Sustainable Wages and Need for Convergence in EU-28 Countries

  • Jean Andrei Petroleum-Gas University of Ploiesti
  • Zaharia Marian Petroleum-Gas University of Ploiesti
  • Gogonea Rodica Manuela Bucharest University of Economic Studies
  • Petrache Dan Cosmin Bucharest University of Economic Studies
  • Zaharia Radu Valahia University of Targoviste
Keywords: Annual net earnings, Convergence, Cluster analysis, Productivity, Economics, Wages,

Abstract


In context of recent transformation of the EU economic and social model, assuring sustainable wages for workers represents a great challenge. The effects of economic crisis have imposed numerous shifts in productivity frontier and labor productivity. Despite the fact that the wage`s level have been improved recently, the need for adjustments is still more actual. The main aim of this paper is to analyze if the wage level is sustainable and it assures a proper living standard in accordance to EU-28 economic and social model. In addition, a model of wages evolution is described.


Author Biographies

Zaharia Marian, Petroleum-Gas University of Ploiesti
PhD Full professor
Gogonea Rodica Manuela, Bucharest University of Economic Studies
PhD Assoc.prof

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Published
2017/02/20
Section
Original Scientific Paper