Empirical studies on the relationship between income and happiness commonly use standard ordered response models, the … probability effects by design, and therefore limit the analysis of distributional aspects of a change in income, that is, the … study of whether the income effect depend on a person’s happiness. In this paper we pinpoint the shortcomings of standard …

"This essay develops a theory of the evolution of international income levels. In particular, it augments the Hansen … accounts for the evolution of international income levels over the last millennium. The essence of this unified theory is that …