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Socio-economic differences in the job satisfaction of high-paid and low-paid workers in Greece

Listed author(s):
  • Ioannis Theodosiou

    (University of Macedonia,Centre for European Labour Market Research (CELMR), University of Aberdeen Business School)

  • Konstantinos Pouliakas

    (Centre for European Labour Market Research (CELMR),University of Aberdeen Business School)

Using data from eight waves (1994-2001) of the European Community Household Panel (ECHP), this study examines whether significant differences exist in the perceived quality of high and low-paid jobs in Greece. After correcting for the potential selectivity problem that is prevalent in the study of the effect of low pay status on job satisfaction, evidence is presented that low wage workers are significantly less satisfied with their jobs compared to their higher-paid counterparts. Further analysis of the specific facets of jobs reveals that the lower average satisfaction of low-paid employees in Greece arises not only due to their lesser pay, but mainly because of the inferior type of work that they perform. Low-paid workers in Greece therefore seem to suffer from a double penalty, as their jobs are also of bad quality. In view of this segmentation, combined with the fact that Greece remains a low wage economy, it becomes evident that policies that centre on the quality of jobs are of equal importance to those that focus on the level of pay that they provide.

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Article provided by Bank of Greece in its journal Economic Bulletin.

Volume (Year): (2005)
Issue (Month): 24 (January)
Pages: 83-115

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Handle: RePEc:bog:econbl:y:2005:i:24:p:84-115
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  1. Sideris, Dimitrios, 2006. "Testing for long-run PPP in a system context: Evidence for the US, Germany and Japan," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 16(2), pages 143-154, April.
  2. van Praag, Bernard M. S., 1991. "Ordinal and cardinal utility : An integration of the two dimensions of the welfare concept," Journal of Econometrics, Elsevier, vol. 50(1-2), pages 69-89, October.
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