Money and Happiness: Income, Wealth and Subjective Well-Being

D’Ambrosio, Conchita; Jäntti, Markus; Lepinteur, Anthony

doi:10.1007/s11205-019-02186-w

Cited by 77 publications

(45 citation statements)

References 20 publications

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“…In terms of other predictors, the current paper uses key variables that have proved to be significant determinants of SWB rather than relying on "usual suspects" (Bartram, 2021). This includes age and age squared, gender, marital status, the presence of child(ren), selfreported health status, main activity (occupations), and income (e.g., Aassve et al, 2012;Akaeda, 2019;Bartram, 2021;D'Ambrosio et al, 2020;Helliwell et al, 2020;Perelli-Harris et al, 2019;Steptoe et al, 2015;van der Meer, 2014). Indeed, Cuñado and de Gracia (2012) detected a substantial association between happiness and these attributes in their empirical analysis using the ESS data.…”

Section: Variablesmentioning

confidence: 99%

Does Education Make People Happy? Spotlighting the Overlooked Societal Condition

Araki¹

2021

J Happiness Stud

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The association between education and subjective well-being has long been investigated by social scientists. However, prior studies have paid inadequate attention to the influence of societal-level educational expansion and skills diffusion. In this article, multilevel regression analyses, using internationally comparable data for over 48,000 individuals in 24 countries, detect the overall positive linkage between educational attainment and life satisfaction. Nevertheless, this relationship is undermined due to the larger degree of skills diffusion at the societal level, and no longer confirmed once labor market outcomes are accounted for. Meanwhile, the extent of skills diffusion per se is positively and substantially associated with people’s subjective well-being even after adjusting for key individual-level and country-level predictors, whereas other societal conditions including GDP, Gini coefficients, safety, civic engagement, and educational expansion do not indicate significant links with life satisfaction in the current analysis. Given that recent research suggests skills diffusion promotes the formation of meritocratic social systems, one may argue it is the process of fairer rewards allocation underpinned by skills diffusion, rather than the status quo of macroeconomy, economic inequality, social stability, and educational opportunities as such, that matters more to people’s subjective well-being.

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Section: Variablesmentioning

confidence: 99%

Does Education Make People Happy? Spotlighting the Overlooked Societal Condition

Araki¹

2021

J Happiness Stud

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“…Financial difficulties may therefore, have an exaggerated effect on entrepreneur well-being more so than wage-workers, with less control over losing their employment. Moreover, D’Ambrosio et al (2020) and Srivastava et al (2001) find a negative relationship between the importance of money and subjective well-being. Srivastava et al (2001) argue that money is of itself not driving the relationship but rather the motives behind wanting it, such as social positioning, a feeling of power, pride, status and overcoming self-doubt; the more importance people placed on money, the poorer their subjective well-being.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 97%

The relationship between financial distress and well-being: Exploring the role of self-employment

Berrill

Cassells

O'Hagan‐Luff

et al. 2020

International Small Business Journal: Researching Entrepreneurs

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This article investigate the relationship between financial distress, well-being and employment status. Using several indicators of financial distress and of well-being, our econometric analysis shows that the negative association between financial distress and well-being is moderated by employment status in the sense that financial problems are more strongly associated with poor well-being for the self-employed compared to the wage-employed. Hence, when self-employed workers find themselves in a situation of financial distress, the negative consequences for their well-being are more severe. This is found to hold both for the self-employed with and without employees.

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“…Headey and Wooden (2004) have shown that life satisfaction is positively related to household net wealth. On this point, see also D'Ambrosio et al (2009) andD'Ambrosio et al (2020). Regarding debt, Keese and Schmitz (2014) find that this is negatively related to mental well-being, and Brown et al (2005) emphasise the role of unsecured, as opposed to secured, debt in this respect.…”

Section: Introductionmentioning

confidence: 95%

“…On this point, see also D'Ambrosio et al . (2009, 2020). Regarding debt, Keese and Schmitz (2014) find that this is negatively related to mental well‐being, and Brown et al .…”

Section: Introductionmentioning

confidence: 99%

Living in the Shadow of the Past: Financial Profiles and Well‐Being*

Clark

D’Ambrosio

Zhu

2021

Scandinavian J Economics

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We here consider the link between individual financial profiles over time and well-being, as measured by life satisfaction. We in particular look at annual self-reported financial worsening and improvement information for over 25,000 individuals in Australian panel data from 2002 to 2017. We first find that satisfaction falls (rises) with a contemporaneous major financial worsening (improvement), with worsening having the larger influence. Second, the experience of these financial events in the past continues to be linked to current well-being. Last, only the order of financial-improvement spells relates to well-being: a given number of past years where finances deteriorated has the same association with current well-being whether the deterioration occurred in one continuous spell or was interrupted. We last show that these associations are heterogeneous over the distribution of well-being.

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Money and Happiness: Income, Wealth and Subjective Well-Being

Cited by 77 publications

References 20 publications

Does Education Make People Happy? Spotlighting the Overlooked Societal Condition

Does Education Make People Happy? Spotlighting the Overlooked Societal Condition

The relationship between financial distress and well-being: Exploring the role of self-employment

Living in the Shadow of the Past: Financial Profiles and Well‐Being*

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