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The Sadness of Bulgaria

Author

Listed:
  • Hernando Zuleta
  • Maria Draganova

Abstract

There is a significant positive statistical connection between GDP per capita and the satisfaction rate. However, Bulgaria, being a middle income economy, is one of the saddest places on Earth. We try to identify possible reasons for this phenomenon and we put forward some policy implications. The evolution of fertility rates, income per capita and income distribution during the democratic era help to understand the Bulgarian sadness.

Suggested Citation

  • Hernando Zuleta & Maria Draganova, 2012. "The Sadness of Bulgaria," Documentos CEDE 10018, Universidad de los Andes, Facultad de Economía, CEDE.
    • Handle: RePEc:col:000089:010018
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    File URL: https://repositorio.uniandes.edu.co/bitstream/handle/1992/8344/dcede2012-24.pdf
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    References listed on IDEAS

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    1. Rehdanz, Katrin & Maddison, David, 2005. "Climate and happiness," Ecological Economics, Elsevier, vol. 52(1), pages 111-125, January.
      • Katrin Rehdanz & David J. Maddison, 2003. "Climate and Happiness," Working Papers FNU-20, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2003.
    2. Alesina, Alberto & Di Tella, Rafael & MacCulloch, Robert, 2004. "Inequality and happiness: are Europeans and Americans different?," Journal of Public Economics, Elsevier, vol. 88(9-10), pages 2009-2042, August.
    3. Daniel W. Sacks & Betsey Stevenson & Justin Wolfers, 2010. "Subjective Well-Being, Income, Economic Development and Growth," NBER Working Papers 16441, National Bureau of Economic Research, Inc.
    4. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Why is research about Bulgarians' sadness so sad?
      by Economic Logician in Economic Logic on 2012-10-25 19:12:00

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    More about this item

    Keywords

    Happiness; Prospect Theory; Relative Consumption; Communism;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D69 - Microeconomics - - Welfare Economics - - - Other
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth

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