NDLI: Self-Reported Satisfaction and the Economic Crisis of 2007–2010: Or How People in the UK and Germany Perceive a Severe Cyclical Downturn

Content Provider	Springer Nature Link
Author	Mertens, Antje Beblo, Miriam
Copyright Year	2015
Abstract	Self-reported satisfaction measures respond to a great variety of socio-demographic characteristics as well as the job and living environment. In this paper we ask whether the recent financial market crisis has caused a deterioration of satisfaction not only for the unemployed but also for those out of the labour force and especially those in employment. The focus of our analyses is on the pattern of life, job and health satisfaction over time and the influence of unemployment rates, inflation rates and GDP growth. We compare the UK and Germany, two countries with different employment protection regulations and different consequences of the crisis for the labour market. For our analysis we use data from the German Socio-Economic Panel and the British Household Panel Study for the period 1996–2010 and supplement this with annual information on macroeconomic indicators. We estimate Ordered Logit and OLS models, both with individual fixed effects. We find some limited psychological costs with respect to self-reported life satisfaction in the crisis years, and a considerable impact of regional and national unemployment rates. Looking at job and health satisfaction we get similar though somewhat weaker results.
Starting Page	537
Ending Page	565
Page Count	29
File Format	PDF
ISSN	03038300
Journal	Social Indicators Research
Volume Number	125
Issue Number	2
e-ISSN	15730921
Language	English
Publisher	Springer Netherlands
Publisher Date	2015-01-15
Publisher Place	Dordrecht
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Happiness Life satisfaction Subjective well-being Business cycles Crisis Sociology Quality of Life Research Microeconomics Public Health Human Geography
Content Type	Text
Resource Type	Article
Subject	Sociology and Political Science Arts and Humanities Developmental and Educational Psychology

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