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dc.contributor.authorPischke, Jörn-Steffenen
dc.date.accessioned2011-10-04-
dc.date.accessioned2011-11-23T11:31:13Z-
dc.date.available2011-11-23T11:31:13Z-
dc.date.issued2011-
dc.identifier.piurn:nbn:de:101:1-201105306284en
dc.identifier.urihttp://hdl.handle.net/10419/51611-
dc.description.abstractThere is a well-established positive correlation between life-satisfaction measures and income in individual level cross-sectional data. This paper attempts to provide some evidence on whether this correlation reflects causality running from money to happiness. I use industry wage differentials as instruments for income. This is based on the idea that at least part of these differentials are due to rents, and part of the pattern of industry affiliations of individuals is random. To probe the validity of these assumptions, I compare estimates for life satisfaction with those for job satisfaction, present fixed effects estimates, and present estimates for married women using their husbands' industry as the instrument. All these specifications paint a fairly uniform picture across three different data sets. IV estimates are similar to the OLS estimates suggesting that most of the association of income and well-being is causal.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x5705en
dc.subject.jelD1en
dc.subject.jelJ31en
dc.subject.ddc330en
dc.subject.keywordlife satisfactionen
dc.subject.keywordwell-beingen
dc.titleMoney and happiness: Evidence from the industry wage structure-
dc.typeWorking Paperen
dc.identifier.ppn669246085en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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