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dc.contributor.authorHeadey, Bruceen_US
dc.contributor.authorMuffels, Ruuden_US
dc.contributor.authorWooden, Marken_US
dc.date.accessioned2009-01-28T16:14:21Z-
dc.date.available2009-01-28T16:14:21Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/20471-
dc.description.abstractThe accepted view among psychologists and economists alike is that economic well-being has a statistically significant but only weak effect on happiness/subjective well-being (SWB). This view is based almost entirely on weak relationships with household income. The paper uses household economic panel data from five countries – Australia, Britain, Germany, Hungary and the Netherlands – to provide a reconsideration of the impact of economic wellbeing on happiness. The main conclusion is that happiness is considerably more affected by economic circumstances than previously believed. In all five countries wealth affects life satisfaction more than income. In the countries for which consumption data are available (Britain and Hungary), non-durable consumption expenditures also prove at least as important to happiness as income. Further, results from panel regression fixed effects models indicate that changes in wealth, income and consumption all produce significant, though not large, changes in satisfaction levels.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 1218en_US
dc.subject.jelD19en_US
dc.subject.jelD31en_US
dc.subject.jelI31en_US
dc.subject.ddc330en_US
dc.subject.keywordconsumptionen_US
dc.subject.keywordeconomic well-beingen_US
dc.subject.keywordincomeen_US
dc.subject.keywordlife satisfactionen_US
dc.subject.keywordsubjective wellbeingen_US
dc.subject.keywordwealthen_US
dc.subject.stwLebensstandarden_US
dc.subject.stwLebensqualitäten_US
dc.subject.stwEinkommenen_US
dc.subject.stwVermögenen_US
dc.subject.stwKonsumgesellschaften_US
dc.subject.stwSchätzungen_US
dc.subject.stwAustralienen_US
dc.subject.stwGrossbritannienen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwUngarnen_US
dc.subject.stwNiederlandeen_US
dc.subject.stwLebenszufriedenheiten_US
dc.titleMoney Doesn?t Buy Happiness ... Or Does It? : A Reconsideration Based on the Combined Effects of Wealth, Income and Consumptionen_US
dc.typeWorking Paperen_US
dc.identifier.ppn39264729Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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