Perception of Income Satisfaction: An Analysis of Slovenian Households

Tine Stanovnik and Miroslav Verbič ()
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Tine Stanovnik: University of Ljubljana & Institute for Economic Research Ljubljana

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Abstract: Three comparable cross-section household datasets, relating to 1988, 1993 and 1997-1999 are used to analyse income satisfaction in Slovenian households. The ordered probit model is used to estimate the effects of ‘objective’ variables, such as actual disposable household income and household size on the perceived (subjective) economic well-being of the household. Variables that tend to capture income aspirations are also included, such as variables describing the socioeconomic structure of the household (share of children, share of elderly persons) as well as a variable denoting household wealth (homeownership). The estimated effects of these variables are all of the expected sign. Though unemployment results mostly in high non-pecuniary costs, it also has a strong negative influence on subjective economic well-being. Our results are in fine agreement with similar - but quite rare - studies on subjective economic well-being in other countries in transition.

Keywords: economic well-being; income satisfaction; transition; Slovenia (search for similar items in EconPapers)
JEL-codes: D60 I31 P2 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm
Date: 2004-08-11
Note: Type of Document - pdf; pages: 15
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