How Has the Crisis of 2008-2009 Affected Subjective Well-Being?
AbstractResults of life satisfaction regressions for more than 91,000 individuals are used to investigate how the macroeconomic crisis of 2008-2009 has affected subjective well-being (SWB) in 30 OECD countries. In a number of countries, the effect of the crisis on a representative person’s SWB is of a similar magnitude as the effects of the most important personal life events. Our findings highlight the importance of GDP fluctuations for SWB.
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Bibliographic InfoPaper provided by University of Oldenburg, Department of Economics in its series Working Papers with number V-330-11.
Length: 12 pages
Date of creation: Jan 2011
Date of revision: Jan 2011
Publication status: Published in Oldenburg Working Papers V-330-11
macroeconomic crisis; growth; stability; subjective well-being;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
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