A Non-Parametric Approach to Some Macroeconomic Indicators: Evidence from the European Union

Abstract:

The presented paper deals with a non-parametric approach to some macroeconomic indicators among the Member States of the European Union. A set of macroeconomic indicators such as GDP per capita in PPS, the unemployment rate, the inflation rate, general government deficit/surplus as percentage of GDP and general government gross debt as percentage of GDP determine macroeconomic performance. The aim of the paper is to estimate possible associations between these variables. The Kendall´s coefficient of concordance was applied. The first part of the paper contains description of the methodology used. The second part presents empirical results. The evidence shows that macroeconomic performance differs among the Member States of the European Union in the years 2000 and 2010 largely and there were associations between chosen variables. However, these associations seem to be not strong.