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Does inflation affect well-being?

Author

Listed:
  • David Leblang

    (University of Virginia)

  • Michael D. Smith

    (Alaska Fisheries Science Center)

  • Dennis Wesselbaum

    (University of Otago)

Abstract

After years of low and stable inflation, high inflation rates have returned in many countries around the world. This paper highlights the importance of outliers for the study of whether inflation is associated with individual-level well-being using cross-country data. We combine Gallup World Poll individual-level data from 150 countries between 2007 and 2019 with inflation data obtained from the International Monetary Fund (N = 1,946,459). We conduct a conceptual replication of the paper by El-Jahel et al. (J Money Credit Bank 55:2001, 2022). We replicate the main finding that inflation is significantly associated with well-being in the full sample (p

Suggested Citation

  • David Leblang & Michael D. Smith & Dennis Wesselbaum, 2025. "Does inflation affect well-being?," Empirical Economics, Springer, vol. 69(3), pages 1527-1549, September.
    • Handle: RePEc:spr:empeco:v:69:y:2025:i:3:d:10.1007_s00181-025-02761-w
    DOI: 10.1007/s00181-025-02761-w
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    Keywords

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    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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