How Has the Crisis of 2008-2009 Affected Subjective Well-Being?

Welsch, Heinz; Kühling, Jan

Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/105018

Title:

How Has the Crisis of 2008-2009 Affected Subjective Well-Being?

Authors:

Welsch, Heinz
Kühling, Jan

Year of Publication:

2011

Series/Report no.:

Wirtschaftswissenschaftliche Diskussionspapiere No. V-330-11

Publisher:

University of Oldenburg, Department of Economics, Oldenburg

Abstract:

Results of life satisfaction regressions for more than 91,000 individuals are used to investigate how the macroeconomic crisis of 2008-2009 has affected subjective well-being (SWB) in 30 OECD countries. In a number of countries, the effect of the crisis on a representative person's SWB is of a similar magnitude as the effects of the most important personal life events. Our findings highlight the importance of GDP fluctuations for SWB.

Subjects:

macroeconomic crisis
growth
stability
subjective well-being

JEL:

E32
I31
E61

Document Type:

Working Paper

Appears in Collections:

Oldenburg Discussion Papers in Economics, Institut für Volkswirtschaftslehre, Universität Oldenburg

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