Standards of Living Indices Modelling in European Monetary Union Members Countries

Authors: Jiří Křupka, Romana Provazníková, Jan Langer, Miloslava Kašparová

Abstract: In the article a problem of modelling of standards of living is presented. The standards of living problem is described for real data set about 17 member states of European Monetary Union. It focuses on the quality of life and economic prosperity of the country. Models of Quality of life index, Prosperity index and Complete Standard of Living were proposed and analysed on the basis of cluster analysis algorithm TwoStep. Models were realised in SPSS Clementine.

Pages: 174-181

DOI: 10.46300/9103.2022.10.28

International Journal of Economics and Statistics, E-ISSN: 2309-0685, Volume 10, 2022, Art. #28