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Hybrid Model for Unemployment Impact on Social Life
[journal article]
Abstract In this paper, we want to examine how unemployment impacts social life, and, by using datasets from six European countries, we analyze the effect of unemployment on two of the main aspects of social life: social exclusion and life satisfaction. First, we predict unemployment rates using the Auto Reg... view more
In this paper, we want to examine how unemployment impacts social life, and, by using datasets from six European countries, we analyze the effect of unemployment on two of the main aspects of social life: social exclusion and life satisfaction. First, we predict unemployment rates using the Auto Regressive Integrated Moving Average (ARIMA) model and the results are further used in a linear regression model alongside social exclusion and life satisfaction data, thus obtaining the hybrid model. With the help of the point prediction method, we use the hybrid model to predict new values for the two aspects of social life for the upcoming three years and we analyze the results obtained in order to better understand their interconnection. The results suggest that unemployment has particularly adverse effects on the subjective perception of life satisfaction, furthermore increasing the social exclusion percentage.... view less
Keywords
model; regression; unemployment; satisfaction with life; exclusion; social participation
Classification
General Sociology, Basic Research, General Concepts and History of Sociology, Sociological Theories
Social Problems
Free Keywords
EU-SILC; hybrid model; ARIMA model; linear regression model; social life; social exclusion
Document language
English
Publication Year
2021
Page/Pages
p. 1-18
Journal
Mathematics, 9 (2021) 18
DOI
https://doi.org/10.3390/math9182278
ISSN
2227-7390
Status
Published Version; peer reviewed