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Relative Income, Happiness and Utility: An Explanation for the Easterlin Paradox and Other Puzzles
Clark, Andrew E.; Frijters, Paul; Shields, Michael - Institute for the Study of Labor (IZA) - 2007
presence of relative income terms in the utility function. Income may be evaluated relative to others (social comparison) or to …
Persistent link: https://www.econbiz.de/10005763569
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From Golden Age to Golden Age: Australia’s "Great Leap Forward"?
Frijters, Paul; Gregory, Robert - Institute for the Study of Labor (IZA) - 2006
The twenty-five years after WW 2 witnessed strong labour market institutions and beneficial labour market outcomes - high wage growth and integration of low-skilled immigrants. Then came the macro shocks of the mid 1970s. Labour market outcomes deteriorated as full-time employment population...
Persistent link: https://www.econbiz.de/10005762146