All in the Family: How Do Social Capital and Material Wellbeing Affect Relational Wellbeing?

Abstract

We use a unique dataset from Italy to investigate the impact of socioeconomic characteristics and social capital on family wellbeing and satisfaction. We assess wellbeing using four dimensions of satisfaction with family life: satisfaction with decision making processes, with relationships with partner and children, and with time spent with children. Social capital is measured through information about membership in organizations, trust, and interactions with others. We find that while socioeconomic characteristics and equivalent income in general do not have an impact on family wellbeing, social capital matters for family life satisfaction.

Keywords: Subjective wellbeing, Relational satisfaction, Social capital.

JEL Classification: D19, I31, Z13.