Subjective economic well-being in Eastern Europe
AbstractThis paper analyses subjective economic well-being in several Eastern European countries from 1991 to 1995. Economic well-being explains a significant part of the variation in overall life satisfaction of Eastern Europeans. In an ordered logit model, the determinants of subjective economic well-being are analysed. Some results are very similar to typical findings in happiness regressions, such as a negative but u-shaped age effect, positive influences of education and relative income position, as well as a negative effect of unemployment. Differing results were found with regard to gender and marital status. Finally, comparing indicators of objective and subjective well-being on a macro level indicates that using a standard macro variable for cross-country comparisons in well-being, such as real GDP per capita, may provide misleading results during the early stages of transformation.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Psychology.
Volume (Year): 24 (2003)
Issue (Month): 3 (June)
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Web page: http://www.elsevier.com/locate/joep
Other versions of this item:
- Hayo, Bernd & Seifert, Wolfgang, 2002. "Subjective economic well-being in Eastern Europe," IBES Diskussionsbeiträge 120, University of Duisburg-Essen, Faculty for Economics and Business Administration.
- Bernd Hayo & Wolfgang Seifert, 2002. "Subjective Economic Well-Being in Eastern Europe," Development and Comp Systems 0203001, EconWPA.
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D60 - Microeconomics - - Welfare Economics - - - General
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- P2 - Economic Systems - - Socialist Systems and Transition Economies
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