Relative Income and Wellbeing in Canada

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Elektronik Sosyal Bilimler Dergisi
Volume:24 Issue:1
Relative Income and Wellbeing in Canada

Relative Income and Wellbeing in Canada

Pages : 475-490

View : 16 | Download : 31

Publication Date : 2025-01-29

Article Type : Research Paper

Abstract :This study examines the impact of relative income on wellbeing in Canada, drawing on data from the seventh round of the World Values Survey. The analysis distinguishes between emerging adults (ages 18-25) and mature adults (ages 26-45), evaluating the effects of relative income while controlling for various demographic, socioeconomic, and subjective factors. The covariates include age, low/middle education, and marital status, number of children, employment status, immigrant status, rural residence, religiosity, physical health, financial troubles, scepticism, and happiness levels. The findings indicate that relative income significantly influences wellbeing for both males and females, even after accounting for these factors. Gender-specific differentiations are seen, particularly in the influence of education, marital status, and employment. The interaction analysis shows that the effect of relative income on wellbeing is consistent across different age cohorts. These results highlight the importance of relative income as a key determinant of wellbeing and suggest that policies aimed at reducing income inequality could enhance overall life satisfaction across diverse demographic groups.
Keywords : Göreceli Gelir, İyi Oluş, Kanada

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