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The 60es turnaround as a test on the causal relationship between sociability and happiness

  • Leonardo Becchetti

    ()

    (University of Rome Tor Vergata)

  • Elena Giachin Ricca

    (University of Rome Tor Vergata)

  • Alessandra Pelloni

    (University of Rome Tor Vergata)

The nexus between relational life and life satisfaction is riddled with endogeneity problems. By investigating the causal relationship going from the first to the second variable we consider that retirement is a shock which increases the time investable in (outside job) relational life. As a consequence we instrument investment in relational goods with the aggregate exogenous age-retirement pattern. With such approach we document that investment in relational life has a positive and significant effect on life satisfaction. Consequences of our findings in terms of retirement effects and age-happiness pattern are also discussed.

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Paper provided by Econometica in its series Econometica Working Papers with number wp07.

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Length: 43
Date of creation: Feb 2009
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Handle: RePEc:ent:wpaper:wp07
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