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Changes in Subjective Well-Being Over Time: Economic and Social Resources do Matter

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  • A. l. Moro-Egido

    (Universidad de Granada)

  • M. Navarro

    (Universidad de Granada)

  • A. Sánchez

    (Universidad de Granada)

Abstract

This article analyzes the main determinants of changes in subjective well-being over time in Germany distinguishing between long-term and short-term changes. Our findings for the long term indicate that social capital and values and cultural dimensions have the greatest capacity to predict changes in subjective well-being. Likewise, the correlation between economic resources and subjective well-being is weaker due to the small increase registered in household income and because people compare their income with those who are better off and feel envy. In the short term, economic resources have the highest capacity to predict both improvements (ups) and declines (downs) in subjective well-being. Finally, we also suggest that, whenever information is available, personality traits should be taken into account in the analysis of changes in subjective well-being over time in order to achieve more reliable estimates.

Suggested Citation

  • A. l. Moro-Egido & M. Navarro & A. Sánchez, 2022. "Changes in Subjective Well-Being Over Time: Economic and Social Resources do Matter," Journal of Happiness Studies, Springer, vol. 23(5), pages 2009-2038, June.
    • Handle: RePEc:spr:jhappi:v:23:y:2022:i:5:d:10.1007_s10902-021-00473-3
    DOI: 10.1007/s10902-021-00473-3
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    More about this item

    Keywords

    Changes in subjective well-being; Economic resources; Social resources; Psychological capital; Public policy;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D60 - Microeconomics - - Welfare Economics - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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