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Satisfaction with Job and Income Among Older Individuals Across European Countries

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  • Eric Bonsang

    ()

  • Arthur Soest

    ()

Abstract

Using data on individuals of age 50 and older from 11 European countries, we analyzetwo economic aspects of subjective well-being of older Europeans: satisfaction withhousehold income, and job satisfaction. Both have been shown to contribute substantiallyto overall well-being (satisfaction with life or happiness). We use anchoring vignettes tocorrect for potential differences in response scales across countries.The results highlight a large variation in self-reported income satisfaction, which ispartly explained by differences in response scales. When differences in response scalesare eliminated, the cross country differences are quite well in line with differences inan objective measure of purchasing power of household income. There are commonfeatures in the response scale differences in job satisfaction and income satisfaction.French respondents tend to be critical in both assessments, while Danish and Dutchrespondents are always on the optimistic end of the spectrum. Moreover, correcting forresponse scale differences decreases the cross-country association between satisfactionwith income and job satisfaction among workers.

(This abstract was borrowed from another version of this item.)

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File URL: http://hdl.handle.net/10.1007/s11205-011-9879-5
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Bibliographic Info

Article provided by Springer in its journal Social Indicators Research.

Volume (Year): 105 (2012)
Issue (Month): 2 (January)
Pages: 227-254

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Handle: RePEc:spr:soinre:v:105:y:2012:i:2:p:227-254

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Web page: http://www.springer.com/economics/journal/11135

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Related research

Keywords: Anchoring vignettes; Response scale differences; Ageing;

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References

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  1. Richard B. Freeman, 1977. "Job Satisfaction as an Economic Variable," NBER Working Papers 0225, National Bureau of Economic Research, Inc.
  2. Andrew Clark & Yannis Georgellis & Peter Sanfey, 1997. "Job Satisfaction, Wage Changes and Quits: Evidence from Germany," Studies in Economics 9711, Department of Economics, University of Kent.
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  8. Teresa Bago d'Uva & Eddy van Doorslaer & Maarten Lindeboom & Owen O'Donnell & Somnath Chatterji, 2006. "Does Reporting Heterogeneity bias the Measurement of Health Disparities?," Tinbergen Institute Discussion Papers 06-033/3, Tinbergen Institute.
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  11. Drakopoulos, S. A. & Theodossiou, I., 1997. "Job satisfaction and target earnings," Journal of Economic Psychology, Elsevier, vol. 18(6), pages 693-704, November.
  12. van Soest, Arthur & Delaney, Liam & Harmon, Colm P. & Kapteyn, Arie & Smith, James P., 2007. "Validating the Use of Vignettes for Subjective Threshold Scales," IZA Discussion Papers 2860, Institute for the Study of Labor (IZA).
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  16. Sousa-Poza, Alfonso & Sousa-Poza, Andres A., 2000. "Well-being at work: a cross-national analysis of the levels and determinants of job satisfaction," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 29(6), pages 517-538, November.
  17. Wadensjö, Eskil, 2006. "Part-Time Pensions and Part-Time Work in Sweden," IZA Discussion Papers 2273, Institute for the Study of Labor (IZA).
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  19. Karl Kosloski & David Ekerdt & Stanley DeViney, 2001. "The Role of Job-Related Rewards in Retirement Planning," Journals of Gerontology: Series B, Gerontological Society of America, vol. 56(3), pages P160-P169.
  20. Ada Ferrer-i-Carbonell & Bernard M. S. van Praag, 2001. "The Subjective Costs of Health Losses Due to Chronic Diseases: An Alternative Model for Monetary Appraisal," Discussion Papers of DIW Berlin 262, DIW Berlin, German Institute for Economic Research.
  21. Peggy Schyns, 2002. "Wealth Of Nations, Individual Income andLife Satisfaction in 42 Countries:A Multilevel Approach," Social Indicators Research, Springer, vol. 60(1), pages 5-40, December.
  22. Daniel S. Hamermesh, 1999. "The Changing Distribution of Job Satisfaction," NBER Working Papers 7332, National Bureau of Economic Research, Inc.
  23. Skalli, Ali & Theodossiou, Ioannis & Vasileiou, Efi, 2008. "Jobs as Lancaster goods: Facets of job satisfaction and overall job satisfaction," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(5), pages 1906-1920, October.
  24. Chang-ming Hsieh, 2004. "Income and Financial Satisfaction among Older Adults in the United States," Social Indicators Research, Springer, vol. 66(3), pages 249-266, May.
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Cited by:
  1. repec:hal:wpaper:halshs-00565205 is not listed on IDEAS
  2. Bert Van Landeghem, 2012. "Panel Conditioning and Self-Reported Satisfaction: Evidence from International Panel Data and Repeated Cross-Sections," SOEPpapers on Multidisciplinary Panel Data Research 484, DIW Berlin, The German Socio-Economic Panel (SOEP).
  3. repec:cge:warwcg:93 is not listed on IDEAS

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