Study on the Relationship between Residents' Income and Subjective Well-being (SWB) in Chinese Context

Abstract

In recent years, the economic research on SWB has developed rapidly. A large number of academic achievements have emerged to explore the influencing factors of SWB. In view of this, this study has collated and reviewed the domestic and foreign literature on the relationship between income and SWB, and then summarized and commented on the impact of absolute income, relative income and income gap on SWB. The research results show that: in the context of China, absolute income and relative income have a positive impact on residents' Well-being in general, and income gap reduces residents' Well-being; Compared with absolute income, relative income exerts a greater impact on SWB; Compared with high-income groups, absolute income and relative income demonstrate a greater influence on the SWB of low-income groups. On this basis, this study has put forward specific policy proposals.