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Subjective Economic Well-Being in Eastern Europe

  • Bernd Hayo

    (University of Essen)

  • Wolfgang Seifert

    (LDS, Düsseldorf)

This 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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File URL: http://econwpa.repec.org/eps/dev/papers/0203/0203001.pdf
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Paper provided by EconWPA in its series Development and Comp Systems with number 0203001.

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Length: 25 pages
Date of creation: 14 Mar 2002
Date of revision:
Handle: RePEc:wpa:wuwpdc:0203001
Note: Type of Document - ; prepared on IBM PC; pages: 25; figures: included
Contact details of provider: Web page: http://econwpa.repec.org

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  19. Ed Diener & Ed Sandvik & Larry Seidlitz & Marissa Diener, 1993. "The relationship between income and subjective well-being: Relative or absolute?," Social Indicators Research, Springer, vol. 28(3), pages 195-223, March.
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