| Abstract: |
The present study uses benefit recipiency data and three dimensions of welfare
transfers, namely, transfer share, low-income targeting, and universalism, to
clarify the more detailed effects of social policies on subjective well-being
and well-being inequality. This analysis utilizes benefit recipiency data from
the Luxembourg Income Study Database, pooled data from the World Values Survey
from 1981 to 2022, and a two-way fixed-effects model to explore the effects of
these three dimensions of welfare transfers on life satisfaction and of the
cross-level interactions of the welfare transfer variables and household
income on life satisfaction. The results of this study indicate that (1)
transfer share is positively associated with life satisfaction and (2)
low-income targeting shortens the well-being inequality stemming from income
but at the cost of life satisfaction among rich individuals. |