Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/150766
Authors: 
Guven, Cahit
Year of Publication: 
2009
Series/Report no.: 
SOEPpapers on Multidisciplinary Panel Data Research 219
Abstract: 
I examine the impact of happiness on consumption and savings behavior using data from the DNB Household Survey from the Netherlands and the German Socio-Economic Panel. Instrumenting individual happiness with regional sunshine, the results suggest that happier people save more, spend less, and have a lower marginal propensity to consume. Happier people take more time for making decisions and have more control over expenditures; they expect a longer life and (accordingly) seem more concerned about the future than the present; they also expect less inflation in the future.
Subjects: 
happiness
savings
consumption
weather
JEL: 
D3
D12
Q54
Document Type: 
Working Paper

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