Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/58945
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dc.contributor.authorFitzRoy, Felix R.en_US
dc.contributor.authorNolan, Michaelen_US
dc.contributor.authorSteinhardt, Max F.en_US
dc.date.accessioned2012-04-04en_US
dc.date.accessioned2012-06-15T07:58:35Z-
dc.date.available2012-06-15T07:58:35Z-
dc.date.issued2011en_US
dc.identifier.piurn:nbn:de:101:1-201111023735-
dc.identifier.urihttp://hdl.handle.net/10419/58945-
dc.description.abstractWe first confirm previous results with the German Socio-Economic Panel by Layard et al. (2010), and obtain strong negative effects of comparison income. However, when we split the sample by age, we find quite different results for reference income. The effects on life-satisfaction are positive and significant for those under 45, consistent with Hirschman's (1973) 'tunnel effect', and only negative (and larger than in the full sample) for those over 45, when relative deprivation dominates. Thus for young respondents, reference income's signalling role, indicating potential future prospects, can outweigh relative deprivation effects. Own-income effects are also larger for the older sample, and of greater magnitude than the comparison income effect. In East Germany the reference income effects are insignificant for all. With data from the British Household Panel Survey, we confirm standard results when encompassing all ages, but reference income loses significance in both age groups, and most surprisingly, even own income becomes insignificant for those over 45, while education has significant negative effects.en_US
dc.language.isoengen_US
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen_US
dc.relation.ispartofseries|aDiscussion Paper series, Forschungsinstitut zur Zukunft der Arbeit |x6045en_US
dc.subject.jelD10en_US
dc.subject.jelI31en_US
dc.subject.jelJ10en_US
dc.subject.ddc330en_US
dc.subject.keywordsubjective life-satisfactionen_US
dc.subject.keywordcomparison incomeen_US
dc.subject.keywordreference groupsen_US
dc.subject.keywordageen_US
dc.subject.keywordwelfareen_US
dc.subject.stwZufriedenheiten_US
dc.subject.stwEinkommensverteilungen_US
dc.subject.stwAltersgruppeen_US
dc.subject.stwSoziale Schichten_US
dc.subject.stwSch├Ątzungen_US
dc.subject.stwDeutschlanden_US
dc.titleAge, life-satisfaction, and relative income: Insights from the UK and Germanyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn689691203en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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