Well-Being over the Life Span: Semiparametric Evidence from British and German Longitudinal Data
AbstractThis paper applies semiparametric regression models using penalized splines to investigate the profile of well-being over the life span. Using data from the British Household Panel Survey (BHPS) and the German Socio-Economic Panel Study (SOEP), the analysis shows a common, and quite similar, age-specific pattern of life satisfaction for both Britain and Germany that can be characterized by three age stages. The evidence suggests that the U-shaped profile is a good approximation of decreasing and increasing well-being in the first and second stage. After people reached their late 60s, however, a decline in well-being is found in the third stage. © 2013 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics and Statistics.
Volume (Year): 95 (2013)
Issue (Month): 1 (March)
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Web page: http://mitpress.mit.edu/journals/
Find related papers by JEL classification:
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- D10 - Microeconomics - - Household Behavior - - - General
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
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- FitzRoy, Felix & Nolan, Michael A. & Steinhardt, Max & Ulph, David, 2013.
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