nep-hap New Economics Papers
on Economics of Happiness
Issue of 2022‒05‒16
two papers chosen by



  1. Wealth and subjective well-being in Germany By Jantsch, Antje; Le Blanc, Julia; Schmidt, Tobias
  2. The Female Happiness Paradox By David G. Blanchflower; Alex Bryson

  1. By: Jantsch, Antje; Le Blanc, Julia; Schmidt, Tobias
    Abstract: Wealth in addition to income determines to a large degree an individual's consumption opportunities and economic situation, which should in turn affect their subjective well-being. We analyse empirically the relationship between life satisfaction as an indicator of subjective well being and households' wealth. We contribute to the scarce literature on wealth and well-being using micro-data from the German wealth survey, Panel on Household Finances - PHF, for 2010 and 2014. Using panel regression models, we find that (i) individuals' life satisfaction is statistically significant and positively associated with their households' wealth holdings, (ii) different components of wealth, such as real and financial assets, as well as debt, have differential effects on life satisfaction, (iii) both wealth levels and wealth holdings relative to other households matter for life satisfaction. Our study shows that it is important to consider wealth, in addition to income, when analysing individuals' life satisfaction.
    Keywords: wealth,debt,assets,life satisfaction,relative wealth,subjective well-being
    JEL: I31 D19 D31
    Date: 2022
    URL: http://d.repec.org/n?u=RePEc:zbw:bubdps:112022&r=
  2. By: David G. Blanchflower; Alex Bryson
    Abstract: Using data across countries and over time we show that women are unhappier than men in unhappiness and negative affect equations, irrespective of the measure used – anxiety, depression, fearfulness, sadness, loneliness, anger – and they have more days with bad mental health and more restless sleep. Women are also less satisfied with many aspects of their lives such as democracy, the economy, the state of education and health services. They are also less happy in the moment in terms of peace and calm, cheerfulness, feeling active, vigorous, fresh and rested. However, prior evidence on gender differences in global wellbeing metrics – happiness and life satisfaction – is less clear cut. Differences vary over time, location, and with model specification and the inclusion of controls especially marital status. We also show that there are significant variations by month in happiness data regarding whether males are happier than females but find little variation by month in unhappiness data. It matters which months are sampled when measuring positive affect but not with negative affect. These monthly data reveal that women’s happiness was more adversely affected by the COVID shock than men’s, but also that women’s happiness rebounded more quickly suggesting resilience. As a result, we now find strong evidence that males have higher levels of both happiness and life satisfaction in recent years even before the onset of pandemic. As in the past they continue to have lower levels of unhappiness. A detailed analysis of several data files, with various metrics, for the UK confirms that men now are happier than women.
    JEL: I31 J16
    Date: 2022–03
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:29893&r=

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