will result in a reduction of average welfare and an increase in the income inequality between workers and retired people/individuals. …

the compensating income variation of social capital. We find differences in social capital when we differentiate according … income generally has a statistically significant effect. We find a significant effect of social capital on …?life?satisfaction. Consequently, the compensating income variation of social capital is substantial. …

health status. The paper presents estimates of the equivalent income change that would be necessary to change general … satisfaction with life to the same extent as a change in health satisfaction would do. In other words, the income equivalent of … estimate the income equivalent for these diseases. This method uses answers to well-being and health satisfaction questions as …

income. The model is estimated using a large German panel data set. …