What Buys Happiness? Analyzing Trends in Subjective Well-Being in 15 European Countries, 1973-2002

23 Pages Posted: 26 Aug 2005

See all articles by Christian Bjørnskov

Christian Bjørnskov

Aarhus University - Department of Economics and Business; Research Institute of Industrial Economics (IFN); Center for Political Studies; Institute for Corruption Studies

Nabanita Datta Gupta

Department of Economics and Business, Aarhus University; IZA Institute of Labor Economics

Peder J. Pedersen

Department of Economics Aarhus University ; IZA Institute of Labor Economics

Date Written: August 2005

Abstract

Trends in life satisfaction are examined across 15 European countries employing a modified version of Kendall's Tau. Analyses show that GDP growth relative to growth in the preceding period is a significant determinant of the trends; the same holds for the growth in life expectancy while the contemporaneous growth in the current account balance exerts a positive influence. Relative unemployment growth becomes significant when interacted with a measure of the long-run political ideology of the median voter. The effects of relative GDP growth vary with the political ideology variable.

Keywords: subjective well-being, economic factors

JEL Classification: I31

Suggested Citation

Bjørnskov, Christian and Datta Gupta, Nabanita and Pedersen, Peder J., What Buys Happiness? Analyzing Trends in Subjective Well-Being in 15 European Countries, 1973-2002 (August 2005). IZA Discussion Paper No. 1716. Available at SSRN: https://ssrn.com/abstract=789445

Christian Bjørnskov (Contact Author)

Aarhus University - Department of Economics and Business ( email )

Fuglesangs Allé 4
Aarhus V, DK-8210
Denmark

Research Institute of Industrial Economics (IFN) ( email )

Box 55665
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Stockholm, SE-102 15
Sweden

Center for Political Studies

Landgreven 3
Copenhagen K, DK-1301
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Institute for Corruption Studies

Stevenson Hall 425
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United States

Nabanita Datta Gupta

Department of Economics and Business, Aarhus University ( email )

Fuglesangs Allé 4
8210 Aarhus V
Denmark
+45 87165207 (Phone)

HOME PAGE: http://pure.au.dk/portal/da/ndg@econ.au.dk

IZA Institute of Labor Economics

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

Peder J. Pedersen

Department of Economics Aarhus University ( email )

DK-8000 Aarhus
Denmark
+45 8942 1581 (Phone)
+45 8613 6334 (Fax)

IZA Institute of Labor Economics

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

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