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Economic Characteristics and Subjective Well-Being

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  • Želinský, Tomáš
  • Soroková, Tatiana
  • Petríková, Daniela

Abstract

The primary objective of this study is to examine the relationship between economic characteristics and well-being as one of the components of quality of life. The study is based on microdata obtained from a representative EU-SILC 2013 survey covering the Slovak population age 16 and older. Subjective wellbeing is proxied by a score reflecting the general mood or affect, including depression, anxiety, and psychologic well-being. The estimated mean value of the total subjective wellbeing score is 70 (median: 73). The results presented in this study suggest that economic factors are strongly correlated with the level of subjective well-being. The findings propose positive and diminishing returns to income; unemployed people score on average approximately 9 points lower than those who are employed; people living in indebted households have a lower level of subjective well-being than those living in households without debts; and the ability to face unexpected financial expenses increases the level of well-being.

Suggested Citation

  • Želinský, Tomáš & Soroková, Tatiana & Petríková, Daniela, 2018. "Economic Characteristics and Subjective Well-Being," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 50(3), pages 334-364.
    • Handle: RePEc:zbw:espost:261335
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    Cited by:

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    4. Betkó János & Spierings Niels & Gesthuizen Maurice & Scheepers Peer, 2022. "How Welfare Policies Can Change Trust – A Social Experiment Assessing the Impact of Social Assistance Policy on Political and Social Trust," Basic Income Studies, De Gruyter, vol. 17(2), pages 155-187, December.

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    More about this item

    Keywords

    Well-Being; EU-SILC; economic characteristics; Slovakia;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General

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