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 family’s 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), mother’s 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 Associazione Italiana per la Cultura della Cooperazione e del Non Profit in its series AICCON Working Papers with number 101-2012.
Length: 23 pages
Date of creation: 08 Feb 2012
Date of revision:
life satisfaction; secondary school; wealth;
Other versions of this item:
- Leonardo Becchetti & Fabio Pisani, 2012. "Family money, relational life and (class) relative wealth:an empirical analysis on life satisfaction of secondary school students," Econometica Working Papers wp35, Econometica.
- 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.
- E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-02-27 (All new papers)
- NEP-HAP-2012-02-27 (Economics of Happiness)
- NEP-LAB-2012-02-27 (Labour Economics)
- NEP-URE-2012-02-27 (Urban & Real Estate Economics)
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