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on Economics of Happiness |
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Issue of 2023‒07‒17
six papers chosen by |
| By: | Dajana Barbić (Faculty of Economics and Business, University of Zagreb); Irena Palić (Faculty of Economics and Business, University of Zagreb) |
| Abstract: | This research paper delves into a comprehensive analysis of the financial and life satisfaction levels among the youth in Croatia, with a keen focus on understanding the intricate relationship between these two constructs. The primary objective of this study is to assess the significance of individual financial satisfaction as a key predictor of overall happiness and satisfaction levels. By leveraging a robust dataset collected from both university and high-school students in Croatia, and employing rigorous regression analysis techniques, we have uncovered compelling evidence that underscores the substantial influence of financial satisfaction on bolstering one's life satisfaction. Our findings underscore the critical role of improving financial satisfaction and exercising effective control over personal finances in augmenting overall happiness levels. Through a nuanced exploration of these dimensions, this study paves the way for actionable insights and strategies to enhance well-being among the youth in Croatia. |
| Keywords: | financial satisfaction, happiness, life satisfaction, students |
| JEL: | I31 D14 P46 C01 |
| Date: | 2023–06–21 |
| URL: | http://d.repec.org/n?u=RePEc:zag:wpaper:2305&r=hap |
| By: | Benczur, Peter (European Commission); Kvedaras, Virmantas (European Commission) |
| Abstract: | This paper evaluates the importance of middle class vulnerability to poverty for subjective well-being (happiness) in European countries. Using the special module of the European Union Statistics on Income and Living Conditions micro-data on well-being and national aggregates from the World Happiness Report, the vulnerability indicator used is shown to be statistically significant for happiness perceptions at both the individual and aggregate levels. At the micro level, the economic importance of income vulnerability for the middle class is on a par with (or even greater than) economic factors such as severe material deprivation, difficulty of finding a job, or the acute financial burden of housing or debt repayments. We find that the lower income bound of the middle class (75% of the national median income) and not the poverty line (60% of the median) is more relevant for individual hapiness of middle class members. The aggregate income vulnerability of the middle class is also one of the most significant factors affecting national happiness, along with gross domestic product per capita and perceptions of corruption. The results indicate that anxiety related to the (severe) downside risk of income has large costs in terms of happiness. They therefore support the development of policies to reduce income uncertainty. |
| Keywords: | happiness, income insecurity, middle class, poverty, subjective well-being, vulnerability |
| JEL: | C46 D31 I31 |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:jrs:wpaper:202305&r=hap |
| By: | Piper, Alan |
| Abstract: | This entry summarises quantitative research endeavours regarding the relationship between age and happiness. Firstly, the dominant finding in the literature is discussed: that, on average, happiness starts off high in early adulthood and declines to a midlife low and then, following the midlife low, average happiness increases again until retirement. As the discussion highlights, this midlife low finding has been found around the world, and at different time periods, with different datasets and methods. This entry also shows how some individuals suffer more at midlife than others, and discusses why this might be the case. While the dominant finding is largely (though not wholly) accepted, reasons for its existence and how it might be mitigated are less clear and remain to some extent a puzzle. The recommendations aim for more understanding here and regarding other trends at different parts of the lifecycle. |
| Keywords: | Age; ;Happiness; Life Satisfaction |
| JEL: | I31 |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117556&r=hap |
| By: | Maite Blázquez (Universidad Autonoma de Madrid.); Ainhoa Herrarte (Universidad Autonoma de Madrid.); Ana I. Moro Egido (Department of Economic Theory and Economic History, University of Granada.) |
| Abstract: | The increase in atypical jobs (self-employment and temporary jobs) driven by the digital platform economy (gig economy) has put this type of work in the spotlight of the social and political debate. Among the countries of the European Union, Spain stands out for having the highest volume of digital platform work. This study uses microdata from the Spanish Living Conditions Survey for the year 2018 and Google trends data on Deliveroo, Airbnb, Just Eat, Uber, and Freelance as a proxy of digital platform economy demand to analyse the well-being effects of being employed in any of the types of employment arrangements associated with the gig economy. Using an econometric approached based on instrumental variables, we find evidence that the most deleterious well-being effects are found among self-employed workers and for the dimension of well-being based on self-reported health. The self-employed (ownaccount workers) display a 125.8% decrease in average self-reported health levels compared to permanent workers. Our results suggest that the greater job insecurity and precariousness associated with self-employment outweighs the potential positive impact caused by the greater flexibility and autonomy of this type of work. |
| Keywords: | Digital platform economy, Gig economy, Digital platform work, Self-employment, Temporary jobs, Well-being, Self-reported health, Happiness, Life satisfaction. |
| JEL: | I31 J21 J81 J40 |
| Date: | 2023–06–15 |
| URL: | http://d.repec.org/n?u=RePEc:gra:wpaper:23/05&r=hap |
| By: | Kol, Cemre; Kurt, Beliz |
| Abstract: | Covid-19 lockdowns resurfaced the dynamics that influence the distribution of household duties and reinforced gender disparity due to the domestic roles of women. We analyzed the effects of remote work on work efficacy and satisfaction of employees in terms of gender equality in Turkey. The primary data gathered from the authors' survey have been compared to unique e-survey of Eurofound for Italy. The methodology of this research has displayed a regression analysis to find the impact of remote work on the remote workers of Turkey by using the data collected from our online survey. It has been found that the satisfaction and wellbeing of employees have been reduced by the effects of remote work. Women in comparison to men, in particular, have reported higher levels of work quality and efficacy while reporting lower levels of satisfaction during remote work period. |
| Keywords: | Remote work; Gender inequality; Well-being; Work efficacy; Covid-19 |
| JEL: | C1 I31 J16 J28 |
| Date: | 2023–06–19 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117683&r=hap |
| By: | Bauer, Anna; Gerner, Hans-Dieter; Jäckle, Robert; Mummert, Uwe; Sandner, Malte; Seebens, Holger |
| Abstract: | Die langfristige Lebenszufriedenheit (Happiness/Glücksempfinden) ehemaliger Studierender scheint maßgeblich mit ihrem subjektiven Glücksempfinden während der Zeit an der Hochschu-le zusammen zu hängen (Harker und Keltner, 2001). Vor diesem Hintergrund untersucht der vorliegende Beitrag basierend auf Survey-Daten aus dem Jahr 2022 die Lebens- und Studienzu-friedenheit der Studierenden an der TH Nürnberg Georg Simon Ohm. Unsere Analysen ergeben einen durchschnittlichen OHM Happiness Score von 6, 93 Skalenpunkten. Dieser Wert liegt et-was über dem Durchschnitt der deutschen Bevölkerung (6, 86), knapp unterhalb des arithmeti-schen Mittels in Bayern (7, 06) und entspricht genau dem Glücksempfinden der Region Franken (6, 94), in deren Zentrum Nürnberg die OHM zu Hause ist. International positioniert sich die OHM im Bereich der Bevölkerung von Ländern wie den USA (6, 98), der Schweiz (6, 94) oder der Tschechischen Republik (6, 92). Wir zeigen, dass die Lebenszufriedenheit unter den Studieren-den – analog zur Gesamtbevölkerung – während der Covid-19-Pandemie zurück gegangen ist. Das Covid-Happiness-Tal scheint mit der endgültigen Rückkehr in die Hörsäle im Jahr 2022 aber überwunden zu sein. Ferner zeigen wir, dass Studienzufriedenheit und Lebenszufriedenheit an der OHM positiv korrelieren und untersuchen, wie verschiedene Merkmale und Leistungen der Studierenden mit ihrer Happiness und Studienzufriedenheit zusammenhängen: eine höhere Selbstwirksamkeit geht mit einer deutlich höheren Lebens- und Studienzufriedenheit einher, dagegen sind schlechte Schul- und Studienleistungen, die Erwartung einer langen Studiendauer, Stress und Prokrastination mit einer geringeren Lebens- und Studienzufriedenheit verbunden. Schließlich steht ein höheres erwartetes Einstiegsgehalt in einem positiven Zusammenhang mit dem subjektiv empfundenen Glück, allerdings nur bis zu einem Jahresbruttogehalt von 60.000 Euro. Studierende, die einen höheren Verdienst erwarten, geben ein niedrigeres Glücksniveau an. |
| Keywords: | Happiness, subjektives Glücksempfinden, Lebenszufriedenheit, Studienzufriedenheit, Studierende, Hochschule |
| JEL: | I23 I31 |
| Date: | 2023–05–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117403&r=hap |