2002 saw the first large-scale survey of household wealth carried out in Australia since World War I. Conducted as part of the second wave of the Household, Income and Labour Dynamics in Australia (or HILDA) Survey, it covered all main components of asset portfolios and debts. This paper uses...

The accepted view among psychologists and, increasingly, economists is that household income has statistically significant but only small effects on measures of subjective well-being. Income, however, is clearly an imperfect measure of the economic circumstances of households. Using data drawn...

The accepted view among psychologists and economists alike is that economic well-being has a statistically significant but only weak effect on happiness/subjective well-being (SWB). This view is based almost entirely on weak relationships between household income and SWB. But income is clearly...