Family, money, and health: regional differences in the determinants of life cycle life satisfaction
AbstractWe examine how family, money, and health explain variation in life satisfaction (“happiness”) over the life cycle. Globally, these factors explain a substantial fraction of happiness, increasing from 12 percent in young adulthood to 15 percent in mature adulthood. Health is the most important factor, and its importance increases with age. Income is important only at ages below 50. Remarkably, the contribution of family is small across ages. Across regions health is most important in the wealthier, and income in the poorer regions of the world. Family explains a substantial fraction of happiness only in Western Europe and Anglophone countries.
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Bibliographic InfoPaper provided by Max Planck Institute for Demographic Research, Rostock, Germany in its series MPIDR Working Papers with number WP-2012-012.
Length: 29 pages
Date of creation: Feb 2012
Date of revision:
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Web page: http://www.demogr.mpg.de/
World; family; health; income; mental health;
Find related papers by JEL classification:
- J1 - Labor and Demographic Economics - - Demographic Economics
- Z0 - Other Special Topics - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-02-27 (All new papers)
- NEP-HAP-2012-02-27 (Economics of Happiness)
- NEP-HEA-2012-02-27 (Health Economics)
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