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Perception of Income Satisfaction: An Analysis of Slovenian Households

  • Tine Stanovnik

    (University of Ljubljana & Institute for Economic Research Ljubljana)

  • Miroslav Verbic

    (Institute for Economic Research Ljubljana)

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
Date of revision:
Handle: RePEc:wpa:wuwphe:0408003
Note: Type of Document - pdf; pages: 15
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  9. Kapteyn, Arie, 1994. "The Measurement of Household Cost Functions: Revealed Preference versus Subjective Measures," Journal of Population Economics, Springer, vol. 7(4), pages 333-50, November.
  10. Garner, Thesia I & de Vos, Klaas, 1995. "Income Sufficiency v. Poverty: Results from the United States and the Netherlands," Journal of Population Economics, Springer, vol. 8(2), pages 117-34, May.
  11. Kilpatrick, Robert W, 1973. "The Income Elasticity of the Poverty Line," The Review of Economics and Statistics, MIT Press, vol. 55(3), pages 327-32, August.
  12. Arie Kapteyn & Peter Kooreman & Rob Willemse, 1988. "Some Methodological Issues in the Implementation of Subjective Poverty Definitions," Journal of Human Resources, University of Wisconsin Press, vol. 23(2), pages 222-242.
  13. McBride, Michael, 2001. "Relative-income effects on subjective well-being in the cross-section," Journal of Economic Behavior & Organization, Elsevier, vol. 45(3), pages 251-278, July.
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