REAL WAGE CONVERGENCE IN ROMANIA: EMPIRICAL EVIDENCE BASED ON CLUB CONVERGING
REAL WAGE CONVERGENCE IN ROMANIA: EMPIRICAL EVIDENCE BASED ON CLUB CONVERGING
Author(s): Olimpia NeaguSubject(s): Micro-Economics
Published by: Editura Universităţii Vasile Goldiş
Keywords: convergence; wages; panel data; econometric output;
Summary/Abstract: The study aims to explore the real wage convergence across the 42 Romanian counties from 1991 to 2016 by using the convergence algorithm developed by Phillips and Sul (2007). The process of divergence is identified in the period of 1991-2016 as well as a number of 4 convergence subgroups (clusters). Transitional curves indicate that over the long-run the real wage tends to converge. Policy implications of the paper's findings are also provided.
Journal: Studia Universitatis Vasile Goldiş, Arad - Seria Ştiinţe Economice
- Issue Year: 30/2020
- Issue No: 3
- Page Range: 108-117
- Page Count: 10
- Language: English