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It's not the economy, stupid! How social capital and GDP relate to happiness over time

Listed author(s):
  • Stefano Bartolini
  • Francesco Sarracino

What predicts the evolution over time of subjective well-being? We correlate the trends of subjective well-being with the trends of social capital and/or GDP. We find that in the long and medium run social capital largely predicts the trends of subjective wellbeing in our sample of countries. In the short-term this relationship weakens. Indeed, in the short run, changes in social capital predict a much smaller portion of the changes in subjective well-being than over longer periods. GDP follows a reverse path, thus confirming the Easterlin paradox: in the short run GDP is more positively correlated to well-being than in the medium-term, while in the long run this correlation vanishes.

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File URL: http://arxiv.org/pdf/1411.2138
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Paper provided by arXiv.org in its series Papers with number 1411.2138.

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Date of creation: Nov 2014
Handle: RePEc:arx:papers:1411.2138
Contact details of provider: Web page: http://arxiv.org/

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