Family money, relational life and (class) relative wealth:an empirical analysis on life satisfaction of secondary school students
AbstractWe investigate factors affecting happiness on a sample of Italian secondary school students. We find that money matters since familyÕs house ownership, mortgages and (class) relative wealth significantly affect life satisfaction. Other crucial factors are geographical residence (those living in Milan are significantly less happy), motherÕs occupation, trust on family and friendships. Even though we cannot rule out inverse causality and other forms of endogeneity, the characteristics of many of the significant regressors such as family wealth, parental job and geographical residence (not under the decisional power of the student)suggest a direct causality nexus for these factors.
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Bibliographic InfoPaper provided by Econometica in its series Econometica Working Papers with number wp35.
Date of creation: Feb 2012
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life satisfaction; secondary school; wealth;
Other versions of this item:
- Becchetti, Leonardo & Pisani, Fabio, 2012. "Family money, relational life and (class) relative wealth: an empirical analysis on life satisfaction of secondary school students," AICCON Working Papers 101-2012, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
- Leonardo Becchetti & Fabio Pisani, 2012. "Family Money, Relational Life and (Class) Relative Wealth: an Empirical Analysis on Life Satisfaction of Secondary School Students," CEIS Research Paper 223, Tor Vergata University, CEIS, revised 21 Feb 2012.
- I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare
- E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
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