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Will GDP growth increase happiness in developing countries?

Clark, Andrew E.; Senik, Claudia - HAL - 2010

This paper asks what low-income countries can expect from growth in terms of happiness. It interprets the set of … available international evidence pertaining to the relationship between income growth and subjective well-being. Conforming to … the Easterlin paradox, higher income always correlates with higher happiness, except in one case: whether national income …

Persistent link: https://www.econbiz.de/10010738855

Poverty and Well-Being: Panel Evidence from Germany

Clark, Andrew E.; D'Ambrosio, Conchita; Ghislandi, Simone - HAL - 2013

We consider the link between poverty and subjective well-being, and focus in particular on the role of time. We use panel data on 42,500 individuals living in Germany from 1992 to 2010 to uncover four empirical relationships. First, life satisfaction falls with both the incidence and intensity...

Persistent link: https://www.econbiz.de/10010739011

Adaptation to Poverty in Long-Run Panel Data

Clark, Andrew E.; D'ambrosio, Conchita; Ghislandi, Simone - HAL - 2014

We consider the link between poverty and subjective well-being, and focus in particular on potential adaptation to poverty. We use panel data on almost 45,800 individuals living in Germany from 1992 to 2011 to show first that life satisfaction falls with both the incidence and intensity of...

Persistent link: https://www.econbiz.de/10010739092

Public spending shocks in a liquidity-constrained economy

Challe, Edouard; Ragot, Xavier - HAL - 2007

-lived households face occasionally binding borrowing constraints and store wealth to smooth out idiosyncratic income fluctuations. Debt …

Persistent link: https://www.econbiz.de/10010739110

Incomplete markets and the output-inflation tradeoff

Algan, Yann; Challe, Edouard; Ragot, Xavier - HAL - 2008

This paper analyses the effects of money shocks on macroeconomic aggregates in a flexible-price, incomplete-markets environment that generates persistent wealth inequalities amongst agents. In this framework, unexpected money shocks redistribute wealth from the cash-rich employed to the...

Persistent link: https://www.econbiz.de/10010930190

Learning Financial Shocks and the Great Recession

Pintus, Patrick A.; Suda, Jacek - HAL - 2014

This paper develops a simple business-cycle model in which financial shocks have large macroeconomic effects when private agents are gradually learning their uncertain environment. When agents update their beliefs about the parameters that govern the unobserved process driving financial shocks...

Persistent link: https://www.econbiz.de/10010933890

Leveraged financing, over investment, and boom-bust cycles

Pintus, Patrick-Antoine; Weng, Yi - HAL - 2009

It has long been argued in the history of economic thought that over investment through highly leveraged borrowing under elastic credit supply may generate large boom-bust business cycles. This paper rationalizes this idea in a dynamic general equilibrium model with infinitely lived rational...

Persistent link: https://www.econbiz.de/10008794064

Direct evidence on income comparisons and their welfare effects

Senik, Claudia - HAL - 2008

increase the demand for income redistribution, but there, the relative impact of subjective ranking is preponderant. …

Persistent link: https://www.econbiz.de/10010738752

Ambition and jealousy. Income interactions in the "Old" Europe versus the "New" Europe and the United States

Senik, Claudia - HAL - 2007

-being depends on own income and reference income, where reference income is defined as the income of professional peers. It uncovers … States. Whereas in the old Europe, the income of my reference group exerts a negative effect on my individual welfare, it has …

Persistent link: https://www.econbiz.de/10010738753

The French Unhappiness Puzzle: the Cultural Dimension of Happiness

Senik, Claudia - HAL - 2013

This article sheds light on the important differences in self-declared happiness across countries of similar affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus...

Persistent link: https://www.econbiz.de/10010738792