Life Satisfaction and Inequality in Slovakia
The Role of Income, Consumption and Wealth
Bibliographic Data
| ID | 2064754 |
|---|---|
| Authors | Biswajit Banerjee (0000-0002-5852-5710, National Bank of Slovakia), Peter Tóth (0000-0002-5010-9456, National Bank of Slovakia) |
| Year | 2025 |
| Volume | 177 |
| Issue | 1 |
| Pages | 93-126 |
| Publication date | 2025-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Social Indicators Research (JOURNAL) |
| Journal identifiers | ISSN: 0303-8300 • E-ISSN: 1573-0921 |
| Publisher | Springer Science and Business Media LLC (PUBLISHER) |
| DOI | 10.1007/s11205-024-03491-9 |
| OpenAlex | W4406107906 |
| Language | EN |
| Citations received | 5 |
| References cited | 50 |
In recent years, a small number of studies have emphasized that subjective well-being of individuals depends not only on income but also consumption and wealth. However, only a few have examined the influence of all three variables simultaneously. Empirical studies have also analyzed the role of self-centered and community-centered inequalities but the inclusion of both measures in the same specification is scarce. In a departure from much of the existing literature, this paper analyzes concurrently the influence of all three economic well-being indicators and both types of inequalities on subjective well-being. We find that absolute levels of income, consumption and wealth all have a significant positive effect that remains robust even after the inclusion of self-centered and community-centered inequalities in the regression equations. The evidence indicates that both types of inequalities are important considerations for subjective well-being, but with different influences. Self-centered inequality measured using reference group average has a positive signaling effect, while inequality defined by the position of an individual within the distribution of the relevant economic well-being indicator has a negative comparison effect. Whereas community-centered inequality in income has a positive signaling effect, consumption and wealth inequalities have a negative comparison effect
Consumption (sociology · Demographic economics · Distribution (mathematics · Econometrics · Economic geography · Economic inequality · Economics · Empirical research · Happiness · Human geography · Income distribution · Income inequality metrics · Inequality · Life satisfaction · Position (finance · Public health · Quality of Life Research · Sociology · Statistics · Subjective well-being · Well-being · Health disparities and outcomes · Mathematics · Psychological and Temporal Perspectives Research · Psychological Well-being and Life Satisfaction · Psychology · Social Psychology
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| Unique citing works | 5 |
|---|---|
| Citations per year | 5 |
| Citation span | 2025 - 2026 (2) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 5 |