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Autor:innen: 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
SOEPpapers on Multidisciplinary Panel Data Research No. 219
Verlag: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Zusammenfassung: 
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.
Schlagwörter: 
happiness
savings
consumption
weather
JEL: 
D3
D12
Q54
Dokumentart: 
Working Paper

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