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Deliver us from evil: religion as insurance

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Author Info
Andrew E. Clark
Orsolya Lelkes

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Abstract

This paper focusses on the insurance role of religion in buffering the well-being impact of stressful life events, and the ensuing economic and social implications. Using two large-scale European data sets, we show that the religious enjoy higher levels of life satisfaction, and that religion does insure against some adverse life events. All denominations suffer less psychological harm from unemployment than do the non-religious; equally both Catholics and Protestants are less hurt by marital separation. However, while Protestants are protected against divorce, Catholics are punished for it. These results do not seem to come about from the endogeneity of religion. These patterns in subjective well-being correspond to data on both attitudes (the religious are both anti-divorce and anti-job creation for the unemployed) and behaviour (the religious unemployed are less likely to be actively looking for work). In panel data, as implied by insurance, the religious have less variation in life satisfaction. Last, we suggest that religion's insurance role might be reflected in support for different economic and social systems: consistent with this, unemployment replacement rates across Europe are lower in more religious countries.

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Paper provided by PSE (Ecole normale supérieure) in its series PSE Working Papers with number 2005-43.

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Date of creation: 2005
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Handle: RePEc:pse:psecon:2005-43

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  1. Nattavudh Powdthavee, 2003. "Are there Regional Variations in the Psychological Cost of Unemployment in South Africa?," Labor and Demography 0310006, EconWPA, revised 28 Oct 2003. [Downloadable!]
  2. Andrew E. Clark & Yannis Georgellis, 2002. "Unemployment Alters the Set-Point for Life Satisfaction," Economics and Finance Discussion Papers 02-16, Economics and Finance Section, School of Social Sciences, Brunel University. [Downloadable!]
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  3. Lehrer, Evelyn L., 2004. "Religion as a Determinant of Economic and Demographic Behavior in the United States," IZA Discussion Papers 1390, Institute for the Study of Labor (IZA). [Downloadable!]
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  4. repec:cep:sticas:059 is not listed on IDEAS
  5. Roland Benabou & Jean Tirole, 2005. "Belief in a Just World and Redistributive Politics," NBER Working Papers 11208, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Ada Ferrer-i-Carbonell & Paul Frijters, 2004. "How Important is Methodology for the estimates of the determinants of Happiness?," Economic Journal, Royal Economic Society, vol. 114(497), pages 641-659, 07. [Downloadable!] (restricted)
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  7. Alberto Alesina & George-Marios Angeletos, 2005. "Fairness and Redistribution," American Economic Review, American Economic Association, vol. 95(4), pages 960-980, September. [Downloadable!]
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  8. Andrew E. Clark, 2003. "Unemployment as a Social Norm: Psychological Evidence from Panel Data," Journal of Labor Economics, University of Chicago Press, vol. 21(2), pages 289-322, April. [Downloadable!]
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  9. Roland Bénabou & Efe A. Ok, 2001. "Social Mobility And The Demand For Redistribution: The Poum Hypothesis," The Quarterly Journal of Economics, MIT Press, vol. 116(2), pages 447-487, May. [Downloadable!] (restricted)
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  10. Jonathan Gruber, 2005. "Religious Market Structure, Religious Participation, and Outcomes: Is Religion Good for You?," Advances in Economic Analysis & Policy, Berkeley Electronic Press, vol. 5(1), pages 1454-1454. [Downloadable!] (restricted)
  11. Alois Stutzer & Bruno S. Frey, . "Does Marriage Make People Happy, Or Do Happy People Get Married?," IEW - Working Papers iewwp143, Institute for Empirical Research in Economics - IEW. [Downloadable!]
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  12. Richard E. Lucas & Andrew Clark & Yannis Georgellis & Ed Diener, 2002. "Re-Examining Adaptation and the Setpoint Model of Happiness: Reactions to Changes in Marital Status," DELTA Working Papers 2002-08, DELTA (Ecole normale supérieure). [Downloadable!]
  13. Corneo, Giacomo & Gruner, Hans Peter, 2002. "Individual preferences for political redistribution," Journal of Public Economics, Elsevier, vol. 83(1), pages 83-107, January. [Downloadable!] (restricted)
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  15. Guiso, Luigi & Sapienza, Paola & Zingales, Luigi, 2003. "People's opium? Religion and economic attitudes," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 225-282, January. [Downloadable!] (restricted)
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  16. Rajeev Dehejia & Thomas DeLeire & Erzo F.P. Luttmer, 2005. "Insuring Consumption and Happiness Through Religious Organizations," NBER Working Papers 11576, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  17. Jonathan Gruber, 2005. "Religious Market Structure, Religious Participation, and Outcomes: Is Religion Good for You?," NBER Working Papers 11377, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  18. Azzi, Corry & Ehrenberg, Ronald G, 1975. "Household Allocation of Time and Church Attendance," Journal of Political Economy, University of Chicago Press, vol. 83(1), pages 27-56, February. [Downloadable!] (restricted)
  19. Erzo F.P. Luttmer, 2004. "Neighbors as Negatives: Relative Earnings and Well-Being," NBER Working Papers 10667, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  20. Laurence R. Iannaccone, 1998. "Introduction to the Economics of Religion," Journal of Economic Literature, American Economic Association, vol. 36(3), pages 1465-1495, September. [Downloadable!] (restricted)
  21. Pablo BraÒas-Garza & Shoshana Neuman, 2004. "Analyzing Religiosity within an Economic Framework: The Case of Spanish Catholics," Review of Economics of the Household, Springer, vol. 2(1), pages 5-22, 03. [Downloadable!]
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  22. Alesina, Alberto & La Ferrara, Eliana, 2005. "Preferences for redistribution in the land of opportunities," Journal of Public Economics, Elsevier, vol. 89(5-6), pages 897-931, June. [Downloadable!] (restricted)
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  23. Lehrer, Evelyn L, 1996. "Religion as a Determinant of Marital Fertility," Journal of Population Economics, Springer, vol. 9(2), pages 173-96, May.
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  24. Clark, Andrew E & Oswald, Andrew J, 1994. "Unhappiness and Unemployment," Economic Journal, Royal Economic Society, vol. 104(424), pages 648-59, May. [Downloadable!] (restricted)
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  1. Christian Bjørnskov & Axel Dreher & Justina Fischer, 2008. "Cross-country determinants of life satisfaction: exploring different determinants across groups in society," Social Choice and Welfare, Springer, vol. 30(1), pages 119-173, January. [Downloadable!] (restricted)
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  2. Viola Angelini, Danilo Cavapozzi, Luca Corazzini, Omar Paccagnella., . "Do Danes and Italians Rate Life Satisfaction in the Same Way? Using Vignettes to Correct for Individual-Specific Scale Biases," ISLA Working Papers 31, ISLA, Centre for research on Latin American Studies and Transition Economies, Universita' Bocconi, Milano, Italy. [Downloadable!]
  3. Rajeev Dehejia & Thomas DeLeire & Erzo F.P. Luttmer, 2005. "Insuring Consumption and Happiness Through Religious Organizations," NBER Working Papers 11576, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
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