Economic and Social Status, Health and Subjective Well-Being - The Case of Argentina in 1995 and 2006

In this study the probability of being happy and have good health are jointly estimated controlling by the effect of economic, social and demographic characteristics. A bivariate probit model is estimated using data from the World Values Survey for Argentina in 1995 and 2006. The results show that the probability of having good health increases with the socioeconomic status of individuals and the confidence level in institutions (cognitive dimension of individual social capital). In addition, the probability of being happy is positively affected by better socioeconomic status, greater confidence level in institutions, and is greater for married people and men. It also can be concluded that variables associated with financial satisfaction such as number of children and being unemployed present a negative impact on subjective well-being. The results confirm that there is a positive correlation between being happy and being healthy and suggest that it is possible to positively affect the health and well-being of people in social and economic disadvantages encouraging and promoting policies to foster the strengthening of social capital