Student Type

Undergraduate

College Affiliation

Plaster College of Business and Entrepreneurship

Department

Business Analytics

Submission Type

Poster

Abstract

This research was done to look and see how the cost-of-living index was affected during the pandemic. We took data on thirty-seven different countries that are members of the Organization for Economic Co-operation and Development (OECD), to ensure we could get as much data on these counties as possible. The cost-of-living index is a compilation of things that affect individuals' budgets on the daily. This includes childcare costs, healthcare costs, food and nonalcoholic beverages, housing costs, and transportation. By using a Mann-Whitney U test to compare each variable's pre pandemic (2017-2019) data to the post pandemic (2020-2021) data we were able to see if the cost of living increased during the pandemic, and if so, did average wages increase as well. We chose to research this because it is a problem that we all deal with daily, and we thought it would provide practical knowledge for everyone.

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Business Commons

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The Cost-of-Living Index for OECD Countries Pre and Post Covid-19 Pandemic

This research was done to look and see how the cost-of-living index was affected during the pandemic. We took data on thirty-seven different countries that are members of the Organization for Economic Co-operation and Development (OECD), to ensure we could get as much data on these counties as possible. The cost-of-living index is a compilation of things that affect individuals' budgets on the daily. This includes childcare costs, healthcare costs, food and nonalcoholic beverages, housing costs, and transportation. By using a Mann-Whitney U test to compare each variable's pre pandemic (2017-2019) data to the post pandemic (2020-2021) data we were able to see if the cost of living increased during the pandemic, and if so, did average wages increase as well. We chose to research this because it is a problem that we all deal with daily, and we thought it would provide practical knowledge for everyone.

 

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