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Perception of Income Satisfaction: An Analysis of Slovenian Households

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Author Info
Tine Stanovnik (University of Ljubljana & Institute for Economic Research Ljubljana)
Miroslav Verbic (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.

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Paper provided by EconWPA in its series HEW with number 0408003.

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Length: 15 pages
Date of creation: 11 Aug 2004
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Handle: RePEc:wpa:wuwphe:0408003

Note: Type of Document - pdf; pages: 15
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Related research
Keywords: economic well-being; income satisfaction; transition; Slovenia;

Find related papers by JEL classification:
D60 - Microeconomics - - Welfare Economics - - - General
I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare
P2 - Economic Systems - - Socialist Systems and Transition Economies

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