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The Impact of an Economic Boom on the Level and Distribution of Well-Being: Ireland, 1994-2001

Author

Listed:
  • David Madden

    (University College Dublin)

Abstract

The impact of increased affluence on life satisfaction is a matter of some controversy. This paper examines the impact of the recent economic boom in Ireland upon the level and distribution of various domains of well-being. There is evidence of a substantial increase in life satisfaction in the domain of finance and of an improvement in mental wellbeing. There is a reduction in inequality and polarisation for virtually all domains of life satisfaction. A social welfare function which is increasing and concave in individual well-being would show an improvement in social welfare over the period.

Suggested Citation

  • David Madden, 2010. "The Impact of an Economic Boom on the Level and Distribution of Well-Being: Ireland, 1994-2001," Working Papers 201015, School of Economics, University College Dublin.
  • Handle: RePEc:ucn:wpaper:201015
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    File URL: http://www.ucd.ie/t4cms/wp10_15.pdf
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