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Health, Wealth and Happiness: Why pursue a Higher Education?

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  • Joop Hartog

    ()

  • Hessel Oosterbeek

    ()
    (University of Amsterdam)

Abstract

We explore the effect of schooling on health, wealth and happiness for a cohort of Dutch individuals born around 1940. We also use observations on childhood IQ and family background. The most fortunate group is the group with a non-vocational intermediate level education: they score highest on health, wealth and happiness. We find that IQ affects health, but not wealth or happiness. Family background level increases wealth, but neither health nor happiness. With a father who worked independently, health, wealth and happiness are higher.Women are a miracle: compared to men, they are less wealthy, equally healthy but they are definitely happier.

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 97-034/3.

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Date of creation: 15 Mar 1997
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Handle: RePEc:dgr:uvatin:19970034

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  1. Andrew E. Clark and Andrew J. Oswald, . "Satisfaction and Comparison Income," Economics Discussion Papers 419, University of Essex, Department of Economics.
  2. Haveman, Robert & Wolfe, Barbara & Kreider, Brent & Stone, Mark, 1994. "Market work, wages, and men's health," Journal of Health Economics, Elsevier, vol. 13(2), pages 163-182, July.
  3. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-55, March-Apr.
  4. William G. Gale & John Karl Scholz, 1994. "Intergenerational Transfers and the Accumulation of Wealth," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 145-160, Fall.
  5. Oosterbeek, Hessel, 1990. "Education and earnings in the Netherlands: an empirical analysis," European Economic Review, Elsevier, vol. 34(7), pages 1353-1375, November.
  6. Kemna, Harrie J. M. I., 1987. "Working conditions and the relationship between schooling and health," Journal of Health Economics, Elsevier, vol. 6(3), pages 189-210, September.
  7. van Praag, Bernard M. S., 1991. "Ordinal and cardinal utility : An integration of the two dimensions of the welfare concept," Journal of Econometrics, Elsevier, vol. 50(1-2), pages 69-89, October.
  8. Deaton, A. & Paxson, C., 1993. "Intertemporal Choice and Inequality," Papers 168, Princeton, Woodrow Wilson School - Development Studies.
  9. Victor R. Fuchs, 1980. "Time Preference and Health: An Exploratory Study," NBER Working Papers 0539, National Bureau of Economic Research, Inc.
  10. Clark, Andrew E & Oswald, Andrew J, 1994. "Unhappiness and Unemployment," Economic Journal, Royal Economic Society, vol. 104(424), pages 648-59, May.
  11. Mark C. Berger & J. Paul Leigh, 1989. "Schooling, Self-Selection, and Health," Journal of Human Resources, University of Wisconsin Press, vol. 24(3), pages 433-455.
  12. Hartog, Joop & Oosterbeek, Hessel, 1993. "Public and private sector wages in the Netherlands," European Economic Review, Elsevier, vol. 37(1), pages 97-114, January.
  13. Robert H. Haveman & Barbara L. Wolfe, 1984. "Schooling and Economic Well-Being: The Role of Nonmarket Effects," Journal of Human Resources, University of Wisconsin Press, vol. 19(3), pages 377-407.
  14. David Card, 1994. "Earnings, Schooling, and Ability Revisited," NBER Working Papers 4832, National Bureau of Economic Research, Inc.
  15. Ruut Veenhoven, 1996. "Developments in satisfaction-research," Social Indicators Research, Springer, vol. 37(1), pages 1-46, January.
  16. Hartog, Joop & Pfann, Gerard & Ridder, Geert, 1989. "(Non-)graduation and the earnings function : An inquiry on self-selection," European Economic Review, Elsevier, vol. 33(7), pages 1373-1395, September.
  17. Groot, Wim & Oosterbeek, Hessel, 1994. "Earnings Effects of Different Components of Schooling: Human Capital versus Screening," The Review of Economics and Statistics, MIT Press, vol. 76(2), pages 317-21, May.
  18. Perri, Timothy J., 1984. "Health status and schooling decisions of young men," Economics of Education Review, Elsevier, vol. 3(3), pages 207-213, June.
  19. Jere R. Behrman & Barbara L. Wolfe, 1989. "Does More Schooling Make Women Better Nourished and Healthier? Adult Sibling Random and Fixed Effects Estimates for Nicaragua," Journal of Human Resources, University of Wisconsin Press, vol. 24(4), pages 644-663.
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