Life Satisfaction and Inequality in Slovakia

The Role of Income, Consumption and Wealth

Dados Bibliográficos

ID2064754
AutoresBiswajit Banerjee (0000-0002-5852-5710, National Bank of Slovakia), Peter Tóth (0000-0002-5010-9456, National Bank of Slovakia)
Ano2025
Volume177
Fascículo1
Páginas93-126
Data de publicação2025-03-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoSocial Indicators Research (JOURNAL)
Identificadores do periódicoISSN: 0303-8300 • E-ISSN: 1573-0921
EditoraSpringer Science and Business Media LLC (PUBLISHER)
DOI10.1007/s11205-024-03491-9
OpenAlexW4406107906
IdiomaEN
Citações recebidas5
Referências citadas50

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