Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/40939
Authors: 
Hayo, Bernd
Seifert, Wolfgang
Year of Publication: 
2002
Series/Report no.: 
Diskussionsbeiträge aus dem Fachbereich Wirtschaftswissenschaften, Universität - Gesamthochschule - Essen 120
Abstract: 
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 crosscountry comparisons in well-being, such as real GDP per capita, may provide misleading results during the early stages of transformation.
Subjects: 
Eastern Europe
economic well-being
happiness
economic transformation
JEL: 
D31
D60
I31
O52
P2
Document Type: 
Working Paper

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