Visuomenės subjektyviosios gerovės ir pajamų sąveikos empirinė analizė (Europos Sąjungos šalių atvejo analizė)
An empirical analysis of interaction between society’s subjective well-being and income (a case study of European Union countries)

Summary/Abstract: The paper examines the impact of income on subjective well-being analysing the case of EU countries. The impact has been examined in both ways: micro level, taking into account the level of separate individuals and groups of individuals based on income deciles, and the macro level, taking into account the average level of subjective well-being, average level of income and inequality of income distribution. In this article, the controversy of the interpretation of the impact of income on the subjective well-being is presented. The main finding is that income does impact on the level of subjective well-being in both micro and macro levels of society. It also identifies the significance of the role of personality traits that are partially inherited and partially acquired. Those personality traits obscure the impact of income on the subjective wellbeing in the micro level when the level of a separate individual is taken into account. However, they do not play a significant role when the micro level is analysed in terms of individuals’ groups based on income deciles. That is because the personality traits in separate groups equalize. It is also identified that the more equally income is distributed within society the higher average level of subjective well-being it possesses.

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