Economic Characteristics and Subjective Well-Being

Tomas Zelinsky, Tatiana Soroková and Daniela Petríková

EconStor Open Access Articles and Book Chapters, 2018, vol. 50, issue 3, 334-364

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.

Keywords: Well-Being; EU-SILC; economic characteristics; Slovakia (search for similar items in EconPapers)
JEL-codes: I30 I31 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Economic Characteristics and Subjective Well-Being (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:261335

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