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Satisfaction with job and income among older individuals across European countries

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  • Bonsang Eric
  • Soest Arthur van

    (ROA rm)

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.

Suggested Citation

  • Bonsang Eric & Soest Arthur van, 2010. "Satisfaction with job and income among older individuals across European countries," ROA Research Memorandum 011, Maastricht University, Research Centre for Education and the Labour Market (ROA).
  • Handle: RePEc:unm:umaror:2010011
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    1. repec:eme:ijmpps:ijm-02-2016-0041 is not listed on IDEAS
    2. Martina Celidoni & Vincenzo Rebba, 2015. "Healthier lifestyles after retirement in Europe? Evidence from SHARE," "Marco Fanno" Working Papers 0201, Dipartimento di Scienze Economiche "Marco Fanno".
    3. Stavros, Drakopoulos, 2018. "Pay Level Comparisons in Job Satisfaction Research and Mainstream Economic Methodology," MPRA Paper 87711, University Library of Munich, Germany.
    4. Andrew E. Clark, 2011. "The Organisational Commitment of Workers in OECD Countries," management revue. Socio-economic Studies, Rainer Hampp Verlag, vol. 22(1), pages 8-27.
    5. repec:spr:eujhec:v:18:y:2017:i:7:d:10.1007_s10198-016-0828-8 is not listed on IDEAS
    6. Arie Kapteyn & James P. Smith & Arthur Van Soest, 2013. "Are A mericans Really Less Happy with Their Incomes?," Review of Income and Wealth, International Association for Research in Income and Wealth, pages 44-65.
    7. Romina Gambacorta & Maria Iannario, 2013. "Measuring Job Satisfaction with CUB Models," LABOUR, CEIS, vol. 27(2), pages 198-224, June.
    8. Drakopoulos, Stavros A. & Grimani, Katerina, 2015. "The Effect of Pay Cuts on Psychological Well-Being and Job Satisfaction," MPRA Paper 61195, University Library of Munich, Germany.
    9. Bertoni, Marco, 2015. "Hungry today, unhappy tomorrow? Childhood hunger and subjective wellbeing later in life," Journal of Health Economics, Elsevier, vol. 40(C), pages 40-53.
    10. Nicolas Sirven & Thomas Barnay, 2017. "Expectations, loss aversion and retirement decisions in the context of the 2009 crisis in Europe," International Journal of Manpower, Emerald Group Publishing, vol. 38(1), pages 25-44, April.
    11. 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).

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