Sustainable Wages and Need for Convergence in EU-28 Countries

Transcription

1 Jea Adrei 1 Zaharia Maria Gogoea Rodica Mauela 3 Petrache Da Cosmi 4 Zaharia Radu 5 JEL: E4, C38, O47 DOI: /idustrija UDC: Origial Scietific Paper Sustaiable Wages ad Need for Covergece i EU-8 Coutries Article history: Received: 11 August 016 Set for revisio: Seprember 016 Received i revised form: 1 November 016 Accepted: 8 November 016 Available olie: 30 December 016: Abstract: I cotext of recet trasformatio of the EU ecoomic ad social model, assurig sustaiable wages for workers represets a great challege. The effects of ecoomic crisis have imposed umerous shifts i productivity frotier ad labor productivity. Despite the fact that the wage`s level have bee improved recetly, the eed for adjustmets is still more actual. The mai aim of this paper is to aalyze if the wage level is sustaiable ad it assures a proper livig stadard i accordace to EU-8 ecoomic ad social model. I additio, a model of wages evolutio is described. Keywords: aual et earigs, covergece, cluster aalysis, wages. Održivost zarada i potreba za kovergecijom sa zaradama u EU-8 zemljama Apstrakt: U kotekstu edavih promea u privredi i društveom razvoju u EU, obezbeđeje održivosti zarada za radike predstavlja veliki izazov. Pod uticajem ekoomske krize došlo je do pomeraja graice produktivosti koju radici trebaju da ostvare. Pored toga što je došlo do usklađivaja ivoa zarada, I dalje se potreba dalja usklađivaja. CIlj ovog rada je da aalizira da li su zarade održive I da li obezbeđuju dovolja životi stadard u skladu sa 1 Petroleum-Gas Uiversity of Ploiesti, Romaia, Petroleum-Gas Uiversity of Ploiesti, Romaia 3 Bucharest Uiversity of Ecoomic Studies, Romaia 4 Bucharest Uiversity of Ecoomic Studies, Romaia 5 Valahia Uiversity of Targoviste, Romaia Idustrija, Vol.44, No.4,

2 ekoomskim i društveim modelom u EU. U radu se takođe opisuje model razvoja zarada. Ključe reči: Godišje eto zarade, kovergecija, aaliza klastera, zarade. 1. Itroductio I cotemporary ecoomies labor force represets oe of the most determiat resources i achievig ecoomic sustaiable developmet ad competitiveess, especially whe it comes to trasitioal ecoomies. The labor force is also a importat factor i shapig the ecoomy structure evolutio. I EU-8, the labor costs have bee dramatically icreasig durig the years which it has imposed a shift of the ecoomic paradigm. Searchig for the cheap ad well traied labour force has become a major turig poit both for the old EU-8 member states ad also for the ew Europea emerget ecoomies. The evolutio of the labour force costs has triggered cotroversial pheomeo as idustrial capacity relocatio to more labor cost friedly zoes i EU-8, productivity frotiers chages ad umerous labor force movemets ad brai drai. The subject of sustaiable wages ad eed for covergece i EU-8 coutries was poorly exploited ad aalyzed durig the years, especially from the Romaia perspective. Wages represet a quite reliable idicator i approachig the labor force movemets ad covergece. Aalyzig the wages level, i cotext of the EU-8, the ecoomic chagig paradigm may costitute oe of the most reliable actios i uderstadig the evolutio of the Europea labor force market. Numerous studies i the field argue the importace of wage i shapig the ecoomic performace ad capital movemets. I this cotext, (Ciutacu ad Chivu, 007) aalyzig the quality of work ad work force occupatio i Romaia describe a very cocerig paorama regardig these aspects o ilad workforce. They argue that Romaia labor force despite its high qualificatio, the level of wages; salaries ad other workrelated reveues have ifluece o ecoomic performace ad uemploymet. I aother study, (Chivu et al., 015) the aalysis icluded the correlatios betwee icomes ad workig time i improvig the quality of work ad employmet i Romaia. O the cotrary, (Mocau ad Serba, 015) explore the quality of Romaia employmet ad wages form the territorial level. Achievig a high level of labor force employed i the ecoomy is fudametal i desigig a high competitivity ecoomy. Despite the fact the labor force market is deeply segmeted both at the MS state level ad EU-8 level, the 48 Idustrija, Vol.44, No.4, 016

3 eed is recogized to achieve competitivity imposed shift of paradigm where the laborer should be idetified itself with the compay. The wage level is a factor that could accelerate the process together with ivestmets as: Iacovoiu ad Paait, (014), Mieila, (01) ad Mieila, (016) argue. Great literature exists o the subject of wage imbalaces i the Europea labour market, such as: Wager, (015); Va Gyes ad Schulte, (015); Colligo, (016); Kretsos ad Livaos, (016); Dora ad Figleto, (016) o employmet resiliece ad may other studies. I this cotext, the mai aim of this study was to aalyze the existece ad sustaiable wages` level i EU-8 ad if there is eed for covergece i EU- 8 coutries. The study started form the assumptio that wages are oe of the most importat idicators i shapig the evolutio of the ecoomy i cotext of ecoomic paradigm chages. Also, i the paper we have tried to develop a model of wages evolutio at the Eu-8 level.. Research methodology I this study, we have referred to the previous works o the cluster aalysis as doe by: Gelder, (014); Zaharia ad Gogoea, (016); Jugăaru ad Jugăaru, (011). For carryig out the research objectives, we used the cluster aalysis i order to defie possible similarities ad dissimilarities amog the wages i EU-8. For this reaso, we have icluded ot oly the EU-8 MS but also 3 coutries. To aalyze how 3 states icluded i the aalysis were structured i terms of aual et icome i 007, the prior year fiacial crisis ad 014 respectively, four idicators were icluded: 1. Sigle perso without childre, 100% of average worker (AW) -- [SPNC]. Oe-earer married couple, at 100% of AW, with two childre -- [M1EC], 3. Two-earer married couple, oe at 100%, the other at 100% of AW, with two childre -- [MEC] 4. Two-earer married couple, oe at 100%, the other at 100% of AW, with o childre -- [MENC]. The idicators data were collected form Eurostat database (EUROSTAT, 016, ad 016a) Followig the stadard research methodology i usig clusters as i (Gelder, (014); Zaharia ad Gogoea, (016); Jugăaru ad Jugăaru, (011), the Idustrija, Vol.44, No.4,

4 first step was to desig ad geerate the series of clusters by formig the iitial data correspodig to the m = 4 idicators for each of the = 36 states. The data collected were cotaied i order to geerate the matrix Y, as (1): matrix Y. (1) y ij i1,,j1,m Also, z score was computed usig (): z ij y ij y j j y y y i1 ij i1 ij j, where y j, j () 1 For geeratig Proximity Matrix ( W was employed as i (Rotaru, 006): w ij i1,,j1, ) the Euclidia distace W w ij i 1,,j 1,, w ij i 1 z z, j 1, m, k 1, m j i, k i, w(3 0 ik ij ii ) Also the Ward s method was employed i order to geerate ad determie the distace betwee clusters as i (Marioiu, 016): ( A, B) i iab x m AB ia x m i A ib x m i B AB AB m A m B (4 ) I (4), A ad B are two clusters, m i is the cetroid, i is the umber of elemets from cluster i. ad x i a item. Also as i previous research, (Zaharia ad Gogoea, 016), it was required to test the sigificace of belogig to clusters of four variables for which reaso was employed NOVA methodology. This methodology could be oly applied if the data series betwee dispersios have o sigificat differeces. For this reaso, Levee's test was also used whose ull hypothesis is: H _ : (5) r The coditio of acceptace of the ull hypothesis H 0_1 is: 50 Idustrija, Vol.44, No.4, 016

5 Sig. F equivalet to F stat F, r1, r (6) Whe usig ANOVA methodology, H0_ ull hypothesis is: betwee the eviromets of aalyzed variables there is a sigificat differece (belogig to clusters of variables aalysis is ot statistically sigificat). The coditio of acceptig the ull hypothesis is H0_: r ( yi y0) i df1 i1 Fstat F r i, r 1, r equivalet to Sig. F ( y y ) df i1 j1 ij i (7) For carryig out the study ad processig the data, we have used SPSS as i previous studies: Zaharia ad Gogoea, (016) (Popa, 008) ad Excel as (Oprea ad Zacharia, 011). 3. Results ad discussio To highlight the characteristics ad developmet treds of the period, the et aual icome of families used cluster aalysis ad time series aalysis over the period Clusters structure i 007 Takig ito accout the data series available (ear_t_et, 016), as well as differet calculatios (ear_et_esms, 016), to highlight the group states based o the aual et icome of 8 states curretly i the EU, the aalysis icluded oly 6 states, as for two EU8 states (Cyprus ad Croatia) data were uavailable for the years whe the aalysis was performed (007 ad 014). Also, for comparability purposes, the aalysis icluded six states which are ot EU members: Icelad, Switzelad, Turkey, Uited States ad Japa. Cluster aalysis has focused o four idicators: Sigle perso Without childre, 100% of average worker (SPNC) Oe-earer married couple, at 100% of average worker (AW) with two childre (M1EC) Two-earer married couple, oe at 100%, the other at 100% of AW, with two childre (MEC) ad Two-earer married couple, oe at 100%, the other at 100% of AW, with o childre (MENC). The first year for which the cluster aalysis was performed usig the Euclidea distace obtaied dedrogram 007 respectively Ward's method is illustrated i Figure 1. Idustrija, Vol.44, No.4,

6 Figure 1. Dedrogram usig Ward Likage for the year 007 Source: ow costructio usig SPSS Lookig at figure 1, 3 states ca be grouped ito two to six clusters. To better highlight the groupig accordig to four idicators, we chose the group i six clusters. Six clusters (Table 1) iclude, besides four EU states, o EU coutries. Thus, the cluster C1 cotais, i additio to 10 EU coutries, a o EU coutry (Turkey), the cluster C3 cotais oe EU coutry (Luxembourg) ad oe o EU coutry (Icelad), cluster C4 cotais two EU Member States (Netherlads ad Uited Kigdom) ad two o-eu coutries (Norway, Switzerlad), ad cluster 6 cotais, besides four EU states, two o EU coutries (Uited states, Japa). 5 Idustrija, Vol.44, No.4, 016

7 Table 1 Structure of clusters determiats by SPNS, M1EC, MEC ad MENC i the year 007 Cluster EU Coutries Coutries icluded i clusters No EU Coutries Bulgaria, Czech Republic, Estoia, Latvia, Turkey C1 Lithuaia, Hugary, Malta, Polad, Romaia, Slovakia C Greece, Portugal, Sloveia C3 Luxembourg Icelad C4 Netherlads, Uited Kigdom Norway, Switzerlad C5 Demark, Germay, Irelad, Frace, Swede, C6 Belgium, Spai, Italy, Austria, Filad, Uited States, Japa Source: authors` ow costructio usig SPSS H0_1 hypothesis testig of o sigificat differeces betwee the values of the data series dispersios obtaied by groupig of six clusters used Levee's Test. The results obtaied are show i Table. Table. Test of Homogeeity of Variaces Levee Statistic df1 df Sig.F SPNC M1EC MEC MENC Source: ow costructio usig SPSS After testig the coditio (5) all Sig.F values> 0.05 that the ull hypothesis H0_1 is accepted ad therefore appropriate variables aalyzed for sigificace testig ca use ANOVA methodology. The results obtaied from ANOVA are preseted i Table 3. Give that for ay of the variables ot the coditio (6) that the ull hypothesis H0_ for all four variables ad therefore variables SPNs, M1EC, MEC ad MENC are sigificat i terms of belogig to clusters. Give that the coditios of statistical sigificace are met for all six clusters correspodig mea values of the variables aalyzed clusters (cluster ceters) ad their characteristics are show i Table 4. Idustrija, Vol.44, No.4,

8 Table 3. Results of testig the hypothesis H 0_ regardig the appurteace of variables SPNS, M1EC, MEC ad MENC to clusters df1 df Fstat F 0.05;5;6 Sig.F SPNC M1EC MEC MENC Source: authors`ow ccomputatios usig SPSS Table 4 The values of clusters ceter (Meas) for the SPNS, M1EC, MEC ad MENC î the year 007, ad their 95% Cofidece Iterval for Mea Clus ter C1 C C3 C4 C5 C6 Mea SPNC M1EC MEC MENC LB UB Mea LB Source: authors ow computatios usig SPSS UB Mea LB UB Mea LB UB 54 Idustrija, Vol.44, No.4, Results from Table 4 allow highlightig a overall view of the level of developmet of the variables (SPNs, M1EC, MEC ad MENC) i 007, the coutries of cluster compoets. Thus, i relatio to the average values of the variables SPNs, M1EC, MEC ad MENC, a plot was carried out (Figure ) to highlight them more clearly o clusters. By studyig ad comparig the levels of developmet of four variables clusters, it may idicate that, i 007, Cluster 1 (C1 007 ) icluded most coutries (11 coutries) compared to the other five clusters. These coutries are: Bulgaria, Czech Republic, Estoia, Latvia, Lithuaia, Hugary, Malta, Polad, Romaia, Slovakia ad Turkey. C1007 is characteristic oscillatio of aual et earigs of the other ie coutries betwee the miimum level

9 established i Bulgaria ad the maximum recorded i the Czech Republic, for all four variables aalyzed. However, oe ca still see feature: compared to the other (C 007, C3 007, C4 007, C5 007, C6 007 ), this cluster assiged the lowest values of average earigs aual wage et for each variable icluded i the aalysis (5346 euro / worker the coutry SPNs, 6 euro / worker the coutry M1EC, 1196 euro / worker the coutry to MEC ad euro / worker the coutry MENC). Figure. Evolutio of the variables SPNS, M1EC, MEC ad MENC by clusters i 007 Source: authors` ow computatio The average aual salary et gai of about.6 times higher tha that of the first cluster, regardless of the variable aalyzed, is scheduled for the followig cluster (C 007 ) which has three compoets coutries: Greece, Portugal ad Sloveia. The hierarchical order of icreasig average values of earig et aual cosiderig each variable aalyzed, with a mea differece of approximately 10 thousad euro / worker coutry, shows Belgium, Spai, Italy, Austria, Filad, amely the Uited States ad Japa cluster 6 (C6 007 ). At small differece of averages C6 007 ad C 007 almost double the presets cluster 5 (C ) coutries: Demark, Germay, Irelad, Frace ad Swede. The first two places are occupied by cluster 3-C3 007 (Luxembourg ad Icelad) ad cluster 4- C4 007 (Netherlads, Uited Kigdom or Norway, Switzerlad). Average aual et earig for first place are euro / worker the coutry SPNs, Euro / worker the coutry M1EC, 8411 Euro / worker the coutry to MEC ad euro / worker the coutry to Idustrija, Vol.44, No.4,

10 MENC. These are fidigs about 8 times bigger comparative with those of the cluster C Regardig average aual wage gai et C4 007 (secod place), show i Table 4 that this matter variable is about 7 times higher tha the cluster C They are preseted i Table 4 the values of the eviromets (Lower ad Upper-UB-LB) for the 95% cofidece lever. Cosiderig that all limit values are the same sig (i this aalysis are positive) that each average aual wage Net gai o cluster ad variable statistically sigificat. This highlights opeess to providig sustaiable wages. 3.. Clusters structure i 014 The secod year for aalysis was 014. They were origially icluded i the aalysis all 3 coutries (6 EU member states ad o EU states 6). Due to large differeces betwee the aual average icome levels i Luxembourg, Norway ad Switzerlad to other coutries icluded i the aalysis at the level of 014 data series dispersios values of the clusters have made the coditio (5) ca o loger be met. Figure 3. Dedrogram usig Ward Likage for the year 014 Source: authors` ow costructio usig SPSS 56 Idustrija, Vol.44, No.4, 016

11 However, takig ito accout that these coutries exempted aual et reveue, ad sice its exclusio from the aalysis has sigificat ifluece o research fidigs, they were removed, ad the aalysus is performed for 9 states, icludig 5 EU coutries ad four o EU members (Icelad, Turkey, Uited States ad Japa) that were icluded i 007. For compariso, geeratig clusters was performed usig the Euclidea distace ad Ward's method respectively. Dedrogram obtaied is illustrated i Figure 3. I Figure 3 two solutios were tested: 4 ad 5 of those clusters. For both tested solutios, H0_1 hypothesis of o sigificat differece betwee the values of the data series dispersios obtaied by the group, the best results were obtaied for the solutio by 5 clusters (Table 5). Table 5. Test of Homogeeity of Variaces Levee Statistic df1 df Sig.F SPNC M1EC MEC MENC Source: authors` ow computatios usig SPSS After testig the coditio (5) variables SPNs, M1EC ad MEC Sig.F values> 0.05, it is foud that, for them, the ull hypothesis is accepted H0_1 ad cosequetly to test the statistical sigificace of these variables belogig to clusters, ANOVA methodology ca be used. These results are preseted i Table 6. Table 6. Results for testig the hypothesis H 0_ regardig variables SPNS, M1EC ad MEC appurteace to clusters usig ANOVA df1 df Fstat F 0.05;4;4 Sig.F SPNC M1EC MEC Source: authors` ow computatios usig SPSS Give that for ay of the three variables, the coditio (6) is ot met, results that the ull hypothesis H0_ is rejected, therefore SPNs variables values, M1EC ad MEC are statistically sigificat from the aspect of belogig to clusters. If the variable MENC after usig Levee's Test resulted Sig.F = <0.05, led to the rejectio of the ull hypothesis H0_1, ad therefore ANOVA ca ot be applied ad Welch's Test was used. Idustrija, Vol.44, No.4,

12 I this case the test statistic was F=319.69>F 0.05,4,7.78, respectively p p_value=0.000<=0.05. I these circumstaces the ull hypothesis is rejected, while the alterative hypothesis is accepted: the average values of variable MENC differ sigificatly i five clusters (cluster membership variable is statistically sigificat MENC). Five clusters (Table 7) iclude three EU states ad o EU coutries. Thus, the cluster C1 cotais, besides 9 EU coutries, oe o EU coutry (Turkey), the cluster C4 cotais four EU states ad oe o EU coutry (Icelad) ad cluster C5 cotais six EU states ad two o EU coutries (Uited States, Japa). Table 7 Structure of the determied clusters by SPNS, M1EC, MEC ad MENC i year 014 Cluster Coutries icluded i clusters EU Coutries No EU Coutries C1 Bulgaria, Czech Republic, Estoia, Latvia, Lithuaia, Hugary, Turkey Polad, Romaia, Slovakia C Spai, Italy, C3 Greece, Malta, Portugal, Sloveia C4 Demark, Netherlads, Swede, Uited Kigdom Icelad C5 Belgium, Germay, Irelad, Frace, Austria, Filad, Uited States, Japa Source: authors` ow costructio usig SPSS The average values of the variables of the aalyzed relevat clusters ad their characteristics, i 014, are preseted i Table 8. Table 8 The values of clusters ceter (meas) for the SPNS, M1EC, MEC ad MENC i 014, ad their 95% Cofidece Iterval for Mea Clust er C1 C C3 C4 C5 Mea SPNC M1EC MEC MENC LB UB Mea Mea Mea LB UB LB UB LB Source: ow computatios usig SPSS UB Aalysis of the results of Table 8, for the year of 014, targetig coutries compoets of clusters that ca lead to a compariso of the levels of 58 Idustrija, Vol.44, No.4, 016

13 developmet of the four variables: SPNs, M1EC, MEC ad MENC. Comparig the average values of et aual earigs led to a hierarchy of clusters ad a graphical represetatio (Figure 4) as follows: i the top of the hierarchy is the cluster 4 (C4 014 ). Average earig aual et is established i relatio to average earigs aual wage et of Bulgaria, Czech Republic, Estoia, Latvia, Lithuaia, Hugary, Polad, Romaia, Slovakia ad Turkey to euro / worker coutry - SPNs to EUR / worker coutry - M1EC to euro / worker coutry - MEC ad the euro / worker coutry - MENC. secod place is occupied by cluster 5 (C5 014 ). Belgium, Germay, Irelad, Frace, Austria, Filad, amely the Uited States ad Japa cotribute to establishig a average aual et wage for the four variables o average by about 8000 euro / worker coutry less tha i C4014; Spai ad Italy formed cluster (C 014 ); Aual et earigs are sigificat for two coutries, the average cluster justifyig third place; fourth cluster returs 3 (C3 014 ) coutries: Greece, Malta, Portugal ad Sloveia. Average aual et earig is about.3 times smaller tha the cluster C4014 for all variables icluded i the aalysis; lowest values of average earigs aual wage et (695 euro / worker the coutry SPNs, 8080 euro / worker the coutry M1EC, Euro / worker the coutry to MEC ad euro / worker the coutry MENC) correspod to all the first cluster (C1 014 ), as i 007. Figure 4. Evolutio of the variables SPNS, M1EC, MEC ad MENC by clusters i 014 Source: authors ow computatio Idustrija, Vol.44, No.4,

14 Uder a probability of 95% the results from Table 8 show that cofidece itervals limit values have the same sig (i this aalysis they are positive). Therefore, each average et aual salary ad variable cluster is statistically sigificat i 014. The results show that the global ecoomic ad fiacial crisis is the result of political strategies applied by coutries towards esurig sustaiable wages. 4. Coclusios Evolutio tred of the four variables (Sigle perso Without childre, 100% of average worker (AW) [SPNC] Oe-earer married couple, at 100% of AW, with two childre [M1EC] Two-earer married couple, oe at 100%, the other at 100% of AW, with two childre [MEC] Two-earer married couple, oe at 100%, the other at 100% of AW, with o childre - [MENC]) established ad image aalysis framework of the aual et earigs, maily to EU coutries. Comparig 014 to 007, sigificat chages were established i aual et earigs expressed by four variables. Cotext has revealed sigificat chages i the coutries belogig to clusters. Mutatios coutries betwee clusters i 014 compared to 007 are reported i relatio to the average values of the variables. Durig , Malta was facig sigificat chage i aual et earigs as a result of policies ad strategies. The result is implemeted by chagig the cluster of C1007 i C3014, which correspods to aual averages of et earigs, four variables, higher i 014 compared to 007. The cluster C1 compoets remai with all other coutries i 014 ad 007. Cluster completely chages its compositio i 014 compared to 007. Thus, Spai ad Italy climbed cluster C6007 (which raks 4 i 007) ad cluster compoets are C014 (3rd i 014). However, the average aual et salary fell i 014 compared to 007 for all four variables. Chage i the same directio is foud i Greece, Portugal ad Sloveia, the cluster C007. These coutries will get from cluster C (5th i 007) i cluster C3 (4th i 014). The situatio is slightly differet to the previous oe i the sese that, for all four variables will register average aual wage icreases i et earigs i 014 compared to 007. The Netherlads ad Uited Kigdom are two EU coutries which by policy adopted i 014 fail to be icluded i the same cluster C4 as i 007. This is evideced by the mea aual et earigs very high both i 007 ad i 014. I 014, the compositio of the cluster 4 is completed by two coutries (Demark ad Swede). I 007, these two coutries were i C5 ad the average aual et salary was lower tha the curret cluster C Idustrija, Vol.44, No.4, 016

15 Icelad, o EU coutry, i C3007 (1st i 007) reached C4014 i the cluster occupyig first place but all i 014. Eve though the cluster ad place it occupied durig the aalysis does ot chage this for coutry, however, oe small chage is sigalled. This chage occurs regardig the average aual et salary ad it was reduced slightly i 014 compared to 007. Germay, Irelad ad Frace are the coutries i C5 007 cluster that will be icluded i the cluster with the same umber i 014. The compositio of C5014 cluster will iclude, alog with the three metioed ad EU coutries: Belgium, Austria ad Filad, amely the Uited States ad Japa, o EU Coutries, from C6007. Although i 014 compared to 007, the umber was chaged so hierarchical cluster ad place (4th i 007, i 014), however, mea aual et earigs are pretty close. This ca highlight the efforts of the coutries icluded i the aalysis towards esurig sustaiable wages. Socio-ecoomic implicatios of aual et earigs determied a direct ad idirect impact o sustaiable ecoomic developmet i EU coutries. The impact causes the growth processes sigalled strogly i the cotext of sustaiability evet of fiacial resources, both at the EU level ad globally. Refereces Chivu, L., Ciutacu, C., & Hurley, J. (007). Icomes ad Workig Time-Support for Quality of Work ad Employmet i Romaia. Romaia Joural of Ecoomics, (34), Ciutacu, C., & Chivu, L. (007). Calitatea mucii şi a ocupării forţei de mucă î Româia. Natioal Istitute of Ecoomic Research.Europea surveys o workig coditios.europea Foudatio for the Improvemet of Livig ad Workig Coditios. Retrieved from ef0737ro.pdf 016 May 1. Colligo, S. (016). Wage Imbalaces i the Europea Labour Market. Europe i Crisis: A Structural Aalysis. Palgrave Macmilla. Dora, J., & Figleto, B. (016). Employmet resiliece i Europe ad the 008 ecoomic crisis: Isights from micro-level data. Regioal Studies, 50(4), EUROSTAT. (016). Aual et earigs. ear_t_et. Retrieved from Jul 5. -EUROSTAT. (016).. ear_et_esms. Retrieved from Jul 5. Gelder, A. (014). From Custer to Thermopylae: Last stad behavior i multi-stage cotests. Games ad Ecoomic Behavior, 87(100), Idustrija, Vol.44, No.4,

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