Regional Analysis Of The Real Earnings In Romania
In this paper we investigated the impact of some indicators on the average earnings at county level in Romania for the period 2000-2012. After a short statistical analysis of the indicators used in this study and after excluded Ilfov and Bucharest, we grouped the counties into three main clusters by applied a Hierarchical cluster analysis. We then estimated three panel data models corresponding to each of the three clusters and the results indicated that the factors with positive influence are the number of graduates from tertiary education, the number of immigrants, the GDP, while the factors with negative influence are the civilian employed population level and the number of emigrants. The results of the Monte Carlo simulation suggests that, in general, for the period 2013 - 2014 the real average gross earnings in Romania is expected to keep a positive trend through the entire analysed period.
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