nep-hap New Economics Papers
on Economics of Happiness
Issue of 2023‒05‒08
two papers chosen by

  1. Well-being in Finland: Bringing together people, economy and planet By Lara Fleischer; Liva Stokenberga
  2. Understanding the Impacts of a Natural Disaster: Evidence from the 2004 Indian Ocean Tsunami By Elizabeth Frankenberg; Cecep Sumantri; Duncan Thomas

  1. By: Lara Fleischer; Liva Stokenberga
    Abstract: Drawing on the OECD Well-being Framework, this paper outlines the state of well-being outcomes in Finland and identifies strengths, weaknesses and trends compared to other OECD countries. Overall, Finland is an established international leader in well-being and sustainability. Six key insights highlight the several challenges for well-being that remain in Finland and should be addressed in a comprehensive, balanced and inclusive way. These insights have been identified by considering economic, social, and environmental outcomes – and inequalities in these – simultaneously, to highlight the type of policy-relevant findings that arise when applying a well-being approach to measuring progress.
    Keywords: well-being analysis, well-being metrics
    JEL: A12 I31 J88 A13
    Date: 2023–04–24
  2. By: Elizabeth Frankenberg; Cecep Sumantri; Duncan Thomas
    Abstract: Measuring impacts of extreme events on population well-being is complicated if data are not representative of the pre-event at-risk population or a representative sample of the population is not followed post-event. The sources and nature of some important biases are documented using data from the Study of the Tsunami Aftermath and Recovery (STAR) which documents the evolution of population well-being before and after a major natural disaster, the 2004 Indian Ocean tsunami. The baseline, collected 10 months before the tsunami, is representative of the at-risk population. Respondents have been followed and re-interviewed multiple times in the fifteen years since the tsunami achieving high follow-up rates. We empirically document the importance of construct samples that represent the pre-event at-risk population, rather than an opportunistic sample of those in the vicinity of the event. Pre-event characteristics condition where and in what circumstances people live post-event. Post-event well-being is associated with post-event living conditions in the short-term, and that over time, the link weakens between short-term living arrangements and post-event well-being. Failure to follow-up all respondents, especially those who move away from the location of the event, yields biased estimates of impacts of the event.
    JEL: O10 Q56
    Date: 2023–04

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