to the current economic problems such as high level of unemployment, that\r\nthe most member states in the European Union are facing we tested the relationship between\r\nwelfare and unemployment rate and the results sustain the assumption of a negative\r\ncorrelation between them.
Loading....