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- Title
The Impact of the Great Recession on Well-Being across Europe Ten Years On: A Cluster Analysis.
- Authors
Croci Angelini, Elisabetta; Farina, Francesco; Sorana, Silvia
- Abstract
To evaluate variations in the well-being dimensions of European citizens, we rely upon Principal Component Analysis methodology, whereby a large set of interrelated indicators are reduced to a small number of aggregate synthetic variables. We find that the 2008 crisis impinged differently on the various dimensions of well-being. The evolution of the indicators has affected different clusters of countries in various ways. Most importantly, we observe that there has been a shift of the principal component from the poor in terms of material deprivation to the risk of poverty for the worsening conditions in the labor market.
- Subjects
EUROPEAN Union; GREAT Recession, 2008-2013; CLUSTER analysis (Statistics); PRINCIPAL components analysis; WELL-being; INDUSTRIAL clusters; LABOR market
- Publication
Economies, 2024, Vol 12, Issue 5, p115
- ISSN
2227-7099
- Publication type
Article
- DOI
10.3390/economies12050115