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on Economics of Happiness |
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Issue of 2026–04–27
two papers chosen by Viviana Di Giovinazzo, Università degli Studi di Milano-Bicocca |
| By: | Prati, Alberto (University College of London); Senik, Claudia (Paris School of Economics) |
| Abstract: | We revisit the famous Easterlin paradox by considering that life evaluation scales refer to a changing context, hence they are regularly reinterpreted. We propose a simple model of rescaling based on both retrospective and current life evaluations, and apply it to unexploited archival data from the USA. When correcting for rescaling, we find that the well-being of Americans has substantially increased, on par with GDP, health, education, and liberal democracy, from the 1950s to the early 2000s. Using several datasets, we shed light on other happiness puzzles, including the apparent stability of life evaluations during COVID-19, why Ukrainians report similar levels of life satisfaction today as before the war, and the absence of parental happiness. |
| Keywords: | happiness, life satisfaction, subjective well-being, rescaling, Easterlin paradox, Cantril ladder, Gallup |
| JEL: | I31 N32 O10 |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18536 |
| By: | OECD |
| Abstract: | This paper examines labour market outcomes, skills, health, subjective well-being and social connectedness across the life course in Finland, drawing on the OECD Well-being Framework to identify policy areas where interventions could be assessed for their economic and well-being returns. Three findings stand out. First, Finland's strong overall performance masks a significant intergenerational gradient: while older cohorts enjoy robust well-being outcomes relative to both younger Finns and international peers, results for younger generations are increasingly fragile, with rising unemployment, declining PISA scores and deteriorating subjective well-being in recent years. Second, each age group faces distinct vulnerabilities: older adults could benefit from expanding lifelong learning; middle-aged men face declining employment while women shoulder a disproportionate unpaid work burden alongside a persistent gender wage gap; and mental health for both groups lag behind international comparators. Third, loneliness and social isolation have risen for all ages since 2018, pointing to a cross-generational challenge. |
| Keywords: | life course, social investment, well-being |
| Date: | 2026–04–24 |
| URL: | https://d.repec.org/n?u=RePEc:oec:wiseaa:38-en |