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on Economics of Happiness |
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Issue of 2019‒08‒12
four papers chosen by |
| By: | Morgan, Robson; O'Connor, Kelsey J. |
| Abstract: | Average subjective well-being decreased in Europe during the Great Recession, primarily among people with less than a college education and people younger than retirement age. However, some countries fared better than others depending on their labor market policies. More generous unemployment support, which provided income replacement or programs to assist unemployed workers find jobs, mitigated the negative effects for most of the population, although not youth. In contrast, stricter employment protection legislation exacerbated the negative effects. We present further evidence that suggests the exacerbating effects of employment protection legislation are due to greater rigidities in the labor market, which in turn affect perceived future job prospects. Our analysis is based on two-stage least squares regressions using individual subjective wellbeing data obtained from Eurobarometer surveys and variation in labor market policy across 23 European countries. |
| Keywords: | life satisfaction,active labor market policy,unemployment support,employment protection legislation,Eurobarometer |
| JEL: | I31 I38 J28 J65 H53 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:372&r=all |
| By: | Mostafa Elsayedshahen (School of Economics and Management, Kochi University of Technology); Shibly Shahrier (BRAC University); Koji Kotani (School of Economics and Management, Kochi University of Technology) |
| Abstract: | Happiness, generativity and social preferences are pivotal factors for betterment and sustainability of societies. However, little is known about the relationship among happiness, generativity and social preferences along with sociodemographic factors within a single analytical framework. We hypothesize that generativity and social preferences are the determinants for happiness, and conduct a survey experiment collecting the data of five subjective happiness scales, generativity, social value orientation and sociodemographic variables in one urban area (Dhaka) and two rural areas (Bogra and Gaibandha), Bangladesh. With the data, we empirically characterize the determinants of subjective happiness with a focus on generativity and social value orientation, controlling for sociodemographic factors. The statistical analysis consistently shows positive association between subjective happiness and generativity, irrespective of the types of happiness scales, while social value orientation does not exhibit any significance. Rural residents have lower peer relative happiness than urban ones, and household income has positive relationship with general subjective happiness, leading each of these factors to be significant in overall subjective happiness. In summary, our results suggest that generativity and income are the main determinants, and economic growth with further urbanization, which is expected to occur in future, can negatively affect people’s happiness if it brings a decrease in generativity. |
| Keywords: | Happiness, generativity, social value orientation, sociodemographic factors, developing countries |
| Date: | 2019–07 |
| URL: | http://d.repec.org/n?u=RePEc:kch:wpaper:sdes-2019-8&r=all |
| By: | Harun Onder (The World Bank - The World Bank - The World Bank); Pierre Pestieau (CORE - Center of Operation Research and Econometrics [Louvain] - UCL - Université Catholique de Louvain, University of Liege, PSE - Paris School of Economics); Grégory Ponthière (PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics, ERUDITE - Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12) |
| Abstract: | We examine the e¤ects of the postulated metric on the measurement of well-being, by comparing, in the (income, lifetime) space, two indexes: the equivalent income index and the equivalent lifetime index. Those in- dexes are shown to satisfy di¤erent properties concerning interpersonal well-being comparisons, which can lead to contradictory rankings. While those incompatibilities arise under distinct indi¤erence maps, we also ex- plore the e¤ects of the metric while relying on a unique indi¤erence map, and show that, even in that case, the postulated metric matters for the measurement of well-being. That point is illustrated by quantifying, by those two indexes, the (average) well-being loss due to the Syrian War. Relying on a particular metric leads, from a quantitative perspective, to di¤erent pictures of the deprivation due to the War. |
| Keywords: | well-being,measurement,equivalent income,value of life |
| Date: | 2019–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:halshs-02187803&r=all |
| By: | Chen, Qianheng; Chen, Qianheng; Delgado, Michael; Fang, Hang |
| Keywords: | Community/Rural/Urban Development |
| Date: | 2019–06–25 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea19:291302&r=all |