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A Note on Modelling Dynamics in Happiness Estimations

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  • Piper, Alan

Abstract

This short note discusses two alternative ways to model dynamics in happiness regressions. A explained, this may be important when standard fixed effects estimates have serial correlation in the residuals, but is also potentially useful when serial correlation is not a problem for providing new insights in the happiness of economics area. The note discusses modelling dynamics two ways the note discusses are via a lagged dependent variable, and via an AR(1) process. The usefulness and statistical appropriateness of each is discussed with reference to happiness. Finally, a flow chart is provided summarising key decisions regarding the choice regarding, and potential necessity of, modelling dynamics.

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File URL: http://mpra.ub.uni-muenchen.de/49364/
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File URL: http://mpra.ub.uni-muenchen.de/49709/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 49364.

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Date of creation: Aug 2013
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Handle: RePEc:pra:mprapa:49364

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Keywords: Happiness; Dynamics; Lagged Dependent Variable; AR(1) process; Estimation;

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References

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  1. Piper, Alan T., 2012. "Heaven knows I’m miserable now: overeducation and reduced life satisfaction," MPRA Paper 43259, University Library of Munich, Germany.
  2. David M. Drukker, 2003. "Testing for serial correlation in linear panel-data models," Stata Journal, StataCorp LP, StataCorp LP, vol. 3(2), pages 168-177, June.
  3. David G. Blanchflower & Andrew J. Oswald & Sarah Stewart-Brown, 2012. "Is Psychological Well-being Linked to the Consumption of Fruit and Vegetables?," NBER Working Papers 18469, National Bureau of Economic Research, Inc.
  4. David G. Blanchflower & Andrew J. Oswald, 2011. "International Happiness," NBER Working Papers 16668, National Bureau of Economic Research, Inc.
  5. Piper, Alan T., 2012. "Dynamic Analysis and the Economics of Happiness: Rationale, Results and Rules," MPRA Paper 43248, University Library of Munich, Germany, revised Dec 2012.
  6. R Blundell & Steven Bond, . "Initial conditions and moment restrictions in dynamic panel data model," Economics Papers W14&104., Economics Group, Nuffield College, University of Oxford.
  7. Holtz-Eakin, Douglas & Newey, Whitney & Rosen, Harvey S, 1988. "Estimating Vector Autoregressions with Panel Data," Econometrica, Econometric Society, Econometric Society, vol. 56(6), pages 1371-95, November.
  8. David Roodman, 2009. "How to do xtabond2: An introduction to difference and system GMM in Stata," Stata Journal, StataCorp LP, StataCorp LP, vol. 9(1), pages 86-136, March.
  9. Bichaka Fayissa & Shah Danyal & J.S. Butler, 2011. "The Impact of Education on Health Status: Evidence from Longitudinal Survey Data," Working Papers, Middle Tennessee State University, Department of Economics and Finance 201101, Middle Tennessee State University, Department of Economics and Finance.
  10. Piper, Alan T., 2012. "A Happiness Test of Human Capital Theory," MPRA Paper 43496, University Library of Munich, Germany.
  11. M Arellano & O Bover, 1990. "Another Look at the Instrumental Variable Estimation of Error-Components Models," CEP Discussion Papers, Centre for Economic Performance, LSE dp0007, Centre for Economic Performance, LSE.
  12. Beck, Nathaniel & Katz, Jonathan N., . "Modeling dynamics in time-series-cross-section political economy data," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 1304, California Institute of Technology, Division of the Humanities and Social Sciences.
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Cited by:
  1. Piper, Alan T., 2014. "Sliding down the U-shape? An investigation of the age-well-being relationship, with a focus on young adults," MPRA Paper 55819, University Library of Munich, Germany.
  2. Piper, Alan T., 2014. "An Investigation into Happiness, Dynamics and Adaptation," MPRA Paper 57778, University Library of Munich, Germany.
  3. Piper, Alan T., 2013. "Happiness, Dynamics and Adaptation," MPRA Paper 52342, University Library of Munich, Germany.

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