Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/174095 
Year of Publication: 
2017
Series/Report no.: 
IZA Discussion Papers No. 11185
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Using panel data from the BHPS and its Understanding Society extension, we study life satisfaction (LS) and income over nearly two decades, for samples split by education, and age – to our knowledge for the first time. The highly educated went from lowest to highest LS, though their average income was always higher. In spite of rapid income growth up to 2008/09, the less educated showed no rise in LS, while highly educated LS rose after the crash despite declining real income. In panel LS regressions with individual fixed effects, none of the income variables was significant for the highly educated.
Subjects: 
education
income
economic growth
life satisfaction
Easterlin Paradox
JEL: 
I31
O47
Document Type: 
Working Paper

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