Research Article

Workforce Participation, Ageing, and Economic Welfare: New Empirical Evidence on Complex Patterns across the European Union

Table 2

Wald test results for the SEM models, EU–27, 1995–2018.

EU–1 panelEU–2 panelEU–3 panelEU–4 panel

VariablesChi2df valueChi2df valueChi2df valueChi2df value
Log_ER_55_64368.6560.00080.9360.000138.2160.000551.3960.000
Log_LP1.1510.28400.2110.649318.4610.0006.3110.0120
Log_GDP_C544.8340.0003981.6640.0001169.8840.00083.3540.000
Log_POV_R_658.0310.00460.2010.050863.7310.00024.8610.000

H0: All coefficients excluding the intercept are 0. We can thus reject the null hypothesis for each equation, with limitation on LP. Source: authors’ process.