Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/227229
Authors: 
Cheng, Terence Chai
Kim, Seonghoon
Koh, Kanghyock
Year of Publication: 
2020
Series/Report no.: 
IZA Discussion Papers No. 13702
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
We provide novel evidence on how the COVID-19 global health and economic crisis is affecting overall life satisfaction and domain-specific satisfaction using data from a monthly longitudinal survey of middle-aged and older Singaporeans. Using a difference-in-differences framework, we document large declines in overall life satisfaction and domain-specific satisfaction during the COVID-19 outbreak, except satisfaction with health. These declines coincide with the introduction of a nationwide lockdown, with life satisfaction remaining below its pre-pandemic levels even after the lockdown is lifted. We also find that individuals who report a drop in household income during the COVID-19 outbreak experience a decline in overall life satisfaction almost twice as large as those who do not report any income loss.
Subjects: 
COVID-19
pandemic
life satisfaction
subjective well-being
individual-level monthly panel data
difference-in-differences
JEL: 
E2
I12
I31
Document Type: 
Working Paper

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