Satisfaction with Job and Income Among Older Individuals Across European Countries |
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Authors: | Eric Bonsang Arthur van Soest |
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Institution: | (1) ROA, Maastricht University, Netspar, Meteor, Maastricht, The Netherlands;(2) Netspar, Tilburg University, RAND, Tilburg, The Netherlands |
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Abstract: | Using data on individuals of age 50 and older from 11 European countries, we analyze two economic aspects of subjective well-being
of older Europeans: satisfaction with household income, and job satisfaction. Both have been shown to contribute substantially
to overall well-being (satisfaction with life or happiness). We use anchoring vignettes to correct for potential differences
in response scales across countries. The results highlight a large variation in self-reported income satisfaction, which is
partly explained by differences in response scales. When differences in response scales are eliminated, the cross-country
differences are quite well in line with differences in an objective measure of purchasing power of household income. There
are common features in the response scale differences in job satisfaction and income satisfaction. French respondents tend
to be critical in both assessments, while Danish and Dutch respondents are always on the optimistic end of the spectrum. Moreover,
correcting for response scale differences decreases the cross-country association between satisfaction with income and job
satisfaction among workers. |
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Keywords: | |
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