Comparison of Venezuela´s minimum wage purchasing power with that in four Latin-American countries in 2008
AbstractThis paper compares Venezuela´s minimum wage purchasing power with those in Argentina, Colombia, Chile and Peru, using data mining. Using Bayesian networks, it was found that the consumption pattern for the 108 goods considered is similar in these countries. The order of countries according to their minimum wage purchasing power from highest to lowest was found to be Argentina, Chile, Colombia, Venezuela and Peru. Results obtained by means of variance analysis pointed out that the variables that influenced the observed price difference between Venezuela and each other country are: type, origin and degree of necessity of each good, gender and, in particular, goods for infants and the elderly.
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Bibliographic InfoArticle provided by Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela in its journal Economía.
Volume (Year): 37 (2012)
Issue (Month): 33 (January-june)
Contact details of provider:
Postal: Facultad de Ciencias Económicas y Sociales. Instituto de Investigaciones Económicas y Sociales. Campus Universitario Liria, Edificio G, Tercer Nivel. Mérida 5101, Estado Mérida, Venezuela
Phone: +58 74 401111 ext. 1081
Fax: +58 74 401120
Web page: http://iies.faces.ula.ve/
More information through EDIRC
Minimum wage purchasing power; data mining; bayesian networks; analysis of variance.;
Find related papers by JEL classification:
- C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
- J39 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Other
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