Ageing, Death and Life Satisfaction: Evidence from the Household, Income and Labour Dynamics in Australia Survey

9 Pages Posted: 2 Dec 2016

See all articles by Mark Wooden

Mark Wooden

University of Melbourne - Melbourne Institute of Applied Economic and Social Research; IZA Institute of Labor Economics

Ning Li

University of Melbourne - Melbourne Institute of Applied Economic and Social Research

Date Written: December 2016

Abstract

Does subjective well‐being rise or fall with age or are most people, especially those in old age, sufficiently resilient that levels of subjective well‐being are very stable over the life course? This article uses longitudinal data from the Household, Income and Labour Dynamics in Australia Survey and finds that self‐reported life satisfaction among a large sample of Australians does vary over time. Nevertheless, over much of adulthood - between ages 25 and 65 years - the range in this variation is very small. As people enter old age, however, life satisfaction falls quite sharply. Furthermore, this fall does not appear to be entirely driven by mortality, with the decline beginning many years prior to death.

Suggested Citation

Wooden, Mark and Li, Ning, Ageing, Death and Life Satisfaction: Evidence from the Household, Income and Labour Dynamics in Australia Survey (December 2016). Australian Economic Review, Vol. 49, Issue 4, pp. 474-482, 2016. Available at SSRN: https://ssrn.com/abstract=2879156 or http://dx.doi.org/10.1111/1467-8462.12189

Mark Wooden (Contact Author)

University of Melbourne - Melbourne Institute of Applied Economic and Social Research ( email )

Level 5, FBE Building, 111 Barry Street
Parkville, Victoria 3010
Australia

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Ning Li

University of Melbourne - Melbourne Institute of Applied Economic and Social Research ( email )

Level 5, FBE Building, 111 Barry Street
Parkville, Victoria 3010
Australia

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