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Requiem for a Dream : Perceived Economic Conditions and Subjective Well-Being in Times of Prosperity and Economic Crisis

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2020

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Fernandez-Urbano, Roger

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Social Indicators Research. Springer. 2020, 151(3), pp. 793-813. ISSN 0303-8300. eISSN 1573-0921. Available under: doi: 10.1007/s11205-020-02404-w

Zusammenfassung

Using the Panel of Social Inequalities in Catalonia, Spain (PaD 2001–2012), this article investigates the relationship between perceptions of economic conditions and subjective well-being in times of prosperity and economic crisis. It also analyses how this relationship plays out across different social backgrounds. Periods of economic crisis and prosperity serve as a proxy for objective macroeconomic conditions. The Spanish region of Catalonia is a relevant setting because it faced one of the highest increases in inequality and unemployment in Europe as a result of the 2008 Economic Crisis. Our results show that perceived economic conditions matter beyond objective micro and macroeconomic realm and become a strong determinant of subjective well-being during a crisis, particularly for the middle class. However, contrary to our initial expectations, our results also show the existence of a close correlation between perceptions of economic conditions and subjective well-being for low social background individuals in times of economic prosperity, and an even stronger relationship in times of economic crisis. The article stipulates several potential explanations for these results.

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ISO 690FERNANDEZ-URBANO, Roger, Nevena KULIC, 2020. Requiem for a Dream : Perceived Economic Conditions and Subjective Well-Being in Times of Prosperity and Economic Crisis. In: Social Indicators Research. Springer. 2020, 151(3), pp. 793-813. ISSN 0303-8300. eISSN 1573-0921. Available under: doi: 10.1007/s11205-020-02404-w
BibTex
@article{FernandezUrbano2020-10Requi-50397,
  year={2020},
  doi={10.1007/s11205-020-02404-w},
  title={Requiem for a Dream : Perceived Economic Conditions and Subjective Well-Being in Times of Prosperity and Economic Crisis},
  number={3},
  volume={151},
  issn={0303-8300},
  journal={Social Indicators Research},
  pages={793--813},
  author={Fernandez-Urbano, Roger and Kulic, Nevena}
}
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