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Inflation, Unemployment and Happiness: empirical evidences of the contribution of Economic Growth

Author

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  • Jalal El ouardighi
  • Francis Munier

Abstract

This paper improves the understanding of the trade-off between inflation and unemployment and its impact on Subjective Well-Being (SWB), considering the role of the (Growth Domestic Product) GDP Growth and the issue of heterogeneity/nonlinearity. Effects on SWB depends on the spread between observed and potential GDP growth. The results point out country heterogeneity and nonlinearity of the marginal effects of macroeconomic variables on SWB. Economic growth moderates the relationship between unemployment as well as inflation and SWB. Both unemployment and GDP per capita growth rates have an important impact on Europeans’ SWB. Fostering economic growth must be one of the priorities of European policy.

Suggested Citation

  • Jalal El ouardighi & Francis Munier, 2019. "Inflation, Unemployment and Happiness: empirical evidences of the contribution of Economic Growth," Working Papers of BETA 2019-29, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    • Handle: RePEc:ulp:sbbeta:2019-29
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    File URL: http://beta.u-strasbg.fr/WP/2019/2019-29.pdf
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    Cited by:

    1. Matthew Shannon, 2021. "The Impact of Victimisation on Subjective Well-Being," Working Papers 202123, School of Economics, University College Dublin.
    2. Bonasia, Mariangela & Napolitano, Oreste & Spagnolo, Fabio & Spagnolo, Nicola, 2022. "The economic and welfare state determinants of well-being in Europe," International Economics, Elsevier, vol. 171(C), pages 49-57.

    More about this item

    Keywords

    Subjective well-being; Economic growth; unemployment; inflation; heterogeneity / nonlinearity.;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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