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Do Economic Reforms Alleviate Subjective Well-Being Losses of Economic Crises?

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  • Christian Bjørnskov

Abstract

Major economic crises tend to be followed by crises in subjective well-being. Following the financial and debt crises, politicians and social scientists have engaged in heated discussions of ways to alleviate such losses. In particular, should governments intervene more or less? This paper explores whether liberalizing economic institutions, a type of reform favoured by some economists, is likely to alleviate such loses. Estimating the effects of crises across European states 1975–2011 suggest that countries with relatively easy market regulations suffered smaller well-being losses. Copyright Springer Science+Business Media Dordrecht 2014

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  • Christian Bjørnskov, 2014. "Do Economic Reforms Alleviate Subjective Well-Being Losses of Economic Crises?," Journal of Happiness Studies, Springer, vol. 15(1), pages 163-182, February.
    • Handle: RePEc:spr:jhappi:v:15:y:2014:i:1:p:163-182
    DOI: 10.1007/s10902-013-9442-y
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    3. Jehane Simona-Moussa & Laura Ravazzini, 2019. "From One Recession to Another: Longitudinal Impacts on the Quality of Life of Vulnerable Groups," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 142(3), pages 1129-1152, April.
    4. Isabel Neira & Maricruz Lacalle-Calderon & Marta Portela & Manuel Perez-Trujillo, 2019. "Social Capital Dimensions and Subjective Well-Being: A Quantile Approach," Journal of Happiness Studies, Springer, vol. 20(8), pages 2551-2579, December.
    5. Jacob Gerner Hariri & Christian Bjørnskov & Mogens K. Justesen, 2016. "Economic Shocks and Subjective Well-Being: Evidence from a Quasi-Experiment," The World Bank Economic Review, World Bank, vol. 30(1), pages 55-77.
    6. Burns, Justine & Keswell, Malcolm, 2015. "Diversity and the provision of public goods: Experimental evidence from South Africa," Journal of Economic Behavior & Organization, Elsevier, vol. 118(C), pages 110-122.
    7. Nazim Habibov & Elvin Afandi, 2015. "Pre- and Post-crisis Life-Satisfaction and Social Trust in Transitional Countries: An Initial Assessment," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 121(2), pages 503-524, April.
    8. Botezat, Alina, 2017. "Austerity plan announcements and the impact on the employees’ wellbeing," Journal of Economic Psychology, Elsevier, vol. 63(C), pages 1-16.
    9. Amanina Abdur Rahman & Ruut Veenhoven, 2018. "Freedom and Happiness in Nations: A Research Synthesis," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 13(2), pages 435-456, June.
    10. Sujarwoto Sujarwoto & Gindo Tampubolon & Adi Cilik Pierewan, 2018. "Individual and Contextual Factors of Happiness and Life Satisfaction in a Low Middle Income Country," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 13(4), pages 927-945, December.
    11. Gregor Gonza & Anže Burger, 2017. "Subjective Well-Being During the 2008 Economic Crisis: Identification of Mediating and Moderating Factors," Journal of Happiness Studies, Springer, vol. 18(6), pages 1763-1797, December.

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