1. bookVolume 46 (2020): Issue 3 (November 2020)
Journal Details
License
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Journal
First Published
16 Apr 2016
Publication timeframe
3 times per year
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English
access type Open Access

Debt and Subjective Well-Being: Does the Type of Debt Matter?

Published Online: 26 Nov 2020
Page range: 445 - 465
Journal Details
License
Format
Journal
First Published
16 Apr 2016
Publication timeframe
3 times per year
Languages
English

Based on longitudinal analyses of data from the Swiss Household Panel, this paper investigates the effect of different types of debt on two evaluative measures of subjective well-being: financial satisfaction and life satisfaction. Payment arrears reduce financial satisfaction more than loans or the accumulation of different types of debt (arrears and loans). This negative effect is stable over time. Conversely, each additional year with arrears decreases life satisfaction, confirming the overall and general negative effect of arrears on all domains of daily life, especially for the elderly.

Keywords

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