THE RELATIONSHIP BETWEEN AVERAGE TOTAL MONTHLY SALARY AND GDP/CAPITA - THE ANALISYS ON A PANEL DATA OF THE EU-27 COUNTRIES

Abstract

n this article, the econometric analysis of two models is performed. One analyses the evolution of GDP / capita over time for EU-27 member countries over a period of 21 years, and the second model is a panel-type one that analyses the correlation between real GDP per capita and the average gross monthly salary of EU-27 member countries in 2020.

Keywords

• econometric analysis
• data panel
• eviews
• least squares method
• eu27 countries