The Impact of Minimum Wages on Consumption in EU Countries

aef398e5-89ee-4a73-9cde-138fd675957c20240627070600444wseas:wseasmdt@crossref.orgMDT DepositWSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS2224-28991109-952610.37394/23207http://wseas.org/wseas/cms.action?id=40161320241320242110.37394/23207.2024.21https://wseas.com/journals/bae/2024.phpThe Impact of Minimum Wages on Consumption in EU CountriesNatáliaVárošováFaculty of Business and Economics, Department of Statistics and Operation Analysis, Mendel University in Brno, Zemědělská 1, 613 00 Brno, CZECH REPUBLICLenkaViskotováFaculty of Business and Economics, Department of Statistics and Operation Analysis, Mendel University in Brno, Zemědělská 1, 613 00 Brno, CZECH REPUBLICDavidHampelFaculty of Business and Economics, Department of Statistics and Operation Analysis, Mendel University in Brno, Zemědělská 1, 613 00 Brno, CZECH REPUBLICIn this paper, we investigate the significance of the relationship between minimum wages and consumption in EU countries between 1999 and 2021 using panel regression and cluster analysis. 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