Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/149644
Authors: 
Tonzer, Lena
Year of Publication: 
2017
Series/Report no.: 
IWH Discussion Papers 2/2017
Abstract: 
This paper focuses on the effect of uncertainty as reflected by financial market variables on subjective well-being. The analysis is based on Eurobarometer surveys, covering 20 countries over the period from 2000 to 2013. Individuals report lower levels of life satisfaction in times of higher uncertainty approximated by stock market volatility. This effect is heterogeneous across respondents: The probability of being unsatisfied is higher for respondents who are older, less educated, and live in one of the GIIPS countries of the euro area. Furthermore, higher uncertainty in combination with a financial crisis increases the probability of reporting low values of life satisfaction.
Subjects: 
subjective well-being
uncertainty
financial crises
JEL: 
D60
G01
I31
Document Type: 
Working Paper

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